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 global The Tokenization market is expected to grow at USD ~$2341.38 Billion by 2023, at ~24.14% of CAGR between 2017 and 2023.
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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.
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 - Competitive Analysis
The Market of tokenization market appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms. Prominent vendors of tokenization market are targeting to invest more in technology and research and development activities to innovate their already existing technology.
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;
Segmentation by component: Comprises solution and services (professional and managed services)
Segmentation by Application Area: Comprises payment security, user authentication, compliance management and others
Segmentation by deployment: Comprises on-cloud and on-premise
Segmentation by organization size: Comprises SME and large enterprises
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
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.
Payment solution providers
Information Technology security agencies
Managed Security Service Providers
Tokenization Service Provider
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Table Of Contents
List Of Figures
Figure 1 Research Methodology
Figure 2 Tokenization Market: By Component (%)
Figure 3 Tokenization Market: By Application Area (%)
Figure 4 Tokenization Market: By Deployment (%)
Figure 5 Tokenization Market: By Organization Size (%)
Figure 6 Tokenization Market: By End-User (%)
Figure 7 Tokenization Market: By Region (%)
Figure 8 North America Tokenization Market, By Component (%)
Figure 9 North America Tokenization Market, By Application Area (%)
Figure 10 North America Tokenization Market, By Deployment (%)
Figure 11 North America Tokenization Market, By Organization Size (%)
Figure 12 North America Tokenization Market, By End-User (%)
Figure 13 North America Tokenization Market, By Region (%)
Figure 14 Europe Tokenization Market, By Component (%)
Figure 15 Europe Tokenization Market, By Application Area (%)
Figure 16 Europe Tokenization Market, By Deployment (%)
Figure 17 Europe Tokenization Market, By Organization Size (%)
Figure 18 Europe Tokenization Market, By End-User (%)
Figure 19 Europe Tokenization Market, By Region (%)
Figure 20 Asia-Pacific Tokenization Market, By Component (%)
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