The "GDPR Services Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The GDPR Services market was valued at USD 1183.2 million in 2019 and is expected to reach USD 4364 million by 2025, at a CAGR of 24.3% over the forecast period 2020 - 2025.
In the nearly two years, since the regulations came into effect, maintaining and establishing GDPR compliance has become a key challenge for organizations worldwide that hold data on EU citizens. Research conducted in 2019 by security software supplier Egress suggests that more than half of UK businesses were not compliant with the GDPR.
Veritas Technologies LLC
Amazon Web Services Inc.
Micro Focus International PLC
DXC Technology Company
Tata Consultancy Services Limited
Larsen & Toubro Infotech Limited
Key Market Trends
Healthcare and Life Sciences Industry to Hold Significant Market Share
IoT has a lot of applications in healthcare, from remote monitoring to medical device integration. It also has the potential to not only keep patients healthy and safe but to improve how physicians deliver care, as well. However, IoT also creates the need for data governance for the healthcare sector. The industry struggles with the massive amount of data produced by sensors, wearables, remote monitors, and other medical devices.
Moreover, with the increased Internet of Things (IoT) devices, the vulnerability and exposure to diverse cyber-attacks have increased. In the context of the digital transformation of healthcare in Europe, there is a rapid growth of wearables and connected medical devices that enable remote health monitoring.
Moreover, According to the European Telecommunications Network Operators' Association (ETNO), the number of IoT units in healthcare in the European Union (EU) is expected to increase year-on-year, hence boosting the market growth in the industry.
With the technological advancements in data transfers, cloud services are becoming more common. Public cloud has been emerging. This technological advancement has resulted in the faster transfer of phishing emails, bots, and ransomware, indicating the vulnerabilities that are brought in by them. These factors are also expected to motivate enterprises and organizations to deploy data governance tools and GDPR services in the industry.
Europe Occupy Significant Market Share
Europe is anticipated to witness a significant share for GDPR services due to the high acceptance of the GDPR in the region. The regulation forces companies in these countries to comply with it.
European privacy authorities have received nearly 65,000 data breach notifications since the EU's new privacy law went into full effect until May 2019. Also, regulators in 11 European countries have imposed USD 63 million in GDPR fines.
In the United Kingdom, the number of data breach notifications has dropped by 17% to 11,499. In contrast, numbers almost doubled in France, with a 97% increase to 2,287, and soared in Spain, reporting 1,608 notifications, representing a 58% increase compared to the first year of GDPR.
In April 2019, the new Cyber Security Law was introduced to broaden the existing regulation scope and introduce GDPR-type fines for certain violations. Such an increase in government regulations' stringency is expected to push the organizations in Germany to adopt cybersecurity solutions.
Post-GDPR coming into effect, France introduced major reforms associated with cybersecurity policies. For instance, the telecommunication companies are allowed to scan their networks for technical clues of any anticipated or on-going attack. In some cases, telecom companies may also need to inform their customers of any unwanted cyber-attacks.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Impact Of COVID-19 On the GDPR Services Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.2 Market Restraints
6 MARKET SEGMENTATION
6.1 By Type of Deployment
6.2 By Offering
6.2.1 Data Management
6.2.2 Data Discovery and Mapping
6.2.3 Data Governance
6.2.4 API Management
6.3 By Organization size
6.3.1 Large Enterprises
6.3.2 Small and Medium-sized Enterprises
6.4 By End User
6.4.1 Banking, Financial Services, and Insurance (BFSI)
6.4.2 Telecom and IT
6.4.3 Retail and Consumer Goods
6.4.4 Healthcare and Life Sciences
6.4.6 Other End-user Industries
6.5.1 North America
6.5.4 Latin America
6.5.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles*
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/4q3ya2
View source version on businesswire.com: https://www.businesswire.com/news/home/20201023005289/en/
Laura Wood, Senior Press Manager
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