Market Research Future published a research report on “Global Tokenization Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Pune, India -- (SBWIRE) -- 11/24/2017 -- Market Synopsis of Tokenization Market
Tokenization is the process of creating a "token" that process the sensitive data. A Tokenization is a solution that provides real-time payment of data security for all the transactions via smartphones, tablets, laptops, and other devices. The Tokenization is new technology that is driven by the tokenization system as the security and risk reduction benefits sensitive data that is replaced by the token which is isolated and segmented data stored in the database.
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The study indicates that the Tokenization market that has cloud segment which is expected to be the fastest-growing deployment and 24/7 services and enhanced speed management capabilities. It benefits the organizations by availing the data security on the customer's demand. It also helps the organizations to comply with DSS regulatory compliances. The growing technology trend of Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) has introduced many security threats associated with payment and healthcare data theft. Whereas, due to the rise in sophisticated cyber threats of critical information, the market is expected to gain traction in the next 5 years.
The global The Tokenization market is expected to grow at USD ~$2341.38 Billion by 2023, at ~24.14% of CAGR between 2017 and 2023.
The prominent players in the Tokenization Market are –Symantec Corporation (US), Gemalto NV (Netherlands), CardConnect Corp. (US), Thales e-Security, Inc. (US), CyberSource Corporation (US), 3Delta Systems, Inc.(US), CipherCloud (US), Hewlett-Packard Enterprises (US), Liaison Technologies, Inc.(US), Futurex (US), Fiserv, Inc. (US), Paymetric, Inc. (US), First Data Corporation (US), and TokenEx LLC (US), Protegrity USA, Inc. (US) among others
The global tokenization market has been segmented on the basis of component, application area, deployment, organization Size, end-user and region.
Tokenization Market by Component:
- Professional services
- Integration Services
- Managed services
- Support and Maintenance
- Training and Education
Tokenization Market by Application Area:
- Payment Security
- Compliance Management
- User Authentication
Tokenization Market by Deployment:
- Indoor Positioning System
- Outdoor Positioning System
Tokenization Market by Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Tokenization Market by End-User:
- Telecom and IT
- Government & Defense
Tokenization Market by Region:
- North America
- Asia Pacific (APAC)
- Rest of the World (ROW)
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The regional analysis of Tokenization market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. Growing adaptation of new technology in payment security industry is expected to drive the Tokenization market in North America and has become the leading in countries in the world as payment security reduces the security risk posed by payment data in the systems. It accepts payment securely from online applications. The study reveals that Europe region is also showing a positive growth in the Tokenization market due to the increasing penetration of the Internet and growing payment frauds have led to the growing payment security needs. Whereas, Asia-Pacific countries like China, Japan and India have a fair share in the Tokenization market as the companies have found tokenization to be cheaper, easier to use and more secure than end-to-end encryption due to which it is projected to grow at the highest pace during the forecast period.
- System Security
- Software investors
- Government agencies
- Tokenization vendors
- Payment solution providers
- Software vendors
- Value-Added Resellers
- Information Technology security agencies
- Managed Security Service Providers
- Tokenization Service Provider
- Tokenization Agencies
- Technology Integrators
- Research/Consultancy firms
- System integrators
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