The Europe Consent Management Market would witness market growth of 20.1% CAGR during the forecast period (2021-2027).
Consent management design requires the inclusion of a consent management engine, consent collection, and data processing. The companies in the global omnichannel marketing gather consents via various customer-facing channels like mobile apps, websites, contact centers, user profiles, and points of sale. After consents are accumulated, all these consents are stored in a central consent repository. Consent repositories are developed to be a safe database and one source of truth for every data processing based on data subject consent. Also, the consent management engine recognizes data subjects and synchronizes their consent preferences gathered via any collection point.
The increasing awareness on data compliance regulations, rising demand for customers to manage their consent & preferences, growing number of cyberattacks, data breaches and the requirement for data security, and the deployment of Privacy by Design (PbD) to improve data privacy are among the key aspects propelling the growth of the consent management market.
Moreover, the changing regulatory landscape and the existence of open-source consent management software vendors are the key challenges for consent management providers across the globe. In addition, it becomes hard for the customer to know who has given access to their personal data, which would hamper the growth of the consent management market.
The prevalence of stringent regulations and policies regarding the protection of customers’ sensitive data is among the key aspects fueling the growth of the regional consent management market. In addition, the rapid pace of business transformation in various European countries is motivating companies to increasingly implement consent management platforms in order to boost the efficiency of their businesses, which would surge the growth of the regional market.
Europe is the prominent region after enacting the GDPR and the need for data controllers to get consent prior to their collection and usage of personal information. The rapid business transformation in Europe is boosting the implementation of highly deploying consent management platforms to make their businesses more efficient. Due to this, the growth of the regional consent management market would surge at a significant rate during the forecast period.
The Germany market dominated the Europe On-premise Consent Management Market by Country 2020, thereby, achieving a market value of $36.5 million by 2027. The UK market is showcasing a CAGR of 20.9% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 22.7% during (2021 - 2027).
Based on Component, the market is segmented into Software and Services. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Touch Point, the market is segmented into Mobile App and Web App. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Consent Management Market Size will Hit $1.2 Billion by 2027, at a CAGR of 21.9%
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.
By Component
By Deployment Mode
By Touch Point
By Country
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