Tokenization Market Expansion Continues, with Forecast Valuation of $10.46 Billion by 2029

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Tokenization Market Size Growth Forecast: What to Expect by 2025?
In recent times, the tokenization market has experienced remarkable expansion. The market value is projected to increase from $3.38 billion in 2024 to $4.1 billion in 2025, witnessing a compound annual growth rate (CAGR) of 21.4%. Several factors have contributed to this surge during the historic period; these include the rise in mobile payments, the broadening scope of e-commerce, a significant number of data breaches, the acceleration of digital transformation, efforts to prevent fraud, and growing concerns over consumer privacy.

How Will the Tokenization Market Size Evolve and Grow by 2029?
The market for tokenization is predicted to undergo remarkable expansion in the upcoming years, with its value anticipated to rise to $10.46 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 26.4%. Factors contributing to this growth during the projection period include the popularity of cross-border payments, an increase in mobile and contactless payments, the importance of healthcare data security, supply chain safety, and the rise of decentralized finance. Key trends that can be seen in the prediction period are the integration of blockchain, the tokenization of tangible assets, the emergence of non-fungible tokens(NFTs), the incorporation of AI and machine learning, and the provision of tokenization as a service (TaaS).

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What Drivers Are Propelling the Growth of Tokenization Market Forward?
The anticipated rise in digital and contactless transactions is predicted to fuel the tokenization market's expansion in the future. Tokenization safeguards sensitive information by substituting it with an insignificantly valued duplicate that mirrors its original format and length. The deployment of card tokenization for payments is considered more fail-safe compared to encryption, as tokenization eliminates the need for cryptographic keys, leaving behind a smart map that remains impervious to cracking during a potential security breach. The escalating use of digital transactions intensifies the need for payment security, propelling the tokenization market forward. For example, Clearly Payments Inc., a Canadian payment processing firm, stated in September 2024 that the United Kingdom witnessed a considerable surge in its transactions in 2023, totaling 18.3 billion; a trend highly credited to the prevalent use of contactless cards and mobile payments. Concurrently, Australia noticed consistent transaction growth from 2.5 billion to 5.5 billion, highlighting the nation's solid digital payment infrastructure. Consequently, the ongoing upswing in digital transitions and payments is likely to stimulate the tokenization market.

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What Are the Key Trends Driving Tokenization Market Growth?
Key players in the tokenization market are actively participating in strategic partnerships, instrumental for their survival in the tokenization services sector. Such alliances foster innovation, broaden competencies, and generate synergies in the market by harnessing diverse skills, resources, and technologies. For example, in August 2022, US data privacy vault company, Skyflow, has deepened its cooperation with US credit card firm Visa Inc, aiming to solidify network tokenization as the secure payment standard. This partnership simplifies the application of network tokenization, promotes security and simplicity, and aligns with Skyflow's pledge to strengthen the total security of the payment ecosystem. By utilizing Token ID, a solution provided by Visa, Skyflow expedites the adoption of network tokenization for merchants, payment facilitators, and gateways. This, in turn, offers benefits such as reduced fraud, improved user experience, higher approval rates, and less transaction costs.

What Are the Key Segments in the Tokenization Market?
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

Subsegments:
1) By Solutions: Tokenization Software, Payment Tokenization Solutions, Data Tokenization Solutions, Cloud-based Tokenization Solutions
2) By Services: Consulting Services, Integration Services, Managed Services, Support And Maintenance Services

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Who Are the Key Players Shaping the Tokenization Market's Competitive Landscape?
Major companies operating in the tokenization market include American Express Company, Visa Inc., Mastercard Inc., Fiserv Inc., 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

What Geographic Markets Are Powering Growth in the Tokenization Market?
North America was the largest region in the tokenization market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tokenization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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