Stringent federal data privacy laws in the United States are associated with compliance costs and market inefficiencies. Based on an August 2019 report, limiting organizations from accessing data would cost the U.S. education sector 18 billion dollars in lost value. Overall, data privacy rules could cost the U.S. economy 71 billion dollars across multiple sectors.
Estimate of costs associated with reduced data access to organizations 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 reduced data access to organizations in the United States as of August 2019, by sector (in million U.S. dollars) [Graph]. In Statista. Retrieved October 11, 2024, from https://www.statista.com/statistics/1046607/estimated-costs-reduced-data-access-2019/
ITIF. "Estimate of costs associated with reduced data access to organizations in the United States as of August 2019, by sector (in million U.S. dollars)." Chart. August 5, 2019. Statista. Accessed October 11, 2024. https://www.statista.com/statistics/1046607/estimated-costs-reduced-data-access-2019/
ITIF. (2019). Estimate of costs associated with reduced data access to organizations in the United States as of August 2019, by sector (in million U.S. dollars). Statista. Statista Inc.. Accessed: October 11, 2024. https://www.statista.com/statistics/1046607/estimated-costs-reduced-data-access-2019/
ITIF. "Estimate of Costs Associated with Reduced Data Access to Organizations 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/1046607/estimated-costs-reduced-data-access-2019/
ITIF, Estimate of costs associated with reduced data access to organizations in the United States as of August 2019, by sector (in million U.S. dollars) Statista, https://www.statista.com/statistics/1046607/estimated-costs-reduced-data-access-2019/ (last visited October 11, 2024)
Estimate of costs associated with reduced data access to organizations 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/1046607/estimated-costs-reduced-data-access-2019/
