Press release
General Data Protection Regulation Services Market Set to Reach $7.2 Billion by 2029 with 0.253743363337626% Yearly Growth
General Data Protection Regulation Services Market
The anticipated growth of the general data protection regulation services market is likely to be fueled by a rise in cyberattacks. A cyber-attack is essentially an unauthorized intrusion into a computer, computing system, or computer network with the intention of inflicting damage. Such attacks potentially facilitate hackers to access sensitive information, leading to unauthorised entry into an individual's or business's financial accounts, among other detrimental consequences. General Data Protection Regulation Services (GDPR) offer an effective solution to safeguard sensitive information from unauthorised access, theft, or exposure. For example, the Australian Cyber Security Centre, a cyber security agency based in Australia, reported in February 2023 that they received 76,000 cybercrime reports in 2022, which is a 13% increase from the prior year.
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What is the future CAGR of the general data protection regulation services market, and how will it impact industry expansion?
The market size for general data protection regulation services has witnessed impressive expansion in the recent past. Its growth trajectory is set to persist, growing from $2.39 billion in 2024 to $2.91 billion in 2025, delivering a compound annual growth rate (CAGR) of 22.0%. Several key factors have motivated the surge in the historic period, notably concerns about data privacy and security breaches, the increasingly global nature of data transfers, an upswing in the digitization of business operations, a recognized need for regulating data protection standards, and major data breaches and incidents drawing regulatory attention.
The forecast for the general data protection regulation services market size points towards an immense expansion in the upcoming years. The market is anticipated to reach $7.2 billion in 2029 with a compound annual growth rate (CAGR) of 25.4%. Factors contributing to this advancement in the forecast period include an evolving regulatory scenario and enforcement strategies, persistent development in data-based technology, an elevated focus on individual privacy rights, amplified adoption of cloud computing and data analytics, a rise in mobile phone usage. Key trends projected for the forecast period are the evolution of advanced encryption and data protection technologies, the incorporation of privacy by design principles in software development, the rise of data protection impact assessments as standard practice, the broadening of GDPR compliance services to include emerging technologies, and an escalating demand for third-party GDPR compliance auditing and certification.
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What are the most significant trends transforming the general data protection regulation services market today?
The general data protection regulation services market is witnessing a mounting trend towards the adoption of innovative technologies. Prominent corporations in this market are endeavoring to create fresh technological solutions to bolster their competitive edge. In an example from July 2022, GhangorCloud, a US-based firm specializing in cybersecurity solutions, introduced a unique platform called CAPE - Compliance and Privacy Enforcement. CAPE is a ground-breaking solution that combines compliance and data privacy, deploying patented intelligent automation to comply with consumer data privacy requirements in a remarkably affordable way. Utilizing AI and integrating an eDiscovery engine, it can independently recognize and classify content, thus creating privacy enforcement policies without human oversight. CAPE provides real-time automation for a range of tasks including data discovery, compliance, and privacy enforcement, adeptly tackling issues associated with contemporary data compliance and privacy systems to guarantee efficient and precise operations.
Which key market segments comprise the general data protection regulation services market and drive its revenue growth?
The general data protection regulation services market covered in this report is segmented -
1) By Type of Deployment: On-Premise, Cloud
2) By Offering: Data Management, Data Discovery And Mapping, Data Governance, API Management
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By End User: Banking, Financial Services, And Insurance (BFSI), Telecom And IT, Retail And Consumer Goods, Healthcare And Life Sciences, Manufacturing, Other End-User Industries
Subsegments:
1) By On-Premise: In-House GDPR Compliance Solutions, On-premise Data Management Tools
2) By Cloud: Cloud-Based GDPR Compliance Solutions, SaaS GDPR Tools, Managed Cloud Services For GDPR
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What regions are at the forefront of general data protection regulation services market expansion?
North America was the largest region in the general data protection regulation services market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the general data protection regulation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the general data protection regulation services market?
Major companies operating in the general data protection regulation services market include International Business Machines Corporation, Veritas Technologies LLC, Amazon Web Services Inc., Microsoft Corporation., Micro Focus International plc, Absolute Software Corporation, Capgemini SE, Informatica Inc., Iron Mountain Incorporated, Mimecast Services Limited, Oracle Corporation., Proofpoint Inc., SAS Institute Inc., Varonis Systems Inc., Talend Inc., Trustwave Holdings Inc., Dun & Bradstreet Inc., Protegrity Inc., OneTrust LLC, TrustArc Inc., SurfShark Ltd., Data Protection Agency, Symphony Technologies Pvt. Ltd., HCL Technologies Ltd., accenture* Plc, Baker & McKenzie International, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, Klynveld Peat Marwick Goerdeler., PricewaterhouseCoopers., SAP SA
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What Is Covered In The General Data Protection Regulation Services Global Market Report?
•Market Size Forecast: Examine the general data protection regulation services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the general data protection regulation services market for a structured understanding.
•Key Players Overview: Analyze major players in the general data protection regulation services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the general data protection regulation services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the general data protection regulation services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the general data protection regulation services market.
•Industry Challenges: Identify potential risks and obstacles affecting the general data protection regulation services market.
•Competitive Landscape: Review strategic developments in the general data protection regulation services market, including expansions, agreements, and new product launches.
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