LONDON–(BUSINESS WIRE)–SpendEdge has been monitoring the global data privacy and protection consulting services market and the market is poised to experience spend growth of more than USD 8 billion between 2018-2023 at a CAGR of over 18% during the forecast period. Request Free Sample Pages.
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With the increase in the rate of utilization of customer data especially by organizations from the healthcare, banking, and e-commerce sectors, chances of security compromise of the data are peaking. The exponential growth in the volume of personal data is creating a pressing demand for data privacy and protection consulting services from buyers across such sectors. Driven by this demand, service providers are adopting hybrid cloud data storage to improve their service delivery which is promoting the prospects of spend growth in the global data privacy and protection consulting services market.
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The Top Data Privacy and Protection Consulting Service Providers Enlisted in this Report:
The growing shortage of skilled workforce across APAC, Europe and North America is compelling data privacy and protection consulting service providers to increase compensations to hire and retain professionals with the requisite expertise. This is increasing service providers’ OPEX and will consequently have an inflationary impact on the buyers’ spend in the data privacy and protection consulting services market.
Deloitte- It is a recommended practice for buyers to identify and list down potential negotiation levers prior to the commencement of contract-related discussions with this service provider to maximize the value of procurement spend. Common negotiation levers that can maximize value include flexibility fees, training for workers, discounts on subscription fees, and risk-sharing agreements.
PwC- The market is rapidly changing due to the introduction of hybrid cloud and Internet payment systems. This has resulted in service providers offering consulting services to buyers to prepare them for the new challenges arising as a result of the implementation of the technologies. Leading service providers are expanding their portfolios and reach by acquiring smaller firms. For instance, PwC acquired smaller privacy firms such as Minnesota Privacy Consultants to build a more robust range of offerings.
BDO International- Third-party vendors of buyers often store large amounts of confidential data belonging to the organizations they cater to, either directly or indirectly. Hence, they are exposed to high risks with respect to hacking and data theft. Through vendor risk assessment, the security and safety practices employed by vendors can be assessed, and corrective measures can be implemented if required. On this note, buyers are advised to assess the capability of this service provider to conduct an effective and accurate vendor risk assessment.
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Some of the key topics covered in this report are:
- Data privacy and protection consulting services market spend segmentation by region
- Data privacy and protection consulting services supply market analysis
- Regional spend opportunity for data privacy and protection consulting service providers
- Data privacy and protection consulting service providers cost structure
- Total cost of ownership analysis in the data privacy and protection consulting services market
- Data privacy and protection consulting services pricing models analysis
- Category management objectives
- Cost saving opportunities in the data privacy and protection consulting services market
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