On the occasion of the IAPP Global Privacy Summit, the JDN examines the opportunities created by a market which should weigh 3.2 billion dollars in 2025.
While a few years ago, privacy technology solutions were aimed primarily at legal advisors, times have changed. GDPR in Europe, emergence of the California Consumer Privacy Act, entry into force in November 2021 of the personal information protection law in China, Brazilian data protection law… Faced with the range of new compliance requirements, but also with the proliferation of information held by companies, requests related to privacy have increased very sharply.
To meet this demand, new companies linked to this sector are appearing. According to the 2021 report from IAPP, the international association of privacy professionals, there are 356 companies worldwide specializing exclusively in enterprise privacy technology solutions, up from 304 a year earlier.
In France, there are currently 329 privacy-related companies, with players such as Accenture, Ernst & Young, Hewlett-Packard Enterprise, IBM Corporation, KPMG LLP, OneTrust, alongside booming startups. The sector is therefore on the rise, and offers very interesting prospects: according to Crunchbase, the market, estimated at 450 million dollars in 2018, could reach 3.2 billion dollars in 2025. But who are the players positioned in this niche? ? Here is a typology.
Assessment managers intervene when data processing can pose a strong risk to a person’s rights and freedoms. They help streamline the entire assessment process, record risks, or produce compliance reports. This sector includes companies such as 2B Advicewhich offers compliance and data privacy management software, or Enterprivacy, which notably presents a tool for calculating the risk associated with confidentiality. This company raised $200 million in 2020.
The consent managers
Consent managers help organizations collect, track, or manage user consent. This management must make it possible to guarantee the company’s compliance with the regulations on the protection of personal data. Note that for marketers, this activity is particularly important to guarantee the validity of the collection of consent. Among the players involved in consent management, we find, for example, OneTrust, leader in GDPR compliance software. The company announced in December 2020 a Series C funding of $300 million. The deal then valued the company at $5.1 billion, making it one of the first unicorns in the privacy industry.
Data mining solutions
Data mining solutions help organizations determine data flows across the enterprise. As data mapping is increasingly difficult to implement manually, automated solutions are mostly preferred. Remember that data mapping is the process of inventorying personal data in business systems. The inventory is called a data card. This needs to be updated to comply with data privacy regulations, such as GDPR. In this sector, we find for example Security, specializing in AI-based data security. The company secured $50 million in Series B in January 2020.
Right of access solutions
Right of access solutions help organizations facilitate requests from individuals to exercise their data rights. These may include requests from a user to access, modify or delete the personal information a company has about them. This field includes actors such as Ardent Privacy, dataguise Where Privacera.
Privacy incident response solutions
To be able to identify fraudulent access, abusive use or know the origin of a data leak, certain actions must be recorded on the computer systems. Privacy incident response solutions help provide information about what has been compromised and the notification obligations that must be met in relation to the issue concerned. We find in this area Proteus-Cyberwhich offers data privacy management software, or Secuvya platform that provides the ability to quickly manage data privacy, security, and governance.
Privacy information managers
Privacy information managers regularly provide organizations with automated information on the latest privacy laws around the world. Present in particular in this branch, Complyon, Enactiaor the company Privitar. In April 2020, it obtained funding of $80 million.
Website analysis is a service that checks whether the cookies, beacons and other tracers installed on the website are in compliance with the various privacy laws and regulations. In this category, there are BigID Where TrustArcwhich offers privacy management software.
Activity monitoring helps organizations determine which users have access to personal data. This privacy sector also makes it possible to know when the data is consulted and processed. These solutions often come with controls in place to help manage user activity. In the sector, we can cite for example clym Where clairvoyawhich offers a cloud-based data management platform.
Data discovery helps organizations determine and classify what types of personal data they possess. This way of efficiently discovering, classifying and correlating data is increasingly done automatically. This allows companies to better manage the risks related to privacy and compliance with different regulations. Present in this field, the company WireWheel for example, raised $20 million in February 2021.
Anonymization and pseudonymization solutions
Anonymization and pseudonymization solutions allow scientists, researchers or data scientists to extract information from a dataset, without compromising the privacy of information about an individual included in the dataset. It should be noted that anonymization makes it possible to prevent any identification of the person. Pseudonymity, for its part, designates a masked state of identity. In this sector, Brighter AI provides image and video anonymization solutions, based on deep learning. The CRM app Partnersfor its part, makes it possible in particular to anonymize the personal data present in Microsoft Dynamics 365.
Business communication solutions
Enterprise communication solutions help organizations communicate securely internally. The techniques used must prevent dangerous or compromising leaks from employee communication. Present in particular in this niche, Ethics launched in 2021 Fides, an open source description language and privacy toolset. Fides makes it possible to describe privacy attributes in Git to facilitate risk assessment and the establishment of rights.