In the IDC Market Share report, OneTrust "showing no signs of slowing down or stopping" with the largest share of the market at 40.2%, more than all other named vendors combined for the second year running.
In the IDC MarketScape, OneTrust was named a Leader based on analysis of strategies and capabilities.
Download the market share excerpt: IDC Worldwide Data Privacy Management Software Market Shares, 2020: OneTrust Continues Record Growth and Expands Market Lead Despite the Pandemic
The IDC Market Share report ranks the market share data across privacy management software vendors. In the report, IDC highlights that "OneTrust is leading the market outright and is showing no signs of slowing down or stopping," with 40.2% of the total market share, more than all other named vendors combined. OneTrust also grew 66.2% year over year, the largest increase among all vendors in the report.
The IDC MarketScape report evaluates privacy management software vendors based on strategies, and capabilities. The report names OneTrust a leader due to strength across the 13 evaluated categories, including customer satisfaction, innovation, growth and functionality.
OneTrust Continues to Dominate the Market with IDC Reporting 40.2% Market Share
The IDC Market Share report discusses overall market dynamics, analysis of the competitive landscape, and a quantitative assessment of the biggest vendors in the market.
"Despite the prognostications of doom and gloom for the global economy in March-April of 2020, the worldwide data privacy market grew 46.1% in 2020. OneTrust is leading the market outright and is showing no signs of slowing down or stopping." The breadth and growth of OneTrust's functionality is what has helped maintain its position as market leader, continuing to dominate the competition with a 40.2% share and a 66.2% year-over-year growth according to IDC.
"OneTrust continues to shape not only the year but the market." In a market that continues to grow rapidly, OneTrust are again leading the market and providing organizations with the functionality their programs need.
Download the excerpt: IDC Worldwide Data Privacy Management Software Market Shares, 2020: OneTrust Continues Record Growth and Expands Market Lead Despite the Pandemic
OneTrust Named a Leader the IDC MarketScape Report
The IDC MarketScape report evaluates 13 key categories, discussing market dynamics, and the competitive landscape, as well as sharing a quantitative assessment of the market's vendors. OneTrust was named a leader based on our customer satisfaction, growth, scalability, and regulatory intelligence capabilities.
OneTrust's functionality and its position as a "one stop shop for data privacy compliance," is why the IDC MarketScape named OneTrust as a leader. "OneTrust's capabilities leave no stone unturned. OneTrust can accomplish all the essential data privacy compliance tasks all with native capability."
The IDC MarketScape report notes, "OneTrust has had a meteoric rise since its founding in 2016... Founded with a deep focus on data privacy compliance management but has since expanded to adjacent use cases. OneTrust has started to create a trust platform that not only enables better privacy compliance outcomes for their clients but manages other types of risk and even manages ethics and social responsibility."
"To lead in privacy, a technology needs to have deep privacy expertise, research capabilities, and customer satisfaction. Both the IDC market share and IDC MarketScape reports recognize that in addition to OneTrust's solid data privacy foundation, our leadership expands to building the platform of trust, and working with our customers to bridge privacy into other areas of the business to make trust a competitive advantage," said Kabir Barday, OneTrust CEO and Fellow of Information Privacy (FIP). "We're honored to be named a leader in IDC MarketScape for Worldwide Data Privacy Management Software and ranked #1 for 2020 Market Share, and look forward to continuing to deliver innovative solutions to help our customers in their journeys to become more trusted organizations."
To learn more about why OneTrust is leading the way in data privacy management software, download IDC's MarketScape excerpt, or to learn more about OneTrust's position in the market, download IDC's Market Share excerpt.
About IDC MarketScape IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
IDC Worldwide Data Privacy Management Software Market Shares, 2020: OneTrust Continues Record Growth and Expands Market Lead Despite the Pandemic, (Doc# US46970821), Apr 2021
About OneTrust OneTrust is the #1 fastest-growing company on Inc. 500 and the category-defining enterprise platform to operationalize trust. More than 8,000 customers, including half of the Fortune 500, use OneTrust to make trust a competitive differentiator, implementing central agile workflows across privacy, security, data governance, GRC, third-party risk, ethics and compliance, and ESG programs.
The OneTrust platform is backed by 150 patents and powered by the OneTrust Athena AI and robotic automation engine, and capabilities include:
OneTrust Privacy - Privacy Management Software
OneTrust DataDiscovery - AI-Powered Discovery and Classification
OneTrust DataGovernance - Data Intelligence Software
OneTrust PreferenceChoice - Consent and Preference Management Software
OneTrust ESG – Environmental, Social & Governance Software
OneTrust has raised a total of $920 million in funding at a $5.3 billion valuation from Insight Partners, Coatue, TCV, SoftBank Vision Fund 2, and Franklin Templeton. OneTrust's fast-growing team of 1,500 employees is co-headquartered in Atlanta and London with additional offices in Bangalore, Melbourne, Denver, Seattle, San Francisco, New York, São Paulo, Munich, Paris, Hong Kong, and Bangkok.