Privacy Management Software Market Analysis and Demand with Forecast To 2027
Privacy Management Software Market Analysis and Demand with Forecast To 2027
Keywords - Privacy Management Software Market, Privacy Management Software Industry, Privacy
Management Software Market Research, Global Privacy Management Software Market, Privacy
Management Software Research Report
Market Analysis
The global privacy management software market size will develop at a healthy 22.8% CAGR during the
forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. Privacy
management software, put simply, is specially designed software which is developed for supporting
the privacy requirements of an enterprise. Due to the rising number of security breaches and cyber-
attacks, several organizations are adopting improved cyber security solutions to prevent the loss of
confidential data. This software helps organizations in conducting privacy impact assessments,
checking processing activities against needs from privacy regulations, and tracking incidents which
result in unauthorized disclosures of personal data (reporting, remediation, investigation).
Various factors are fuelling the global privacy management software market growth. As per the recent
MRFR market estimates, such factors include the growing concern for data privacy, the rising adoption
of BYOD (bring your own devices), data protection and governance regulations, the rising number of
cyber-attacks, the rigid government regulations over data security, and ever increasing enterprise
expenditure for data privacy. The additional factors adding market growth include the improved
accountability for ensuring data security, the rise in various laws and privacy rules for data protection,
constant research and development activities to bring the needed innovations in privacy management
software market, strict government regulations regarding data security, increasing use during COVID-
19 pandemic, and rising enterprises spending for data privacy.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global privacy management
software market based on vertical, organization size, deployment mode, and application.
By application, the global privacy management software market is segmented into reporting and
analytics, risk management, compliance management, and others. Of these, the compliance segment
will lead the market over the forecast period.
By deployment mode, the global privacy management software market is segmented into cloud and
on-premises. Of these, the cloud segment will dominate the market over the forecast period.
By organization size, the global privacy management software market is segmented into large
enterprises and small and medium sized enterprises (SMEs). Of these, the large enterprises will
spearhead the market over the forecast period.
By vertical, the global privacy management software market is segmented into BFSI, government and
defense, healthcare and pharmaceutical, food, beverages, and consumer goods, telecommunication
and IT, and others. Of these, the BFSI segment will have the lions share in the market over the forecast
period.
Regional Analysis
By region, the global privacy management software market covers the recent trends and growth
opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of
these, North America will remain the driving force in the market over the forecast period. The
presence of chief vendors in the US, the region being the hub for major organizations across the globe,
booming IoT sector, and the expansion of the retail industry are adding to the global privacy
management software market growth in the region. The US has the utmost market share.
In Europe, the global privacy management software market is predicted to hold the second-largest
share over the forecast period and at the highest CAGR for EU GDPR as well as other ePrivacy
regulations like Privacy and Electronic Communications Regulations (United Kingdom),
Telecommunications Service Companies Privacy Regulation (Germany), Information Commissioners
Office (United Kingdom), Payment Card Industry (PCI), and Healthcare Information Trust Alliance
(HITRUST). They have been issued for supplementing existing laws and regulations regarding data
privacy.
Key Players
The prominent players profiled in the global privacy management software market report include
Bwise (US), RSA Security LLC. (US), PossibleNOW, Inc. (US), MetricStream Inc. (US), LogicGate, Inc. (US),
AvePoint, Inc. (US), AURA DIFUSION S.L.(US), SureCloud (UK), TokenEx (US), 2B Advice LLC (US),
Proteus-Cyber Ltd. (UK), Protiviti Inc. (US), International Business Machines Corporation (US), BigID,
Inc. (US), SIMBUS, LLC. (US), TrustArc Inc (US), OneTrust, LLC (UK), and Nymity Inc. (US), among others.
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