The EU General Data Protection Regulation (GDPR), which has superseded the Data Protection Directive 95/46/EC, aims at harmonizing data privacy laws across Europe. With GDPR becoming the standard of reliability among consumers, with regard to their personal data’s privacy, there has been a rise in number of service providers of GDPR assessment tools in Europe. GDPR assessment tools have gained high demand recently as, aiding the businesses in achieving 100% GDPR compliance.
GDPR assessment tools market is envisioned to witness a rapid rise, driven by the requirement for the regulation of data processing apropos of an individual, company, or organization. Mandates on compliance of GDPR to not only EU organizations, but also non-EU companies operating in Europe or handling clients in Europe, will further proliferate expansion of the GDPR assessment tools market. Growing cyber-crime prevalence and privacy concerns with regard to personal data, which have made enforcement of GDPR essential, will continue to be one of the key growth determinants for the GDPR assessment tools market.
The GDPR assessment tools market is envisaged to record a spectacular 35.6% CAGR between the forecast period 2018 and 2028, according to a recent Fact.MR study. Albeit rising anxiousness across the IT and relevant business sectors is considered as a key concern, GDPR assessment tools market will be substantially underpinned by high penalties imposed on organizations that do not comply with GDPR.
Exorbitant Emphasis on Data Protection Advocating Essentiality of GDPR Assessment Tools
Proliferation of the internet across the globe has meant that concerns apropos of personal data, its protection and privacy have become exorbitant. Recent privacy issue crisis, such as that of Facebook, has led consumers to rethink on sharing their personal information with online portals. GDPR assessment tools are therefore gaining tremendous momentum in Europe, facilitating regulation of data privacy and protection.
Growth of the GDPR assessment tools market will continue to be significantly driven by requirement of German businesses to gain intelligence on their customer data’s location, which is an imperative need when customers demand deletion of their data. Organizations are continuously seeking GDPR assessment tools providers, as understanding data controllers & processors currently fall among their top priorities as well as is a key prerequisite of GDPR.
GDPR Assessment Tools Market: Expeditious Requirement of GDPR Assessment Tools among Non-compliant Organizations Creating Lucrative Avenues
Nearly half of the organizations in Europe are not yet compliant to GDPR, although they have been preparing for the same since 2016 – when the law was approved. These organizations are therefore rapidly seeking GDPR assessment tools on account of the complexity and extensive steps involved in the compliance process. With absolute data control being sought-after among the GDPR non-compliant organizations, for maintaining their market reputation and preventing the associated penalties, growth of the GDPR assessment tools market will witness significant momentum in the forthcoming years.
Amid swelling expansion of modern businesses, there has been a dramatic evolution in the IT industry, which in turn has made data distribution rigorous and data mapping challenging. GDPR assessment tools are likely to witness robust adoption among these businesses, as they lack intelligence on data storage location, and data transmission, and therefore are vulnerable to threats of data breach. The need for identifying dishonest business processes, which result in contractual risk with suppliers of unsanctioned IT, will further continue to fuel growth of the GDPR assessment tools market in Europe.
GDPR Assessment Tools Market: Adoption in Social Media & Digital Marketing and Penetration of Cloud-based Tools to Emerge as Key Trends
Complexity of the GDPR has intensified the cloud technology service platforms, leading the cloud-reliant businesses to comply with GDPR for ensuring their data practices. Lower percentile of identification of GDPR’s impact on the cloud-based services among IT organizations is a major focus area for GDPR assessment tools providers. As personal data sharing is a default procedure for cloud-service providers assisting organizations, their services are required to be unique to comply with GDPR. GDPR assessment tools providers are therefore introduced cloud-based tools to tap the potential opportunities in the area, thereby supporting growth of the GDPR assessment tools market.
High penalties associated with non-compliance of GDPR, organizations and businesses are seeking GDPR assessment tools to facilitate the compliance process and maintain their reputation and brand management. Digital and social media marketing platforms have been witnessing automation in recent years, which in turn has created the need for declaration of data management activities with consent. This has further driven demand for GDPR assessment tools in social media and digital marketing, wherein data management in the marketing processes is bound to adhere to GDPR. This, coupled with rapid rise of the digital and social media marketing, will substantially fuel growth of the GDPR assessment tools market in the near future.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
Detailed Competitive Landscape – Highlighting the Europe GDPR Assessment Tools Market Participants
Fact.MR has come up with an interesting research report on GDPR assessment tools market with an explicit focus on the European region. The research report includes assessment on various participants involved in the GDPR assessment tools market along with interesting morsels of data on tier-1 players competing in the market. The chapter on competitive landscape in the GDPR assessment tools research report reflects the market share assessment of key companies involved in the market. The dashboard view of the GDPR assessment tools leading manufacturers depicts a clear picture by magnifying all key components associated with GDPR assessment tools market with respect to competition.
Detailed profiling of top players involved in the Europe GDPR assessment tools market has been done in the research report to provide a high level of clarity on the value propositions that the key companies are offering. Information enclosed in this chapter on competitive profiling includes list of operational facilities country wise along with analysis on key financial scenarios of these companies and key developments in the offing with respect to GDPR assessment tools.
Detailed Segmentation of GDPR Assessment Tools Market
In order to understand the complete GDPR assessment tools market and its performance across various European countries, the report on GDPR assessment tools market reflects a thorough market segmentation. In-depth value and volume projections on every segment and across every country have been covered in the report. The report on GDPR assessment tools market has been segmented on the basis of service type, enterprise size type, deployment type, end use industry, tools type and country.
Detailed Coverage of GDPR Assessment Tools Market: Underlying Factors Influencing Revenue Growth
The report on GDPR assessment tools market includes a detailed coverage on various underlying aspects that can potentially influence the adoption of GDPR assessment tools across European countries during the forecast period, 2018-2028. Various dynamics such as drivers fuelling growth, trends and opportunities shaping the future of GDPR assessment tools market and challenges and restraints inhibiting the growth of GDPR assessment tools market have been analyzed across various countries and presented in a systematic format in the report. Moreover, a thorough analysis on GDPR assessment tools ecosystem has also been included along with the GDPR roadmap for organizations. Furthermore, the report includes Porter’s Five Forces Model along with PESTEL analysis and a value chain analysis.
PESTEL analysis reveals all the external forces or macroeconomic forces that impact the growth of the GDPR assessment tools market. The research report on GDPR assessment tools market puts forth an exhaustive forecast analysis of GDPR assessment tools with respect to adoption based on three possibilities – a positive scenario, a conservative scenario and a probable scenario. Market revenue share and price point analysis by country in the EU is included in this extensive research report.
Intensive Supply and Demand Analysis to Obtain Trajectory of Growth of GDPR Assessment Tools Market
The study on GDPR assessment tools market has been analyzed across major countries in the European Union to understand the performance of the GDPR assessment tools market. With a detailed country-wise analysis, the reader can gain insights on the revenue pockets in Europe that can act as potential growth influencers in the coming years. Further, the report tracks all end use applications of GDPR assessment tools across European countries with a year-on-year projection throughout the period of assessment.
Unique Research Methodology for Precise Revenue Estimations of GDPR Assessment Tools Market
The research report on GDPR assessment tools market has been tracked across major European countries to obtain performance quotient of GDPR assessment tools apropos of sales and demand. This has been possible using an extensive research methodology that includes primary and secondary research. The process starts with a secondary research initiation post which primary research is carried out to gain deep dive into the GDPR assessment tools market. Insights and data gained from secondary research is validated through primary research interviews. This process continues till the conclusion of the research process, which increases the accuracy of the obtained data, in turn increasing the credibility of the research. Using this methodology, various metrics are also obtained including, CAGR, Y-o-Y (Year-on-Year) growth rate, market attractiveness indices as well as absolute and incremental opportunity.
A Systematic Report Structure
The research report on GDPR assessment tools market is systematically structured that focuses on each element of GDPR assessment tools market in dedicated sections. Moreover, the report beings with executive summary which encapsulates all main factors of the GDPR assessment tools market in a nutshell, along with key metrics with respect to the GDPR assessment tools market. This section functions as a beneficial starting point for readers who can gain crystal clear insights in a gist on the GDPR assessment tools market and can further navigate to specific sections in a seamless manner to obtain further clarity. That said, the report is designed in a way to offer maximum intelligence on GDPR assessment tools market making it convenient for the reader to grasp all the vitals of the market and plan future moves.
Fact.MR offers custom research services that help clients to get specific research solutions
We are committed towards customer satisfaction and quality service.