SUMMERY:
Market
Research Future published a research report on “Tokenization Market Research
Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and
Forecast to 2023.
Global Tokenization Market Overview
Tokenization is the process of creating a ‘token’ that
processes sensitive data. Tokenization refers to a solution that provides
real-time payment of data security for all transactions using tablets,
smartphones, laptops, and other electronic devices. Tokenization is a
relatively new technology that is majorly driven by the tokenization system
such as the security reduction and risk reduction benefits sensitive data
replaced by the token, which is then isolated and segmented data that is stored
in the database. Market Research Future (MRFR) has studied the global Tokenization
Market over the
forecast period of 2017-2023 and presented this in the form of a market
research report.
This report by Market Research Future (MRFR) has
suggested that the global tokenization market is likely to witness fast-paced
growth, ascending at 24.14% CAGR during the defined review period. Upscaling
demand for alternatives for optimization of the online payment process,
ascending payment fraudulence, and a mounting demand for tokenization in
different end-user industries such as IT and telecom, BFSI, automotive and
healthcare are some of the prominent factors contributing to the ascension of the
global tokenization market over the forecast period. The global tokenization
market is also expected to garner a robust market revenue valuation of USD
2341.38 billion by the end of the forecast period.
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Key Players
The prominent players in the
tokenization market are –Symantec Corporation (US), Gemalto NV (Netherlands),
CardConnect Corp. (US), Thales e-Security, Inc. (US), CyberSource Corporation
(US), 3Delta Systems, Inc.(US), CipherCloud (US), Hewlett-Packard Enterprises
(US), Liaison Technologies, Inc.(US), Futurex (US), Fiserv, Inc. (US),
Paymetric, Inc. (US), First Data Corporation (US), and TokenEx LLC (US), Protegrity USA, Inc.
(US) among others
Market Segmentation
The global tokenization
market is studied for various segments that are based on component, application
area, deployment, organization size, end-user, and region. Based on component,
the global tokenization market is segmented into integration services,
professional services, service, consulting, solution managed services, support
and maintenance, and training and education.
Based on application area,
the global tokenization market is segmented into compliance management, payment
security, and user authentication.
Based on deployment, the
global tokenization market is segmented into outdoor positioning system, indoor
positioning system, and others.
Based on organization size,
the global tokenization market is segmented into small and medium enterprises
and large enterprises.
Based on end-users, the
global tokenization market is segmented into telecom and IT, BFSI, healthcare,
government and defense, commercial, industrial, automotive, and retail.
Regional Analysis
The global tokenization
market has been analyzed for the regional segmentation of North America, South
America, Asia Pacific, Europe, and the Middle East & Africa. North America
is anticipated to lead the global tokenization market over the forecast period.
This can be attributed to the increasing penetration of the internet and
upscaling payment frauds that have led to a mounting need for payment security.
On the other hand, Asia
Pacific is anticipated to garner faster growth rate over the forecast period.
This can be owed to the fast-paced economic development in various emerging
countries such as India, China, and Japan. This can also be accredited to the
fact that companies residing in these regions are cheaper, easier to use, and
more secure as compared to end-to-end encryption. These factors are promoting
the regional market for tokenization solutions to ascend at the fastest rate
over the forecast period.
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Industry Update
February 2019: Securitize.IO recently partnered
with Elevated Returns to assist with a large-scale tokenization event. Tezos
was chosen for this event.
February 2019: BitGo announced the launch of
their Wrapped Bitcoin. This is a new crypto hybrid and Ethereum-based token
that is backed up by a regular bitcoin.
January 2019: Swarm announced the launch of
their no-fee issuance of security tokens for providing digital security. Swarm
is a non-profit organization.
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complexity of various industries through our Cooked Research Report (CRR),
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