Global Tokenization Market is Projected to Register a Healthy CAGR of 22.45%

Posted by kelvindbmr on November 22nd, 2019

Global tokenization market is expected to rise to an estimated value of USD 4495.79 million by 2026, registering a healthy CAGR of 22.45% in the forecast period of 2019-2026. Rising demand for standalone tokenization services and cloud- based tokenization solutions is the major factor for the growth of this market.

Tokenization is specially designed security systems which are specially designed to avoid the unauthorised access to the important data and information. It protects all the data during transaction which can be done through smartphones, laptops, tablets etc. Application programming interface and gateway- based are the two of the common tokenization technique. These techniques are widely used in the industries like automotive, IT and Telecom, healthcare, government etc. Increasing payments frauds are the major fuelling the growth of this market.

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Competitive Analysis: Global Tokenization Market

Global tokenization market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of tokenization market for global, Europe, North America, Asia-Pacific and South America.

Major Market Competitors/Players: Global Tokenization Market

Few of the major competitors currently working in the global tokenization market are First Data Corporation, Gemalto, Fiserv, Inc, Micro Focus, Symantec Corporation, Thales eSecurity, WEX Inc., CipherCloud, Futurex, OpenText Corp., Worldpay, Protegrity USA, Inc., TokenEx, Bluefin Payment Systems, Sequent Software Inc, Discover Bank, Carta Worldwide, Ingenico Group., Verifone., Mastercard., Merchant Link, Rambus.com.

Segmentation: Global Tokenization Market

• By Component (Solution, Services)
• By Application Area (Payment Security, User Authentication, Compliance Management),
• By Tokenization Technique (Application Programming Interface (API)-Based, Gateway- Based),
• By Deployment Mode (Cloud, On- Premises)
• By Organization Size (Small and Medium-Sized Enterprises, Large Enterprises)
• By Vertical (Banking, Financial Services, and Insurance, Government, Retail, Healthcare, IT and Telecom, Energy and Utilities, Automotive, Education, Others)
• By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Market Drivers:

• Increasing compulsion to follow PCI-DSS Guidelines is driving the growth of this market
• Rising payment frauds is driving the market growth
• Growing prevalence for cloud-based tokenization solutions is another factor driving the market growth
• Rising demand for contactless payment solutions is driving the market growth

Market Restraints:

• Dearth of knowledge about security tokens among population is restraining the market growth
• Increasing organization inability to afford strong tokenization solutions is restraining market.

Key Insights in the report:

• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved

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