Shifting consumer attitudes and new regulations have raised the stakes on personal data protection. Today, privacy is more than a compliance concern—it’s a key opportunity for differentiation. This is particularly true for emerging tech platforms and applications that rely on users’ trust to grow.
Why are privacy and trust so important for tech companies now?
Privacy is at an inflection point. Between growing market demand, shifting consumer norms, and new legislations, tech firms recognize their product development and business models must adapt to address these concerns. Rebuilding and establishing consumer trust will be necessary to drive adoption of the next wave of innovations.
How are leading tech companies differentiating themselves with privacy-protecting values and product designs?
Big tech firms like Amazon and Facebook are taking privacy concerns into account when developing new products like smart speakers and AR and VR platforms. Apple has given users more information and control over how they are tracked.
What are the competitive impacts of tech’s privacy and trust-building efforts?
A solid privacy strategy can fuel user adoption, revenue growth, and help companies increase or retain market share. Likewise, breaches of trust and unmet consumer expectations around privacy open up opportunities for competitors.
WHAT’S IN THIS REPORT? This report features four case studies that illustrate how trust and privacy practices can fuel adoption, growth, and increase or retain market share. It also looks at how breaches of trust can open opportunities for competitors.
KEY STAT: There is a market for privacy: While nearly nine out of 10 consumers state they care about data privacy, about three out of 10 consumers worldwide have actually acted on those preferences and switched providers over their data policies or data-sharing practices, according to Cisco’s 2020 Consumer Privacy Survey.
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