A survey conducted in April and May 2023 found that 60 percent of the companies that do business in the United States find it challenging to track the status of the data privacy legislation and the differences between state laws when preparing for changes in the data privacy laws. The challenge for around 50 percent of the respondents were increasing their budget because of the changes.
Challenges companies doing business in the United States face while adapting to changes in consumer data privacy laws as of May 2023
Characteristic
Share of respondents
Tracking the status of legislation and the differences between state laws
59%
Increasing our budget
52%
Understanding the data held within the organization
43%
Lack of available staff to address data privacy compliance
42%
Obtaining management approval and support to prioritize changes
30%
Lack of an appointed leader to manage compliance within own organization
representatives of companies that do business in the U.S.; organizations may have headquarters in several countries worldwide
Supplementary notes
The original question was phrased by the source as follows: "Which of the following, if any, have presented challenges to your organization in preparing for data
privacy law changes? (Select all that apply)"
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Womble Bond Dickinson. (July 18, 2023). Challenges companies doing business in the United States face while adapting to changes in consumer data privacy laws as of May 2023 [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1403367/us-firms-challenge-consumer-data-privacy-law/
Womble Bond Dickinson. "Challenges companies doing business in the United States face while adapting to changes in consumer data privacy laws as of May 2023." Chart. July 18, 2023. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1403367/us-firms-challenge-consumer-data-privacy-law/
Womble Bond Dickinson. (2023). Challenges companies doing business in the United States face while adapting to changes in consumer data privacy laws as of May 2023. Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1403367/us-firms-challenge-consumer-data-privacy-law/
Womble Bond Dickinson. "Challenges Companies Doing Business in The United States Face While Adapting to Changes in Consumer Data Privacy Laws as of May 2023." Statista, Statista Inc., 18 Jul 2023, https://www.statista.com/statistics/1403367/us-firms-challenge-consumer-data-privacy-law/
Womble Bond Dickinson, Challenges companies doing business in the United States face while adapting to changes in consumer data privacy laws as of May 2023 Statista, https://www.statista.com/statistics/1403367/us-firms-challenge-consumer-data-privacy-law/ (last visited December 21, 2024)
Challenges companies doing business in the United States face while adapting to changes in consumer data privacy laws as of May 2023 [Graph], Womble Bond Dickinson, July 18, 2023. [Online]. Available: https://www.statista.com/statistics/1403367/us-firms-challenge-consumer-data-privacy-law/
