Tokenization Market to Make Great Impact in near Future by 2018-2026

Global tokenization market  was valued US$ 850.34 Mn in 2017 and is expected to reach US$ 3432.54 Mn by 2026, at a CAGR of 19.06% during a forecast   period.
Tokenization is a process of replacing sensitive data with unique identification symbols that retain all the vital information about the data without compromising its security. Tokenization is a solution that provides real-time payment of data security for all the transactions via tablets, smartphones, laptops, and other devices. It doesn’t rely on encryption keys so organizations don’t have to worry about managing such sensitive data.
Rising banking applications and increasing credit card holders are boosting the tokenization market. Tokenization market has experienced considerable growth owing to a large number of financial firms opting for raising security in payment processing systems. Protected customer data, use of digital payments, reduced risk, and carefulness of banks toward frauds are adding fuel to the growth of the market. However, tokenization systems require large data space, the high cost of implementation, and upgrade of hardware required for tokenization is restrains the growth of the market.
The payment security application area is estimated to the largest market share during the forecast period owing to increased complexities in the payment transactions. The challenges of managing the sensitive information of users, payment security has become a key point of concern for organizations.
Cloud deployment is the fastest-growing deployment in the tokenization market. SMEs have implemented the cloud deployment model as it enables them to focus on their core competencies, rather than investing their capital on payment infrastructure.
Growing adaptation of new technology in payment security industry is estimated to drive the tokenization market in North America. So that, North America is leading in countries as payment security reduces the security risk posed by payment data in the systems. The Asia Pacific is projected to witness good growth owing to increasing adoption of such software in India, Japan, Philippines, and Singapore.
Key players in the global tokenization market are Gemalto NV, Futurex, CipherCloud, Inc., Symantec Corporation, Hewlett Packard Enterprise Development L.P., Protegrity USA, Inc., TokenEx, First Data Corporation, Fiserv, Micro Focus, Visa, WEX, Thales e-Security, Inc., Worldpay, CyberSource Corporation, Dell Technologies, Liaison Technologies, Protegrity, Bluefin, Sequent Software, Discover Financial Services, Carta Worldwide, Merchant Link, Ingenico ePayments, Rambus, Mastercard, Verifone, and IP Solution International.
Scope of the Global Tokenization Market
Global Tokenization Market by Component
  Professional services
  Integration Services
  Managed services
  Support and Maintenance
  Training and Education
Global Tokenization Market by Application
  Payment Security Application Area
  Compliance Management
Global Tokenization Market by Tokenization Technique
Global Tokenization Market by Deployment Mode
Global Tokenization Market by Organization Size
  Small and Medium Enterprise
  Large Enterprise
Global Tokenization Market by Vertical
  Retail and Consumer Goods
  Military and Defense
  IT and Telecom
Global Tokenization Market by Geography
  North America
  Middle East & Africa
  South America
Key Players operating in the Global Tokenization Market
  Gemalto NV
  CipherCloud, Inc.
  Symantec Corporation
  Hewlett Packard Enterprise Development L.P.
  Protegrity USA, Inc.
  First Data Corporation
  Micro Focus
  Thales e-Security, Inc.
  CyberSource Corporation
  Dell Technologies
  Liaison Technologies
  Sequent Software
  Discover Financial Services
  Carta Worldwide
  Merchant Link
  Ingenico ePayments
  IP Solution International

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