The significance of the GDPR for technology companies lies in its strict regulations on data protection and privacy. It mandates that companies must obtain explicit consent before collecting personal data and gives consumers the right to access, correct, and delete their data. Non-compliance can lead to hefty fines, thereby pushing tech companies to adopt better data management practices. The GDPR promotes transparency and accountability in how personal information is handled, ultimately fostering trust between consumers and companies. The regulation has set a global benchmark, influencing data legislation in various countries.