Europe leads in GDPR assessment tools growth since the European Union adopted GDPR in May 2018. Its impact is also spreading globally.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, September 20, 2023/EINPresswire.com/ -- The global GDPR assessment tools market is worth US$ 33.3 Million as of now and is expected to reach US$ 721 Million by the year 2033 at a whopping CAGR of 36% between 2023 and 2033.

There would be nothing to stop GDPR Assessment Tools market from growing unabated in the forecast period as organizations would continue to use GDPE Assessment tools for assessing the compliance status, identify areas of enhancement, and incorporate alternations needed for improvement.

The IDPC (Information and Data Protection Commissioner) conducted a survey that stated that the majority of 259 SMEs were in the middle-high range of knowledge regarding issues related to GDPR. The IDPC, along with the Malta Chamber of SMEs and the Malta Employers’ Association, commissioned this survey as a part of a wider effort to raise awareness about GDPR amongst the business community and public.

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The organizations are thus making provisions for GDPR training tools for provisions. Such tools are inclusive of interactive quizzes, courses, and other learning materials. Ultimately, security vulnerabilities could be identified, GDPR compliance could be tracked, and data protection policies could be assessed.

GDPR (General Data Protection Regulation) was implemented in 2018. The basic objective is to declare the rights of the citizens of the EU to protect the privacy of their information. The regulation thus gives contractors, customers, prospects, individuals, and employees greater power over data and deprives organizations of the power to collect data for financial gain.

The pandemic did prove to be a blessing in disguise to the GDPR assessment tools market as remote working asked for a higher degree of personal data protection.

Research states that close to 160K data-breach notifications have been received by the European authorities in the last 1.5 years since the execution of GDPR.

Future Market Insights has entailed these findings with future perspectives in its latest market study entitled ‘GDPR Assessment Tools Market’. It has its team of analysts and consultants to look through an eagle’s eye view in its primary, secondary, and tertiary modes of research.

“GDPR, in the EU, does govern citizens’ privacy and also affects every organization that processes personal information from the EU citizens, irrespective of location. As per the regulation, non-compliant businesses do face exorbitant fines, which could amount to 4% of yearly global revenue.

Key Takeaways from GDPR Assessment Tools Market Report:

The organizations are under the likelihood of assessing their compliance with GDPR using various automated tools. These tools, using ML and AI, do identify as well as flag potential non-compliance issues in documents as well as other data sources.
Spanish data protection authority (known as AEPD), in September 2022, released a tool called ‘Evalua Riesgo’ for analyzing risk factors linked with personal data processing. As such, DPIAs (Data Protection Impact Assessments) could be conducted at a fast pace through it; and safeguards and measures could be suggested for mitigating residual risks, thereby letting organizations assess the intrinsic risks concerned with data processing activities in a non-exhaustive, preliminary manner.

Competitive GDPR Assessment Tools

The key participants in GDPR Assessment Tools Market include Commvault Systems Inc., Softcat Plc, Mimecast Services Ltd., IBM Corporation, Microsoft Corporation, and likewise.
The participants mentioned above are into various modes of expansion like new product launches, mergers, acquisitions, partnerships, joint ventures, and likewise to strengthen their foothold in GDPR Assessment Tools Market.
What does the Report assess?

The research study is based on deployment (on-premises and cloud-based), service (consulting, training, implementation and integration, and support and maintenance), tool (privacy impact assessment tool, data inventory and mapping automation tool, readiness and accountability tool, incident and breach management tool, subject access rights portal tool, website scanning and cookie compliance tool, vendor risk assessment tool, and consent management tool).

The prevalence of cybercrimes will continue to drive the GDPR Assessment Tools Market in the forecast period.

Leading Key Players in the GDPR Assessment Tools Market:

Commvault Systems Inc.
Softcat Plc
Mimecast Services Limited
IBM Corporation
Microsoft Corporation
Others.

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GDPR Assessment Tools Market Segmentation:

By Deployment:

On-Premises
Cloud-Based

By Service:

Consulting
Training
Implementation and Integration
Support and Maintenance

By Tool:

Privacy Impact Assessment Tool
Data Inventory and Mapping Automation Tool
Readiness and Accountability Tool
Incident and Breach Management Tool
Subject Access Rights Portal Tool
Website Scanning and Cookie Compliance Tool
Vendor Risk Assessment Tool
Consent Management Tool

Author By:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients. 

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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