Market Size of Consent Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 19.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Consent Management Market Analysis
The Global Consent consent management market is expected to register a CAGR of 19.3% over the next five years. The increasing growth of awareness among enterprises about data regulatory compliance and growing digitalization around the world are driving the growth of the consent management market.
- This is because there are more cyberattacks, more people are aware of data compliance regulations, privacy by design (PBD) is being used to make private information better, and buyers want to be able to manage their preferences and consents.
- Furthermore, the advent of the internet and the steadily increasing use of internet services and applications have increased the number of cyberattacks in which personal information is stolen. As a result, the need for consent management is growing for consumers to maintain control over their data.
- Key players in the consent management market are focusing on expanding their businesses and strengthening their market positions through mergers and acquisitions. For instance, Cookiebot, a subsidiary of Cybot, completed its merger with Munich-based competitor Usercentrics to deliver solutions to enable websites to protect users' privacy and strike a healthy balance between data privacy and data-driven business.
- The continuous growth in digitalization and government initiatives for protecting personal data across the region are leading to the adoption of consent management solutions across various organizations. For instance, the CCPA (the California Consumer Privacy Act) came into force in January last year, making it one of the most stringent consumer privacy regulations in the United States.
Furthermore, the COVID-19 outbreak increased consent management prices due to an unexpected surge in internet activity caused by cultural distancing norms and the global adoption of the work-from-home culture.
