0
Items : 0
Subtotal : £0.00
View Cart Check Out

Global Tokenization Market Was Valued US$ 850.34 Mn In 2017 And Is Expected To Reach US$ 3432.54 Mn By 2026

Global Tokenization Market Was Valued US$ 850.34 Mn In 2017 And Is Expected To Reach US$ 3432.54 Mn By 2026


 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.

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.

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