A market study ”Global Tokenization Market” examines the performance of the Global Tokenization Market 2019. It encloses an in-depth Research of the Tokenization Market state and the competitive landscape globally. This report analyzes the potential of Tokenization Market in the present and the future prospects from various angles in detail.
Global Tokenization Market Overview:
The Global Tokenization Market is Expected to Exceed US$ 2259 Million by the end of 2023.
The significant factors driving the growth of the Global Tokenization Market are safeguarded customer data, use of digital payments, reduced risk, and cautiousness of banks toward frauds. However, tokenization systems require large data space, which restrains the growth of the market. Moreover, use of big data to store unique transaction IDs globally is expected to provide new opportunities in the market.
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According to the market report analysis, the Tokenization refers to data security systems, which generate a unique ID to avoid unauthorized access to sensitive information. Moreover, increase in banking applications and rise in credit card holders boost the tokenization market. In banking sector, huge revenue is invested on stakes and the data is crucial, thus tokenization is required from security perspective. In the recent years, technology companies have incorporated tokenization system to safeguard the customer’s information.
The Global Tokenization Market is segmented on the basis of Component, Application Area, Tokenization Techniques, Deployment Modes, Organization Size and Region. Based on the Component, the Global Tokenization Market is sub-segmented into Solution and Services. On the basis of Application Area, the Global Tokenization Market is classified into Payment Security, User Authentication and Compliance Management. Based on the Tokenization Techniques, the Global Tokenization Market is divided into API-based and Gateway-based. On the basis of Deployment Modes, the Global Tokenization Market is sub-segmented into On-premises and Cloud. Based on the Organization Size, the Global Tokenization Market is classified into SMEs and Large Enterprises.
In terms of the regional analysis, North America, followed by Europe, is expected to become the largest revenue-generating region for tokenization solution and service vendors in 2018. The increasing payment security concerns and strict regulatory compliances are some of the key factors expected to fuel the growth of the Tokenization Market in North America. The APAC Tokenization Market is gaining traction, as the tokenization solution provides proactive security measures for preventing data breaches. SMEs as well as large organizations in the APAC region have become more aware of the tokenization process and its benefits and started adopting them to combat cyber frauds and data thefts.
Top Leading Key Manufacturers are: HPE, Symantec, Gemalto, Fiserv, First Data Corporation, Cardconnect, Thales E-Security, 3Delta Systems, Ciphercloud, Cybersource, Liaison Technologies, Protegrity, Futurex, Paymetric, Tokenexand others. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Region segment: This report is segmented into several key regions, with sales, revenue, market share (%) and growth Rate (%) of Tokenization in these regions, from 2013 to 2023 (forecast), covering: North America, Europe, Asia Pacific, Middle East & Africa and South America
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With the presence of a large pool of participants, the Global Tokenization Market is displaying a highly competitive business landscape, finds a new research report by Business Industry Reports (BIR). HPE, Symantec, Gemalto, Fiserv, First Data Corporation, Cardconnect, Thales E-Security, 3Delta Systems, Ciphercloud, Cybersource, etc. are some of the key vendors of Tokenization across the world. These players across Tokenization Market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products.
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