GDPR Services Market Analysis by type, End-user industry, Application, and Region
The global GDPR Services Market was valued at USD 2203.24 million in 2020 and is expected to reach USD 7778.85 million by the year 2025, at a CAGR of 23.75%.
GDPR generally termed as General Data Protection. It is a legal framework under which guidelines for the collection and processing of personal data from the public are set who are living under European Union. The visitors from Europe are given some mandatory specific number of data disclosures for the services and market goods regardless of where the websites are based.
Corporations across different industry verticals had to restructure their entire corporate processing systems with various compliances due to rollout of GDPR in 2018. Companies have been investing a significant share of their global revenue on restructuring their business processes as per GDPR compliance. The demand for various GDPR solutions and services is increasing with the growing need to become compliant with GDPR.
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The main key vendors operating in GDPR Services Market are IBM Corporation, Oracle Corporation, Microsoft Corporation, Amazon.com Inc., Capgemini, Veritas, Informatica and Others.
By Offering type, the market is bifurcated into
Based on End-user industry, the market is divided into
· manufacturing & retail
· utilities, IT & Telecom
· Government services
· travel & hospitality
· media & entertainment
· education and others
Regions and Countries Level Analysis:
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
· Asia-Pacific (China, India, Japan, Southeast Asia etc.)
· South America (Brazil, Argentina etc.)
· Middle East & Africa (Saudi Arabia, South Africa etc.)
The rest of the region includes South America and the Middle East and Africa. In South America, the Middle East, and Africa, many companies are expanding to various regions, including Europe. As such organizations must comply with the GDPR to operate effectively in Europe, businesses need GDPR services and solutions to ensure comprehensive compliance with all regulations listed in the GDPR law.
The overall intent of the GDPR was to restore customer trust among various companies. Also, to create a more transparent environment in which customers can freely share personal data without breaches, loss or misuse.
The GDPR services market competitive landscape provides details which includes company overview, company finances, revenue generation, market potential, research and development investments, new market initiatives, regional presence, company strengths and weaknesses, product launches, product width and breadth, application advantages. The above data points provided relate only to the company's focus on the GDPR services market.
Salient Features of the GDPR services Market:
· Due to the large number of privacy breach recorded in Europe of approximately 65,000 data breaches the new law in Europe went into full affect by May 2019 which is boosting the market growth rapidly.
· Asia-Pacific holds the third-largest market size for the global GDPR services market with a market share of 15.23% and a market size of USD 341.69 million in the year 2019 and is expected to have a market size of USD 1343.51 million in the year 2025.