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The Global Tokenization Market was valued at USD 685.78 million in 2016 and is projected to reach USD 4272.54 million by 2025, growing at a CAGR of 22.54% from 2017 to 2025.
Tokenization is the process of replacing sensitive data with unique identification symbols that retain all the essential information about the data without compromising its security. Tokenization makes it more difficult for hackers to gain access to users’ data. Benefits of tokenization include â€" internal protection, reducing PCI scope, online protection, compatibility with other technologies, reduces risk of data loss, and secures sensitive data.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Increasing adoption of contactless payments
1.2 Emergence of tokenization-as-a-service model
1.3 Increasing credit card fraudulent activities
1.4 Increasing demand for payment security for digital e-commerce
1.5 Growing demand for PCI-DSS compliance
2. Market Restraints
2.1 Budget constraints
2.2 Poor knowledge about security tokens among end user
2.3 Competition with traditional IT security Systems
Market Segmentation:
The Global Tokenization Market is segmented on the application area, component, organization size, deployment model, vertical, and region.
1. By Application Area:
1.1 Compliance Management
1.2 User Authentication
1.3 Payment Security
2. By Component:
2.1 Solution
2.2 Service
2.2.1 Managed services
2.2.2 Professional services
2.2.2.1 Training and Education
2.2.2.2 Consulting
2.2.2.3 Integration Services
2.2.2.4 Support and Maintenance
3. By Organization Size:
3.1 Large Companies
3.2 Small and Medium Businesses
4. By Deployment Model:
4.1 Cloud-based
4.2 On-premise
5. By Vertical:
5.1 Telecom and IT
5.2 Automotive
5.3 Healthcare
5.4 Government
5.5 Banking, Financial Services, and Insurance (BFSI)
5.6 Retail
5.7 Education
5.8 Others
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Tokenex, LLC
2. Paymetric, Inc.
3. Liaison Technologies, Inc.
4. Futurex
5. Hewlett Packard Enterprise
6. Ciphercloud
7. Symantec Corporation
8. First Data Corporation
9. Gemalto NV
10. Cardconnect Corp.
11. Cybersource
12. Thales E-Security, Inc.
13. Protegrity Usa, Inc.
14. 3delta Systems, Inc.
15. Fiserv, Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Tokenization Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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