The Europe market for general data protection regulation (GDPR) has been envisaged to gain momentum over the period between 2018 and 2028 in a recent market research report by TMR Research. The report, titled “GDPR Assessment Tools Market – Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2028,” states that the market will receive a fillip from the vast rise in the number of service providers in the region in the past few years.
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GDPR has gained vast popularity and recognition as one of the most reliable basis of assessing the privacy of personal data in the region in recent years. As a result, companies have been increasingly incorporating a number of assessment tools in their privacy assessment processes to achieve a 100% compliance of GDPR standards. Owing to this scenario, the Europe GDPR market is expected to expand at a promising pace in the next few years. The vast rise in use of internet and the consecutive rise in the risk of personal data attacks is also expected to drive the market in the next few years.
The market could further gain momentum as the number of mandates regarding the compliance of GDPR standards for both EU and non-EU companies operating in Europe or managing clients in the region increase. This scenario is of paramount importance assessing the future growth prospects of the market especially as nearly 50% of organizations in Europe are not GDPR-compliant yet. Companies are expected to invest increasing sums on GDPR assessment tools so as to avoid penalties and maintain their standing in terms of reliability.
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There has also been a vast rise in demand for GDPR assessment tools in social and digital social media marketing circles as well, where marketers are required to adhere to GDPR while managing vast volumes of digital data. This scenario is also expected to drive the market in the next few years.