Europe GDPR Assessment Tools Market Valuable Growth Insights by 2028

Posted on 2019-04-15 by Mark Hub in Technology // 0 Comments

In order to dissert the market scenario prevailing across the global Europe GDPR assessment tools market sector, FactMR has evenly presented a new examination titled “Europe GDPR Assessment Tools Market Valuable Growth Insights by 2028 | Key Players are Snow Software AB, AlienVault Inc., Entit Software Llc, etc.”, to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the global Europe GDPR assessment tools market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.

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The EU General Data Protection Regulation (GDPR), which has superseded the Data Protection Directive 95/46/EC, aims at harmonizing data privacy laws across Europe.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 FactMR 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.

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.

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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.

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.

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.

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