Western Europe GDPR Impact on Security Services and Software Forecast, 2016–2021
GDPR-related security spending presents a $2.3 billion market opportunity in 2017, and it is forecast to grow to $3.7 billion in 2019. European organizations are maturing in their GDPR readiness journey and are now ready to make investment commitments to support compliance, said Martin Whitworth, research director, IDC European Data Security and Privacy. "Many organizations are actively seeking solutions to ensure regulatory compliance as well using the regulation as a trigger to improve their organizational security stance. For vendors, simply branding products and services as GDPR-ready is unlikely to be effective. They need to help customers understand how new regulations will impact their business, showcase how their solutions can help in addressing any regulatory shortfalls, and work to improve data governance processes."
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