Major players in the general data protection regulation services market are International Business Machines Corporation, Veritas Technologies LLC, Amazon Web Services (AWS) Inc., Microsoft Corporation, Micro Focus International plc, Absolute Software Corporation, Capgemini SE, Informatica Inc., Iron Mountain Incorporated, Mimecast Services Limited, Oracle Corporation, Proofpoint Inc., SAS Institute Inc., Varonis, and Talend
The global general data protection regulation services market grew from $1.64 billion in 2022 to $2.04 billion in 2023 at a compound annual growth rate (CAGR) of 24.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The general data protection regulation services market is expected to grow to $4.78 billion in 2027 at a CAGR of 23.8%.
The general data protection regulation market includes revenues earned by entities by providing services such as legal obligation, vital interests, public task, and legitimate interests.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
General data protection regulation (GDPR) refers to a regulatory framework that establishes standards for the gathering and processing of personal data from people living in the European Union (EU). GDPR is used to provide a set of uniform data protection laws among all the participating nations in the European Union (EU).
North America was the largest region in the general data protection regulation services market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in this general data protection regulation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of general data protection regulation services are on-premise and cloud services.On-premises refers to IT infrastructure hardware and software applications that are hosted on-site.
This contrasts with IT assets that are hosted by a public cloud platform or remote data center.The offerings involved are data management, data discovery and mapping, data governance, and API management.
The organisation size is large enterprises and small and medium-sized enterprises. The various end users involved banking, financial services, and insurance (BFSI), telecom and IT, retail and consumer goods, healthcare and life sciences, manufacturing, and other end-user industries.
The increasing number of cyberattacks is expected to propel the growth of the general data protection regulation services market going forward.A cyber attack is an attempt to enter a computer, computing system, or computer network without authorization with the goal of causing harm.
Cyber attackers would enable hackers to gain access to a person’s or company’s financial accounts using sensitive data, among other potentially damaging actions.General data protection regulation services (GDPR) provide a secure way to protect sensitive data from unauthorised access, theft, or exposure.
For instance, in 2021, according to the Federal Bureau of Investigation’s Internet Crime Report, a US-based federal agency for investigating cyber attacks and intrusions in the USA, complaints registered under cybercrimes reached a total of 84.73k cases, showing an increase of 7% from 2020. Therefore, an increasing number of cyberattacks is driving the general data protection services market.
The increasing trend of shifting towards new and advanced technology is the key trend gaining popularity in the general data protection regulation services market.Major companies operating in the general data protection regulation services market are focused on developing new technological solutions to strengthen their position.
For instance, in January 2020, Black Penny Consulting, a UK-based company operating in general data protection regulation services, developed the compliance space technology.The compliance space is built on a platform that is affordable, simple to use, and breach-sensitive for assisting with instances involving breaches of personal data.
This provides a direct platform connection to the consulting partner and is designed to replace time-consuming spreadsheets with a more intuitive software interface that will make compliance management more effective and efficient, including real-time legislative updates. The service is aimed solely at data protection officers and specialist consultants who are tasked with assisting businesses in meeting their GDPR obligations.
In January 2021, Veritas, a US-based international data management company, acquired HubStor for an undisclosed amount.This acquisition is expected to improve Hubstor’s strong backup-as-a-service technology with the Microsoft Azure public cloud base of Veritas.
HubStor is a Canada-based company operating in general data protection regulation services.
The countries covered in the general data protection regulation services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The general data protection regulation services market research report is one of a series of new reports that provides general data protection regulation services market statistics, including general data protection regulation services industry global market size, regional shares, competitors with a general data protection regulation services market share, detailed general data protection regulation services market segments, market trends and opportunities, and any further data you may need to thrive in the general data protection regulation services industry. This general data protection regulation services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.