Corporate investment in privacy shows significant growth in 2021: TrustArc survey

Cybersecurity, data breach and compliance are driving privacy software spending, according to TrustArc’s 2021 Global Privacy Benchmark Report. Of the more than 1,600 senior executives and privacy officers surveyed, 82% had a dedicated privacy office, 28% planned to spend $1M or more annually on privacy, and 73% believed their company needed to do more. Nearly half favored using privacy management or GRC software over other alternatives.