GDPR wasn’t the first Privacy Regulation and it certainly won’t be the last to be issued. Strict data privacy legislations are appearing in several economies across the globe, meaning the list of “GDPR-free” heavens countries is growing shorter by the day. In many cases, the need for effective data erasure is clearly indicated.
Data privacy laws almost anywhere in the world
All the biggest economy of the world adopted or are close to adopting comparable data privacy laws. Just 2020 has seen coming into effect, among a few, the Brazil’s Lei Geral de Proteçao de Dados (LGPD), South Africa’s Protection of Personal Information Act (POPIA), the Canadian Digital Charter Implementation Act, Nigeria’s Data Protection Bill (builds on the Nigerian Data Protection Regulation – NDPR), India’s Personal Data Protection Bill (PDPB), new amendments to New Zealand’s 1993 Privacy Act.
Meanwhile all remaining leading countries and markets, are adjusting the Local Privacy Regulations, with China ahead, after releasing a draft of its Personal Data Protection Law.
With the shared principle that the first step to data privacy is data protection, all data privacy laws have two things in common: data protection and breach notification requirements.
Legal regulations vs data deletion
All steps of data management are considered, with the purpose of regulating and protecting the collection, storage, destruction and disposal of data and its carriers.
Among several direct procedures required to be applied, all Data Protection Regulations commonly recommend pro-active solutions and a technology-friendly attitude to guarantee the full compliance with all the steps of data management, including (and especially) related to the principles of data minimization, destruction of obsolete and not-used confidential data and its proper disposal, as answer to an effective Retention Policy.
These requirements and the compliance with all the Local Data Protection Regulations is expected to increase the market need of Hard Drive Degaussers, an already common technology, approved by NSA and by all the main international security standards as method of data erasure for hard drives.
Degaussers – market forecast
The market is driven by various end-user industries, such as defense and government, financial company, hospital, radio/TV/broadcasting, data storage company, education, logistic, corporations, enterprises and so on.
Global “Hard Drive Degausser Market” size is projected to reach USD 110.3 million by 2026, from USD 82 million in 2020, at a CAGR of 5.0% During 2020-2026 (Global Hard Drive Degausser Sales Market Report 2020)
Services of data destruction, data disposal and media carriers disposal, performed in full compliance with GDPR and Local Data Protection Regulations are projected to become more regular to answer to the storage issues of obsolete media carriers, office relocations, cloud transferring with minimization of local storage, obsolescence of current generation devices, to increase the protection and the security of confidential data and avoid important fines (up to 4% of the total year turnover), as well as the lost of reliability towards clients.
The first step to data privacy is data protection, and investment of companies and institutions are going in the direction of adopting pro-active policies and technologies to support the compliance with data privacy laws as a method. And degaussers are projected to be a protagonist in this process.