Tokenization Global Market Report 2024 - By Size, Share, Trends, Industry Growth, Forecast To 2033

"The new report published by The Business Research Company, titled ""Tokenization Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the tokenization market size has grown exponentially in recent years. It will grow from $2.8 billion in 2023 to $3.45 billion in 2024 at a compound annual growth rate (CAGR) of 23.2%. The tokenization market size is expected to see exponential growth in the next few years. It will grow to $8.32 billion in 2028 at a compound annual growth rate (CAGR) of 24.6%.

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The Surge Of Digital And Contactless Payments Fuels Tokenization Market Growth
The increasing use of digital and contactless payments is expected to propel the growth of the tokenization market during 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. For instance, in February 2023, according to Indian government data, digital transactions grew by close to 90% from 232,000 to over 430,000 in the three years between FY19 and FY21. Hence, the growing digital transitions and payments are expected to drive the tokenization market.

Companies Forge Strategic Collaborations For Enhanced Security And Innovation
Major companies operating in the tokenization market are undergoing strategic collaborations to sustain in tokenization services market. Strategic collaborations drive innovation, expand capabilities, and create synergies in the tokenization market by leveraging diverse expertise, resources, and technologies. For instance, in August 2022, Skyflow, a US-based data privacy vault company, Deepens Collaboration with Visa Inc., a US-based Credit card service corporation, to Make Network Tokenization the Secure Payments Standard. The collaboration streamlines the implementation of network tokenization, ensuring simplicity and security, and aligns with Skyflow's commitment to enhancing the overall security of the payment's ecosystem. Utilizing Token ID, a Visa Solution, Skyflow facilitates network tokenization adoption for merchants, payment facilitators, and gateways, offering benefits such as fraud reduction, enhanced user experience, higher approval rates, and reduced transaction costs.

The tokenization market covered in this report 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

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Major companies operating in the tokenization market report are American Express Company, Visa Inc., Mastercard Inc., Fiserv Inc., Symantec Corporation, Entrust Corporation, Thales Defense & Security Inc., Sygnum Bank AG, Bluefin Payment Systems LLC, AsiaPay Limited, Futurex Industries Pvt Ltd., TokenEx Inc., Unicsoft Inc., TokenSoft Inc., MeaWallet AS, Inveniam Capital Partners Inc., Smart Token Labs, Apex India Pvt Ltd., Mt Pelerin AG, Blockchain App Factory, Token Minds Co, Boosty Labs, K20 Fund LLC, Securitize Inc., DigiShares ApS, Stably Inc., CipherCloud Inc., Hst Global Services Private Limited, Intelliblock Technologies Private Limited, Structure

Contents of the report:
1. Executive Summary
2. Tokenization Market Report Structure
3. Tokenization Market Trends And Strategies
4. Tokenization Market - Macro Economic Scenario
5. Tokenization Market Size And Growth
…..
27. Tokenization Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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