Global GDPR Services Market Growth Prospects, Future Industry Landscape 2033 | The International Business Machines Corporation, Oracle Corporation, Microsoft Corporation

"The gdpr services market size has grown exponentially in recent years. It will grow from $3.03 billion in 2023 to $3.73 billion in 2024 at a compound annual growth rate (CAGR) of 23.0%. The growth in the historic period can be attributed to growing awareness of data privacy, global impact of gdpr compliance, complexity of data processing operations, penalties and legal consequences, increasing data breaches and cyber threats.

The gdpr services market size is expected to see exponential growth in the next few years. It will grow to $8.67 billion in 2028 at a compound annual growth rate (CAGR) of 23.5%. The growth in the forecast period can be attributed to evolution of data privacy regulations, increased focus on individual rights, expanding scope of personal data, globalization of data protection concerns, rising importance of data ethics. Major trends in the forecast period include technological advances and data analytics, data protection officer (dpo) outsourcing, emergence of gdpr technology solutions, focus on data subject rights management, incident response and breach management.

Market Overview -
GDPR (General Data Protection Regulation) services are a set of services designed to assist organizations in complying with the general data protection regulation (GDPR), which is a set of data protection legislation in the European Union (EU) aimed at protecting individuals' privacy and personal data.

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Gdpr Services Market Surges Amidst Growing Data Breach Concerns
The growing number of data breaches is expected to propel the growth of the GDPR services market going forward. A data breach occurs when data is stolen or taken from a computer system without the owner's knowledge or authority. It can happen through several methods, including hacking, phishing, malware, or the actual theft of devices storing sensitive information. GDPR services can assist organizations in managing data breaches in a timely and effective manner, minimizing any harm to individuals and the organization's reputation. For instance, in March 2023, according to Astra IT Inc., a US-based company in the computer network and security industry, according to data breach statistics, the data breach grew by 2.6% to $4.35 million in 2022 from $4.24 million in 2021. The average cost of a data breach for critical infrastructure organizations, on the other hand, has risen to $4.82 million. Therefore, the growing number of data breaches is driving the growth of the GDPR services market going forward.

Competitive Landscape -
Major companies operating in the gdpr services market report are The International Business Machines Corporation, Oracle Corporation, Microsoft Corporation, Micro Focus, SAP SE, Capgemini SE, Absolute Software Corporation, Trustwave Holdings Inc., Proofpoint Inc., Veritas Technologies LLC, Informatica Inc., SAS Institute Inc., Amazon Web Services Inc., Mimecast Services Limited, OneTrust LLC, Talend S.A., TrustArc Inc., Iron Mountain Inc., Hitachi Systems Security Inc., MetricStream Inc., Nymity Inc., Protegrity Corporation, Snow Software AB, Symantec Corporation, Varonis Systems Inc., Actiance Inc., Dun & Bradstreet Corporation, Broadcom Inc., Ethyca Inc., AvePoint Inc.

Cutting-Edge Technologies To Reshape The Gdpr Services Market
Technological advancements are the key trends gaining popularity in the GDPR services market. Companies operating in the GDPR services market are adopting new technologies to sustain their position in the market. For instance, in July 2021, Jolocom GMBH, a Germany-based software company, launched SmartWallet 2.0., a digital application provider that leverages blockchain technology for identity proof has released a new version of its app for storing digital assets and identification that is compliant with the European Union's General Data Protection Regulation. To ensure GDPR compliance, digital identities maintained in the app must provide users with a simple and verifiable mechanism to opt out of organizations collecting personally identifying information.

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Key Segments -
The gdpr services market covered in this report is segmented -
1) By Offering: Solutions, Services
2) By Type Of Deployment: On-Premises, Cloud
3) By Organisation Size: Large Enterprise, Small And Medium-sized Enterprises
4) By End-User Industry: BFSI, Telecom And IT, Retail And Consumer Goods, Healthcare And Life Sciences, Manufacturing, Other End Users

Subsegment : Data Management, API Management

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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