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Jul 2018 - Market Forecast - Doc # US44150418

U.S. GDPR Security Products Forecast, 2018–2022: Impact of GDPR on Spending

By: Ryan O’LearySenior Research Analyst, Legal, Risk, & Compliance, Sean PikeProgram Vice President, Security Products, Konstantin RychkovSenior Research Analyst, Software, Western Europe

Abstract

This IDC study focuses on the impact of European Union's (EU's) General Data Protection Regulation (GDPR) on the U.S. security products market. This study presents IDC's market size and forecast for the U.S. GDPR security products opportunity through 2022, including market size, drivers, and analysis of market trends. This IDC study addresses overall market shifts and provides analysis of the market to guide technology suppliers operating in the security products market. The forecast demonstrates current market size and growth potential based on the assumptions set out in this document.

The impact of GDPR on the United States is likely not as great as some might have thought. U.S. enterprises have already purchased and are utilizing the tools required to be compliant with GDPR. IDC believes that U.S. GDPR pull through will be minimal. The U.S. GDPR market generated $416 million in 2017, and the market is forecast to grow to $537 million in 2022 at a compound annual growth rate (CAGR) of 5.2% for the 2017–2022 period. Maximum impact (counted as spend for GDPR initiatives) will be in 2020, although for different technologies that peak value time frame varies (2018–2020). Such differentiation is influenced primarily by prioritization of internal initiatives, technology maturity levels, and budget availability (price/impact balance). "Hiring or appointing data protection officers will not single-handedly spur market growth nor will being required to alert customers of breaches. The path to compliance is developing the internal workflows necessary to ensure those software systems in place are being utilized in accordance with the new regulation." — Ryan O'Leary, senior research analyst for Legal, Risk, and Compliance.


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