The Europe Privacy Management Software Market would witness market growth of 37.2% CAGR during the forecast period (2023-2030).
Privacy management software is the emergence of corporate intelligence, expert systems, data visualizations, and the numerous internet hazards that have transformed the sector. Concerns regarding data security & privacy, as well as compliance with the most recent security legislation, are important factors that greatly impact the market. The market may benefit from monitoring questionable data transfers and controlling illegal activities that violate data governance regulations. Additionally, the market could gain from significant firms and businesses integrating the software to protect internal data.
Other reasons anticipated for increase in market demand include the collection of vast amounts of data, distributing privacy policies, the adoption of bring-your-own-devices (BYOD), and remote work. The market can benefit from the drive for corporate transparency and adherence to rules & regulations for lowering business risks.
Organizations must now protect sensitive or private information in many ways since they must engage in attentiveness in keeping correct records of personal data and the transmission or handling of the information. Due to the rising advocacy and awareness, more pressure is being put on the companies to give the customer transparency in exactly how the data is being used. This eventually will result in high adoption of privacy management software, thereby leading to market’s growth.
Although difficult to measure, cybercrime has been estimated to cost the U.K. $30 billion annually. According to the Ministry of Economy and Industry Foreign Trade Commission, Germany's awareness of the need for efficient cyber security solutions is growing. On a political & economic level, respectively. The BMI (Ministry of the Interior) has been developing a five-year plan for Germany's cyber security every five years since 2011. The plan evaluates Germany's state of cyber security and establishes a tactical framework for the government's operations therein. This includes well-equipped law enforcement and efficient safeguards for vital infrastructure, businesses, and private individuals. With the expansion of cybersecurity measures and risks, this market in this region is expected to increase significantly.
The Germany market dominated the Europe Privacy Management Software Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.6 billion by 2030. The UK market is anticipated to grow at a CAGR of 36% during (2023 - 2030). Additionally, The France market would witness a CAGR of 38.2% during (2023 - 2030).
Based on Application, the market is segmented into Data Discovery & Mapping, Data Subject Access Request (DSAR), Consent & Preference Management (CPM), Privacy Impact Assessment (PIA), Incident & Breach Management, Vendor & Third-Party Risk Management and Others. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into on premise and Cloud. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Government & Defense, Healthcare & Lifesciences, Retail & Ecommerce, Manufacturing and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Privacy Management Software Market is Projected to reach USD 26.1 Billion by 2030, at a CAGR of 37.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAP SE, OneTrust, LLC, Securiti, Inc., BigID, Inc., Egnyte, Inc., WireWheel, Inc., Truyo (IntraEdge, Inc.), DataCo GmbH, Exterro, Inc. (Leeds Equity Partners, LLC).
By Application
By Enterprise Size
By Deployment Type
By Vertical
By Country
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