Global Tokenization Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2022-2028

Tokenization Market Report 2028

The global Tokenization market is projected to reach US$ 2709.9 million by 2028 from an estimated US$ 1301.6 million in 2022, at a CAGR of 13.0% during 2023 and 2028. Key drivers of the market include the increasing need to stay compliant with regulations, ensuring seamless customer experience, and rising concerns regarding cyberattacks, frauds, and data breaches. Tokenization is the process of turning a meaningful piece of data into a random string of characters called tokens. The data can be an account number or a payment card number etc. Tokens are used as a reference for storing the original sensitive data but cannot be used to guess the sensitive information as it is not based on a mathematical process.

As online payments increase and more people shift towards contactless payment, financial crimes are rising leading to an increase in demand for the tokenization market across the globe. Moreover, Covid-19 has accelerated the growth of the market as more people are now aligning themselves with cloud-based tokenization solutions and services in order to protect their sensitive data against fraud and data breaches.

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Tokenization Market Trends
Rising concerns of cyberattacks and financial frauds are fuelling the market growth

People and businesses are now moving towards contactless payments. As more payments are made online, there is a growing risk of fraud and cyberattacks which compromise the status of people's personal information in the virtual world. This has led to an increase in demand for cloud-based tokenization solutions and services for data security leading to an increase in the growth of the tokenization market globally.

The tokenization market will further fuel the growth of the market in the coming years

The tokenization market size is going to grow further as the demand for the asset tokenization market rises. Asset tokenization is the process of issuing a token within a blockchain. This token includes anything which has an exchange value such as gold, oil, cattle, etc. Blockchain technology provides immense benefits with respect to fraud prevention and cost-efficiency ratio. Though the asset tokenization market size is still in the early stages, there are still lucrative opportunities for the growth of the tokenization market during the forecast period.

Real estate investments hold potential for providing lucrative opportunities for the growth of the market

Tokenization and the token market provide exciting possibilities for the growth of real estate investments. Tokenization with respect to real estate involves fractional ownership interest of real estate assets with a blockchain technology-based token. Although the real estate sector is in its early stages still it will create lucrative opportunities for the growth of the tokenization market during the forecast period.

The presence of key tokenization companies will further propel the growth of the market

The presence of various tokenization companies with asset tokenization platforms will further propel the growth of the tokenization market during the forecast period. Companies such as Hp Enterprises, CipherCloud, FutureX, Visa, etc are the key market players in the tokenization sector. Microsoft is also offering blockchain as a service through the tokenization framework for entry to blockchain technology for many enterprises. The presence of key players in the sector will increase the demand for the tokenization market across the globe.

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By Company
Thales
American Express
Hewlett-Packard Enterprises
Lookout (CipherCloud)
Futurex
Protegrity
TokenEx
Fiserv
Global Payments
Visa (CyberSource)
Others

Segment by Type
Service Tokenization
Software Tokenization

Segment by Application
BFSI
IT, Telecom and Media
Healthcare and Pharma
Government and Defense
Others

By Region
North America (United States, Canada)
Europe (Germany, France, UK, Italy, Russia) Rest of Europe
Nordic Countries
Asia-Pacific (China, Japan, South Korea)
Southeast Asia (India, Australia)
Rest of Asia
Latin America (Mexico, Brazil)
Rest of Latin America
Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of MEA)

SIMILAR REPORTS

https://reports.valuates.com/market-reports/QYRE-Auto-18Y2353/china-asset-tokenization-software

https://reports.valuates.com/market-reports/QYRE-Auto-18C7334/global-asset-tokenization-platforms

https://reports.valuates.com/market-reports/QYRE-Auto-16R1135/global-tokenized-securities

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This release was published on openPR.