Global Tokenization Market Key Players, Covid-19 Impact Analysis and Industry Size to Grow USD 5.6 billion by 2026

The Global Tokenization Market size to grow from USD 2.3 billion in 2021 to USD 5.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period. Tokenization reducing the risk from data breaches is a major driver for the Tokenization Market. Tokenization helps protect businesses from the negative financial impacts of data theft. Tokenization also minimizes the impact of security breaches for merchants. Since merchants are storing tokens instead of credit card numbers in their systems, hackers will acquire tokens that are of no use to them. Tokenization helps minimize the expensive breaches that many retailers and banks have experienced huge losses as a result of data theft.

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“By Component, the services segment to grow at the higher CAGR during the forecast period”
By Component, the services segment is expected to grow at a higher growth rate during the forecast period. The high growth of service segment can be attributed to the advancements in technology leading to demand from organizations to help implement the solutions with ease to their existing infrastructure. Tokenization services comprise the support offered by vendors to assist their customers in the efficient use of tokenization solutions and their maintenance. Tokenization services have been segmented into professional services and managed services.

“By Services, the Professional services segment to hold the larger market size during the forecast period.”
The Professional services segment is expected to hold the larger market size. Professional services are those services that are offered through professionals, specialists, or experts for supporting business operations. They include consulting, integration, training and education, and support and maintenance services.

“By Tokenization Technique, API-Based segment to grow at the higher CAGR during the forecast period”
The API-Based segment is projected to grow at a higher CAGR during the forecast period. API-Based tokenization converts the Primary Account Number (PAN) into tokens that cannot be reverse-engineered to bring back the original PAN information. It helps customers to reduce the risk of storing critical information on their local servers.

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The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 20%, Tier 2 – 25%, and Tier 3 – 55%
• By Designation: C-Level Executives – 40%, Directors– 33%, Managers–27%
• By Region: North America – 32%, Europe – 38%, Asia Pacific – 18%, and Rest of the World* – 12%
Note: Tier 1 companies have revenues over USD 1 billion; tier 2 companies have revenues ranging from USD 500 million to USD 1 billion; and tier 3 companies have revenues ranging from USD 100 million to USD 500 million
*Rest of the World includes Middle East & Africa and Latin America

The following key Tokenization vendors are profiled in the report:
• Fiserv (US)
• Visa (US)
• Mastercard (US)
• Micro Focus (UK)
• American Express (US)
• Thales (France)
• Lookout (US)
• Futurex (US)
• CardConnect (US)
• FIS (US)
• HelpSystems (US)
• MeaWallet (Norway)
• TokenEx (US)
• Entrust (US)
• Verifone (US)
• Bluefin (US)
• WEX (US)
• AsiaPay (Hong Kong)
• Shift4 (US)
• Worldline (France)
• Paragon Payment Solutions (US)
• Marqueta (US)
• Payrix (US)
• HST (Brazil)
• Sequent (US)
• Sygnum (Switzerland)
• SecurionPay (Switzerland)
• Carta Worldwide (Canada)
• Encryption Consulting (US)
• Randtronics (Australia)

Research Coverage:
The Tokenization Market is segmented by Component, Services, Application Area, Tokenization Technique, Deployment Mode, Organization Size, Verticals, and Region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; solutions and services; key strategies; new product launches and product enhancements; partnerships, acquisitions, and collaborations; agreements and business expansions; and competitive landscape associated within the Tokenization Market.

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Reasons to Buy the Report:
The report would help the market leaders and new entrants in the following ways:
• It comprehensively segments the Tokenization Market and provides the closest approximations of the revenue numbers for the overall market and its sub segments across different regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new product launch, product enhancement, partnerships, collaborations, and acquisitions.

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This release was published on openPR.