North America Consent Management Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component, Deployment, End-Use Industry, and Country

The consent management market in North America was valued at US$ 112.85 million in 2019 and is projected to reach US$ 355.73 million by 2027; it is expected to grow at a CAGR of 15.9% from 2020 to 2027. In recent years, it has been noticed that several organizations across various industries have faced criticism because of customer's data leakage. Customer information is the prime resource of every organization, and securing the data is one of the critical tasks of the organization. However, in this digitalized era, the rise in cybercrime is affecting various organizations' brand value. Several organizations across industries have faced major challenges in securing their customer's data from cyber hackers in recent years. These incidents have led various large organizations as well as small & medium enterprises to opt for consent management solutions to protect the information of their customers. Therefore, the growing number of security breaches is creating an increasing demand for user data privacy, which is supporting the growth of the consent management market.

Based on the component, the consent management market is segmented into solution and services. The solution segment held the larger share of the consent management market in 2019. A consent management software ensures that businesses and websites maintain the needed regulatory measures and inform the visitors about the data that would be asked for consent for specific data-processing applications. In applications such as processing of personal data, automated decision making such as behavioral profiling, and overseas transfer of data, the presence of a consent management software eases down the processes. Comprehensive end-to-end consent management software provides all the publishers an efficient way to handle the user's consents, manage data subjects' requests, and eventually pass all consent-related data to the respective ad partners.

In North America region, the US is heavily hit by the coronavirus and has massive number of confirmed cases of coronavirus, as, compared to Canada and Mexico. The increase in positive cases are likely to impact businesses of diversified industries prevailing in North America. The US is known for making technologically developments due to presence of broad category of technology companies. Presence of IBM Corporation and OneTrust LLC will help in contributing towards the growth of the consent management market.

The overall North America consent management market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the consent management market. The process also serves the purpose of obtaining an overview and forecast for the North America consent management market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America consent management market are Crownpeak Technology, Inc., HIPAAT International Inc., IBM Corporation, Trustarc Inc., OneTrust, LLC, Piwik PRO, PossibleNOW, Inc., Rakuten Advertising, and Cybot are among a few players operating in the North America consent management market.

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