(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Oct 14, 2021, 05:08 /Comserve / -- Privacy Filters Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Privacy Filters Market was valued at USD 430.32 million in 2019 and is expected to reach USD 1134.77 million by 2025, at a CAGR of 17.54% over the forecast period 2020 - 2025. With the growing use and application of smart connected devices, such as laptops, desktops, smartphones, and tablets in the corporates and businesses, the number of security risks is also increasing. One such threat is visual hacking, which is one of the most prevalent and conventional hacking methods. It enables snooping on sensitive company information whenever employees venture out of their corporate work setting.
- As more and more businesses are moving toward digitalization, the vitality of data security increases. In certain scenarios, business representatives or IT professionals, who work on or have access to sensitive data of the organization or client, are forced to travel or access the data in public places, which further increases the chance of sensitive data exposure. About 75% of the business travelers display company information on screen while they are on a train or an airport. Owing to such developments, organizations are significantly investing in data security solutions.
- Privacy filters offer privacy and anti-glare filter, which further helps prevent conditions, such as chronic headaches and presbyopia that causes eyes to become weak. Combating these potential side effects often means that people are less likely to become fatigued when working at a computer, which can make a significant difference to their long-term health.
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Key Market Trends
Rising Data Privacy and Security Concerns is the Driving Force for the Privacy Filters Market
- In the current working culture where electronic devices have become a critical part of work, it has become easier than ever to view private, sensitive, and confidential information in open offices and mobile workspaces. It has thus become essential to safeguard the workspace and block unwanted views.
- In the finance domain, customer data is the most critical resource, and protecting it is crucial to risk areas for the financial sector, including visual hacking.
- The Healthcare sector manages sensitive patient information. It is essential to ensure privacy protection in hospitals, clinics, and medical practices.
- Further, the increase in online exams replacing the traditional paper-based exams highlights the growing issues this sector faces with protection on-screen information.
- Moreover, people should use the privacy filter in forms of anti-virus, safeguards, etc. that can prevent data theft and data breaches.
- As organizations worldwide are increasingly following the GDPR guidelines, they focus more on data privacy concerns, which will positively impact market growth. A Cisco's study on data privacy survey of around 3200 security professionals in 18 countries suggests the majority of them implement GDPR rules.
North America to Have Significant Market Share
- North America is expected to command a prominent share of the global demand owing to the presence of major economies such as the United States and Canada. Both countries boast a large percentage of businesses that use mobile devices in the workspace(BYOD policy), which attracts a significant demand.
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- The region is home to one of the largest markets for laptops, desktops, tablets, and smartphones; enterprises operating in the region are increasingly spending on digitalization of their businesses.
- Apart from this, businesses operating in the region are increasingly spreading their presence across the world, owing to which there are a significant number of business travelers that work while they travel. For instance, according to the US Travel Association, in 2019, 470.4 million business travelers traveled via air, and this number is expected to reach 493.7 million by 2022.
- Moreover, the region also faces a significant share of data breaches and security threats. Owing to this, enterprises, as well as governments, are increasingly spending on data security. In 2020, the estimated budget for the US government for cybersecurity in USD 18.79 billion, according to the US Office of Management and Budget.
The privacy filter market is fragmented due to the rapid increase in demand for the consumer's privacy filter, leading to higher production. Moreover, players are competing among themselves with product innovation and low prices. The key player in the market is 3M Company, followed by Akamai Technologies, Targus Inc., Tech Armor, and DMC Co. Ltd., among others.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
4.3 Market Drivers
4.3.1 Availability of High Degree of Screen Clarity
4.3.2 Rising Data Privacy and Security Concerns
4.4 Market Restraints
4.4.1 Lack of Awareness about the Privacy Filters among the Users
4.5 Industry Value Chain Analysis
4.6 Assessment of Covid-19 impact on the industry
5 MARKET SEGMENTATION
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