Tokenization - 2020 Market Analysis by Size, Share and Regional Forecast 2023
Posted by Akash Sangshetti on February 6th, 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.
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.
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.
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.
Table Of Contents
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure:
1.3.1 Global Tokenization Market: By Component
1.3.2 Global Tokenization Market: By Application Area
1.3.3 Global Tokenization Market: By Deployments
1.3.4 Global Tokenization Market: By Organization Size
1.3.5 Global Tokenization Market: By End User
1.3.6 Global Tokenization Market: By Region
2 Research Methodology
2.1 Research Component
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
4 Executive Summary
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About the AuthorAkash Sangshetti
Joined: October 1st, 2019
Articles Posted: 322
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