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OverviewPrivacy management software prevents the flow of critical information outside the organization. They include remediation, reporting, and investigation tools which are used as per an organization's requirements and the sensitivity of the information being handled. Market Research Future (MRFR) has recently published a new report on the global privacy management software market which is a compilation of meaningful market insights that are derived from the analysis of the pertinent trends and factors affecting the market growth.
Identity theft, accidental disclosure of proprietary business information and customer information, and cyber crimes are on the rise. Moreover, in a current data-driven world, the need to safeguard important data has become more than ever important in the current landscape where BYOD trend is increasingly percolating organizations. This escalates the degree of risk that an organization is exposed to, which has prompted various organizations to deploy privacy management software.
Regulatory compliance pertaining to data privacy has become more complex than ever. Businesses need the ability to identify all the applicable laws, regulations, and frameworks that their business is exposed to, which has induced high demand within the privacy management software market.
Privacy management software is not new to the marketplace, but with recent technical additions such as expert systems, next-generation reporting, business intelligence, and data visualization, privacy management software has become more robust and helpful, thus, boosting the privacy management software market demand.
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Segmentation
The global privacy management software market has been segmented based on application, deployment mode, organization size, and vertical.
By application, the privacy management software market has been segmented into compliance management, risk management, reporting and analytics, and others.
By deployment mode, the privacy management software market has been segmented into on-premises and cloud.
By organization size, the privacy management software market has been segmented into small and medium-sized enterprises (SMEs) and large enterprises. The large enterprises segment is anticipated to capture the majority share of the market over the forecast period. Large enterprises work with colossal amounts of data which makes it impossible to keep a manual check on ever-changing data privacy regulations
By vertical, the privacy management software market has been segmented into telecommunication and IT, food, beverages, and consumer goods, healthcare and pharmaceutical, government and defense; banking, financial services and insurance (BFSI), and others.
Regional Analysis
Region-wise, the Privacy Management Software Market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America has assumed the leading position in the global privacy management software market. The clustering of major market players in the US, combined with a strong customer base in the region is favoring the growth of the market.
Europe market is anticipated to register the highest CAGR over the forecast period. Various ePrivacy regulations such as Payment Card Industry (PCI), the Healthcare Information Trust Alliance (HITRUST), Telecommunications Service Companies Privacy Regulation (Germany), Information Commissioners Office (United Kingdom), and Privacy and Electronic Communications Regulations (United Kingdom), and the recent GDPR is likely to provide massive growth opportunities to the privacy management software market in Europe. The APAC market is anticipated to follow Europe closely due to the growth of IT industry in the region.
Competitive Landscape
BigID, Inc. (US), Nymity Inc. (US), OneTrust, LLC (UK), MetricStream Inc. (US), AvePoint, Inc. (US), rustArc Inc (US), SIMBUS, LLC. (US), International Business Machines Corporation (US), Protiviti Inc. (US), Bwise (US), PossibleNOW, Inc.(US), AURA DIFUSION S.L.(US), 2B Advice LLC (US), Proteus-Cyber Ltd. (UK), RSA Security LLC.(US), SureCloud (UK), LogicGate, Inc. (US), and TokenEx (US) are the key players in the global privacy management software market.
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Industry Updates
May 2019 - OneTrust announced the release of its new update to OneTrust’s privacy management, third-party risk, security, and marketing solutions. OneTrust 5.0 includes new programs to understand program maturity and benchmarking and is capable of automating consumer request completion via OneTrust’s Targeted Data Discovery, automating third-party vendor risk lifecycle, and centrally managing policy and notices across platforms.
Intended Audience
• Government Agencies
• Privacy Management Software Service/Solution Providers
• Financial Advisory/Consulting Firms
• System Integrators
• Research Institutes and Organizations
• Technology Standards Organizations
• Venture capitalist/angel investors
• Information security directors/managers
LIST OF TABLES
Table 1 Global Privacy Management Software Market, By Region, 2018–2023
Table 2 North America: Global Privacy Management Software Market, By Country, 2018–2023
Table 3 Europe: Global Privacy Management Software Market, By Country, 2018–2023
Table 4 Asia-Pacific: Global Privacy Management Software Market, By Country, 2018–2023
Table 5 Rest Of The World: Global Privacy Management Software Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global Privacy Management Software Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Privacy Management Software Market
FIGURE 4 Value Chain/Supply Chain Of Global Privacy Management Software Market
FIGURE 5 Share Of Global Privacy Management Software Market In 2017, By Country (In %)
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Contact Info:
Name: Market Research Future
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Organization: Market Research Future
Website: https://www.marketresearchfuture.com/reports/privacy-management-software-market-7400
Release ID: 88927180
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