Consent Management Platforms Statistics


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Consent Management Platforms Statistics 2023: Facts about Consent Management Platforms outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Consent Management Platforms, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

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Top Consent Management Platforms Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 15 Consent Management Platforms Statistics on this page 🙂

Consent Management Platforms “Latest” Statistics

  • TCF registered vendors enabled monitoring for reasons for which they did not have customers’ authorization or a legitimate interest in doing so, accounting for 45% of the consent mismatches.[1]
  • A company that violates the terms of consent might be fined up to €20 million or 4% of its annual worldwide sales, whichever is greater.[2]
  • The market for consent management was estimated to be worth $318.3 million in 2020, and it is anticipated to grow to $2,271.1 million by 2030, at a CAGR of 21.9% from 2021 to 2030.[3]
  • Without a consent management platform, it may be almost hard to locate and regulate the cookies and trackers on websites since 72% of cookies are disguised as trojan horses or other trackers.[4]
  • Only 40% of respondents surveyed claimed to have bought or intend to buy consent management tools.[5]

Consent Management Platforms “Other” Statistics

  • By 2023, 65% of the world’s population will be subject to one of several privacy laws that will protect their personal information.[6]
  • Consent Management Providers (CMPs) provide consent pop-ups that are embedded in ever more websites over time to enable streamlined compliance with the legal requirements for consent mandated by the ePrivacy Directive and the General Data Protection Regulation (GDPR).[7]
  • More than 57% of consumers, according to a poll by privacy compliance technology firm TrustArc, choose businesses that display badges or seals attesting to their GDPR compliance over those that do not.[3]
  • According to a June 2018 survey of 328 privacy professionals worldwide conducted by TrustArc and the International Association of Privacy Professionals, companies are purchasing CMPs less often than other privacy-focused products.[5]
  • Adzerk examined how CMPs were used by the 10,000 most popular websites in the US and the UK, as determined by Alexa rankings.[5]
  • Companies that violate the GDPR face a fine of €20 million ($22.1 million) or 4% of global revenues, whichever is greater.[5]
  • Since July, the first month that Adzerk started monitoring CMP use, the study discovered that more popular websites are now employing CMPs in both the UK and the US, by an increase of roughly 3 percentage points.[5]
  • According to Mediavine, CPMs were 52% higher and fill rates were 39% higher for websites that used a CMP.[8]
  • Google’s CMP (known as Google Funding Choices) is in 81 sites across the Top 10 US sites (as of Q3 2021), making it the 6th most-common IAB-certified CMP.[8]
  • Quantcast reports a 90% opt-in rate while Purch’s is still high at 70%, showing that the intrusiveness of the prompt isn’t stopping consumers from interacting with the material.[8]

Also Read

One of the key benefits of consent management platforms is that they provide transparency and control to users over their personal information. By implementing these platforms, businesses can clearly communicate their data collection practices to users and give them the ability to make informed decisions about whether they want to opt-in or opt-out of data processing activities. This not only helps to build trust with their customers but also ensures that companies are respecting the rights and preferences of individuals when it comes to their data.

Another advantage of using consent management platforms is that they help businesses streamline their compliance efforts with various laws and regulations, such as the General Data Protection Regulation (GDPR) in the European Union or the California Consumer Privacy Act (CCPA) in the United States. These platforms provide a centralized way for companies to manage consent across their websites, applications, and other digital channels, making it easier to demonstrate compliance with the legal requirements and avoid potential fines or penalties for non-compliance.

Furthermore, consent management platforms can also help businesses enhance their data governance practices by offering features such as consent analytics and reporting. These tools allow companies to monitor and track how users are interacting with their consent mechanisms, identify potential areas of improvement, and demonstrate accountability in their data processing activities. By having access to these insights, organizations can continuously optimize their consent processes and ensure that they are effectively meeting the expectations of both users and regulators.

Overall, consent management platforms play a crucial role in today’s data-driven economy by empowering users to control their personal information, helping businesses navigate complex privacy regulations, and enhancing data governance practices. While implementing these platforms may require an initial investment of time and resources, the long-term benefits of building trust with customers, ensuring compliance with laws, and improving data handling practices far outweigh the costs. In an era where data privacy is a top priority for individuals and regulators alike, businesses that prioritize implementing robust consent management platforms will undoubtedly gain a competitive edge and establish themselves as leaders in the digital marketplace.

Reference


  1. digiday – https://digiday.com/media/ad-trackers-continue-to-collect-europeans-data-without-consent-under-the-gdpr-say-ad-data-detectives/
  2. ethyca – https://ethyca.com/about-consent-management
  3. alliedmarketresearch – https://www.alliedmarketresearch.com/consent-management-market-A13703
  4. cookiebot – https://www.cookiebot.com/en/consent-management-platform-cmp-cookiebot-cmp/
  5. insiderintelligence – https://www.insiderintelligence.com/content/how-the-gdpr-helps-consent-management-platforms
  6. adtelligent – https://adtelligent.com/blog/what-is-consent-management-platform/
  7. springer – https://link.springer.com/chapter/10.1007/978-3-030-76663-4_3
  8. kevel – https://www.kevel.com/blog/consent-management-platforms/

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