Allied Market Research published a new report, titled, ” Consent Management Market Growing at 21.9% CAGR Reach USD 2271.1 Million by 2030.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global consent management market size was valued at $318.3 million in 2020, and is projected to reach $2,271.1 million by 2030, registering a CAGR of 21.9% from 2021 to 2030.
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Driving Factors Consent Management Market
An increase in the need to build trust with users and ease in policy compliance drives the growth of the global consent management market. However, an increase in user bounce rate on websites hinders market growth. On the contrary, the surge in awareness regarding data privacy among users is expected to unlock new opportunities for the market players in the coming years.
Market Segmentation Consent Management Market
The global consent management industry is segmented on the basis of component, application type, and deployment mode. Based on component, the market is bifurcated into software and services. Based on application type, the market is divided into mobile type and web type. By deployment mode, it is classified into on-premise and cloud. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players Consent Management Market
The global consent management market report includes an in-depth analysis of the prime market players such as OneTrust, LLC., Quantcast, Piwik PRO, TrustArc Inc., Cookiebot, IUBENDA, Trunomi, Crownpeak, BigID , and Civic.
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Based on components, the services segment is expected to portray the highest CAGR of 24.4% during the forecast period. However, the software segment held the largest share in 2020, contributing to more than four-fifths of the market.
On the basis of application type, the mobile app segment is projected to manifest the highest CAGR of 23.0% during the forecast period. However, the web app segment held the lion’s share in 2020, accounting for more than three-fifths of the market.
The global consent management industry is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe dominated in 2020, holding nearly two-fifths of the market. However, the Asia-Pacific region is projected to showcase the highest CAGR of 24.4% during the forecast period.
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Covid-19 Scenario:
► The Covid-19 pandemic increased the demand for consent management due to a sudden surge in internet activity because of social distancing norms and the global adoption of work from home culture.
► A rise in the number of cyber-attacks during the pandemic prompted several government agencies and policymakers to implement data privacy regulations and policies.
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