North America GDPR Services Market, By Offering (Solutions, Services), Deployment Model (Cloud, On-Premises), Organization Size (Large Scale Organizations, Medium Scale Organizations, Small Scale Organizations), End-Use (BFSI, Government, Retail & E-Commerce, Healthcare, Education, Manufacturing, Others) - Industry Trends and Forecast to 2030.
North America GDPR Services Market Analysis and Size
GDPR services are an integral part of compliance in the North America market especially related to the mandate for data compliance regarding data security, privacy, and data management. The increasing demand for data processing transparency, the rising generation of an enormous amount of data, and the increasing requirement for data security and privacy is expected to drive the market's growth. However, the high implementation cost associated with GDPR compliance services, over regulations for GDPR services, and the complexity involved in GDPR services for the cloud-based ecosystem are expected to act as a restraint for the market.
Data Bridge Market Research analyses that the North America GDPR services market is expected to reach a value of USD 3,376,766.74 thousand by 2030, at a CAGR of 23.6% during the forecast period. The North America GDPR services market report also comprehensively covers pricing analysis, patent analysis, and technological advancements.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customisable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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By Offering (Solutions, Services), Deployment Model (Cloud, On-Premises), Organization Size (Large Scale Organizations, Medium Scale Organizations, Small Scale Organizations), End-Use (BFSI, Government, Retail & E-Commerce, Healthcare, Education, Manufacturing, Others)
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Countries Covered
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U.S., Canada and Mexico.
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Market Players Covered
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IBM Corporation, Oracle, Microsoft, Micro Focus, SAP SE, Capgemini., Absolute Software Corporation, Trustwave Holdings, Inc., Dun & Bradstreet, Inc., Proofpoint, Inc., Veritas, Informatica Inc., SAS Institute Inc., Broadcom., Amazon Web Services, Inc., Mimecast Services Limited, Protegrity Inc., OneTrust, LLC., Talend, TrustArc Inc, Varonis, and Iron Mountain Incorporated among others
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Market Definition
General Data Protection Regulation (GDPR) is a legal framework that includes a set of guidelines for the collection and processing of personal information from people. It does so via in-depth, historical data, and verifiable projections, qualitative perceptions about market size. GDPR was implemented by the European Parliament, which was a significant step in data regulation, privacy, and protection. There are some of the important privacy and data protection arrangements of the GDPR, which include requiring the consent of subjects for data processing, anonymizing collected data to protect privacy, and providing data breach notifications.
North America GDPR Services Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
- Increasing demand for data processing transparency
There is a continuous generation of data worldwide which leads to an increase in demand for data privacy, protection, and transparency. Data transparency given by the organization to users is very much important to make users feel safe about their data. For instance, in October 2022, the United Nations Human Right Office of the High Commissioner released a report regarding data transparency. In this report, they have urged various administrators to view the guiding principles which are mentioned in their report, as they are a key structural part of every national legal system that regulates the actions of controllers and processors in the processing of personal data.
- Implementation of the GDPR by the EU
In April 2016, the European Union adopted the General Data Protection Regulation (GDPR), which is the data protection law enforcement directive and other rules concerning the protection of personal data. This step taken by the EU has majorly affected the organization's data policies and governance. Now, organizations cannot share user data with third parties, and if they want to share the users' data, they need to take permission from users. If they fail to do so, organizations have to pay a heavy fine, damaging operating profit margins. Hence, this regulation is all about data privacy, protection, and management, which is driving the growth of the GDPR services market.
- Rising generation of an enormous amount of data
There is a continuous increase in data generation in various regions across the globe as the high influence of social media on the young generation. People are posting stories and tweets on Instagram, Twitter, and Facebook in high volume on a daily basis. There is an increasing trend of video uploading on YouTube, which is creating a huge amount of data. This large amount of data generation is needed to monitor and manage. And hence the GDPR comes into focus. A heavy amount of data generation is expected to drive the growth of the North America GDPR services market.
Opportunity
- Growing adoption of GDPR compliance services in healthcare and retail sectors
There is rising adoption of GDPR services in the retail and healthcare sector. GDPR requires users to take a significant approach to data privacy and data governance. Retailers should establish effective data privacy programs. In October 2022, Comtecinfo organization released a significant report regarding GDPR in the retail sector. In this report, they mentioned that the retail industry depends on data to make strategic decisions. Companies rely on data to make informed business decisions using a single and trusted source of information about products and customers.
Restraint/Challenge
- The high implementation cost of GDPR services
There is a high implementation cost of GDPR services which is hindering the profit growth of organizations. Organizations have to update the databases as per the new rules of GDPR, and they don't have to share the user's data with third-party organizations without the approved permission of users. If they do so, they have to pay heavy penalties and fines to the government. Hence, this shows that the high implementation cost of GDPR services hinders the growth of the North America GDPR services market.
- Strict adoption of system audit & assessment; API compliance management
GDPR is a regulation imposed by European Union. These regulations have specific rules that are non-profitable for the organizations. The EU's authorities said GDPR was designed to "harmonize" data privacy laws across all of its member countries and provide healthier protection and rights to individuals. GDPR was also generated to alter how businesses and other organizations can handle the data of those that interact with them. They have also specified that there is room for the potential for large fines and reputational damage for those organizations found in breach of the rules.
Post-COVID-19 Impact on North America GDPR Services Market
The North America GDPR services market noted a gradual increase in demand due to the lockdown and COVID-19 as the mandate set by the EU for GDPR compliance for data management and handling. This compliance further strengthened its root as during the lockdown, the cyber threats skyrocketed. This led to the strict adoption of GDPR compliance among companies operating in Europe, and fines were imposed on companies for failing to meet the compliance requirement.
Recent Developments
- In January 2023, Microsoft announced that it had extended a partnership with OpenAI to initiate an acceleration of AI breakthroughs to confirm that these benefits are broadly shared with the world. This collaboration helped the company's financials, and it made a positive impact on the growth of the North America GDPR services market
- In December 2022, IBM Corporation acquired Octo, which is a U.S.-based IT modernization and digital transformation services provider. This acquisition helped enhance its finances and made a positive impact on the growth of the North America GDPR services market
North America GDPR Services Market Scope
The North America GDPR services market is segmented on the basis of offering, deployment model, organization size, and end-use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
By Offering
- Solutions
- Services
On the basis of offering, the market is segmented into solutions and services.
By Deployment Model
- Cloud
- On-Premises
On the basis of the deployment model, the market is segmented into on-premises and cloud.
By Organization Size
- Small Scale Organizations
- Medium Scale Organizations
- Large Scale Organizations
On the basis of organization size, the market is segmented into small scale organizations, medium scale organizations, and large scale organizations.
By End-Use
- BFSI
- Government
- Retail & E-Commerce
- Healthcare
- Education
- Manufacturing
- Others
On the basis of end use, the market is segmented into BFSI, healthcare, manufacturing, retail and e-commerce, government, education, and others.
North America GDPR Services Market Regional Analysis/Insights
North America GDPR services market is analyzed, and market size insights and trends are provided by offering, deployment model, organization size, and end-use as referenced above.
The countries covered in the North America GDPR Services market report are the U.S., Canada, and Mexico.
The U.S. is expected to dominate the North America GDPR services market due to the increasing adoption of GDPR services by large-scale enterprises and the rising demand for data management and API management.
The region section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North American brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and North America GDPR Services Market Share Analysis
North America GDPR Services Market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the North America GDPR services market.
Some of the major players operating in the North America GDPR services market are IBM Corporation, Oracle, Microsoft, Micro Focus, SAP SE, Capgemini., Absolute Software Corporation, Trustwave Holdings, Inc., Dun & Bradstreet, Inc., Proofpoint, Inc., Veritas, Informatica Inc., SAS Institute Inc., Broadcom., Amazon Web Services, Inc., Mimecast Services Limited, Protegrity Inc., OneTrust, LLC., Talend, TrustArc Inc, Varonis, and Iron Mountain Incorporated among others.
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