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Key Trends Reshaping the General Data Protection Regulation Services Market: Advanced Technology In The General Data Protection Regulation Services Market Industry Transformation
General Data Protection Regulation Services Market
General Data Protection Regulation Services Market Size Growth Forecast: What to Expect by 2025?
The market for general data protection regulation services has experienced significant expansion recently. The market, estimated to be around $2.39 billion in 2024, is projected to rise to $2.91 billion in 2025, with a compound annual growth rate (CAGR) of 22.0%. Factors such as the rising concerns about data privacy and security breaches, enhanced cross-border data transfers due to globalization, the surge in digitalization of organizational operations, identification of the necessity for unified data protection regulations, as well as high-profile incidents of data breaches drawing regulatory scrutiny have contributed to the growth witnessed in the historical period.
How Will the General Data Protection Regulation Services Market Size Evolve and Grow by 2029?
The market size for general data protection regulation services is predicted to experience significant growth in the years ahead, reaching a value of $7.2 billion in 2029 at a compound annual growth rate of 25.4%. This projection for the forecast period is linked to changes in the regulatory environment and its enforcement, persistent expansion in data-centric technologies, increasing focus and understanding of personal privacy rights, broader adoption of cloud computing and data analytics, and a surge in mobile phone usage. Looking ahead, prominent trends include the creation of innovative encryption and data protection technologies, incorporating privacy by design principles into software creation, the regular use of data protection impact assessments, extending GDPR compliance services to include new technologies, and a rising need for third-party GDPR compliance evaluation and certification.
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What Drivers Are Propelling the Growth of General Data Protection Regulation Services Market Forward?
The surge in the number of cyberattacks is anticipated to drive the expansion of the general data protection regulation services market in the future. A cyber-attack constitutes an unauthorized attempt to infiltrate a computer, computing system, or computer network, aiming to inflict harm. Such attacks offer hackers the opportunity to breach a person's or corporation's financial accounts by using sensitive information, amongst several other potentially harmful actions. General Data Protection Regulation services (GDPR) ensure a safe method to guard sensitive information against unauthorized access, theft, or exposure. For example, the Australian Cyber Security Centre, a security agency based in Australia, reported in February 2023 that they had received 76,000 reports of cybercrimes in 2022, marking a 13% increase from the previous year.
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Which Emerging Trends Are Transforming the General Data Protection Regulation Services Market in 2025?
The growing trend towards the adoption of cutting-edge technology is becoming increasingly prominent in the general data protection regulation services market. Key players in the market are striving to develop innovative technological solutions to solidify their market standing. For example, in July 2022, GhangorCloud, a cybersecurity firm based in the USA, introduced a unique platform named CAPE, short for Compliance and Privacy Enforcement. This ground-breaking compliance and data privacy solution features patented intelligent automation capable of enforcing consumer data privacy requirements in a cost-effective manner. Utilizing AI and featuring an eDiscovery engine, the platform can autonomously identify and classify content, creating privacy enforcement policies without human involvement. The CAPE platform facilitates real-time automation of numerous tasks including data discovery, compliance, and privacy enforcement, effectively overcoming obstacles linked with contemporary data compliance and privacy schemes to ensure efficient and precise operations.
What Are the Key Segments in the General Data Protection Regulation Services Market?
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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Who Are the Key Players Shaping the General Data Protection Regulation Services Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in the General Data Protection Regulation Services Market?
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
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