Wave of business ahead for data centres as 5 in 10 businesses say they will move data into new locations ahead of GDPR
As 51% of organisations are being held back from technology investment because of external data protection regulations.
The data centre and cloud spaces are set to heavily benefit from new regulation and changing government policies such as the introduction of GDPR as 48% of organisations admit they will move their data from a physical location to another as a result of such data privacy regulations.
According to McAfee’s report “Do you know where your data is? Beyond GDPR: Data residency insights from around the world”, a similar amount will also migrate their data because of changing geopolitics or the approach to relevant policies in the United States.
The survey, based on the answers of 800 senior business decision-makers from across multiple industry sectors and eight countries, has also found that seven in ten decision-makers believe the implementation of GDPR will make Europe a “world leader in data protection”.
“However, the United States remains the most popular data storage destination, preferred by nearly half of all organisations surveyed,” McAfee points out in its report.
Despite this, both GDPR and new US regulations, plus Brexit have all presented barriers to technology acquisitions and investments.
According to the survey, approximately two-thirds of respondents said that GDPR (66%), U.S. policies (63%) and Brexit (63%) either already have or will impact their organisation’s technology acquisition investments, while approximately 20% do ot yet know how these issues will impact their spending.
51% of all respondents went as far as saying that their organisation is being held back from technology investment because of external data protection regulations.
Raj Samani, Chief Scientist and Fellow at McAfee, said: “It’s critical that businesses do everything they can to protect one of the world’s most valuable assets: data.
“The good news is that businesses are finding that stricter data protection regulations benefit both consumers and their bottom line. However, many have short-term barriers to overcome to become compliant, for example, to reduce the time it takes to report a breach.”