Global Privacy Management Tools Market Overview:
The market for tools for data protection management is one of the significantly growing markets due to the increased risk of data theft and data loss. This data protection management tool contains solutions with which data-protection management can determine accountability and compliance. This also helps companies report on the status of the privacy program and generate quantitative metrics backed by evidence generated by the privacy management software. These privacy management tools also generate reports based on observed data that provide qualitative and quantitative analysis. These data protection management tools help companies conduct data protection impact assessments and review and monitor activities in accordance with the requirements of data protection regulations. This helps track incidents that result in unauthorized access to personal data. The market for data protection management tools is growing due to increasing governance for regulators and organizations and the increasing risk of cyberattacks.
- An Increase in the Number of Privacy Rules and Various Laws for Data Protection
- A Rise in the Adoption of Video Communication Platforms
- Increased Adoption of Privacy Management Software
- The Growing Advocacy and Awareness
- The Increasing Trend in the Adoption of BYOD
- A Rise in the Monitoring of Activities and Controlling Unauthorized Access to Data
- High Cost of the Hardware and Software
- Rising Need to Achieve Compliance with Privacy Requirements
- Growing Technological Advancements
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Nymity (Canada), OneTrust (United States), Securiti (United States), TrustArc (United States), SIMBUS360 (United States), SAP SE (Germany), BigID (United States), SAI Global (Australia), IBM (United States), Protiviti (United States), Proteus-Cyber (United Kingdom) and 2B Advice (United States). Additionally, following companies can also be profiled that are part of our coverage like Riskwatch (United States), Hexamail (United Kingdom) and Appsian (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Privacy Management Tools market by 2026. Considering Market by Deployment Mode , the sub-segment i.e. On-Premises will boost the Privacy Management Tools market. Considering Market by Organization Size, the sub-segment i.e. SMEs will boost the Privacy Management Tools market.
Latest Market Insights:
In April 2017, OneTrust, a provider of privacy management software, partnered with the RSA program. This created interoperability between the OneTrust Enterprise Privacy Management software platform and RSA Archer GRC platform from RSA, a Dell Technologies company.
In May 2020, OneTrust LLC announced the launch of two of its new products to help organizations establish ISO compliance and ISMS programs. These two OneTrust products, GRC Audit Management and Policy Management enable the company to take a proactive, risk-based approach to audit while optimizing policy development, distribution, and enforcement.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Privacy Management Tools market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Privacy Management Tools market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Providers of Privacy Management Tools, Potential Investors, Market Research Firms, End-Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.