According to the Market Statsville Group (MSG), the global GDPR software market size is expected to grow from USD 1,919.50 million in 2022 to USD 15,066.36 million by 2033, growing at a CAGR of 20.6% from 2023 to 2033. The increasing concerns over data privacy and security and increasing cloud adoption across the world has augmented the growth of GDPR software market. Moreover, this technological advancement has resulted in the faster transfer of phishing emails, bots, and ransomware, indicating the vulnerabilities that are brought in by them. These factors are also expected to motivate enterprises and organizations to deploy data governance tools and GDPR services in the industry. With growing issues about data privacy and security, GDPR services are expected to see a major increase in demand. The number of reported cybersecurity incidents has risen dramatically in recent years, emphasizing the need of data security and protection efforts. Several enterprises are operating remotely in the midst of the COVID-19 crisis, and a large segment of the public relies on mobile applications to keep track of COVID-19 scenarios, teleconferencing, file sharing, and enterprise-grade authentications. Particularly in commercial or corporate applications, a significant volume of user data is transmitted. It is critical to ensure GDPR compliance for applications that serve the EU region or house data servers in international locations.

Definition of the Global GDPR Software Market

The GDPR rule applies to all corporations operating in European Union member states, as well as entities situated outside the EU that offer goods and services to EU businesses and customers. As a result, all multinational corporations must comply with the GDPR on a worldwide scale. GDPR regulations apply to both controllers and processors, therefore cloud computing is not exempt. Photos, names, addresses, and other sensitive data such as biometric data, genetic data, and so on are all considered personal data under the GDPR framework.

GDPR is projected to have an influence on a variety of functions within a company, including product development, human resources, and sales and marketing. As a result, businesses are simplifying their operations in order to comply with GDPR reforms. GDPR also emphasizes risk management, requiring a risk assessment as well as a data protection impact assessment (DPIA) when there is a high data protection risk. Companies are paying a lot of money to guarantee that they are following the rules. For assessing, implementing, and planning GDPR compliance, these considerations are pushing the adoption of GDPR software and tools.

COVID-19 Impact on the Global GDPR Software Market

The COVID-19 pandemic is expected to create a recession in global economies, as most of the economies will witness a negative growth in 2020. Manufacturing sector to retail and hospitality sector, everything has been impacted by this pandemic disease. However, some industries are anticipated to gain traction during this pandemic, among which, the data center protection industry will gain a slight positive growth in 2020 and subsequent years.

The implementation of lockdown has encouraged the ‘work from home’ trend across the globe. With the rapid increase in ‘work from home’ facility, the demand for data centers protection and cyber security, especially cloud-based data centers increased during April-May 2020. Working from home has burgeoned the demand for GDPR-based solutions as well as cloud solutions, especially Software as a Service (SaaS), which in turn, has increased the traffic to data centers. Through general data protection regulation software, the companies were able to manage their data from a remote location due to data center networks working full throttle. Therefore, amidst the COVID-19 pandemic, the GDPR is being classified as one of the essential services in IT firms. The emergence and acceptance of the new normal, with the continuous rise in adoption of cloud and acceleration of digitization, have now gradually become the pillars of the business continuity strategies for the post-Covid-19 world.

Global GDPR Software Market Dynamics

Drivers: Growing proliferation for wearable devices

Growing demand for IoT devices will pave the way for market growth Sensors, actuators, gadgets, appliances, or machines that are designed for specific uses and may broadcast data via the internet or other networks are examples of IoT devices. They can be embedded into other mobile devices, industrial equipment, environmental sensors, medical devices, and more. With the increased Internet of Things (IoT) devices, the vulnerability and exposure to diverse cyber-attacks have increased. This also generates enormous data that is to be secured and managed as per General Data Protection Regulation Act. This, in turn, surges the demand for the GDPR software to analyse data as per GDPR act to prevent legal compliances.

Furthermore, IoT devices use AI and machine learning to bring intelligence and autonomy to systems and processes, such as autonomous driving, industrial smart manufacturing, medical equipment, and home automation. This will generate huge data for the companies and may threaten the privacy of the users. However, companies need to follow GDPR norms and manage data accordingly. The GDPR norms are lengthy and time-consuming to go through whole data and follow GDPR norms, thus, resulting in increased demand for the GDPR software to determine the regulation compliances and manage the data accordingly. This will fuel the growth of the market across the globe in forthcoming years.

Restraints: Lack of awareness and implementation in other regions

The lack of awareness regarding the GDPR-based software, to manage the operation as per GDPR norms, will hamper the growth of the market in the forecasting period. In addition, companies operating in Europe faces lawsuit challenges due to lack of awareness regarding the GDPR norms. Hence, lack of awareness will restrict the growth of the market over the forecast period.

Furthermore, the companies in the Europe won’t be able to collaborate with other companies at global level due to GDPR guidelines, as various companies in different regions doesn’t follow GDPR norms which will restrict European companies to collaborate with such companies. And the European government has mandated the GDPR regulations for the companies operating in the region. This in turn restrained the growth of the market, owing to the lack of awareness and restrictions in collaboration with other market operators at global level.

Opportunities: Increasing demand for Telemedicine

Increasing telemedicine demand will surge the demand for the GDPR software, to enhance the privacy and security of users. Telemedicine services include transmission of information about patients' health through text, sound, images, and other data forms for the prevention, diagnosis treatment, and follow-up of the patient. The use of telemedicine services contributes to health improvement and its application should be considered favourably. However, it is necessary to be aware that the use of different telemedicine solutions includes the processing of patients' data. Thus, this issue should be considered from the perspective of data protection. Despite the fact that the use of telemedicine services will positively make changes in the relationship between the health care professional and patient that should not negatively affect persons' rights to data protection.

Thus, the applications offering must follow GDPR norms. In order to meet the GDPR norms companies have to manage huge data as per guidelines. Hence, companies use GDPR software to effectively manage data, which in turn saves time, eliminate human error and safeguard companies from any compliances raised due to data breach associated to GDPR norms. A forementioned factors will elevate the demand for the market resulting in market’s growth in forthcoming years.

Scope of the Global GDPR Software Market

The study categorizes the GDPR software market based on type, and application at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

• On-premises
• Cloud Based

By Application Outlook (Sales, USD Million, 2019-2033)

• Large Enterprises
• SMEs

By Region Outlook (Sales, USD Million, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Large Enterprises segment accounts for the largest market share by application

Based on the application, the market is divided into large enterprises and SMEs. The large enterprises segment is expected to dominate the market share in 2022 in the global GDPR software market. The large enterprises segment currently dominates the market share in the GDPR software market. GDPR software is a privacy management tool that helps manage customer data, consent forms, and data security. The increasing number of large enterprises all around the world has boosted the market over the forecasting period all around the world. According to static world There were estimated to be approximately 351,520 large companies that employed 250 or more people worldwide in 2021, compared with 337,523 in 2020. And increasing privacy concern in these enterprises has also boosted the market growth.

North America is expected to witness the largest market share by Region

Based on the regions, the global GDPR software market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. The region's development opportunity is driven by key businesses' strong presence and increased investment. Because customers are becoming more aware of data privacy laws, the United States is expected to lead the category. The California Consumer Privacy Act is considered to be the first step towards more strict data protection legislation in the United States.

Competitive Landscape: Global GDPR Software Market

The GDPR software market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global GDPR software market are:

• SAP
• Microsoft
• IBM
• SAS Institute
• Oracle
• Onetrust
• Informatica
• Proofpoint
• Broadcom (Symantec)
• Smarsh (Actiance)
• Snow Software
• Talend
• Swascan
• AWS
• Micro Focus
• Mimecast
• Protegrity
• Capgemini
• Hitachi Systems Security
• Absolute Software
• Metricstream

Recent Development

• In February 2022, IBM is focusing in creating a unique method to reduce the amount of personal data required to train machine learning models and preserve high levels of accuracy. The aim of machine learning is to achieve the highest level of accuracy in predictions or classifications, regardless of the amount of data used.
• In January 2022, Talend announced a strategic partnership with Carahsoft Technology Corp. This collaboration is anticipated to assist state, municipal, and federal government organisations with their digital transformation goals, addressing data protection and quality concerns, and offering engaging services to residents. For local, state, and federal agencies, the partnership has helped bring clean, complete, and uncompromised data to the center of government modernization efforts.
• In October 2021, OneTrust announced a partnership with Snowflake?, the data cloud company, to extend native Snowflake support for scanning and classification. OneTrust DataDiscoveryT seamlessly integrates with Snowpark (and Java/Scala UDFs) to enhance the way data engineers and data scientists connect, identify sensitive data, and scan to help companies manage regulatory requirements.
• In August 2021, Proofpoint a leading cybersecurity and compliance company was acquired by Thoma Bravo, a leading software investment firm. It announced the completion of Thoma Bravo’s acquisition of Proofpoint for approximately $12.3 billion in cash.
• In November 2019, TrustArc acquired Nymity, a fellow developer in the privacy solutions market. Their vision is to combine the best privacy research, data subject rights solutions and assessment tools from Nymity with intelligent privacy automation platform from TrustArc to deliver novel approaches to enable organizations of any size, fresh, sector, or region to tackle their data more effectively.

Key Issues Addressed

• What is the market size by various segmentation of the GDPR software by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the GDPR software market?
• What are the key opportunities and trends for manufacturers involved in the GDPR software supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of GDPR software in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.