GDPR service helps organizations to secure their data and reduce various cyber-attacks, which creates a lucrative opportunity for the GDPR service market.
COVID-19 Scenario Analysis:
- Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost all countries around the globe, with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the GDPR Services market in 2020.
- Though governments have imposed lockdowns to contain spread of virus, lockdown across the globe have led many business to shift their operation online which has increased the number of cyber-attacks on organizations critical data across the globe.
- As a result, the demand of GDPR services is expected to rise and ensure the market growth.
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Rise in growth of enormous amount of data among enterprises and demand for data processing transparency are the major factors that drive growth of the GDPR services market. In addition, rise in cyber-attacks and growth in adoption of GDPR compliance for enhanced security is expected to supplement the market growth.
However, lack of expertise in managing these GDPR services and high implementation cost hamper the market growth. Furthermore, strict rules by governments of various countries to protect data is expected to provide lucrative opportunities for the market.
GDPR comprises strict rules and regulations that companies need to follow. In case of violation, companies need to pay heavy fines and even their business license can be withdrawn. This is expected to encourage organizations to invest in GDPR services and create opportunities for GDPR service providers.
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Europe is expected to have the largest market share during the forecast period, owing to implementations of strict regulations in the EU and presence of major GDPR service providers in the region.
Companies that are situated outside the EU but deal with EU based customers require GDPR services to secure personal data of users and new entrants who want to expand their businesses in EU. Hence, they need these services to abide by the GDPR law, which is expected to promote the market growth in the future.
Key benefits of the report:
- This study presents the analytical depiction of the global GDPR services market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global GDPR services market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global GDPR services market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the market.
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