DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Tokenization Market by Solution, Service, Application Area, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2022" report to their offering.
The tokenization market size is expected 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%. Payment security and compliance management are among the application areas contributing to the growth of the tokenization market.
The payment security application area is projected to contribute the largest market share during the forecast period. Due to increased complexities in the payment transactions across the globe and the challenges of managing the sensitive information of users, payment security has become a major point of concern for organizations.
Cloud deployment is the fastest-growing deployment mode in the tokenization market and is expected to hold the larger market size from 2017 to 2022. SMEs, in particular, have implemented cloud deployment as it enables them to focus on their core competencies, rather than investing their capital on payment infrastructure. Organizations can avoid costs related to hardware, software, storage, and technical staff by using cloud-based solutions. Security of the consumer's sensitive data is the biggest priority as it is the primary target of the attackers. The cloud-based platform offers a unified way in the form of SaaS-based tokenization services to secure the payment data and help organizations comply with PCI DSS and HIPAA, which is beneficial for organizations that have strict budgets for security investments.
North America is expected to have the largest market size in the tokenization market. Factors, such as increasing Internet usage, compliance regulation, and increased need for payment security in growing eCommerce are major factors for the adoption of tokenization solutions.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Tokenization Market Analysis, By Component
7 Tokenization Market Analysis, By Application Area
8 Tokenization Market Analysis, By Deployment Type
9 Tokenization Market Analysis, By Organization Size
10 Tokenization Market Analysis, By Vertical
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
14 Key Innovators
- 3delta Systems, Inc.
- Cardconnect Corp.
- First Data Corporation
- Fiserv, Inc.
- Gemalto NV
- Hewlett Packard Enterprise
- Liaison Technologies, Inc.
- Paymetric, Inc.
- Protegrity Usa, Inc.
- Symantec Corporation
- Thales E-Security, Inc.
- Tokenex, LLC
For more information about this report visit https://www.researchandmarkets.com/research/t34bds/tokenization