As per this study the Global Tokenization Market was valued USD 3.96 BN (by revenue) in 2022 and is anticipated to reach USD 17.3 BN by 2030 with a CAGR of 20%.
Tokenization is the process of replacing sensitive data with unique identification. It randomly generates a token value for plain text and stores the mapping in a database. Tokenization decreases the amount of data a business needs to keep and provide security as well. It's a modern way to secure credit card and e-commerce transactions for organizations with less cost and complexity of compliance with industry and government regulations.
Market Dynamics
The increasing need to secure data owing to increasing payment frauds is driving the market growth. Mandate to follow PCI-DSS (Payment Card Industry Data Security Standard) guidelines and protect cardholder's data is again accelerating the market growth. Additionally, the emergence of targeted attacks is further fuelling market growth. On the flip side, organizations inability to afford robust tokenization solutions and addressing vulnerabilities according to EMV (Europay, MasterCard®, and Visa®) Standards may hinder market growth. Whereas, increasing demand for contactless payment solutions is expected to offer opportunity over the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of tokenization.
Market Segmentation
The broad tokenizationmarket has been sub-grouped into component, application area, deployment, organization size and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Component
By Services
- Professional Services
- Managed Services
By Application Area
- Payment Security
- User Authentication
- Compliance Management
By Tokenization Technique
By Deployment Mode
By Organization Size
By Vertical
- Banking Financial Services, and Insuranc
- Healthcare
- IT and ITeS
- Goverment
- Retail & Commerce
- Energy & Utilities
- Other Verticals
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for tokenization in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Tokenization Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the tokenization market includes Fiserv (US), Visa (US), Mastercard (US) Micro Focus (UK), American Express (US) Thales (France) Lookout (US), Futurex (US), CardConnect (US), FIS (US). An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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