Global Tokenization Market was valued at USD 1.61 billion in 2021 and is expected to reach USD 5.25 billion by the year 2028, at a CAGR of 18.4%.
Tokenization is the process of transforming sensitive data into non-sensitive tokens that can be utilized in a database or internal system without being made public. Tokenization protects sensitive data by replacing it with an irrelevant value of the same length and format as the original. The tokens are subsequently delivered to an organization's internal systems to be used, while the original data is kept in a token vault. Tokenized data, unlike encrypted data, is impregnable and irrevocable. Tokens cannot be returned to their original form since the token and its original number are unrelated mathematically.
Market Dynamics and Factors:
Tokenization shields businesses from the financial ramifications of data theft. Even if there is a breach, no user personal data may be accessed. By eliminating credit card details from POS devices and internal systems, credit card tokenization helps online companies improve data security from the point of data capture to storage. Data tokenization secures credit card and bank account information in a virtual vault, allowing organizations to communicate sensitive information over wireless networks safely. Tokenization is only effective if a payment gateway is used to securely store sensitive data.
Major Key Players for Tokenization Market:
American Express Company,AsiaPay Limited,Bluefin Payment Systems LLC,Card link,Fiserv Inc.,Futurex LP,HelpSystems LLC,HST Campinas SP,IntegraPay,Marqeta Inc.,Mastercard Inc.,MeaWallet AS,Micro Focus International plc,Paragon Payment Solutions,Sequent Software Inc.,Shift4 Payments LLC,Sygnum Bank AG,Thales TCT,TokenEx LLC,VeriFone Inc.,Visa Inc. and other major players.
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Tokenization Market Segmentation:
By Type
· Solution
· Services
By Deployment
· On-Premise
· Cloud
By End User
· Retail & E-commerce
· Transportation & Logistics
· BFSI
· IT & Telecommunications
· Others
Geographic Segment Covered in the Report
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Tokenization Market study looks deeply into the worldwide market's competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER's Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
Key Benefits for Industry Participants & Stakeholders:
· Industry drivers, restraints, and opportunities covered in the study
· Neutral perspective on the market performance
· Recent industry trends and developments
· Competitive landscape & strategies of key players
· Potential & niche segments and regions exhibiting promising growth covered
· Historical, current, and projected market size, in terms of value
· In-depth analysis of the Tokenization Market
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