Stringent federal data privacy laws in the United States are associated with compliance costs and market inefficiencies. Based on an August 2019 report, enacting national data privacy laws could cost U.S. organizations around 440 million dollars annually on privacy audit requirements. Overall, enacting national data privacy laws in the U.S. would cost roughly 6.5 billion dollars yearly.
Estimate of costs associated with targeted data regulation in the United States as of August 2019, by sector
(in million U.S. dollars)
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ITIF. (August 5, 2019). Estimate of costs associated with targeted data regulation in the United States as of August 2019, by sector (in million U.S. dollars) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1046618/estimated-costs-targeted-data-regulation-2019/
ITIF. "Estimate of costs associated with targeted data regulation in the United States as of August 2019, by sector (in million U.S. dollars)." Chart. August 5, 2019. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1046618/estimated-costs-targeted-data-regulation-2019/
ITIF. (2019). Estimate of costs associated with targeted data regulation in the United States as of August 2019, by sector (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1046618/estimated-costs-targeted-data-regulation-2019/
ITIF. "Estimate of Costs Associated with Targeted Data Regulation in The United States as of August 2019, by Sector (in Million U.S. Dollars)." Statista, Statista Inc., 5 Aug 2019, https://www.statista.com/statistics/1046618/estimated-costs-targeted-data-regulation-2019/
ITIF, Estimate of costs associated with targeted data regulation in the United States as of August 2019, by sector (in million U.S. dollars) Statista, https://www.statista.com/statistics/1046618/estimated-costs-targeted-data-regulation-2019/ (last visited December 22, 2024)
Estimate of costs associated with targeted data regulation in the United States as of August 2019, by sector (in million U.S. dollars) [Graph], ITIF, August 5, 2019. [Online]. Available: https://www.statista.com/statistics/1046618/estimated-costs-targeted-data-regulation-2019/
