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Consent management Market

Consent management Market By component (software, services), Services (professional services, manages services), Deployment Types (on-premise deployments, cloud-based deployments), End-use (retail & e-commerce, government, technology, financial services, healthcare, higher education) & Region - Forecast to 2018 - 2028

Consent management Market By component (software, services), Services (professional services, manages services), Deployment Types (on-premise deployments, cloud-based deployments), End-use (retail & e-commerce, government, technology, financial services, healthcare, higher education) & Region - Forecast to 2018 - 2028

Consent management Market - Analysis, Outlook, Growth, Trends, Forecasts

Consent Management Market Overview

[215 Pages Report] The consent management market is valued at US$ 988 Mn in 2021. It is set to grow at 9% CAGR through 2028.

Attributes

Details

Estimate Market Size of consent management in 2021

US$ 988 Mn

Projected Market Size of consent management in 2028

US$ 1.8 Bn

CAGR during 2021 -2028

9%

Among different regions, North America will dominate the consent management market at 22.4% in 2028 as Internet users in the region are getting more conscious about sharing their personal information. Europe is expected to be the fastest growing market for consent management through 2028

By product types, consent management software solutions are expected to hold the largest share of the market during the forecast period.

Europe is expected to be the fastest growing market for consent management through 2028

  • As business transformation continues to gain pervasive palpability in the region, enterprises are looking to procure consent management platforms, to benefit their business growth in the consent management market.

Consent management software solutions continue to hold the largest share of the market.

  • The ever-rising demand for privacy regulatory compliance is estimated to drive the global consent management market.

Top Factors Shaping the Global Consent Management Market:

  • Influence of Digital Business Transformation

    Enterprises across the globe are increasingly focusing on digital business initiatives dedicated to transform the way of customer interaction with brands. Consent management allows a consistent, secure, multi-channel customer experience, which has enabled transformations in the way enterprises conduct digital business.

    As the trend of business transformation gains pervasiveness worldwide, enterprises are looking to procure consent management platforms, which will significantly favour growth of their businesses in the consent management market.

  • Impact of Current Regulations and Practices

    There are no universal guidance models for efficient consent management, which in turn prompted companies to follow ‘implied consent’ norms, keeping individuals from what or how much personal information has been exchanged. Elaborative ‘terms and conditions’ forms, which have a single check box at the bottom.

    These forms with checked boxes are key for companies to gain consent for using consumer data. This has further led to consumers not having a clear idea regarding their personal data exchange. It is difficult for a consumer to know who has been granted access to their personal information, which continues to remain a key challenge to be addressed in the consent management market.

  • European Economic Area (EEA): General Data Protection Regulation (GDPR)

    In May 2018, GDPR was launched for companies in the EEA as well as for other foreign companies or multi-national corporations offering public data protection services in the EEA.

    The General Data Protection Regulation imposed new regulatory standards for companies collecting, storing, or sharing consumer data, which further consolidated the confidentiality regarding public as well as private data, which in turn has been favouring growth of the consent management market.

Consent Management Market Structure Analysis

  • Leading players in the global consent management market are focusing on providing consent management solutions built on the guidelines of plain language presentation, to accommodate ease of understanding and prevent any issues for consumers.
  • Stand-alone consent management platform vendors in the market are continuously taking efforts that go in line with the changing market trends to come up with consent management solutions that comply with the existing government regulations and deem better value propositions. These consent management platform vendors are also striving to provide improved user interface and engagement throughout the next generation of solutions.
  • The ongoing trend of the acquisition of stand-alone consent management vendors by well-established consent management software and service providers will remarkably complement growth of the consent management market.
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Key Segment

Based on component

  • software
  • services

Based on services 

  • professional services
  • manages services

Based on deployment types

  • on-premise deployments
  • cloud-based deployments

Based on end-use

  • retail & e-commerce
  • government
  • technology
  • financial services
  • healthcare
  • higher education
  • other end-use industries.

Key Questions Answered in the Report

What is the Growth Size of Consent Management Market?

In 2021, consent management market is valued at US$ 988 Mn, and expected to grow at 9% CAGR.
The major players in the global consent management market are CYBOT, Rakuten Marketing, HIPAAT, CIVIC, ConsentEye, and OneTrust.

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