July 18, 2020

Tokenization Market Upcoming Trends, Incredible Possibilities, Business Opportunities and Regional Outlook

Global tokenization market was valued US$ 850.34 Mn in 2017 and is expected to reach US$ 3432.54 Mn by 2026, at a CAGR of 19.06% during a forecast period.

Tokenization is a process of replacing sensitive data with unique identification symbols that retain all the vital information about the data without compromising its security. Tokenization is a solution that provides real-time payment of data security for all the transactions via tablets, smartphones, laptops, and other devices. It doesn’t rely on encryption keys so organizations don’t have to worry about managing such sensitive data.

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Rising banking applications and increasing credit card holders are boosting the tokenization market. Tokenization market has experienced considerable growth owing to a large number of financial firms opting for raising security in payment processing systems. Protected customer data, use of digital payments, reduced risk, and carefulness of banks toward frauds are adding fuel to the growth of the market. However, tokenization systems require large data space, the high cost of implementation, and upgrade of hardware required for tokenization is restrains the growth of the market.

The payment security application area is estimated to the largest market share during the forecast period owing to increased complexities in the payment transactions. The challenges of managing the sensitive information of users, payment security has become a key point of concern for organizations.

Cloud deployment is the fastest-growing deployment in the tokenization market. SMEs have implemented the cloud deployment model as it enables them to focus on their core competencies, rather than investing their capital on payment infrastructure.

Growing adaptation of new technology in payment security industry is estimated to drive the tokenization market in North America. So that, North America is leading in countries as payment security reduces the security risk posed by payment data in the systems. The Asia Pacific is projected to witness good growth owing to increasing adoption of such software in India, Japan, Philippines, and Singapore.

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Key players in the global tokenization market are Gemalto NV, Futurex, CipherCloud, Inc., Symantec Corporation, Hewlett Packard Enterprise Development L.P., Protegrity USA, Inc., TokenEx, First Data Corporation, Fiserv, Micro Focus, Visa, WEX, Thales e-Security, Inc., Worldpay, CyberSource Corporation, Dell Technologies, Liaison Technologies, Protegrity, Bluefin, Sequent Software, Discover Financial Services, Carta Worldwide, Merchant Link, Ingenico ePayments, Rambus, Mastercard, Verifone, and IP Solution International.

Scope of the Global Tokenization Market

Global Tokenization Market by Component

Professional services

Integration Services

Solution

Managed services

Service

Consulting

Support and Maintenance

Training and Education

Global Tokenization Market by Application

Payment Security Application Area

Compliance Management

Global Tokenization Market by Tokenization Technique

API-based

Gateway-based

Global Tokenization Market by Deployment Mode

On-premise

Cloud-based

Global Tokenization Market by Organization Size

Small and Medium Enterprise

Large Enterprise

Global Tokenization Market by Vertical

BFSI

Retail and Consumer Goods

Government

Education

Military and Defense

IT and Telecom

Others

Global Tokenization Market by Geography

North America

Europe

Asia-Pacific

Middle East & Africa

South America

Key Players operating in the Global Tokenization Market

Gemalto NV

Futurex

CipherCloud, Inc.

Symantec Corporation

Hewlett Packard Enterprise Development L.P.

Protegrity USA, Inc.

TokenEx

First Data Corporation

Fiserv

Micro Focus

Visa

WEX

Thales e-Security, Inc.

Worldpay

CyberSource Corporation

Dell Technologies

Liaison Technologies

Protegrity

Bluefin

Sequent Software

Discover Financial Services

Carta Worldwide

Merchant Link

Ingenico ePayments

Rambus

Mastercard

Verifone

IP Solution International

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