The study reveals that Tokenization is trending in North America region as it provides data security support, without changing the required applications or databases. It provides the access controls to ensure the authenticity of the users and can view protected tokens and data. The increased payment security challenges, along with meeting strict compliance regulation is driving the organizations in North America to adopt tokenization solutions.
Furthermore, rapid economic growth in the developing countries in Asia-Pacific, along with improving regulatory reforms and economic stability is driving the growth of the Tokenization Market in this region. In Latin America, SMEs as well as enterprises belonging to a range of verticals, such as Banking, Financial Services, and Insurance (BFSI), government, retail, healthcare, and IT and telecom, are expected to increase investments in tokenization solutions.
The Tokenization market is growing rapidly over 24.14% of CAGR and is expected to reach at USD ~$2341.38 billion by the end of forecast period.
Tokenization Market Players:
- CyberSource Corporation (US)
- Symantec Corporation (US)
- Gemalto NV (Netherlands)
- CardConnect Corp. (US)
- Thales e-Security, Inc. (US)
- 3Delta Systems, Inc.(US)
- CipherCloud (US)
- Hewlett-Packard Enterprises (US)
- Liaison Technologies, Inc.(US)
- Protegrity USA, Inc. (US)
- Futurex (US), Fiserv, Inc. (US)
- Paymetric, Inc. (US)
- First Data Corporation (US)
- TokenEx LLC (US)
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Tokenization Market Segmentation
The Tokenization Market has been segmented on the basis of component, application area, deployment, organization Size, end-user and region. Looking through the end-user segment it has been observed that BFSI sector has shown a tremendous usage of Tokenization market and expected to holds the largest market share. The study indicates that the other sectors like government and defense sector is using optical sensors system and showing second largest position in this market.
Market Research Analysis:
On geographic basis, Tokenization market is studied in different regions as North Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading in the Tokenization market and is expected to grow with a high rate as well as expected to hold the largest market share in the Tokenization market, the region also has a major focus onto the commercials, based on the low cost which tends to be the main concern. Tokenization market has the largest market size in the government and defense sector as well due to safety and security purposes as it provides token-based authentication to the users. The study shows that Europe region is also showing a positive curve in growth graph in the Tokenization market. The technological advancements in Tokenization is widely used in healthcare and BFSI. The developing economies in Asia-pacific regions like China, Japan, India and others are showing high adoption in the Tokenization market.
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– System Security
– Software investors
– Government agencies
– Tokenization vendors
– Payment solution providers
– Software vendors
– Value-Added Resellers
– Information Technology security agencies
– Managed Security Service Providers
– Tokenization Service Provider
– Tokenization Agencies
– Technology Integrators
– Research/Consultancy firms
– System integrators
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