The overall tokenization market worldwide was valued at US$ 880.9 Mn in 2018 and is set to grow with a CAGR of 18.9% during the forecast period.
Market Insights
The robust need for protecting crucial data information from disclosure is the major growth driving factor for the tokenization market. Replacing data with unique identification symbols that hold all the necessary information for the data is called tokenization. To protect sensitive data information from fraud, the tokenization system has been used nowadays. Tokenization has various benefits such as gives protection from hackers and thieves, reduced PCI scope, provide online protection, and internal protection among others. The increase of data breach and cyber-attacks worldwide are the other major drivers for the increased demand for tokenization. On account of the wide application of tokenization in the financial sector, the market is showing huge demand. Therefore, we expect that the tokenization market will show robust growth throughout the forecast period.
Based on the application, the tokenization market is led by BFSI (banking, financial services, and insurance) segment in 2018. The BFSI segment has around 25% of the revenue share in the same year. While payment at various shopping stores, tokenization exempts merchants to keep client’s data in their systems. Growing cashless transactions worldwide is the major growth factor for the segment. According to the World Payments Report (WPR), the cashless transaction volumes are valued at US$ 482.6 Bn in 2016 and growing with around 10% annually. Further, for the security of the client’s privileged information banks, financial services, and insurance companies are adopting tokenization. As a result, we expect that the BFSI segment will show substantial growth during the forecast period.
Based on geography, North America was the largest region in 2018 for the tokenization market backed by Europe and the Asia Pacific. North America has over 35% value contribution in the same year. North America has the highest share owing to the early adoption and penetration of the tokenization system. In North America tokenization is widely being used in various industries such as BFSI, retail, defense, healthcare, and others. Strict government regulatory compliance and growth in payment security concerns in the region are the other major growth factors. Therefore, we expect that North America will show stagnant growth throughout the forecast period from 2019-2027.
Some of the major companies profiled in the report include First Data Corporation, Gemalto, Fiserv, Inc., Micro Focus, Symantec Corporation, Thales e-Security, Inc., Visa Inc., WEX Inc., Worldpay Group plc, CipherCloud , Liaison Technologies, Inc., Protegrity USA, Inc., TokenEx, Bluefin, Mastercard Incorporated, Ingenico, Discover Financial Services among others.
This product will be delivered within 2 business days.
Market Insights
The robust need for protecting crucial data information from disclosure is the major growth driving factor for the tokenization market. Replacing data with unique identification symbols that hold all the necessary information for the data is called tokenization. To protect sensitive data information from fraud, the tokenization system has been used nowadays. Tokenization has various benefits such as gives protection from hackers and thieves, reduced PCI scope, provide online protection, and internal protection among others. The increase of data breach and cyber-attacks worldwide are the other major drivers for the increased demand for tokenization. On account of the wide application of tokenization in the financial sector, the market is showing huge demand. Therefore, we expect that the tokenization market will show robust growth throughout the forecast period.
Based on the application, the tokenization market is led by BFSI (banking, financial services, and insurance) segment in 2018. The BFSI segment has around 25% of the revenue share in the same year. While payment at various shopping stores, tokenization exempts merchants to keep client’s data in their systems. Growing cashless transactions worldwide is the major growth factor for the segment. According to the World Payments Report (WPR), the cashless transaction volumes are valued at US$ 482.6 Bn in 2016 and growing with around 10% annually. Further, for the security of the client’s privileged information banks, financial services, and insurance companies are adopting tokenization. As a result, we expect that the BFSI segment will show substantial growth during the forecast period.
Based on geography, North America was the largest region in 2018 for the tokenization market backed by Europe and the Asia Pacific. North America has over 35% value contribution in the same year. North America has the highest share owing to the early adoption and penetration of the tokenization system. In North America tokenization is widely being used in various industries such as BFSI, retail, defense, healthcare, and others. Strict government regulatory compliance and growth in payment security concerns in the region are the other major growth factors. Therefore, we expect that North America will show stagnant growth throughout the forecast period from 2019-2027.
Some of the major companies profiled in the report include First Data Corporation, Gemalto, Fiserv, Inc., Micro Focus, Symantec Corporation, Thales e-Security, Inc., Visa Inc., WEX Inc., Worldpay Group plc, CipherCloud , Liaison Technologies, Inc., Protegrity USA, Inc., TokenEx, Bluefin, Mastercard Incorporated, Ingenico, Discover Financial Services among others.
This product will be delivered within 2 business days.
Table of Contents
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Tokenization Market, by Product
Chapter 5 Global Tokenization Market, by Application
Chapter 6 Global Tokenization Market, by Solution
Chapter 7 North America Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
Chapter 8 Europe Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
Chapter 9 Asia Pacific Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
Chapter 10 Rest of the World (RoW) Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
Chapter 11 Company Profiles
List of Figures:
List of Tables:
Companies Mentioned
- First Data Corporation
- Gemalto
- Fiserv, Inc.
- Micro Focus
- Symantec Corporation
- Thales e-Security, Inc.
- Visa Inc.
- Wex Inc.
- Worldpay Group PLC
- CipherCloud
- Liaison Technologies, Inc.
- Protegrity USA, Inc.
- TokenEx
- Bluefin
- Mastercard Incorporated
- Ingenico
- Discover Financial Services
