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.
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The report segments the global consent management market on the basis of component, application type, deployment, and region.
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.
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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.
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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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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