Tokenization Market Size, Share - Industry Growth 2022
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The tokenization market size to grow from USD 823.0 Million in 2017 to USD 2,258.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 22.4%. The constant pressure of managing sensitive data of consumers, along with the need to manage stringent compliances, has led enterprises of all sizes to adopt tokenization solutions for critical information protection. Moreover, cloud-based deployment is gaining high traction in the market, as it requires less capital investment, helps decrease the operational and maintenance costs, and reduces the management’s efforts. Cloud tokenization solutions are available according to customer’s demand, wherein a customer can start or stop any service, at will. Tokenization solution replaces the payment card data with a unique token and helps organizations comply with Payment Card Industry Data Security Standard (PCI DSS) and Health Insurance Portability and Accountability Act (HIPAA) compliance.
Tokenization solution can be used for payment security, user authentication, and compliance management. The payment security application area is expected to dominate the tokenization market and contribute the largest market share during the forecast period. It is expected to play a key role in changing the market landscape and grow at the highest rate during the forecast period, as the need for payment security is increased due to growing eCommerce sector and digitization in the healthcare industry.
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Due to the presence of a large number of tokenization vendors, North America is expected to have the largest market size in the tokenization market; whereas, Asia-Pacific (APAC)is expected to be the fastest-growing region during the forecast period. Factors, such as increasing Internet usage, compliance regulation, and increased need for payment security in growing e Commerce are major factors for the adoption of tokenization solutions. Furthermore, the market in developing regions, such as the Middle East and Africa (MEA) and Latin America is expected to grow due to the increasing usage of mobility, cloud computing, expanding retail and banking sector, and government regulatory compliances.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profile of primary participants is as follows:
• By Company: Tier 1 – 38 %, Tier 2 – 42%, and Tier 3 – 20%
• By Designation: C level – 55% and Director level – 45%
• By Region: North America – 52%, Europe – 26%, APAC – 16%, and RoW – 6%
The research covers the tokenization market on the basis of different segments such as solutions, services, application areas, deployment modes, organization sizes, and verticals in the geographies of North America, Europe, APAC, MEA, and Latin America. Aditionally, it includes the factors that are driving the tokenization market along with the growth opportunities in this market. It also includes the restraining factors and challenges in the growth of tokenization market. Moreover, the report includes the detailed company profiles of the key players offering tokenization solution and services.
Key Points From Table Of Content:
13 Company Profiles
13.1 Hewlwtt Packard Enterprise
13.1.2 Company Scorecard
13.1.3 Product Offering
13.1.4 Business Strategy
13.1.5 Recent Developments
13.2 Symantec Corporation
13.2.2 Company Scorecard
13.2.3 Product Offering
13.2.4 Business Strategy
13.2.5 Recent Developments
13.3 Gemalto NV
13.3.2 Company Scorecard
13.3.3 Product Offering
13.3.4 Business Strategy
13.3.5 Recent Developments
13.4 Fiserv, Inc.
13.5 First Data Corporation
13.6 Cardconnect Corp.
13.7 Thales E-Security
13.8 3Delta Systems, Inc.
13.11 Liaison Technologies, Inc.
13.12 Protegrity USA, Inc.
13.14 Paymetric, Inc.
13.15 Tokenex LLC
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