Benefits of Implementing a Consent Management Platform

The global consent management market is poised for substantial growth, projected to exceed USD 2,550.8 million by 2034, with a robust compound annual growth rate (CAGR) of 10.8% from 2024. In 2024, the market is estimated to be valued at USD 917.2 million, reflecting increasing adoption across industries to manage data privacy and consent requirements.

Consent management solutions play a critical role in helping organizations adhere to stringent data protection regulations such as GDPR (General Data Protection Regulation) and CCPA (California Consumer Privacy Act). These solutions enable businesses to collect, store, and manage user consents effectively, ensuring compliance and fostering trust with customers.

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Key Takeaways from the Consent Management Market Report:

• In 2023, the global market size stood at US$ 840.0 million.
• The consent management platform segment occupied 74.90% of the market shares in 2024.
• The large enterprise segment captured 27.10% of the market share in 2024.
• The market size in the United States is projected to rise at an 8.1% CAGR through 2034.
• The market size in Germany is anticipated to develop at a 10.9% CAGR through 2034.
• The market size in Japan is estimated to surge at an 11.2% CAGR through 2034.
• The market size in Australia is expected to thrive at a 13.2% CAGR through 2034.

"The consent management industry is influenced by legal changes, technical advances, and user expectations. Our findings highlight the strategic imperatives for firms to emphasize open data practices, harness AI for increased efficiency, adopt contextual consent models, traverse global legal complexity, and strike the correct balance between tradition and innovation. These variables will be critical in determining the success trajectories of enterprises in the consent management industry in the next years."opines Sudip Saha, managing director at Future Market Insights (FMI) analyst.

Competitive Landscape

Key players in the consent management market’s competitive landscape provide a full range of solutions that solve the complex concerns of user permission, data transparency, and compliance with data protection legislation.

These leaders use their substantial resources, industry experience, and established customer bases to provide scalable, enterprise-wide solutions that address the diversified demands of significant businesses operating in a variety of industries.

Key Players in the Consent Management Market

• OneTrust
• TrustArc
• Cookiebot by Cybot A/S
• Quantcast Choice
• Crownpeak
• Didomi
• Usercentrics
• Piwik PRO
• TrustCommander
• CookieYes

Recent Developments Observed by FMI:

• In November 2023, InMobi, a leading provider of content monetization and marketing technologies that help businesses fuel growth, launched the InMobi Choice Consent Management Platform (InMobi CMP), a self-service solution designed to help publishers align with rapidly changing global privacy regulations.
• Rudderstack announced a fully integrated consent solution in October 2023 that works with both first-class permission solutions like OneTrust and custom-built systems.

Consent Management Market Segmentation

By Solution:

• Consent Management Platform
• Consent Preference Management
• Compliance Management
• Cookie Consent Management
• Data Subject Rights Management
• Vendor Privacy Risk Management
• Privacy Assessments
• Others

By Services:

• Consulting Services
• Compliance Assessment and Audit
• Policy Development and Implementation
• Training and Education
• Data Mapping and Inventory
• Consent Lifecycle Management
• Incident Response and Management
• Vendor and Third-Party Management
• Others

By Deployment:

• Cloud
• On-Premises

By Enterprise Size:

• SMEs
• Large Enterprises

By Industry:

• Finance
• Manufacturing & Resources
• Distribution Services
• Services
• Public Sector
• Infrastructure

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• Japan