The consent management market size is projected to reach US$ 2,021.05 million by 2030 from US$ 458.89 million in 2022. The market is expected to register a CAGR of 20.4% during 2022–2030. Strict government regulation over data privacy and the rise in the use of consent management in various end-user industries are likely to remain key trends in the market.
The growing digitalization and rise in strict regulations over data privacy are driving the market growth. The mounting cyberattacks and data breach cases are contributing to the growing demand for consent management solutions. The data security needs and growing awareness of data compliance regulations are fuelling the market growth. The blockchain technology creates opportunities for the market growth in the coming years.
Content management software solutions help customers collect and manage their personal information with consent. The consent is in line with the various data protection laws and regulations, such as Brazil’s LGPD, the EU’s GDPR, and California’s CCPA. Companies require the consent management platform to legally document and manage their users’ information. Only with the user's consent, their data can be used for the business purposes.
The growing e-commerce industry is one of the major factors driving the market growth. For example, according to the India Brand Equity Foundation (IBEF), India’s overall e-commerce market is also expected to reach US$ 350 billion by 2030 from approximately US$ 74.8 billion in 2022. The consent management platform plays a crucial role in data privacy and compliance in e-commerce. In the e-commerce market, players use consent management solutions to use their customer’s information whenever required. In addition, consent management provides consent to customers to decide which personal information they’re comfortable sharing with a B2B e-commerce platform
With the rise in digitalization, providers across several industries, such as IT and telecom, e-commerce, BFSI, and others, are providing their services with the help of digital tools. They require customers' personal information to perform business functions, which generates the need for consent management solutions. In addition, the awareness regarding data privacy is growing among businesses and customers. Businesses must adhere to data privacy regulations such as the General Data Protection Regulation (GDPR), the California Consumer Privacy Act (CCPA), and the Canadian Personal Information Protection and Electronic Documents Act (PIPEDA), among others that foster the need for consent management solutions.
Key segments that contributed to the derivation of the consent management market analysis are component, deployment, end-use industry.
The geographic scope of the consent management market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Europe region is holding the largest market share in 2022, followed by North America and Asia Pacific. The market is growing in Europe due to the presence of the EU’s GDPR. The regulation was introduced to improve the protection of European data rights and safeguard these rights. In addition, the expansion of several national and international businesses is driving the growth of the market in Europe. The growing awareness regarding data privacy is fuelling the growth of the market. For example, in December 2021, the Federal Act on Privacy in Telecommunications and Telemedia (TTSDG). With this, businesses can use consent management services to get permission for multiple websites at once and avoid using cookie banners.
The regional trends and factors influencing the Consent Management Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Consent Management Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 458.89 Million |
| Market Size by 2030 | US$ 2,021.05 Million |
| Global CAGR (2022 - 2030) | 20.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Consent Management Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Consent Management Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The consent management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the consent management market are listed below:
The “Consent Management Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
The List of Companies - Consent Management Market
The estimated value of the consent management market will be US$ 2,021.05 million by 2030.
Consent Manager EN, Crownpeak Technology Inc., IBM Corporation, Didomi, HIPAAT International Inc., TrustArc Inc, OneTrust LLC, Piwik PRO, PossibleNOW, and Osano Inc. Osano, Inc. are some of the key players operating in the consent management market.
Strict government regulation over data privacy and the rise in the use of consent management in various end-user industries are the key driving factors impacting the consent management market.
User-centric consent management is considered a key trend in the consent management market.
The global consent management market is estimated to register a CAGR of 20.4% during the forecast period 2022–2030.