GDPR SERVICES MARKET ANALYSIS

GDPR Services MarketSize and Trends

The global GDPR services market size was valued at USD 1,186.5 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 22.45% from 2023 to 2030. The GDPR Service market is driven by the need for data processing transparency, rising workloads relating to big data and demand for advanced solutions. Moreover, the rise in cyber-attacks and increasing adoption of GDPR compliance for enhanced security are also expected to fuel the market growth.  The stringent laws that have been introduced in the Europe region to protect the personal information of users is also driving growth of the market.

The global GDPR services market report is segmented into Type of Deployment, Offering, Organization Size, and End-User Industry.

Based on Type of Deployment, the market is segmented into On-premise, Cloud. Out of which, On-Premise is expected to dominate the global market over the forecast period and this is attributed to the flexibility offered by on-premise deployment for customizing the services according to the specific requirements, privacy needs, and data security of the company. These services are mainly deployed locally on the servers and computers of customer’s company premise. Various benefits offered by this deployment method is driving its demand, which in turn is expected to support growth of the segment.

Cloud segment is also expected to witness significant growth in the near future and this is owing to the growing expenditure on cloud services by several enterprises. The growing use of cloud-based services has positively impacted the way businesses are running. It has changed operating models, as it reduced cost related to infrastructure. Thus, growing expenditure for cloud services is likely to fuel growth of the market in the coming future.

Global GDPR Services Market Trends:

Increasing adoption of cloud services is a major trend

During the COVID-19 pandemic, several businesses adopted work from home module. Thus, several companies adopted cloud services to continue business operations. This however, led to increased cybersecurity concerns and created challenges for organizations in terms of data protection. Several organizations did not have the architecture to enable easy access to the systems, which suggested that the having localized copies of data required to be accessed by employees is the only way to apply work from home module. Thus, several companies adopted cloud services. And for protecting the data on cloud servers, the demand for GDPR increased. As several companies are still offering work from home module post pandemic, the trend is likely to continue in the market in the coming future.

Rise in investment for R&D for innovations is a growing trend

Market players are increasingly adopting strategic collaboration to raise funds for research and development activities of automated and advanced technologies intended for managing high volume of unstructured and structured data. The increased in level of funds for R&D proficiencies are likely to create way for innovations in IT. Growing integration of technologies such as machine learning and artificial intelligence, with increasing digital transformation among industries is expected to drive growth of the GDPR services market during the forecast period.