Tokenization Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 - 2026

Albany, NY -- (SBWire) -- 01/10/2019 --Tokenization is a data security system which converts sensitive data into a unique ID, referred to as token, to avoid unauthorized access to sensitive information. This process then preserves all the information in a format that allows the information's security not to be compromised. Tokenization is beneficial for enterprises as it makes it difficult for individuals to hack the system or breach security, to gain access to user data.

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The advantages of tokenization include the ability to secure sensitive data, reduced data loss, reduced payment card industry data security standard (PCI-DSS) compliance scope, compatibility with other technologies, and overall internal protection. The market for tokenization is forecasted to grow to US$ 6,901.1 Mn by 2026, recording a CAGR of 18.6%.

The tokenization market has been segmented based on components, solution, enterprise size, and end-use. Based on components, the market has been segmented into hardware, software (on- premise, cloud) and services (managed/outsourced services, professional services). Based on solution, the market is segmented into payment security, customer data management, compliance & policy management, and encryption.

On the basis of enterprise size, the market has been divided as small & medium enterprise and large enterprise. Based on end-use, the market has been bifurcated into BFSI, retail & consumer goods, government, education, military & defense, automotive, IT & telecom, energy & utilities, manufacturing, and others (hospitality & transportation). The report provides in-depth segment analysis of the global tokenization market, thereby providing valuable insights at the macro as well as micro levels.

Attracted by this fast technological advancements and rising spending on cybersecurity, many players are driven to develop comprehensive security suites comprised of hardware (HSM), and software. Some of the key players profiled in the tokenization market report include Gemalto NV, Futurex, Thales e-Security, Inc., CipherCloud, Inc., Symantec Corporation, Hewlett Packard Enterprise Development L.P., Protegrity USA, Inc., TokenEx, First Data Corporation, and CyberSource Corporation.

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