Market Size of GDPR Services Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 3.33 Billion |
Market Size (2029) | USD 11.30 Billion |
CAGR (2024 - 2029) | 27.66 % |
Fastest Growing Market | North America |
Largest Market | Europe |
Major Players*Disclaimer: Major Players sorted in no particular order |
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General Data Protection Regulation (GDPR) Services Market Analysis
The GDPR Services Market size is estimated at USD 3.33 billion in 2024, and is expected to reach USD 11.30 billion by 2029, growing at a CAGR of 27.66% during the forecast period (2024-2029).
As a result of increased connection and ongoing digitization, businesses are producing an exponential amount of data. People who visit places and websites or even make phone calls leave a digital footprint as data, a valuable resource businesses can utilize to engage with customers and provide a better user experience. Because of the increased demand for characteristics such as privacy, security, authenticity, legality, trust, universality, and scalability in organizational operations and quality monitoring, the GDPR services industry has a lot of room to develop.
- Argentina's Access to Public Information Agency has begun the consultation process to update its Personal Data Protection Law. The reforms are heavily based on the rules of the EU General Data Protection Regulation. Similarly, in September, Australia's second-largest telecommunications firm, Optus, had a significant data breach, prompting MPs to pass the Privacy Legislation Amendment Bill of the last year, which boosts fines to AUD 50 million when companies suffer repeated data breaches.
- Socially engineered cyber attacks targeting enterprise users are growing significantly. Among some of the significantly widespread campaigns spotted on the internet to date have been fraudulent emails indicated to be coming from the World Health Organization (WHO) and the US Center for Disease Control (CDC). The building domain names that look similar to the CDC's official web address aim at stealing passwords and even request bitcoin "donations" to fund a fake vaccine. Such instances have been increasing the demand for market studies.
- Further, there has been a rise in connected devices over the last few years. According to Cisco Systems, M2M connections are expected to reach 2.1 billion units in the last year. Cloud services are becoming more familiar with technological advancements in data transfers. The public cloud has been emerging. This technological advancement has resulted in the faster transfer of phishing emails, bots, and ransomware, indicating the vulnerabilities that they bring in.
- There has been a rise in the cybersecurity budget changes in response to the pandemic, triggering GDPR services. According to a survey by Microsoft Corporation of 800 business leaders during a pandemic, 36% of the respondents suggested an increase in the cybersecurity budget by 1-25%, and about 22% said that the budget increased by over 25% to combat the pandemic. The pandemic has brought a sharp focus to the balance that GDPR strikes between the rights of individuals and society. The global authorities are changing their guidelines to deal with data protection and privacy.
- On the flip side, the European Union General Data Protection Regulation (GDPR) confronts cloud service providers and customers with new requirements, such as the right to erasure, rectification, and portability, which is challenging to implement and implement not only from a technical perspective. Another new aspect appears with the model for shared responsibility regarding protecting personal data along the whole cloud supply chain. In a nutshell, the cloud customer remains accountable towards the data subject to an extent as they must fulfill the GDPR requirements.
General Data Protection Regulation (GDPR) Services Industry Segmentation
The General Data Protection Regulation (or GDPR for short) is a European Union-approved statute. It replaced an earlier regulation, the Data Protection Directive, and was designed to govern how businesses receive and utilize personal data collected from customers online. It also has regulations governing how information is transported, partially or totally, by automated means.
The GDPR Services Market can be Segmented by Deployment Type (On-premise, Cloud), Offering (Data Management, Data Discovery and Mapping, Data Governance, API Management), by Organization size ( Large Enterprises, Small and Medium-sized Enterprises), by End-user Industry (Banking, Financial Services, and Insurance (BFSI), Telecom and IT, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing), and by Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
By Type of Deployment | |
On-premise | |
Cloud |
By Offering | |
Data Management | |
Data Discovery and Mapping | |
Data Governance | |
API Management |
By Organization size | |
Large Enterprises | |
Small and Medium-sized Enterprises |
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 |
Geography | |
North America | |
Europe | |
Asia-Pacific | |
Latin America | |
Middle East & Africa |
GDPR Services Market Size Summary
The GDPR Services Market is poised for substantial growth, driven by the increasing need for data protection and privacy in the digital age. As businesses generate vast amounts of data through digital interactions, the demand for GDPR services is rising to ensure compliance with regulations that emphasize privacy, security, and data governance. The market is experiencing a surge in demand due to the proliferation of connected devices, cloud services, and the growing threat of cyberattacks. These factors have prompted organizations to invest in GDPR services to safeguard sensitive information and mitigate the risks associated with data breaches. The pandemic has further accelerated this trend, as companies reassess their cybersecurity budgets and prioritize digital transformation efforts to enhance data protection measures.
Europe is expected to dominate the GDPR services market, given its strong regulatory framework and high adoption of GDPR compliance measures. The region's commitment to data protection has led to a significant increase in data breach notifications and regulatory fines, underscoring the importance of GDPR services. As organizations in Europe and beyond strive to harness emerging technologies while ensuring compliance, the demand for robust data management tools is on the rise. Major players in the market, such as IBM, Microsoft, and AWS, are actively innovating and expanding their offerings to meet the growing needs of businesses seeking to navigate the complexities of data protection regulations. This competitive landscape is driving strategic collaborations and technological advancements, further propelling the growth of the GDPR services market.
GDPR Services Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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2. MARKET SEGMENTATION
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2.1 By Type of Deployment
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2.1.1 On-premise
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2.1.2 Cloud
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2.2 By Offering
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2.2.1 Data Management
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2.2.2 Data Discovery and Mapping
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2.2.3 Data Governance
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2.2.4 API Management
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2.3 By Organization size
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2.3.1 Large Enterprises
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2.3.2 Small and Medium-sized Enterprises
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2.4 By End User
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2.4.1 Banking, Financial Services, and Insurance (BFSI)
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2.4.2 Telecom and IT
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2.4.3 Retail and Consumer Goods
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2.4.4 Healthcare and Life Sciences
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2.4.5 Manufacturing
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2.4.6 Other End-user Industries
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2.5 Geography
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2.5.1 North America
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2.5.2 Europe
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2.5.3 Asia-Pacific
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2.5.4 Latin America
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2.5.5 Middle East & Africa
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GDPR Services Market Size FAQs
How big is the GDPR Services Market?
The GDPR Services Market size is expected to reach USD 3.33 billion in 2024 and grow at a CAGR of 27.66% to reach USD 11.30 billion by 2029.
What is the current GDPR Services Market size?
In 2024, the GDPR Services Market size is expected to reach USD 3.33 billion.