The global GDPR services market is estimated to be USD 907.4 million in 2018 and is expected to reach USD 2,659.4 million by 2023, at a Compound Annual Growth Rate (CAGR) of 24.0% during the forecast period. The major drivers of the GDPR services market include the implementation of GDPR by the EU from May 2018, generation of enormous amounts of data, need for data security and privacy, and the demand for data processing transparency leading to improved security service delivery along with the organizationís reputation.
Key market players profiled in this report include Absolute Software (Canada), Actiance (US), AWS (US), Capgemini (France), Hitachi Systems Security (Canada), IBM (US), Informatica (US), MetricStream (US), Micro Focus (UK), Microsoft (US), Mimecast (UK), Nymity (Canada), OneTrust (US and UK), Oracle (US), Proofpoint (US), Protegrity (US), SAP (Germany), SAS (US), Snow Software (Sweden), Swascan (Italy), Symantec (US), Talend (US), TrustArc (US), Trustwave (US), Varonis (US), and Veritas (US). These players offer GDPR services to cater to the needs and demands of the market. They have adopted various growth strategies, such as partnerships, agreements and collaborations, business expansions, and new product launches to strengthen their presence in the market. New product launches have been the major strategic trend of key players in the market, followed by partnerships, agreements, and collaborations.
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Veritas provides solutions and services for data visibility, data protection, digital compliance, data and workload portability, business continuity, and storage optimization. Veritasí 360 Data Management for GDPR delivers a compliance solution that accounts for regulations and guidelines and enforces customers with an assured governance approach. The 360 Data Management and its components directly help businesses manage the rapidly increasing varieties and volumes of data across heterogeneous platforms including physical and virtual infrastructure and cloud platforms to comply with regulations.
IBM has a strong foothold over its security offerings. The company provides security solutions and services for mobile devices, fraud protection, network protection, data and application protection, threat intelligence, end-point security, and IAM. The company identified massive opportunities in the GDPR market and launched new capabilities within its IBM Resilient Incident Response Platform a year ahead of the 2018 deadline to make their clients GDPR-compliant. Additionally, the company banks on a combination of its Systems Storage product portfolio and Spectrum software suite to accumulate the required infrastructure and storage capabilities that customers need to adhere to GDPR regulations. IBM emphasizes the customerís business, making it GDPR compliant. For example, IBM is collaborating with Rabobank, the Dutch multinational bank and financial services company, to comply with the new financial regulations in the EU using cryptographic pseudonyms on client's personal data.
GDPR Services Market by Solution (Data Discovery and Mapping, Data Governance, and API Management), Service (GDPR Readiness Assessment, Risk Assessment and DPIA, and DPO-as-a-Service), Organization Size, and Region - Global Forecast to 2023
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