January 15 2020
Global Tokenization Market - Overview
Tokenization is the process of replacing sensitive data such as financial credentials with symbols that are unique in retaining the information. The primary objective of tokenization platform is to replace existing payment data from businesses with cryptic tokens which cannot be hacked and store them in the cloud. It also strengthens the security standards on credit card transactions by reducing the complexity of compliance and cost associated with it. Small and medium enterprises are widely adopting tokenization which helps in minimising data stored on-premises. The primary advantage of tokenization is that it helps in keeping the financial data safe from internal and external threats.
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The global tokenization market is primarily driven by increasing secured payment transactions among enterprises, reducing frauds, rising adoption in BFSI sector are primarily driving the market. Integration of tokenization with bigdata strengthens the security of the sensitive content which could be an opportunity for the market in the coming years.
Tokenization Global market is expected to grow at USD ~$2341.38 Billion by 2023, at ~24.14% of CAGR between 2017 and 2023.
Key Players
The prominent players in the Tokenization Market are –Symantec Corporation (US), Gemalto NV (Netherlands), CardConnect Corp. (US), Thales e-Security, Inc. (US), CyberSource Corporation (US), 3Delta Systems, Inc.(US), CipherCloud (US), Hewlett-Packard Enterprises (US), Liaison Technologies, Inc.(US), Futurex (US), Fiserv, Inc. (US), Paymetric, Inc. (US), First Data Corporation (US), and TokenEx LLC (US), Protegrity USA, Inc. (US) among others
Global Tokenization Market - Segmentation
The Global Tokenization Market can be segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Global Tokenization Market - Regional Analysis
The global tokenization market is studied for North America, Europe, Asia pacific and rest of the world. North America is estimated to hold major market share during the forecast period. The presence of key players in the region, increase in online transactions and related frauds are driving the market. The rising demand from banking industry is likely to drive the market over the coming years. Asia pacific region is expected to substantial growth rate during the forecast period. The rise in payment transactions across SMEs and rising investments for tokenization solutions are driving the market in this region. The rising awareness of online transactions across untapped economies in developing countries like India and China are fuelling the market growth.
Industry News
March 2018 - Mastercard Inc., an American multinational financial services corporation deployed payment solution which powers MasterCard digital enablement service tokenization for secured payment in mobile devices. The solution supports emerging payment platforms like Apple Pay, Android Pay, Samsung Pay and others which helps in enabling payment processing in wearable devices.
March, 2018 – WePower, the blockchain based energy trading platform partnered with industries like Elering AS, 220Energia and Eleon in Estonia to develop full cycle tokenized energy ecosystem. The solution is to launch pilot project for testing tokenization of energy which is based on the blockchain technology.
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Table Of Contents
List Of Figures
Figure 1 Research Methodology
Figure 2 Tokenization Market: By Component (%)
Figure 3 Tokenization Market: By Application Area (%)
Figure 4 Tokenization Market: By Deployment (%)
Figure 5 Tokenization Market: By Organization Size (%)
Figure 6 Tokenization Market: By End-User (%)
Figure 7 Tokenization Market: By Region (%)
Figure 8 North America Tokenization Market, By Component (%)
Figure 9 North America Tokenization Market, By Application Area (%)
Figure 10 North America Tokenization Market, By Deployment (%)
Figure 11 North America Tokenization Market, By Organization Size (%)
Figure 12 North America Tokenization Market, By End-User (%)
Figure 13 North America Tokenization Market, By Region (%)
Figure 14 Europe Tokenization Market, By Component (%)
Figure 15 Europe Tokenization Market, By Application Area (%)
Figure 16 Europe Tokenization Market, By Deployment (%)
Figure 17 Europe Tokenization Market, By Organization Size (%)
Figure 18 Europe Tokenization Market, By End-User (%)
Figure 19 Europe Tokenization Market, By Region (%)
Figure 20 Asia-Pacific Tokenization Market, By Component (%)
Continued…
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