Market Size, Share, Forecast & Trends: The Importance of Data Privacy Solutions in the COVID-19 Era

Author: Hugh Logue

Date: April 30, 2020

Description

The COVID-19 pandemic is driving a short and steep increase in demand for data privacy solutions as companies look to protect their data while their non-essential workforce pivots to working from home. Longer-term, growth will remain robust; this analysis examines why.

 

Market Definition and Methodology

Data privacy solutions are application software and information platforms that support organizations in performing functions connected with the administration and management of personal data in order to comply with data privacy regulations. Data privacy officers use these data privacy solutions to both directly support tasks within their roles and manage compliance across their organizations.

Outsell’s definition broadly splits the market into four solution categories:

  • Management Tools: These are tools that help organizations remain compliant when collecting and managing personal data. This includes consent managers, data access monitoring products, and pseudonym tools.
  • Audit Tools: These help data privacy professionals to identify personal data that is stored within organizations, see how it flows in and out, and determine whether all the necessary consent procedures and policies are in place. This includes data mapping, data discovery solutions, automated policy document reviews, and tracking tools that enable organizations to demonstrate compliance.
  • Incident Response: Incident response solutions enable organizations to quickly respond to data breach incidents. These include tools that identify what data was compromised and workflow solutions that help organizations meet their notification obligations.
  • Information & Analytics: Data privacy information and analytics solutions are online applications that enable researching information related to data privacy, including specific legal, current awareness, and technical information. This category also includes benchmarking tools that provide organizations insights into what others in their sectors are doing to ensure that they keep up with industry standards.

Outsell does not include foundational software that may include data privacy elements, nor do we include cybersecurity technology.

This report draws extensively from Outsell’s unique industry metrics and analytics, including our database of over 10,000 companies. For this report, Outsell analyzed over 200 companies that offer data privacy solutions — some are pure-play providers, while others are broader solution providers that offer data privacy solutions as part of their product portfolios. We augmented this effort by conducting personal interviews with the CEOs and division heads of the top players in the market as well as smaller providers. We combined this with Outsell’s daily contact with players in the information industry and the deep industry experience of our analytical staff to help form our conclusions.

 

Table of Contents

Why This Segment

Market Definition and Methodology

Market Drivers and Inhibitors

Market Size and Share

Market by Geography

Market Size by Solution Category

Competitive Analysis

Competitors at a Glance

Market Leaders

10 to Watch

Implications

Essential Actions

Related Research

About the Author

About Outsell

 

List of Figures

Figure 1: Privacy Solutions Market by Geographic Region, 2018

Figure 2: Privacy Solutions Market by Category, 2019

 

List of Tables

Table 1: Estimated Privacy Tech Market Size and Forecast, 2015-2022 ($M)

Table 2: Privacy Tech Segment Market Size and Share ($M)

 

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Additional information

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