Europe GDPR Assessment Tools Market: Soaring Demand Assures Motivated Revenue Share during 2018-2028 | Key Players are Forcepoint LLC, Veritas Technologies LLC, AlienVault Inc., etc.

The report studies the Europe GDPR Assessment Tools Market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions. The intelligent report also anticipates that Global Europe GDPR Assessment Tools Market would grow at a constructive CAGR until 2026. In order to study the various trends and patterns prevailing in the concerned market, Fact.MR has included a new report titled “Europe GDPR Assessment Tools Market: Soaring Demand Assures Motivated Revenue Share during 2018-2028” to its wide online database including upcoming trends and growth factors. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.

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The EU General Data Protection Regulation (GDPR), which has superseded the Data Protection Directive 95/46/EC, aims at harmonizing data privacy laws across Europe. With GDPR becoming the standard of reliability among consumers, with regard to their personal data’s privacy, there has been a rise in number of service providers of GDPR assessment tools in Europe. GDPR assessment tools have gained high demand recently as, aiding the businesses in achieving 100% GDPR compliance.

GDPR assessment tools market is envisioned to witness a rapid rise, driven by the requirement for the regulation of data processing apropos of an individual, company, or organization. Mandates on compliance of GDPR to not only EU organizations, but also non-EU companies operating in Europe or handling clients in Europe, will further proliferate expansion of the GDPR assessment tools market. Growing cyber-crime prevalence and privacy concerns with regard to personal data, which have made enforcement of GDPR essential, will continue to be one of the key growth determinants for the GDPR assessment tools market.

The GDPR assessment tools market is envisaged to record a spectacular 35.6% CAGR between the forecast period 2018 and 2028, according to a recent Fact.MR study. Albeit rising anxiousness across the IT and relevant business sectors is considered as a key concern, GDPR assessment tools market will be substantially underpinned by high penalties imposed on organizations that do not comply with GDPR.

Proliferation of the internet across the globe has meant that concerns apropos of personal data, its protection and privacy have become exorbitant. Recent privacy issue crisis, such as that of Facebook, has led consumers to rethink on sharing their personal information with online portals. GDPR assessment tools are therefore gaining tremendous momentum in Europe, facilitating regulation of data privacy and protection.

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Growth of the GDPR assessment tools market will continue to be significantly driven by requirement of German businesses to gain intelligence on their customer data’s location, which is an imperative need when customers demand deletion of their data. Organizations are continuously seeking GDPR assessment tools providers, as understanding data controllers & processors currently fall among their top priorities as well as is a key prerequisite of GDPR.

Nearly half of the organizations in Europe are not yet compliant to GDPR, although they have been preparing for the same since 2016 – when the law was approved. These organizations are therefore rapidly seeking GDPR assessment tools on account of the complexity and extensive steps involved in the compliance process. With absolute data control being sought-after among the GDPR non-compliant organizations, for maintaining their market reputation and preventing the associated penalties, growth of the GDPR assessment tools market will witness significant momentum in the forthcoming years.

Amid swelling expansion of modern businesses, there has been a dramatic evolution in the IT industry, which in turn has made data distribution rigorous and data mapping challenging. GDPR assessment tools are likely to witness robust adoption among these businesses, as they lack intelligence on data storage location, and data transmission, and therefore are vulnerable to threats of data breach. The need for identifying dishonest business processes, which result in contractual risk with suppliers of unsanctioned IT, will further continue to fuel growth of the GDPR assessment tools market in Europe.

Complexity of the GDPR has intensified the cloud technology service platforms, leading the cloud-reliant businesses to comply with GDPR for ensuring their data practices. Lower percentile of identification of GDPR’s impact on the cloud-based services among IT organizations is a major focus area for GDPR assessment tools providers. As personal data sharing is a default procedure for cloud-service providers assisting organizations, their services are required to be unique to comply with GDPR. GDPR assessment tools providers are therefore introduced cloud-based tools to tap the potential opportunities in the area, thereby supporting growth of the GDPR assessment tools market.

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