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 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

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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

CMPs offer companies a way to ensure that they are collecting and processing data in a transparent and ethical manner. These platforms give consumers more control over their data by allowing them to choose what information they want to share and how it can be used. By implementing a consent management platform, businesses can demonstrate their commitment to data privacy and show that they respect their customers’ right to control their own personal information.

One of the key benefits of using a consent management platform is that it can help businesses stay compliant with data protection regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). These regulations require businesses to obtain explicit consent from users before collecting and processing their personal data. Failure to comply with these regulations can result in hefty fines and reputational damage.

By using a consent management platform, businesses can ensure that they are obtaining valid consent from users and keeping detailed records of when and how that consent was obtained. This not only helps companies avoid regulatory penalties but also builds trust with consumers by demonstrating that their data is being handled responsibly.

CMPs also offer benefits beyond regulatory compliance. By giving consumers more control over their data, businesses can improve the overall customer experience. When users feel that they have a say in how their data is being used, they are more likely to trust the company and engage with its products or services. This can lead to higher levels of customer satisfaction, loyalty, and ultimately, increased revenue.

Furthermore, consent management platforms can also help businesses streamline their data collection and processing processes. By centralizing consent management activities, companies can more easily track and monitor data usage across various channels and platforms. This not only saves time and resources but also reduces the risk of data breaches and unauthorized access to sensitive information.

In conclusion, consent management platforms are a valuable tool for businesses looking to prioritize data privacy and build trust with their customers. By allowing users to control how their personal information is collected and used, CMPs help companies stay compliant with regulations, improve the customer experience, and enhance their overall data management practices. As data privacy continues to be a top concern for consumers, investing in a consent management platform is not only a smart business decision but also a necessary step towards earning and maintaining the trust of your audience.

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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