At 15.5% CAGR, the Middle East & Africa Consent Management Market is Projected to be Worth US$ 66.69 Million By 2030, says Business Market Insights.

According to Business Market Insights' research, the Middle East & Africa consent management market was valued at US$ 21.10 in 2022 and is expected to reach US$ 66.69 million by 2030, registering a CAGR of 15.5% from 2022 to 2030. Growing data breaches across various industries are among the critical factors attributed to the Middle East & Africa consent management market expansion.

In recent years, it has been noticed that several organizations across various industries have faced criticism because of customer 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 cybercrimes is affecting various organizations’ brand value. Several organizations across industries have faced major challenges in securing their customers’ data from cyber hackers in recent years. These incidents have led various large organizations and small & medium enterprises to opt for consent management solutions to protect the information of their customers. This factor is helping the players operating in the Middle East & Africa consent management market to capitalize their customer base and revenues. Some of the data breach incidents that occurred in recent years are:

In January 2021, Parler, the conservative social media app, witnessed that a hacker scraped its data. Approximately 70 TB of information was leaked, which included 99.9% of posts, messages, and video data containing EXIF data — metadata of date, time, and location. In addition, Parler’s Verified Citizens, or the users who had verified their identity by uploading their driving license or other photo ID, were also exposed.

In February 2021, Nebraska Medicine announced that through a malware attack, a hacker accessed and copied files containing the personal and medical information of 219,000 patients.

On the contrary, growing adoption of other privacy tools hampers the growth Middle East & Africa consent management market.

Based on component, the Middle East & Africa consent management market is bifurcated into solution and services. The solution segment held 79.5% market share in 2022, amassing US$ 16.77 million. It is projected to garner US$ 54.35 million by 2030 to expand at 15.8% CAGR during 2022–2030.

In terms of deployment, the Middle East & Africa consent management market is bifurcated into on- premises and cloud-based. The cloud-based segment held 62.2% share of the Middle East & Africa consent management market in 2022, amassing US$ 13.12 million. It is projected to garner US$ 43.13 million by 2030 to expand at 16.0% CAGR during 2022–2030.

By end-use industry, the Middle East & Africa consent management market is categorized into retail, government, IT & telecom, BFSI, healthcare, education, media & entertainment, and others. The BFSI segment held 31.5% share of Middle East & Africa consent management market in 2022, amassing US$ 6.64 million. It is projected to garner US$ 25.70 million by 2030 to expand at 18.4% CAGR during 2022–2030.

Based on country, the Middle East & Africa consent management market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The UAE held 39.0% share of Middle East & Africa consent management market in 2022, amassing US$ 8.22 million. It is projected to garner US$ 24.66 million by 2030 to expand at 14.7% CAGR during 2022–2030.

Key players operating in the Middle East & Africa consent management market IBM, PIWIK PRO LLC, Rauten Marketing LLC, and CASSIE, among others.

• In May 2021, DataGuard, a data privacy and information security company, launched a new Consent and Preference Management platform, DataGuard Consent Management. The platform helps capture and manage the consent and preferences of customers, users, and employees.
• In Feb 2020, the new company integrated together Rakuten Marketing’s expansive affiliate network, programmatic retargeting, and prospecting technology with consumer insights from Rakuten Intelligence, and a unique set of global media properties so that brands can discover rich audiences and build enduring relationships including Rakuten TV, Rakuten Viber, and Rakuten Viki.