Published Date: 30-Aug-2023
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According to a new report, published by KBV research, The Global Privacy Management Software Market size is expected to reach $26.1 billion by 2030, rising at a market growth of 37.8% CAGR during the forecast period.
The Data Discovery & Mapping segment is leading the Global Privacy Management Software Market by Application in 2022; thereby, achieving a market value of $6.7 billion by 2030. Identifying and locating personal data within a company's systems, databases, files, and repositories is known as data discovery. It entails learning about the categories of personal data that are gathered, handled, and stored and the places where this data is stored. Data discovery is crucial for enterprises to fully comprehend the personal data they handle and associated privacy threats.
The Small & Medium Enterprises segment is exhibiting a CAGR of 40.1% during (2023 - 2030). Companies classified as SMEs have less than 1,000 employees. SMEs know the value of data privacy and the necessity of complying with legal regulations. SMEs are realizing the need to invest in privacy management software as privacy concerns continue to rise as they try to safeguard consumer data, improve their reputation, and gain a competitive advantage.
The On-premise segment acquired maximum revenue share in the Global Privacy Management Software Market by Deployment Type in 2022; thereby, achieving a market value of $14.2 billion by 2030. Data control, customization, and adherence to internal policies are prioritized by organizations using on-premises privacy management software. They are ready to assume the burden of administering the software and infrastructure to retain total control over their privacy management procedures. Before choosing an on-premises deployment strategy, it is crucial to carefully evaluate the organization's needs, resources, and capabilities.
The Healthcare & Lifesciences segment is showcasing a CAGR of 39.4% during (2023 - 2030). With the rising digitalization of the healthcare sector, the risk of data breaches and cybercrimes has surged. Privacy management software is essential in healthcare, where patient privacy and data protection are the highest priority. Privacy management software is crucial in the healthcare sector to protect patient data, manage permission, provide secure data sharing, handle privacy incidents, maintain accountability, and manage data subject rights.
The North America region dominated the Global Privacy Management Software Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9.8 billion by 2030. The Europe region is anticipated to grow at a CAGR of 37.2% during (2023 - 2030). Additionally, The Asia Pacific region would experience a CAGR of 38.8% during (2023 - 2030).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Enterprise Size
By Deployment Type
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