Consent Management Market Set for Explosive Growth at a CAGR of 21.9% by 2030

September 17, 2024 06:59 AM PDT | By EIN Presswire
 Consent Management Market Set for Explosive Growth at a CAGR of 21.9% by 2030
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Increase in need to build trust with users and ease in policy compliance drive the growth of the global consent management market. PORTLAND, OR, UNITED STATES, September 17, 2024 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global consent management market size generated $318.3 million in 2020 and is expected to reach $2.27 billion by 2030, registering a CAGR of 21.9% from 2021 to 2030.

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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Covid-19 scenario:

1. 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.

2. A rise in the number of cyber-attacks during the pandemic prompted several government agencies and policymakers to implement data privacy regulations and policies.

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.

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Based on 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.

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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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

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