Businesses are preparing for the opportunity that GDPR will create. IDC estimates GDPR regulation represents a $3.5 billion security products and services opportunity for partners and customers working to comply with GDPR rules. A recent study shows 75 percent of US companies that consider GDPR a top priority have budgeted $1 million or more to become compliant. In Europe, that figure ranges from €100,000 to a few million, depending on an organization’s status quo according to the recent Forrester report, Assess Your Data Privacy Practices with the Forrester Privacy and GDPR Maturity Model.
IDC also estimates that the game-changing GDPR creates a total market opportunity of $3.5 billion for security and storage software vendors
PWC research (2016) established that 54% of the CxOs they spoke to said that GDPR is their highest priority item for data-privacy & security and 38% said that GDPR is one of their top priorities. Most organisations also plan to spend more than $1M on GDPR preparation (77% of respondents).
The European security market is set to increase in spending by 16 per cent to $11.5bn in 2018, according to Canalys², as SMBs will turn to the channel to comply with GDPR.
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