5 noticable GDPR statictics from 2021
During the previous year a lot of companies finally got aware of the Data Protection and the GDPR regulations and approached this very seriously. This resulted with very eye-catching statistics regarding the legislation from the previous year. GDPR Local created list of 5 noticable statistics to be shared with our clients and readers to our blogs.
1.The demand for Data Protection Officers has risen by over 700%.
Data Protection Officers is the most important role in the implementation of the GDPR, that is directly involved in the implementation of the GDPR in the company. In 2017, there were, at most, 83,000 DPOs employed in the workforce. Nowadays, there are over half a million!
2. 27% of companies spent over half a million dollars to become GDPR compliant.
Nearly a third of all companies surveyed by one of the leading data privacy management companies reported spending over half a million dollars to become compliant with the GDPR in 2018 alone. A further 31% of companies planned to spend over half a million dollars to become compliant.
3.There have been over 1.25 billion in major GDPR fines.
EU data protection authorities have handed out a total of $1.25 billion in fines over breaches of the bloc’s General Data Protection Regulation since January 28, 2021.While there were only €424,800 in fines in 2018, the figure skyrocketed to a mind-boggling €1.25 billion in 2021.
4. 12% of companies said they would invest more than $10 million to be compliant with GDPR
12% of companies said they would invest more than $10 million. But when it comes to the cost of maintaining GDPR compliance, it found that 88% spend more than $1 million and 40% spend more than $10 million. These findings demonstrate how quickly costs can spiral and how often organisations underestimate the cost of GDPR compliance.
Compliance isn’t simply a case of updating your privacy policy and investing in a handful of new technologies. You must take a holistic approach to information security also.
5.Almost a third of EU companies are not GDPR compliant
Even though the approach for implementing GDPR has grown, still a third of EU companies are not GDPR compliant. On the survey conducted where 300 companies were involved, 57% of the respondents attested that they were confident their businesses were compliant, while 13% weren’t sure. However, 30% of businesses who responded were not confident they were GDPR compliant.
These are really impresive statistics and very interesting information to be discussed, and in our opinion GDPR is still evolving and we are waiting on more interesting facts for 2022.