Global Tokenization Solution Market is valued at approximately USD 2.03 billion in 2021and is anticipated to grow with a healthy growth rate of more than 24.09% over the forecast period 2022-2029.Tokenization Solution helps to keep sensitive data at a trusted and secured offsite platform. It enhances the level of security and protection for individual information.Companies can protect their client information with extensive standards and regulations. Companies can achieve Payment Card Industry Data Security Standard (PCI DSS) by reducing in-house stored PAN data. Additionally, increased digital handling of sensitive data and secured measures of tokenization has boosted industry growth. Rising digital payments after COVID-19haveplayed a major role in market growth.
There is a huge rise in online payments, total transaction value is anticipated to grow at a rate of 11.79% and have a total value of US$5.99tn in 2023. For Instance, In December 2021, PhonePe an online payment application started with technology of deleting all card-on-file details after anRBI this created a demanding market because of the data security it was offering to industries. Tokenization Solution is used in several industries due to rising digitalized processes nowadays such as finance, banking and information technology, healthcare and the retail sector. These services offer industries with secured exchange and handling of data, avoiding any leaks and cyber attacks. For instance, Radius Financial Group faced illegal accessing to company servers and data breaching of over 10,000 customers in February 2022. COVID-19 laid a positive impact on tokenization boosting its demand in the market due to the rising preference for contactless and digitalized transactions, also continuous technological advancements fulfilled the demand of companies. However, the difficulty faced during the installation of the Tokenization Solution stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Tokenization Solution Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World.North America dominated the market for tokenization solutions. Due to prevailing advanced digital technologies, Americans prefer online payments, this region accounts forthe highest adoption of cloud technology. Major Companies inNorth America are shifting towards e-commerce. For instance, U.S. Companies provide mostly online payment networks thereby boosting the demand for digitalized payments. The fastest growing region is expected to be Asia Pacific as it is witnessing high growth in technological innovations, rising use of the internet and smartphones among the consumers and payment innovations are driving the market.
Major market players included in this report are:
- Visa, Inc.
- MasterCard, Inc.
- Fiserv, Inc.
- Micro Focus International plc
- American Express Company
- Thales Group
- Paymetric, Inc.
- Goldman Sachs Group, Inc.
- CipherCloud, Inc
- Liaison Technologies, Inc.
Recent Developments in the Market:
- InOctober 2021, Goldman Sachs collaborated with American Express to deliver a secured payment solution through cloud technology.
- In September 2021, CipherTrace was acquired by Mastercard to provide businesses with greater transparency in order to help them avoid risks.
- In June 2021, Amazon Web Services partnered with Micro Focusto provide AWS customers with minimized breach exposures and automated risk identification.
Global Tokenization Solution Market Report Scope:
- Historical Data 2019-2020-2021
- Base Year for Estimation 2021
- Forecast period 2022-2029
- Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered Component, Application Area, Technology, Deployment, Industry Vertical, Region
- Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporatespotential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:
ByComponent:
By Application Area:
- Payment Security
- User Authentication
- Compliance Management
- Others
By Technology:
- Application Programming Interface-based
- Gateway-based
ByDeployment:
By Industry Vertical:
- Retail and E-commerce
- Healthcare
- IT
- Government
- BFSI
- Energy & Utilities
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Tokenization Solution Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Tokenization Solution Market, by Component, 2019-2029 (USD Billion)
- 1.2.3. Tokenization Solution Market, by Application Area, 2019-2029 (USD Billion)
- 1.2.4. Tokenization Solution Market, by Technology, 2019-2029 (USD Billion)
- 1.2.5. Tokenization Solution Market, by Deployment, 2019-2029 (USD Billion)
- 1.2.6. Tokenization Solution Market, by Industry Vertical, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Tokenization Solution Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Tokenization Solution Market Dynamics
- 3.1. Tokenization Solution Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing Adoption of Digital Payments.
- 3.1.1.2. Maintains Confidentiality of Sensitive Data.
- 3.1.2. Market Challenges
- 3.1.2.1. Difficulty in Installation of Tokenization.
- 3.1.3. Market Opportunities
- 3.1.3.1. Advancements in Formulation
- 3.1.3.2. Positive Impact of COVID-19.
Chapter 4. Global Tokenization Solution Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Investment Adoption Model
- 4.5. Analyst Recommendation & Conclusion
- 4.6. Top investment opportunity
- 4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Tokenization Solution Market, by Component
- 6.1. Market Snapshot
- 6.2. Global Tokenization Solution Market by Component, Performance - Potential Analysis
- 6.3. Global Tokenization Solution Market Estimates & Forecasts by Component2019-2029 (USD Billion)
- 6.4. Tokenization Solution Market, Sub Segment Analysis
- 6.4.1. Solution
- 6.4.2. Services
Chapter 7. Global Tokenization Solution Market, by Application Area
- 7.1. Market Snapshot
- 7.2. Global Tokenization Solution Market by Application Area, Performance - Potential Analysis
- 7.3. Global Tokenization Solution Market Estimates & Forecasts by Application Area2019-2029 (USD Billion)
- 7.4. Tokenization Solution Market, Sub Segment Analysis
- 7.4.1. Payment Security
- 7.4.2. User Authentication
- 7.4.3. Compliance Management
- 7.4.4. Others
Chapter 8. Global Tokenization Solution Market, by Technology
- 8.1. Market Snapshot
- 8.2. Global Tokenization Solution Market by Technology, Performance - Potential Analysis
- 8.3. Global Tokenization Solution Market Estimates & Forecasts by Technology2019-2029 (USD Billion)
- 8.4. Tokenization Solution Market, Sub Segment Analysis
- 8.4.1. Application Programming Interface-based
- 8.4.2. Gateway-based
Chapter 9. Global Tokenization Solution Market, by Deployment
- 9.1. Market Snapshot
- 9.2. Global Tokenization Solution Market by Deployment, Performance - Potential Analysis
- 9.3. Global Tokenization Solution Market Estimates & Forecasts by Deployment2019-2029 (USD Billion)
- 9.4. Tokenization Solution Market, Sub Segment Analysis
- 9.4.1. Cloud
- 9.4.2. On-Premises
Chapter 10. Global Tokenization Solution Market, by Industry Vertical
- 10.1. Market Snapshot
- 10.2. Global Tokenization Solution Market by Industry Vertical, Performance - Potential Analysis
- 10.3. Global Tokenization Solution Market Estimates & Forecasts by Industry Vertical 2019-2029 (USD Billion)
- 10.4. Tokenization Solution Market, Sub Segment Analysis
- 10.4.1. Retail and E-commerce
- 10.4.2. Healthcare
- 10.4.3. IT
- 10.4.4. Government
- 10.4.5. BFSI
- 10.4.6. Energy & Utilities
- 10.4.7. Others
Chapter 11. Global Tokenization Solution Market, Regional Analysis
- 11.1. Tokenization Solution Market, Regional Market Snapshot
- 11.2. North America Tokenization Solution Market
- 11.2.1. U.S. Tokenization Solution Market
- 11.2.1.1. Component breakdown estimates & forecasts, 2019-2029
- 11.2.1.2. Application Area breakdown estimates & forecasts, 2019-2029
- 11.2.1.3. Technology breakdown estimates & forecasts, 2019-2029
- 11.2.1.4. Deployment breakdown estimates & forecasts, 2019-2029
- 11.2.1.5. Industry Vertical breakdown estimates & forecasts, 2019-2029
- 11.2.2. Canada Tokenization Solution Market
- 11.3. Europe Tokenization Solution Market Snapshot
- 11.3.1. U.K. Tokenization Solution Market
- 11.3.2. Germany Tokenization Solution Market
- 11.3.3. France Tokenization Solution Market
- 11.3.4. Spain Tokenization Solution Market
- 11.3.5. Italy Tokenization Solution Market
- 11.3.6. Rest of Europe Tokenization Solution Market
- 11.4. Asia-Pacific Tokenization Solution Market Snapshot
- 11.4.1. China Tokenization Solution Market
- 11.4.2. India Tokenization Solution Market
- 11.4.3. Japan Tokenization Solution Market
- 11.4.4. Australia Tokenization Solution Market
- 11.4.5. South Korea Tokenization Solution Market
- 11.4.6. Rest of Asia Pacific Tokenization Solution Market
- 11.5. Latin America Tokenization Solution Market Snapshot
- 11.5.1. Brazil Tokenization Solution Market
- 11.5.2. Mexico Tokenization Solution Market
- 11.6. Rest of The World Tokenization Solution Market
Chapter 12. Competitive Intelligence
- 12.1. Top Market Strategies
- 12.2. Company Profiles
- 12.2.1. Visa, Inc.
- 12.2.1.1. Key Information
- 12.2.1.2. Overview
- 12.2.1.3. Financial (Subject to Data Availability)
- 12.2.1.4. Product Summary
- 12.2.1.5. Recent Developments
- 12.2.2. MasterCard, Inc.
- 12.2.3. Fiserv, Inc.
- 12.2.4. Micro Focus International plc
- 12.2.5. American Express Company
- 12.2.6. Thales Group
- 12.2.7. Paymetric, Inc.
- 12.2.8. Goldman Sachs Group, Inc.
- 12.2.9. CipherCloud, Inc
- 12.2.10. Liaison Technologies, Inc.
Chapter 13. Research Process
- 13.1. Research Process
- 13.1.1. Data Mining
- 13.1.2. Analysis
- 13.1.3. Market Estimation
- 13.1.4. Validation
- 13.1.5. Publishing
- 13.2. Research Attributes
- 13.3. Research Assumption