Europe GDPR Assessment Tools Market: Overview
The Europe General Data Protection Regulation (GDPR) assessment tools market is anticipated to gain momentum in its growth with increase in the number of service providers. Privacy of personal data in the region could be largely assessed on the basis of GDPR since it is gradually gaining popularity as a reliability standard among consumers. Businesses have been using the assessment tools to achieve 100% GDPR compliance. As a result, the region is expected to witness high demand in the market during the course of the forecast period 2018-2028. Need for GDPR assessment tools is anticipated to see a rise with increasing use of internet raising the risk of personal data attacks.
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Europe GDPR Assessment Tools Market: Trends and Opportunities
An aggressive rise in the growth of the Europe GDPR assessment tools market could be testified in the coming years with increasing regulation of data processing apropos of an organization, a company, or an individual. The expansion of the market could further gain support from mandates on GDPR compliance for both EU and non-EU organizations managing clients or operating in Europe. One of the important growth factors of the market could be rising personal data privacy concerns and incidence of cybercrimes, which have increased the need for GDPR implementation. Organizations usually face high penalties for not complying with GDPR.
Europe GDPR Assessment Tools Market: Market Potential
Players are envisaged to take advantage of the growing demand for GDPR assessment tools in digital and social media marketing, where marketers are required to manage data while adhering to GDPR. Rising automation in digital and social media marketing could fuel this demand in the foreseeable future.
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If only slightly, Facebook has recently suffered a tangible impact of the Europe GDPR as it is said to have lost almost one million monthly active users. However, this may not be a trend, and even be a modest dip considering the protracted effects of the Cambridge Analytica scandal. Nevertheless, the social media company may have to walk a fine line because Europeans are usually more sensitive about internet privacy issues.
Europe GDPR Assessment Tools Market: Regional Outlook
German companies have been focusing on obtaining intelligence on customer data location, which could prove to be crucial when a customer asks for the deletion of their data. As a significant GDPR prerequisite and top priority of most organizations, understanding data controllers and processors could be a leading factor augmenting the demand for GDPR assessment tools. The Europe market for GDPR assessment tools is prophesied to gain impetus with demand growing on the back of increasing concerns related to data uploaded on social media sites such as Facebook.
Close to 50% of all organizations in Europe are not yet GDPR-compliant. This could intensify the demand for GDPR assessment tools because of the extensive steps and complexity involved in the compliance process. Non-GDPR-compliant organizations are under some pressure to avoid penalties and maintain their market reputation while achieving absolute data control. In this regard, it could be said that the growth of the Europe GDPR assessment tools market may receive a strong push in the near future.
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Europe GDPR Assessment Tools Market: Companies Mentioned
The Europe GDPR assessment tools market marks the presence of leading players such as Commvault Systems Inc., Softcat Plc, Mimecast Services limited, IBM Corporation, and Microsoft Corporation.
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