The global GDPR Services Market is estimated to be valued at US$ 1452.87 Mn or Bn in 2023 and is expected to exhibit a CAGR of 22.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
GDPR services help organizations maintain compliance and address risks related to data security and privacy as per the GDPR regulations. These services ensure protection of individuals' rights and freedoms with regard to processing of personal data and ensure its free movement.
Market key trends:
The growing demand for AI-driven GDPR solutions is the primary trend driving growth of the GDPR services market. AI can automate various tasks related to GDPR compliance like discovery of personal data, monitoring of consents, and identification and response to data subject requests. AI algorithms can analyze huge volumes of structured and unstructured data at high speed to ensure GDPR compliance. Moreover, AI assists in identifying privacy risks and problems in a cost-effective manner. Furthermore, integration of AI with existing systems makes GDPR compliance smooth and enhances privacy management.
Segment Analysis
The global GDPR services market is segmented into type, services, organization size, vertical and region. Based on type, the market is bifurcated into solutions and services. Out of these, the solutions segment dominates the market due to the growing need to implement GDPR standards among organizations to avoid huge penalties associated with non-compliance. Solutions assist organizations in identifying gaps and helps comply with GDPR regulation in an easy and cost-effective manner.
Key Takeaways
The Global GDPR Services Market Size is expected to witness high growth, exhibiting CAGR of 22.% over the forecast period, due to increasing data privacy concerns among consumers and strict regulations.
Regional analysis shows that Europe holds the largest market share due to early adoption of GDPR norms and stringent regulations. However, Asia Pacific is expected to witness the fastest growth rate due to rising adoption of advanced technologies and growing concerns over data privacy.
The global GDPR services market size is expected to reach US$ 1452.87 Mn by 2023. Key players operating in the GDPR services market are Infosys Limited, IBM Corporation, Larsen & Toubro Infotech Limited, Veritas Technologies LLC, Tata Consultancy Services Limited, Amazon Web Services Inc., Atos SE, Microsoft Corporation, Accenture PLC, Micro Focus International PLC, DXC Technology Company, Oracle Corporation, Wipro Limited, SAP SE, SecureWorks Inc., and Capgemini SE. These players are focusing on various organic and inorganic growth strategies to strengthen their market position.
Read more: https://www.ukwebwire.com/gdpr-services-market-insights-trends/
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