Market Snapshot:
Tokenization is the process of replacement of sensitive data with unique identification symbols that retain all the essential information about the data without compromising its security. Tokenization protects data of credit card, and bank account information, along with sensitive data handled by a payment processor. This could include mobile wallets and e-commerce sites as well as businesses that use delicate data. Owing to technological applications and widespread standardization of digital services, tokenization offers data security benefits and protects from leaks and malicious attacks. Therefore, fuelling the tokenization market growth in the forthcoming years.
Highlights from Tokenisation Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Players profiled in the report are Fiserv Inc. (United States), Visa Inc. (United States), Mastercard International Incorporated (United States), Micro Focus LLC (UK), American Express Company (United States), THALES (France), Fidelity National Information Services Inc. (United States), Lookout (United States), Futurex (United States) and CardConnect (United States). Additionally, other players that are part of this comprehensive study are FIS (United States), MeaWallet (Norway) and AsiaPay (China).
Geographic Breakdown and Segment Analysis
The Global Tokenisation market presents a comprehensive analysis of the Tokenisation market by end-user/application (Payment Security, User Authentication, Compliance Management and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Tokenisation industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Tokenisation market
Analyst at AMA have segmented the market study of Global Tokenisation market by Type, Application and Region.
Influencing Trend:
Surge in Investment Opportunities and Introduction of Block Chain Technology
Market Growth Drivers:
Increasing Utilization of Digital Transactions and Reduced Risk of Data Breaches
Challenges:
The dearth of Skilled Workforce and Below-Par Management and The surge in Cyber-Attacks and Payment-Related Fraud
Restraints:
Intricacies Associated With the Execution of the Tokenization Process
Opportunities:
Mounting Demand for Cloud-Based Tokenization Solutions and Services
Market Developments Activities:
In July 2022, Thales signed an agreement to acquire OneWelcome, a Customer Identity, and Access Management, for 100 million pounds. The acquisition will strengthen and complement the company’s Identity services including secure credential enrolment, Know Your Customer, issuance management, etc., in order to enhance its Identity Platform in the market.
In January 2022, Inveniam Capital Partners Inc. and its operating system, Inveniam.io, partnered with Tokeny Solutions for a 5 million pounds investment in the Luxembourg-based tokenization platform. The operating system offers a comprehensive and institutional-grade white-label solution for digital assets that allows owners and managers to efficiently and compliantly issue, transfer, and manage digital assets.
Key competitors in this market adopt various digital technology to enhance their service capabilities and offerings. The company’s ability to rapidly develop and launch innovative products drives robust engagement and helps in establishing strategic relationships with global brands. Apart from this, profitable acquisitions and mergers as well as mutual partnerships help firms maintain their competitive advantage.
Key Target Audience
Financial Companies, Blockchain Businesses, Government Agencies, Potential Investors, Research and Development Institutes, End Users and Others