About Tokenization
Tokenization is a way to protect consumer data from potential breach by using unspecified numbers which contains essential information thus, eliminating the need to provide whole card details while making online transactions. This payment security method helps online businesses in protecting their data breach. With increasing cases of data breach across industries resulting in huge capital loss, tokenization provides a great platform for key players to find ways and means to make this system robust.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 24.6% |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Tokenization market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Symantec [United States], Thales e-Security [United States], Visa [United States], WEX [United States], Worldpay [United States], Dell Technologies [United States], CipherCloud [United States], Futurex [United States], First Data [United States], Gemalto [Netherlands], Fiserv [United States], Micro Focus [United Kingdom], Liaison Technologies [United States], Protegrity [United States], TokenEx [United States], Bluefin [United States], Sequent Software [United States], Discover Financial Services [United States], Verifone [United States] and IP Solution International [Australia] are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Hewlett Packard Enterprise Development LP [United States], CyberSource [United States], Paymetric.com [United States], Carta Worldwide [Canada], Merchant Link [United States], Ingenico ePayments [United States], Rambus [United States] and Mastercard [United States.
Segmentation Overview
AMA Research has segmented the market of Global Tokenization market by , Application (Payment Security and Compliance Management) and Region.
On the basis of geography, the market of Tokenization has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by End Users, the sub-segment i.e. BFSI will boost the Tokenization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Small & Medium Enterprise will boost the Tokenization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. On-premises will boost the Tokenization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technique, the sub-segment i.e. API-based will boost the Tokenization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solution, the sub-segment i.e. Payment Security will boost the Tokenization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand for Cloud Based Tokenization Security Solution and Rising Adoption of Data Tokenization for Mobile Apps
Market Growth Drivers:
Growing Need to Prevent of Payment Fraud Cases and Stringent Regulatory Guidelines Set by Payment Card Industry Data Security Standard (PCI DSS) and Need for Compliance with Them
Challenges:
Inability of Tokenization System to Provide Full-proof Security Solution
Restraints:
Lack of Awareness About Tokenization System Among End user Industries and Issue Related with Implementation of This System
Opportunities:
Growing Digital Payment Methods Across Industry Verticals and Rapid Growth in eCommerce Market
PCI DSS (Payment Card Industry Data Security Standard), a set of security standards, compliance is required for any business that processes credit or debit card transactions. The agency has set various guidelines which need adherence. The guidelines are Secure network, Secure cardholder data, Vulnerability management, Access control, Network monitoring & testing and Information security.
Key Target Audience
Payment solution providers, Software vendors, Value-Added Resellers, Information Technology security agencies, System Security, Software investors, Government agencies, Tokenization vendors, Managed Security Service Providers, Tokenization Service Provider, Tokenization Agencies, Technology Integrators, Research/Consultancy firms, System integrators and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.