GDPR Services Market

Global GDPR Services Market Size (2024 to 2029)

The global GDPR Services Market is predicted to reach USD 2.62 billion in 2024 and USD 7.78 billion by 2029, growing at a CAGR of 24.30% between 2024 and 2029.

GDPR stands for "General Data Protection Regulation". It is a data protection and privacy regulation in the European Union and the European Economic Area, which gives EU citizens more control over their data. The General Data Protection Regulation (GDPR) is a legal framework containing guidelines for collecting and processing people's personal data in the European Union. Visitors from the EU are required to receive a series of data disclosures, regardless of the basis of the website. Additionally, several EU companies outside of Europe and doing business with EU clients comply with this regulation to increase their customer base. The GDPR is a new regulation for all organizations operating in the European Union member states. It also applies to organizations operating outside the EU but selling goods and services to customers and companies in the area. This means that all the big multinational corporations in the world must comply with GDPR. This Directive gives EU citizens greater control over their data.

Global GDPR Services Market Drivers:

The growing demand for cloud computing and the Internet of Things in the GDPR services market is expected to be more effective and can provide augmented products to end-users. Additionally, cloud computing technologies can help improve data privacy and services for your data. Continuously help monitor data breaches and data transfers in new environments. Additionally, the increased adoption of Privacy by Design (PbD) to improve data privacy and security across various business organizations is another factor related to market growth. PbD is an approach and belief that enables privacy across various technologies in a business. Key factors driving the growth of the global GDPR services market include the proliferation of extensive data, the increasing need for data privacy and security protection, and the excessive demand for data processing and transparency. Given the high probability of being vulnerable to cyber-attacks in the cloud, the demand for GDPR services is expected to increase even further as cloud adoption grows globally. Large companies have the resources to put in their technical and legal teams for final compliance. Still, they are not valid for small and medium-sized companies, so they are expected to be financially affected when requesting GDPR services. As the need to comply with the GDPR increases, there is a growing demand for various GDPR services. This, in turn, is an important growth factor for the market. Companies that have not complied with the GDPR in the last three years have had to pay heavy fines. Inadequate security measures to protect customer information have resulted in the loss of personal data for 500,000 airline customers. So, companies are reshaping their business operations to avoid these huge penalties. This, in turn, drives the entire GDPR service market. The enormous amount of data growth between companies and the demand for transparency in data processing are the main drivers of the growth of the GDPR services market.

Furthermore, the growth of cyberattacks and increased adoption of GDPR compliance to enhance security are expected to complement the market growth. Also, the strict regulations of the governments of each country for data protection are expected to give the market a favorable opportunity. The GDPR consists of strict rules and regulations that companies must follow. The company must pay heavy fines in case of infringement, and the business registration certificate can also be withdrawn. Cloud services are becoming more familiar with data transfer technology advances. Technological advancements have resulted in phishing emails, bots, and ransomware being sent more quickly, leading to vulnerabilities. These factors are also expected to motivate companies and organizations to implement data governance tools and GDPR services in the industry. GDPR services implementation by the EU is a crucial factor driving the growth of the global GDPR services market, including the creation of massive amounts of data and the increasing demands on the security and privacy of this data. The proliferation of cybersecurity attacks is on the rise, and existing security tools are no longer adequate to provide the necessary services, directly increasing the demand for advanced protection technologies such as GDPR services.

Global GDPR Services Market Restraints:

A significant factor impeding the growth of the global GDPR services market is the need for a skilled workforce to manage the services system effectively. Furthermore, multiple regulations and legal compliance further hinder the growth of the global GDPR services industry.

Impact of COVID-19 on the global GDPR Services Market:

During the coronavirus crisis, various organizations work remotely, and a broad category of the population uses mobile apps to track COVID-19 scenarios, teleconferencing, file sharing, and business-class certifications. Significant user data are exchanged, particularly in commercial or commercial applications. Compliance with GDPR service regulations is paramount for applications serving EU regions or hosting data servers in international regions.

REPORT COVERAGE:

This research report on the global GDPR services market has been segmented and sub-segmented based on the type, organization size, vertical and region.

Global GDPR Services Market - By Type:

• Solutions
• Services

The solution is subdivided into data management and API management. Services are subdivided into GDPR Readiness Assessments, DPO-as-a-Service, DPIA, and more.

Global GDPR Services Market - By Organization Size:

• Small
• Large

The large organizations segment held a higher market share in 2018 and is supposed to reach a CAGR of 22.9% during the conjecture period. The SME sector is estimated to register a CAGR higher than 24.5%.

Global GDPR Services Market - By Vertical:

• Retail
• Manufacturing
• IT & Telecom
• Utilities
• Government Services
• BFSI
• Travel & Accommodation
• Automotive
• Education
• Media & Entertainment
• Others

The manufacturing sector has the largest market share. It is expected to post a CAGR of 24.8% during the envisioned period. The retail sector was the second largest market in 2018, but the education sector is foreseen to record the highest CAGR of 26.2%.

Global GDPR Services Market – By Region:

• North America
  • The United States
  • Canada
  • Rest of North America
• Europe
  • The United Kingdom
  • Spain
  • Germany
  • Italy
  • France
  • Rest of Europe
• The Asia Pacific
  • India
  • Japan
  • China
  • Australia
  • Singapore
  • Malaysia
  • South Korea
  • New Zealand
  • Southeast Asia
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of LATAM
• The Middle East and Africa
  • Saudi Arabia
  • UAE
  • Lebanon
  • Jordan
  • Cyprus

Asia Pacific dominated the global GDPR services market. North America held the second-largest share in the worldwide industry. The United States is the largest market for GDPR services. Companies with a customer base in Europe and operating in North America must comply with the GDPR. Europe is expected to occupy the largest market share during the outlook period, as it has strict regulations in the EU, and the region has significant GDPR service providers. Companies located outside the EU but dealing with EU customers need the services of GDPR to protect users' data and new entrants looking to expand their business in the EU. Therefore, these services must comply with GDPR services laws, which are expected to stimulate future market growth. The rest of the region includes South America, the Middle East, and Africa. In South America, the Middle East, and Africa, many companies are expanding into various regions, including Europe. Since these organizations must comply with the GDPR to operate effectively in Europe, companies need GDPR services and solutions to ensure comprehensive compliance with all the regulations listed in the GDPR services law.

KEY MARKET PLAYERS:

Some of the key players operating in the global GDPR services market include Alert Logic Inc., Absolute Software Corporation, BMC Software Inc., Actiance Inc., Cisco Systems Inc., Capgemini SE, FTI Technology LLC, DXC Technology Company, Oracle Corporation, Infosys Limited, TrustArc Inc., Sopra Steria Group SA, and MetricStream Inc.