The global privacy management tools market was worth US$600 mn in 2018 and the report of the market analytics suggests that the market will reach US$3130 mn by 2025, registering a robust CAGR of 26.5% during the forecast period of 2014-2025. Privacy management tools are security strategies and schemes that prevent any organization from losing important information. These tools help with an investigation, reporting, and remediation in case of breach or theft. Thus, the growing concerns about data security are expected to drive the global market for privacy management tools in the coming years.
The team of QY Research analysts has published a detailed report of the market, titled “Global Privacy Management Tools Market Report, History and Forecast 2014-2025, Breakdown Data by Companies, Key Regions, Types and Application.”
Global Privacy Management Tools Market: Drivers
The major driver of the privacy management tools market is the growing awareness of the risks associated with data leaks and losses. The stringent implementation of rules and regulations is expected to bode well for the global privacy management tools market. The privacy management tools monitor and check activities to guide privacy impact assessment according to the requirement of privacy regulations of various organizations. The market is rising fast as governments emphasize on reduction of risks associated with cyber-attacks. The global privacy management tools market is expected to show steady growth in the coming years due to increasing investments in research and development activities to innovate products and services.
Global Privacy Management Tools Market: Segment Analysis
The global privacy management tools market is segmented on the basis of type and application. In terms of type, the market is segmented into standard capacity and high capacity. In terms of application, the market is segmented as software platforms service and compliance management. In terms of application, the market is segmented as risk management, reporting and analytics, and others.
Global Privacy Management Tools Market: Regional Analysis
On the basis of region, the global privacy management tools market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. North America and Europe are known to be the leading regional markets. Asia Pacific is also growing as developing economies are striving to digitize and modernize their infrastructure.
Global Privacy Management Tools Market: The Key Players
The key players studied in the global privacy management tools market are OneTrust, Nymity, SIMBUS360, TrustArc, IBM, BigID, Proteus-Cyber, Protiviti, and 2B Advice. These companies are working relentlessly to add up-gradation in privacy management. For example, Nymity, Inc. has announced on 30th April 2019 that the availability of its next generation of solutions is built on Nymity’s integrated, research-driven, and expert privacy platform. It will enable different organizations to minimize time to compliance with the US, European and global privacy legislation.
Full Report Overview@ https://www.qyresearch.com/index/detail/1076324/global-privacy-management-tools-market