Tokenization Market Report: Industry Trends & Company Profiles Analysis
Posted by Animesh Rao on June 29th, 2022
The Tokenization market is witnessing rapid traction. The market growth attributes to the increasing demand for secured payment security approaches to control rising online fraudulent cases. Rising preference for online shopping has led to the wide penetration of Internet usages and growing eCommerce business that allows online shopping sitting at the convenience of home.
This invariably allows equal opportunities for cybercriminals to conveniently breach codes of payment gates, making the systems vulnerable to their tricks. Technological advancements prove to be a two-edged sword allowing criminals to find new ways to crack the codes to replace authorized merchants' codes with dummies, gaining access to consumers' data and bank accounts.
Moreover, the fastest-growing deployment of Tokenization in increasing numbers of organizations to obtain enhanced speed management capabilities to provide 24/7 purchasing services escalate the market demand. In its recently published analysis, Market Research Future (MRFR) asserts that the Tokenization Market is expected to grow at 20% CAGR and will reach at .2 Billion by 2030. By taking into account market share and market trend, the research report offers Tokenization market size, growth, sales, market revenue, expert review, SWOT analysis and future aspects of market growth.
Additionally, the advantages of Tokenization that offer organizations the data security on the customer's demand and helps with DSS regulatory compliances influence market growth. Growing eCommerce & mCommerce industries, coupled with the online payment services offered by various service providers like utilities, gas, telecom, etc., are creating more opportunities for Tokenization fueling market growth. Improvement in outsourcing payment solution has grabbed the organization's attention towards the Tokenization.
Rising security concerns in banking activities are one of the key market growth propellers. Wide penetration of smartphones contributes to the tokenization market growth to an extent. Furthermore, the proliferation of Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) trends push the market growth, introducing many security threats associated with payment and data theft. Based on component, integration services is the largest segment in the global Tokenization market.
Tokenization Market Opportunities
Growing Adoption of Open-Banking APIs to offer Robust Opportunities
The growing adoption of open-banking APIs will offer robust opportunities for the market in the forecast period. The open banking mechanism helps third-party service providers to access financial information securely of customers and in real-time through APIs. Through this approach, banks can offer tailor-made financial products especially payment solutions to their customers.
Tokenization Market – Competitive Analysis
The tokenization market appears to be competitive due to the presence of several well-established players. These players initiate strategic moves such as mergers & acquisitions, collaboration, innovation, and brand reinforcement to gain a larger competitive share. The market would witness intensified competition with innovations and an increase in R&D investments and M&A.
Tokenization Market Key Players:
Players leading the global tokenization market are -
Tokenization Market – Segmentation
The report is segmented into six dynamics;
By Component : Solutions (indoor positioning system, outdoor positioning system, others) and Services (Professional, Integration, Managed, Consulting, Support & Maintenance, and Training & Education, and other services).
By Application Area: Payment Security, Compliance Management, User Authentication, and others.
By Deployment : On-Cloud and On-Premises.
By Organization Size: Small & Medium-sized Enterprises (SMEs) and Large Enterprises.
By End-User : BFSI, IT & Telecom, Healthcare, Government & Defense, Industrial, Commercial, Retail, Automotive, and others.
By Regions : North America, Europe, APAC, and Rest of the World.
Get Complete Report Details @ https://www.marketresearchfuture.com/reports/tokenization-market-3206
Tokenization Market – Regional Analysis
North America dominates the global tokenization market. The largest market share attributes to the growing adoption of advanced technologies in the payment security industry. Besides, the rising demand for secured processes to accept payment securely from online applications drives the market's growth. Moreover, the proliferation of payment security that reduces the security risk posed by payment data in the systems boost the growth of the regional market.
Europe stands second in the global tokenization market. This market is gaining momentum as businesses in the region are constantly monitoring new developments, shaping their PCI DSS technology. Additionally, the market is driven by the increasing penetration of the Internet and payment security needs.
The Asia Pacific tokenization market is also showing positive growth. Factors such as the rising preference for mobile payments and fraudulent cases of online payments influence the regional market's growth. China, Japan, and India hold a notable share in the regional market as the companies in these countries have found Tokenization to be a cheaper, easier to use, and more secure solution than end-to-end encryption payment processes.
Key Points Covered in the Report:
Table Of Contents
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure:
2 Research Methodology
2.1 Research Component
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
3 Market Dynamics
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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About the AuthorAnimesh Rao
Joined: June 1st, 2021
Articles Posted: 103
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