At present, the whole world is experiencing strict data privacy legislation across the global economies. Globally operating organizations has no options left but to adopt cross-border and cross-regulatory compliance strategies to efficiently operate in the system. One of the major factors that has drastically impacted the way companies interact with customers and uses customer’s data is the General Data Protection Regulation (GDPR), a data privacy regulation enforced by European Union (EU) on May 2018. As per the GDPR, the organizations across the world must have to take consent of EU citizen whose personal data it wants to process. Consent management platform and solutions helps the website to meet the GDPR regulation and compliance, by gaining user consent for collecting their data (and for further using it) during website visit via cookies.
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Market Overview and Dynamics
The consent management market in Europe was valued at US$120.99 million in 2019 and is projected to reach US$ 455.84 million by 2027; it is expected to grow at a CAGR of 18.5% from 2020 to 2027. Stringent government regulations regarding the data protection of people are driving the growth of consent management across the region. However, the preference of privacy tools over consent management solutions is a hindering factor to the consent management market growth. Further, technological advancement is creating business opportunities for companies operating in the market to achieve a significant share of consent management market.
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Key Market Segments
In terms of component, the solution segment accounted for the larger share of the Europe consent management market in 2019. In terms of deployment, the cloud segment held a larger market share of the consent management market in 2019. Further, in terms of end-use industry, the BFSI segment held a larger share of the market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred while preparing this report on the consent management market in Europe are company websites, annual reports, financial reports, national government documents, statistical database, and among others. Consentmanager.net, Crownpeak Technology, Inc., IBM Corporation, Trustarc Inc., Onetrust, LLC, Piwik PRO, Rakuten Advertising, and Cybot are the major companies listed in the report.
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Reasons to buy report
- To understand the Europe consent management market landscape and identify market segments that are most likely to guarantee a strong return
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe consent management market
- Obtain market revenue forecast for market by various segments from 2020 to 2027 in Europe region.
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