GDPR Services Market Key Drivers, Business Insights, Trends And Forecast

Market Dynamics

With the rising need to become compliant with GDPR, demand for various GDPR solutions and services is increasing. This, in turn, is serving as a significant factor for the growth of the market. Over the last three years, businesses that were not compliant with the GDPR have had to pay substantial penalties. For example, in July 2019, British Airways was fined USD 223.5 million (proposed penalty by ICO) by the United Kingdom’s Information Commissioner’s Office (ICO) for a data breach under GDPR. The fine amounted to 1.5% of British Airways’ annual global turnover in 2017. The fine was levied after the ICO investigation found that the company did not take strict security measures to secure the personal data of approximately 500,000 customers. Weak security arrangements to secure customer information have resulted in the loss of personal data to half a million customers of the airline. Therefore, in order to avoid such high penalties, companies are restructuring their business operations. This, in fact, drives the overall market for GDPR services.

Get Free Sample Copy Report @ https://www.marketresearchfuture.com/sample_request/7189

Market Segmentation

The global GDPR services industry has been segmented into type, organization size, and vertical.

By type, the global GDPR services market has been segmented into solution and service. Solutions are further divided into data management and API management. Services are further segmented into GDPR readiness assessment and DPIA, DPO-as-a-Service, and others. The solution segment accounted for a higher market share of 64.2% in 2018; the CAGR is projected to be 22.8% in the forecast period. The service segment is expected to post a higher CAGR of 24.3%.

By organization size, the global GDPR services market has been segmented into small and medium enterprises and large enterprises. The large enterprise segment accounted for a more significant market share in 2018, is expected to register a CAGR of 22.9% during the forecast period. The SME segment is expected to post a higher CAGR of 24.5%.

Browse Full Report Details @https://www.marketresearchfuture.com/reports/gdpr-services-market-7189

About Market Research Future:

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

Contact:

Market Research Future

528, Amanora Chambers, Magarpatta Road, Hadapsar

Pune – 411028, Maharashtra, India

Email: sales@marketresearchfuture.com

About This Author

Techfuture Joined: October 1st, 2020