Growing Security Concerns to boost the demand for Tokenization Market
The tokenization market worldwide is expected to grow with a CAGR of 18.9% during the forecast period from 2019 to 2027, starting from US$ 880.9 Mn in 2018. Growth of security concerns worldwide are driving the growth for tokenization market. Tokenization system is a data security system which change the data in unique symbols, known as token and carry all the required information of the sensitive data. Tokenization helps in securing sensitive data information, provides internal protection, reduced data loss chances and others. Nowadays, tokenization system is widely being used by various end-use industries such as BFSI, defense, healthcare and others. Thus, we expect that the tokenization market will show tremendous growth during the forecast period.
Market Synopsis
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BFSI will led the Market
The BFSI (banking, financial services and insurance) segment leads the tokenization market by application in 2018. In the same year, the BFSI segment accounts for nearly 25% of the revenue share. The global banking and capital market industry have US$ 123.7 Tn worth of assets in 2017. To prevent client’s data from disclosure, to prevent credit card fraud, and other deceptions the tokenization system is widely adopted by banks, financial services organizations and insurance companies. As a result, we are expecting significant growth in the BFSI segment during the forecast period.
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Asia Pacific will be the Fastest Growing
North America leads the tokenization market in 2018 followed by Europe and Asia Pacific. North America has 1/3rd of the revenue share in the same year. Technological advancements and adoption of tokenization are the major growth factors for the market. We expect that Asia Pacific will be the fastest growing region in the tokenization market during the forecast period. Growth of BFSI industry and rising cash less transactions in the region are the major factors for the growth of Asia Pacific. Consequently, we expect that the Asia Pacific region will be the fastest growing region in the tokenization market throughout the forecast period.
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Some of the prominent players operating in the tokenization market First Data Corporation, Gemalto, Fiserv, Inc., Micro Focus, Symantec Corporation, Thales e-Security, Inc., Visa Inc., WEX Inc., Worldpay Group plc, CipherCloud , Liaison Technologies, Inc., Protegrity USA, Inc., TokenEx, Bluefin, Mastercard Incorporated, Ingenico, Discover Financial Services among others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The tokenization market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global tokenization market based on component, end-user, solution and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
Component Segment (2017–2027; US$ Mn)
• Software
• On-premise
• Cloud-based
• Hardware
• Services
• Managed Services
• Professional Services
|
|
End-user Segment (2017–2027; US$ Mn)
• BFSI
• Consumer Goods & Retail
• Education
• Defense
• Automotive
• IT and Telecom
• Energy & Utilities
• Manufacturing
• Others (Hospitality, Transportation, etc.)
|
|
Solution Segment (2017–2027; US$ Mn)
• Payment Security
• Customer Data Management
• Compliance
• Encryption
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S. and Rest of North America)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)
|
Key questions answered in this report
- What was the market size of tokenization in 2018 and forecast up to 2027?
- Which is the largest regional market for tokenization?
- What are the major trends followed in overall tokenization across different regions?
- Who are the key tokenization companies leading the market?
- What are the key strategies adopted by the leading tokenization companies in market?
Unique data points of this report
- Statistics on data security worldwide
- Recent trends across different regions in terms of adoption of tokenization across various applications
- Notable developments going on in tokenization market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
