At CAGR of 13.7% Privacy Management Software Market Size is Anticipated to Gain US$ 1,585.9 Mn by 2027 Globally-Report by The Insight Partners

New industry research report namely Global Privacy Management Software Market Size, Share, Growth, Industry Trends and Forecast to 2028-COVID-19 Impact and Global Analysis - by Deployment, Application, Deployment, and Vertical," the market was valued at US$ 521.3 Mn in 2021 and is projected to reach US$ 1,585.9 Mn by 2027; it is expected to register a CAGR of 13.7% from 2021 to 2028. With snow balling volume and prominence of data that the modern information system maintains, privacy and security breach pose an augmenting threat not only to users, but also to system operators and designers. The organizations are thriving for the software that would enable them to implement their tasks without too much interference, however in case of misbehavior the software must be capable of hold the user accountable. The rising demand for accountability is therefore enforcing the organizations to adopt privacy management software that would allow them to maximize their autonomy and capture their accountability. This will drive the privacy management software market in the forecast period. Since the formal introduction of GDPR, the privacy management software market has already seen other regions move to instate their own legislation, including California, South America and Asia Pacific.

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The Privacy Management Software Market report focuses on the overall consumption structure, development trends, sales models, and sales of top countries in the global Cloud Computing market. The report offers a complete market outlook and development rate during the past, present, and the forecast period. It offers a concise study of well-known providers, market value, volume, price trends, competition, and development opportunities. The versatile and up-to-date information on the market is provided in this report. The study comprises a summary of important data considering the geographical terrain of the industry as well as the industry players in the market.

New market initiatives were observed as the most adopted strategy in global privacy management software market. Few of the recent market initiatives are listed below:

2019: BigID announced its partnership with Immuta, for delivering an integrated solution for the automation of privacy centric data science initiatives.

2019: OneTrust completed acquisition of DataGuidance. An integration of OneTrust and DataGuidance, the clients has an access on actionable information related with changing legal and compliance frameworks globally and tools to execute and monitor the compliance.

2018: The Everton FC club selected SureCloud's GDPR Suite. The company offered its cloud-based suite of solutions to the club with an aim to control and monitor the data and GDPR compliance.

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Browse In-Depth TOC On "Privacy Management Software Market"

110 - Market Data Tables
82 - No. of Charts & Figures
197 - Pages

The Key Payers Operating in the Global Privacy Management Software Market are AvePoint,BigID, Inc., IBM Corporation, Nymity Inc., OneTrust, LLC, Protiviti Inc., RSA Security LLC, LogicGate, Inc., SureCloud, TrustArc Inc. Major players in the market have adopted product launch and business expansion as their key developmental strategies to offer better products and services to customers in the Privacy Management Software industry.

The privacy management software market has recently witnessed a significant adoption in European countries such as UK, France, Italy, and others. The growth in adoption of the privacy management software is attributed to several factors such as Changing regulations and Norms in favor of market growth and growing awareness towards data privacy among consumers.

There has been constant advancements in the privacy management software market. For instance, in 2019 OneTrust works with Adobe to reveal new mobile tools to encourage marketing and privacy professionals in understanding potential privacy risks and opportunities. The new Mobile App Privacy Health Check offers deeper vision into the technologies which they are utilizing to power the customer's mobile experiences.

The report segments the global privacy management software market as follows:

Global Privacy Management Software Market - By Deployment Type
On-Premise
Cloud

Global Privacy Management Software Market - By Organization Size
Small & Medium Enterprise
Large Enterprise

Global Privacy Management Software Market - By Application

Compliance Management
Risk Management
Reporting & Analytics
Others

Global Privacy Management Software Market - By Industry Vertical
Telecommunication & IT
BFSI
Government & Defense
Others

Global Privacy Management Software Market - By Geography

North America
U.S.
Canada
Mexico

Europe
France
Germany
Italy
Netherland
U.K.
Rest of Europe

Asia Pacific (APAC)
Australia
China
India
Japan
South Korea
Rest of Asia Pacific

Middle East and Africa (MEA)
South Africa
Saudi Arabia
UAE
Rest of MEA

South America (SAM)
Brazil
Argentina
Rest of SAM

Impact of COVID-19 Pandemic on Privacy Management Software Market
The COVID-19 pandemic has been affecting most of the business globally. The continuous growth in the number of virus-infected patients compelled governments to put a bar on the transportation of humans and goods. The lockdown imposition has resulted in the lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities.

The COVID-19 pandemic has forced businesses to find new alternatives for speedy recovery and attention to the urgent need to access enough data in crisis times. Further, banks have transitioned to remote sales and service teams and launched digital outreach to customers to make flexible payment arrangements for loans and mortgages. Grocery stores have shifted to online ordering and delivery as their primary business. Schools in many locales have adopted online learning and digital classrooms. These approaches have resulted in the rise of quantity and variety of business data. Thus, growing need for business agility and data accessibility and increasing demand for real-time streaming analytics are among the factors contributing to the growth of the Privacy Management Software market.

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