Press release
Tokenization Market Report: Size, Share, Price, Trends, Growth And Detailed Analysis, Forecast To 2032
Tokenization Market
The Business Research Company's Tokenization Global Market Report 2023 identifies increasing use of digital and contactless payments as the major driver for the Tokenization market's growth in the forecast period. Tokenization protects sensitive data by replacing it with a non-significant value having the same format and length as the original one. The use of card tokenization for payment option is more secure than encryption since, with tokenization, there is no cryptographic key, only an intelligent map that cannot be cracked in the event of an attack. The increasing use of digital payments creates a high demand for payment security, thus driving the tokenization market
The global tokenization market size will grow from $2.33 billion in 2022 to $2.87 billion in 2023 at a compound annual growth rate (CAGR) of 23.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The tokenization market size is expected to grow to $6.89 billion in 2027 at a CAGR of 24.4%.
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Major competitors in the Tokenization market are Fiserv, Inc., Visa, American Express Company, CipherCloud, Inc., TokenEx, Futurex, Symantec, AsiaPay Limited, MeaWallet, Thales Trusted Cyber Technologies, Mastercard Inc., Entrust Corporation, Bluefin Payment Systems, Sygnum Bank AG and HST
A key trend in the Tokenization market includes wearable devices. Companies are focusing on enabling merchant system interaction with consumer wearables by utilizing the power of tokenization
Read More On The Global Tokenization Market Report Here:
https://www.thebusinessresearchcompany.com/report/tokenization-global-market-report
The Tokenization market is segmented -
1) By Component: Solutions, Services
2) By Services: Professional Services, Managed Services
3) By Application Area: Payment Security, User Authentication, Compliance Management
4) By Vertical: Banking, Financial Services, and Insurance, Healthcare, IT And ITeS, Government, Retail And eCommerce, Energy And Utilities, Other Verticals
5) By Organization Size: Large Enterprises, SMEs
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Tokenization market.
The Business Research Company's "Global Tokenization Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Tokenization Market Include:
1. Executive Summary
2. Tokenization Market Characteristics
3. Tokenization Market Trends And Strategies
4. Tokenization Market - Macro Economic Scenario
5. Tokenization Market Size And Growth
.......
26. Africa Tokenization Market
27. Tokenization Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Tokenization Market
29. Tokenization Market Future Outlook and Potential Analysis
30. Appendix
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