DUBLIN--(BUSINESS WIRE)--The "Global Tokenization Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.
The overall tokenization market worldwide was valued at US$ 880.9 Mn in 2018 and is set to grow with a CAGR of 18.9% during the forecast period.
The robust need for protecting crucial data information from disclosure is the major growth driving factor for the tokenization market. Replacing data with unique identification symbols that hold all the necessary information for the data is called tokenization. To protect sensitive data information from fraud, the tokenization system has been used nowadays.
Tokenization has various benefits such as gives protection from hackers and thieves, reduced PCI scope, provide online protection, and internal protection among others. The increase of data breach and cyber-attacks worldwide are the other major drivers for the increased demand for tokenization. On account of the wide application of tokenization in the financial sector, the market is showing huge demand. Therefore, we expect that the tokenization market will show robust growth throughout the forecast period.
Based on the application, the tokenization market is led by BFSI (banking, financial services, and insurance) segment in 2018. The BFSI segment has around 25% of the revenue share in the same year. While payment at various shopping stores, tokenization exempts merchants to keep client's data in their systems. Growing cashless transactions worldwide is the major growth factor for the segment.
According to the World Payments Report (WPR), the cashless transaction volumes are valued at US$ 482.6 Bn in 2016 and growing with around 10% annually. Further, for the security of the client's privileged information banks, financial services, and insurance companies are adopting tokenization. As a result, we expect that the BFSI segment will show substantial growth during the forecast period.
Based on geography, North America was the largest region in 2018 for the tokenization market backed by Europe and the Asia Pacific. North America has over 35% value contribution in the same year. North America has the highest share owing to the early adoption and penetration of the tokenization system.
In North America tokenization is widely being used in various industries such as BFSI, retail, defense, healthcare, and others. Strict government regulatory compliance and growth in payment security concerns in the region are the other major growth factors. Therefore, we expect that North America will show stagnant growth throughout the forecast period from 2019-2027.
Key Topics Covered:
2 Executive Summary
2.1 Market Snapshot: Global Tokenization Market
2.1.1 Global Tokenization Market, by Product, 2018 (US$ Mn)
2.1.2 Global Tokenization Market, by Application, 2018 (US$ Mn)
2.1.3 Global Tokenization Market, by Geography, 2018 (US$ Mn)
3 Market Dynamics
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.2 Market Restraint
3.3 Attractive Investment Proposition, by Geography, 2018
3.4 Market Positioning of Key Tokenization Vendors, 2018
4 Global Tokenization Market, by Product
4.1.1 Global Tokenization Market Value Share, by Product, 2018 & 2027 (Value, %)
5 Global Tokenization Market, by Application
5.1.1 Global Tokenization Market Value Share, by Application, 2018 & 2027 (Value, %)
5.3 Consumer Goods & Retail
5.7 IT & Telecom
5.8 Energy & Utilities
5.10 Others (Hospitality, Transportation, etc.)
6 Global Tokenization Market, by Solution
6.1.1 Global Tokenization Market Value Share, by Application, 2018 & 2027 (Value, %)
6.2 Payment Security
6.2.1 Global Tokenization Market Value from Payment Security, 2017 - 2027 (US$ Mn)
6.3 Consumer Data & Management
6.3.1 Global Tokenization Market Value from Consumer Data & Management, 2017 - 2027 (US$ Mn)
6.4.1 Global Tokenization Market Value from Compliance, 2017 - 2027 (US$ Mn)
6.5.1 Global Tokenization Market Value from Encryption, 2017 - 2027 (US$ Mn)
7 North America Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
8 Europe Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
9 Asia Pacific Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
10 Rest of the World (RoW) Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
11 Company Profiles
11.1 First Data Corporation
11.3 Fiserv, Inc.
11.4 Micro Focus
11.5 Symantec Corporation
11.6 Thales e-Security, Inc.
11.7 Visa Inc.
11.8 Wex Inc.
11.9 Worldpay Group PLC
11.11 Liaison Technologies, Inc.
11.12 Protegrity USA, Inc.
11.15 Mastercard Incorporated
11.17 Discover Financial Services
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