Yahoo Finance The Worldwide Consent Management Industry is Expected to Reach $1.2 Billion by 2027
Dublin, Dec. 08, 2021 (GLOBE NEWSWIRE) -- The "Global Consent Management Market By Component, By Deployment Mode, By Touch Point, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Consent Management Market size is expected to reach $1.2 billion by 2027, rising at a market growth of 21.9% CAGR during the forecast period.
Consent management refers to the process, system, or set of compliances that enable customers and patients to decide the kind of health data they is expected to like to permit their care providers to access. In addition, it allows consumers and patients to declare their participation in e-health initiatives and to set up consent directives to decide who can access their protected health information (PHI), for what objective, and under what situations. In addition, consent management helps in the dynamic management, creation, and enforcement of consumers, along with organizational & jurisdictional privacy policies.
In the present scenario, the world is witnessing stringent data privacy legislation across numerous countries. Several global companies or organizations are adopting cross-regulatory and cross-border compliance strategies to effectively work with the system. The increasing cases of individual data breaches across numerous sectors and growing privacy technology across the world are estimated to augment the demand for consent management solutions in the market. In addition, the companies operating in the consent management market are substantially adopting the consent management solution, and meeting the increasing demand and requirement for such solutions.
Factors like growing concerns related to the privacy of the customer and the increasing adoption of most of the regulations and policies regarding customers' privacy are estimated to bolster the growth of the consent management market over the forecast period. Additionally, the increasing awareness of data compliance regulations, the growing demand of consumers to properly manage their preferences & consent, and the rising cases of data breaches and cyber-attacks is expected to accelerate the growth of the market.
Along with that, the high adoption rate of consent management platforms among publishers, the constant improvements in digital consent management platforms, and the growing adoption of GDPR & CCPA data privacy policies by numerous organizations around the world are projected to fuel the growth of the market over the forecast period.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted every sector of the business domain. The imposition of various restrictions like the travel ban, lockdown, and temporary ban on manufacturing units has negatively impacted various industrial sectors. The disruption caused by the pandemic has negatively impacted various manufacturing, technology, and service-based industries, in which the consent management market has also witnessed a decline in sales across the globe during the initial phase of the pandemic.
Market Growth Factors:
Growing digitalization across the world
Digitalization is one of the fastest-growing concepts adopted across the globe. People and companies are highly preferring digital mediums to establish a communication bridge between them. Various online tools and platforms are enabling companies to reach out to their potential customers while retaining their existing customers. In addition, people have been shifting to the online mode of communication and online shopping during the pandemic, as a result increasing the popularity of these modes of communications. All these transactions and communications require the customer to add their sensitive data on these sites or apps, and thus, augment the demand for consent management solutions in the market.
Rising awareness among the enterprises about data regulatory compliances
With the rising awareness among enterprises regarding the importance of fulfilling all the regulatory compliances related to data collection and usage, the demand for consent management software has increased in the last few years. In addition, the introduction of various regulatory policies and compliances is also compelling enterprises to build a strong security system and thus, fueling the demand for consent management software and services.
Market Restraining Factor:
Dynamic nature of the regulatory compliances
There are several amendments carried out by the regulatory authorities from time to time, which makes it difficult for the companies to adhere to a specific law for a considerable time. The ongoing changes in different policies along with the introduction of various new regulations and compliances are restricting companies from adopting consent management solutions and thus, hampering the growth of the consent management market over the forecast period.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include OneTrust, LLC, Quantcast, Piwik Pro SA, TrustArc Inc, Cookiebot CMP (Cybot), Iubenda s.r.l, Trunomi, Crownpeak, BigID, Inc., and CivicUK.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Recent Industry Wide Strategic Developments
3.1.1 Partnerships, Collaborations and Agreements
3.1.2 Product Launches and Product Expansions
3.1.3 Acquisition and Mergers
3.2 Top Winning Strategies
3.2.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.2.2 Key Strategic Move: (Product Launches and Product Expansions : 2017, Jun - 2021, Jun) Leading Players
Chapter 4. Global Consent Management Market by Component
4.1 Global Consent Management Software Market by Region
4.2 Global Consent Management Services Market by Region
Chapter 5. Global Consent Management Market by Deployment Mode
5.1 Global Cloud Consent Management Market by Region
5.2 Global On-premise Consent Management Market by Region
Chapter 6. Global Consent Management Market by Touch Point
6.1 Global Web App Consent Management Market by Region
6.2 Global Mobile App Consent Management Market by Region
Chapter 7. Global Consent Management Market by Region
Chapter 8. Company Profiles
8.1 OneTrust, LLC
8.1.1 Company Overview
8.1.2 Recent strategies and developments:
8.1.2.1 Partnerships, Collaborations, and Agreements:
8.1.2.2 Product Launches and Product Expansions:
8.1.2.3 Acquisition and Mergers:
8.2 Quantcast
8.2.1 Company Overview
8.2.2 Recent strategies and developments:
8.2.2.1 Partnerships, Collaborations, and Agreements:
8.2.2.2 Product Launches and Product Expansions:
8.3 Piwik PRO SA
8.3.1 Company Overview
8.3.2 Recent strategies and developments:
8.3.2.1 Product Launches and Product Expansions:
8.4 TrustArc Inc
8.4.1 Company Overview
8.4.2 Recent strategies and developments:
8.4.2.1 Partnerships, Collaborations, and Agreements:
8.4.2.2 Product Launches and Product Expansions:
8.4.2.3 Acquisition and Mergers:
8.5 Cybot (Cookiebot CMP)
8.5.1 Company Overview
8.5.2 Recent strategies and developments:
8.5.2.1 Partnerships, Collaborations, and Agreements:
8.5.2.2 Acquisition and Mergers:
8.6 Iubenda s.r.l
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Product Launches and Product Expansions:
8.7 Trunomi, Inc.
8.7.1 Company Overview
8.7.2 Recent strategies and developments:
8.7.2.1 Partnerships, Collaborations, and Agreements:
8.8 Crownpeak Technology, Inc.
8.8.1 Company Overview
8.8.2 Recent strategies and developments:
8.8.2.1 Partnerships, Collaborations, and Agreements:
8.8.2.2 Product Launches and Product Expansions:
8.8.2.3 Acquisition and Mergers:
8.9 BigID, Inc.
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Product Launches and Product Expansions:
8.10. Civic UK (Cookie Control)
8.10.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/jnibf9
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