Northbrook, IL 60062 -- (SBWIRE) -- 09/24/2023 -- The global Tokenization Market size to grow from USD 2.3 billion in 2021 to USD 5.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period, according to research report by MarketsandMarkets™.

The Tokenization Market is fuelled by growing need to ensure continuous customer experience and maintain fraud prevention levels due to increasing financial frauds. The increase in online shopping across the globe has led to an increase in fraudulent activities, such as identity theft frauds, merchant and triangulation frauds, affiliate and clean frauds, phishing, pagejacking, and counter attacks. Tokenization helps protect businesses from the negative financial impact of data thefts. Even in case of breaches, with tokenization, valuable personal data is difficult to steal. Hence, tokenization can be helpful in ensuring the continuity of customer experience and maintaining fraud prevention levels.

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By Organization Size, Large Enterprises to hold the larger market size during the forecast period

The Large Enterprises segment of the Tokenization Market is projected to hold the largest market size in 2021. Large Enterprises are the early adopters of tokenization, as they use a huge amount of confidential data of consumers and have many business applications susceptible to cyber-attacks. Due to their large size, these enterprises with different types of IT infrastructure face the difficult task of effectively managing the security for several applications across the enterprise. These organizations prefer to outsource tokenization services to lower their burden of PCI DSS compliance management.

By Vertical, the Retail & eCommerce subsegment to grow at the highest CAGR during the forecast period

Among the Verticals, the Retail & eCommerce sub-segment is expected to grow at the highest CAGR during the forecast period. Retail organizations need to ensure a pleasant check-out experience for their customers. Retail merchants regularly face challenges in managing consumers' sensitive data related to payment cards as well as complying with regulations. Tokenization solutions address these challenges by replacing the sensitive data with tokens and protecting critical information from traversing through vulnerable networks.

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Market Players

Major vendors in the Tokenization Market include Fiserv (US), Visa (US), Mastercard (US), Micro Focus (UK), American Express (US), Thales (France), Lookout (US), Futurex (US), CardConnect (US), and FIS (US).

Regional Analysis For Tokenization Market:

The Asia Pacific Tokenization market is expected to grow at the highest CAGR from 2021 to 2026 due to rapid increase in digital payments and e-commerce transactions. The adoption of mobile banking and financial technology (FinTech) services has surged in the Asia Pacific region. Tokenization plays a crucial role in securing mobile payments and ensuring the safety of financial transactions. With a booming e-commerce sector, it is essential for Tokenization to secure online transactions, protect customer data, and prevent fraud in e-commerce platforms. Furthermore, governments and regulatory bodies in the Asia Pacific have introduced stringent data protection and privacy regulations. Compliance with these regulations often requires the use of tokenization to safeguard sensitive customer data.

Japan:

The growth of the tokenization market in Japan is driven by a combination of regulatory pressures, increased digitalization, a growing e-commerce ecosystem, and a strong focus on data security and compliance. Additionally, Japan's interest in emerging technologies, such as blockchain, has led to experimentation with blockchain-based tokenization methods. This demonstrates a commitment to staying at the forefront of technological advancements in the data security and payment processing sectors.

ANZ region:

The rapid digital transformation and the flourishing e-commerce sector in ANZ drive the demand for secure online transactions, where tokenization is pivotal. Furthermore, the financial services industry in ANZ is increasingly turning to tokenization to enhance payment security and adhere to stringent compliance standards. Additionally, the growing concerns about cybersecurity threats underscore the need for robust data protection measures, further solidifying tokenization's role as a cornerstone of data security strategies in the ANZ region.

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