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. Privacy filters may not have been at the top of the list in terms of demand when it comes to office accessories. However, as managers/supervisors begin to understand the security and health advantages that it presents, it is expected to become an essential tool that ensures a healthy workforce environment.
- The amount of time people typically spend in front of computers in their professional lives indicates that taking advantage of tools to improve the experience, be it for user experience or security, should be a good business practice.
- Leading companies also continue to increasingly invest in research and development of privacy filters. For instance, 3M company, a pioneer in visual privacy solutions, leveraging its advanced micro-louver technology to create a high clarity privacy filter with a glossy finish on both sides for enhanced clarity.
- In addition to providing premium privacy protection and screen clarity, the 3M high clarity privacy filter reduces blue-light transmissions from screen displays by as much as 35%. The filter also gives screens an extra layer of protection against everyday dust and scratches.
Scope of the Report
Privacy screens allow data on a screen to be shielded from the gaze of others in an uncontrolled environment, which can range anywhere from an office to a hotel lobby. The prevalence of mobile working and people’s increased ability to do so mean it is imperative to take a responsible attitude toward protecting on-screen data. Various industries according to their application and features can be catered by using privacy filters.
Key Market Trends
Rising Data Privacy and Security Concerns is the Driving Force for the Privacy Filters Market
- In the current working culture where the 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 domain of finance, customer data is the most critical resource and protecting it is crucial to risk areas for the financial sector including visual hacking.
- 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 across the world are increasingly following the GDPR guidelines, they are focussing more on data privacy concerns which will positively impact the market growth. For instance, according to Cisco data privacy survey of around 3200 security professionals in 18 countries states that majority of them implement GDPR rules.
North America to Have Significant Market Share
- The awareness of information and data security is high in the region, with the significant enterprises opting for using these products to cut unwanted gaze and privacy breach of the information.
- The high price of the product compared to usual tempered glass product and screen product is acting as a market dampener in other regions, whereas as it is affordable for the North America region with the high per capita income compared to the other areas in the service industry.
The privacy filter market is fragmented due to the rapid increase in demand for the privacy filter from the consumer that leads to higher production. Moreover, players are competing among themselves with product innovation and low price. Some of the key players in the market are 3M company, Akamai Technologies, Targus Inc., Tech Armor, DMC Co. Ltd.
- May 2019 - 3M entered into a definitive agreement to acquire Acelity Inc. and its KCI subsidiaries worldwide. Acelity is a leading global medical technology company focused on advanced wound care and specialty surgical applications marketed under the KCI brand.
- February 2019 - Akamai Technologies, Inc. and Mitsubishi UFJ Financial Group have established a joint venture, the Global Open Network, Inc. and announced their plans to offer a new blockchain-based online payment network enabling next-generation transaction security, scale, and responsiveness.
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