According to a research report "Privacy Management Software Market by Application (Data Discovery & Mapping, DSAR, PIA, Consent & Preference Management), Deployment Mode, Organization Size (Large Enterprises, SMEs), Vertical and Region - Global Forecast to 2028" published by MarketsandMarkets, the privacy management software market size is expected to grow from USD 2.7 billion in 2023 to USD 15.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 41.9% during the forecast period. The rapid growth of digital financial services and growing incidences of data theft and data breaches is likely to boost the adoption of privacy management software globally.
Browse 251 market data Tables and 50 Figures spread through 246 Pages and in-depth TOC on "Privacy Management Software Market by Application (Data Discovery & Mapping, DSAR, PIA, Consent & Preference Management), Deployment Mode, Organization Size (Large Enterprises, SMEs), Vertical and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/privacy-management-software-market-60397848.html
By application, the incident & breach management segment is expected to grow at a higher CAGR during the forecast period.
Incident and breach management refers to the processes and procedures that organizations put in place to effectively handle and respond to security incidents and data breaches handle and respond to security incidents and data breaches effectively. These incidents can range from unauthorized access to systems, data leaks, malware attacks, or any other security event that compromises the confidentiality, integrity, or availability of sensitive information. Effective incident and breach management is essential for minimizing the impact of security incidents, protecting sensitive data, and maintaining the trust of customers and stakeholders. Organizations often use incident response management tools and technologies to streamline and automate incident handling processes, ensuring a swift and coordinated response to security incidents.
By Organization Size, large enterprises hold the largest market size during the forecast period.
Enterprises with more than 1,000 employees are considered large enterprises. The adoption of privacy management software among large enterprises has been significant, driven by several factors related to regulatory compliance, data protection, risk management, and organizational efficiency. The adoption of privacy management software among large enterprises has been significant, driven by several factors related to regulatory compliance, data protection, risk management, and organizational efficiency. Privacy management software offers numerous benefits for large enterprises as they navigate complex regulatory landscapes, handle vast amounts of data, and manage privacy risks across their organizations. The adoption of privacy management software among large enterprises has been significant, driven by several factors related to regulatory compliance, data protection, risk management, and organizational efficiency.
By Region, Asia Pacific is expected to grow at a higher CAGR during the forecast period.
Asia Pacific region comprises of China, Japan, India, and rest of Asia Pacific region. The Asia Pacific region is the fastest growing region in the global privacy management software market. The Asia Pacific region has witnessed a rapid shift towards digital transformation, with increased internet connectivity, smartphone penetration, and e-commerce adoption. This digitalization has resulted in the generation, collection, and storage of vast amounts of personal data by organizations. Consequently, there is a heightened need to protect individuals' personal information from unauthorized access, misuse, and exploitation. In October 2022, Australian health insurance provider Medibank suffered a data breach which that impacted over 9.7 million people. The hacker posted patients’ personal medical information. This is likely to boost the adoption of privacy management software in the region.
Some of the key players operating in the privacy management software market are - OneTrust (US), TrustArc (US), Securiti (US), BigID (US), Exterro (US), SAP (Germany), IBM (US), Collibra (US), DataGuard (Germany), and LogicGate (US).
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]