The office of the Data Protection Commissioner will then engage with the major companies to establish a code of conduct.
This comes after findings that by the time they turn 13, advertising technology companies could have gathered over 70 million pieces of information on a child from their online foot print.
Dylan Collins, CEO of SuperAwesome, which promotes digital awareness for young people, says it is a major issue.
"With schools shut and lockdown associated with Covid-19, children's screen time has doubled and in some cases tripled.
"That's dramatically increased the amount of personal information that's being harvested, sometimes intentionally, sometimes unintentionally, by all of these companies, so it really is a major issue."
Last month, the Data Commissioner assessed popular video-sharing platform TikTok after the company announced plans to establish a data centre in Ireland.
The centre in Ireland would be the company's first in Europe and if it passes the Irish Data Commissioner's One Stop Shop (OSS) rules, it would not be subject to scrutiny by data protection regulators from all EU states, just Ireland.
