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GDPR is the most impactful privacy regulation that affects global organizations. It makes the organizations entities responsible for privacy and security of personal information. The regulation focuses on the concept of individual rights to be upheld while processing personal data. A maximum fine of 4% of global turnover is an important consideration as it directly impacts the organizational profitability. Associated reputational impact and loss in shareholder value would increase the residual risk that organizations need to manage.
The Global GDPR Services Market is expected to reach USD 4271.5 million by 2025 from USD 765.2 million in 2017 and is projected to grow at a CAGR of 23.98% in the forecast period of 2018 to 2025
Global GDPR Service Market – Analysis and Forecast (2018 – 2024) Industry Insights by Offering (Solutions (Data Management and API Management) and Services (Managed Services and Professional Services), by Application (Large Enterprises and Small and Medium Enterprises)
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Global GDPR Service Market – Analysis and Forecast (2018 – 2024) Industry Insights by Offering (Solutions (Data Management and API Management) and Services (Managed Services and Professional Services), by Application (Large Enterprises and Small and Medium Enterprises)
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.
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General data protection regulation (GDPR) ensures that businesses protect the European Union (EU) citizens’ data for any transaction in the EU member states. The organizations doing business in Europe must adhere to this set of regulations. If organizations fail to comply with the regulations, they have to pay a considerable fine resulting in legal proceedings and reputational damage.
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Data Protection Officer's (DPO) role is to maintain data privacy, compliance, and protection by the standard GDPR curated by national and international law.