GRC Viewpoint

Consent Mangement Service Market Trends

The consent management service market is expected to witness steady growth towards 2030. 

According to estimates, the global market for consent management services was valued at US$341.54 million in 2019 and is expected to grow to US$1,218.23 million by 2030, at a CAGR of 18.1%. (Data is from Adroit Market Research, a global business analytics and consulting company founded in 2018).

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There have been critical breaches in the recent past. The increasing number of violations has alerted people and organizations regarding the importance of data safeguarding.

Growing data breaches and cyberattacks, escalating consumer demand for control over their preferences and consent, and ongoing developments in digital consent management platforms have been the market drivers.

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Publishers adopting consent management platforms at a faster rate is another driving factor. Besides, an expanding number of companies globally complying with GDPR and CCPA data privacy policies also fuel market growth.

It is time for the market to leverage these trends effectively for a long-sighted approach. However, there are some obstacles to overcome. For instance, The dynamic and ever-changing regulatory environment and the availability of substitute open consent management solutions may slow down growth. 

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