GDPR Software Market worth USD 15,066.36 million by 2033

The Market Statsville Group (MSG) publishes the new report on the "GDPR Software Market by Type (On-premises, Cloud Based), by Application (Large Enterprises, SMEs), By Region – Global Share and Forecast to 2033

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, at a CAGR of 20.6% from 2023 to 2033.

The GDPR software market consists of sales of GDPR software services by entities (organizations, sole traders, and partnerships). 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.

Global GDPR Software Market Segmentation

The overall GDPR software market has been segmented into type, application, and region.

• By Type (On-premises, Cloud Based)
• By Application (Large Enterprises, SMEs)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

SMEs segment is at the highest CAGR during the forecast period

SMEs segment is expected to grow at the highest CAGR during the forthcoming period. The SMEs category is predicted to develop faster than the big businesses segment throughout the projection period. GDPR implementation might be burdensome for Businesses with little resources or finance. GDPR may not be the most important goal for many Companies. Yet, failure to comply with GDPR might result in fines or the loss of its business license inside the EU region. The high cost of deploying GDPR solutions and services may reduce SMEs' profit margins; yet, when GDPR is implemented, some SMEs may benefit from working with MSPs to help them comply with the new regulation.

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The Europe to account for the highest CAGR during the forecast period

Over the forecast period, the Europe market is expected to grow rapidly. Due to the European Union's (EU) implementation of rigorous legislation and the presence of important GDPR service providers in the area, Europe is expected to have the largest market share during the forecast period. Businesses situated outside of the EU that do business with EU customers require GDPR services to safeguard the personal data of users and new entrants looking to expand in the EU.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the GDPR software market. It also consists of the profiles of leading companies such as 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 and Metricstream. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.

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Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.

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