The Global Tokenization market is expected to grow from USD 1.8 billion in 2020 to USD 7.79 billion by 2028, at a CAGR of 20.1% during the forecast period 2021-2028.
Tokenization refers to a process of replacing data with unique identifying symbols that contain all of the material's important information. Tokenization, which also seeks to reduce the amount of data a company must keep on hand. Tokenization replaces sensitive data with comparable non-sensitive data. A token is a piece of non-sensitive replacement information. The tokenization technique has been widely utilized to protect critical sensitive information against fraud. This tokenization has become a popular way for small and medium-sized businesses to improve the security of credit card and e-commerce transactions while reducing the cost and complexity of complying with industry standards and government regulations. Some of the significant benefits of tokenization are security from hackers and thieves, reduced PCI scope, internet protection, and internal protection.
The factors driving the market are the growing need to secure sensitive data and information against compromise, increased emphasis on satisfying consumer demand and enhancing customer experience, and growing demand for cloud-based tokenization. The factors restraining the market growth are the lack of understanding and information about tokenization and ambivalence between encryption and tokenization amongst end-users. Growing customers' preference for contactless payments due to the COVID-19 epidemic is expected to provide market growth opportunities.
This study delivers a comprehensive analysis of organization size, tokenization technique, deployment type, verticals, components, application area, and region. The organization size segment includes SMEs and large enterprises. The SMEs segment held the largest market share, owing to the rising use of tokenization solutions and services amongst SMEs to comply with rules and reduce the risk of fraud. The tokenization technique segment includes API-Based and Gateway-Based. The API-Based segment held the largest market share, owing to the rising application in various domains. The deployment type segment includes On-premises and Cloud. The cloud segment held the largest market share, owing to the increasing demand for a cloud solution, increasing adoption rate by SMEs, and decreasing expenses connected with software, hardware, storage, and technical staff. The verticals segment includes BFSI, Healthcare, IT and ITES, Government, Retail and eCommerce, Energy and Utilities, and others. The BFSI segment holds a significant market share, owing to the rising cybercrime and consistent demand for innovative payment security solutions and services to secure its employees, customers, assets, branches, operations, and offices in the industry. The component segment includes solutions and services. The solutions segment held the largest market share, owing to the increasing demand and rising adoption of tokenization solutions to reduce the risk of payment fraud & identity thefts. The application area segment includes Payment Security, User Authentication, and Compliance Management. The Payment Security segment held the largest market share, owing to the ability to helps in the process of improving customer experience and maintaining fraud prevention levels.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America holds the largest market share in the U.S., owing to the presence of regulations such as the CCPA, increase in cyber assaults and payment fraud, and rising acceptance for contactless cards and digital-first credit cards in the region. The Asia-Pacific region is anticipated to grow and holds the largest share due to the increasing online purchasing and payment alternatives and a growing need for efficient, rapid, and reliable digital infrastructure.
Some of the notable players in the market are Visa, Fiserv, Mastercard, Micro Focus, Thales TCT, American Express, Ingenico Payments, TokenEx, HelpSystems, MeaWallet, CipherCloud, Futurex, nCipher, VeriFone, Bluefin Payment Systems, IntegraPay, AsiaPay, Paragon Payment Solutions, Liaison Technologies, and Marqeta. In August 2020, Fiserv was chosen by Federal Bank to facilitate the introduction of their first independent credit card.
Global Tokenization Market Analysis and Forecast, Organization Size
Global Tokenization Market Analysis and Forecast, Tokenization Technique
Global Tokenization Market Analysis and Forecast, Deployment Type
Global Tokenization Market Analysis and Forecast, Verticals
Global Tokenization Market Analysis and Forecast, Component
Global Tokenization Market Analysis and Forecast, Application Area
Global Tokenization Market Analysis and Forecast, Region
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Organization Size
4.3.2. Market Attractiveness Analysis By Tokenization Technique
4.3.3. Market Attractiveness Analysis By Deployment Type
4.3.4. Market Attractiveness Analysis By Vertical
4.3.5. Market Attractiveness Analysis By Component
4.3.6. Market Attractiveness Analysis By Application Area
4.3.7. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Growing need to secure sensitive data against compromise
5.3. Restrains
5.3.1. Lack of understanding and information
5.4. Opportunities
5.4.1. Growing preference for contactless payments
6. Global Tokenization Market Analysis and Forecast, By Organization Size
6.1. Segment Overview
6.2. SMEs
6.3. Large Enterprises
7. Global Tokenization Market Analysis and Forecast, By Tokenization Technique
7.1. Segment Overview
7.2. API-Based
7.3. Gateway-Based
8. Global Tokenization Market Analysis and Forecast, By Deployment Type
8.1. Segment Overview
8.2. On-Premise
8.3. Cloud
9. Global Tokenization Market Analysis and Forecast, By Vertical
9.1. Segment Overview
9.2. BFSI
9.3. Healthcare
9.4. IT and ITES
9.5. Government
9.6. Retail and eCommerce
9.7. Energy and Utilities
9.8. Others
10. Global Tokenization Market Analysis and Forecast, By Component
10.1. Segment Overview
10.2. Solutions
10.3. Services
11. Global Tokenization Market Analysis and Forecast, By Application Area
11.1. Segment Overview
11.2. Payment Security
11.3. User Authentication
11.4. Compliance Management
12. Global Tokenization Market Analysis and Forecast, By Regional Analysis
12.1. Segment Overview
12.2. North America
12.2.1. U.S.
12.2.2. Canada
12.2.3. Mexico
12.3. Europe
12.3.1. Germany
12.3.2. France
12.3.3. U.K.
12.3.4. Italy
12.3.5. Spain
12.4. Asia-Pacific
12.4.1. Japan
12.4.2. China
12.4.3. India
12.5. South America
12.5.1. Brazil
12.6. Middle East and Africa
12.6.1. UAE
12.6.2. South Africa
13. Global Tokenization Market-Competitive Landscape
13.1. Overview
13.2. Market Share of Key Players in Global Tokenization Market
13.2.1. Global Company Market Share
13.2.2. North America Company Market Share
13.2.3. Europe Company Market Share
13.2.4. APAC Company Market Share
13.3. Competitive Situations and Trends
13.3.1. Product Launches and Developments
13.3.2. Partnerships, Collaborations, and Agreements
13.3.3. Mergers & Acquisitions
13.3.4. Expansions
14. Company Profiles
14.1. Visa
14.1.1. Business Overview
14.1.2. Company Snapshot
14.1.3. Company Market Share Analysis
14.1.4. Company Product Portfolio
14.1.5. Recent Developments
14.1.6. SWOT Analysis
14.2. Fiserv
14.2.1. Business Overview
14.2.2. Company Snapshot
14.2.3. Company Market Share Analysis
14.2.4. Company Product Portfolio
14.2.5. Recent Developments
14.2.6. SWOT Analysis
14.3. Mastercard
14.3.1. Business Overview
14.3.2. Company Snapshot
14.3.3. Company Market Share Analysis
14.3.4. Company Product Portfolio
14.3.5. Recent Developments
14.3.6. SWOT Analysis
14.4. Micro Focus
14.4.1. Business Overview
14.4.2. Company Snapshot
14.4.3. Company Market Share Analysis
14.4.4. Company Product Portfolio
14.4.5. Recent Developments
14.4.6. SWOT Analysis
14.5. Thales TCT
14.5.1. Business Overview
14.5.2. Company Snapshot
14.5.3. Company Market Share Analysis
14.5.4. Company Product Portfolio
14.5.5. Recent Developments
14.5.6. SWOT Analysis
14.6. American Express
14.6.1. Business Overview
14.6.2. Company Snapshot
14.6.3. Company Market Share Analysis
14.6.4. Company Product Portfolio
14.6.5. Recent Developments
14.6.6. SWOT Analysis
14.7. Ingenico Payments
14.7.1. Business Overview
14.7.2. Company Snapshot
14.7.3. Company Market Share Analysis
14.7.4. Company Product Portfolio
14.7.5. Recent Developments
14.7.6. SWOT Analysis
14.8. TokenEx
14.8.1. Business Overview
14.8.2. Company Snapshot
14.8.3. Company Market Share Analysis
14.8.4. Company Product Portfolio
14.8.5. Recent Developments
14.8.6. SWOT Analysis
14.9. HelpSystems
14.9.1. Business Overview
14.9.2. Company Snapshot
14.9.3. Company Market Share Analysis
14.9.4. Company Product Portfolio
14.9.5. Recent Developments
14.9.6. SWOT Analysis
14.10. MeaWallet
14.10.1. Business Overview
14.10.2. Company Snapshot
14.10.3. Company Market Share Analysis
14.10.4. Company Product Portfolio
14.10.5. Recent Developments
14.10.6. SWOT Analysis
14.11. CipherCloud
14.11.1. Business Overview
14.11.2. Company Snapshot
14.11.3. Company Market Share Analysis
14.11.4. Company Product Portfolio
14.11.5. Recent Developments
14.11.6. SWOT Analysis
14.12. Futurex
14.12.1. Business Overview
14.12.2. Company Snapshot
14.12.3. Company Market Share Analysis
14.12.4. Company Product Portfolio
14.12.5. Recent Developments
14.12.6. SWOT Analysis
14.13. nCipher
14.13.1. Business Overview
14.13.2. Company Snapshot
14.13.3. Company Market Share Analysis
14.13.4. Company Product Portfolio
14.13.5. Recent Developments
14.13.6. SWOT Analysis
14.14. VeriFone
14.14.1. Business Overview
14.14.2. Company Snapshot
14.14.3. Company Market Share Analysis
14.14.4. Company Product Portfolio
14.14.5. Recent Developments
14.14.6. SWOT Analysis
14.15. Bluefin Payment Systems
14.15.1. Business Overview
14.15.2. Company Snapshot
14.15.3. Company Market Share Analysis
14.15.4. Company Product Portfolio
14.15.5. Recent Developments
14.15.6. SWOT Analysis
14.16. IntegraPay
14.16.1. Business Overview
14.16.2. Company Snapshot
14.16.3. Company Market Share Analysis
14.16.4. Company Product Portfolio
14.16.5. Recent Developments
14.16.6. SWOT Analysis
14.17. AsiaPay
14.17.1. Business Overview
14.17.2. Company Snapshot
14.17.3. Company Market Share Analysis
14.17.4. Company Product Portfolio
14.17.5. Recent Developments
14.17.6. SWOT Analysis
14.18. Paragon Payment Solutions
14.18.1. Business Overview
14.18.2. Company Snapshot
14.18.3. Company Market Share Analysis
14.18.4. Company Product Portfolio
14.18.5. Recent Developments
14.18.6. SWOT Analysis
14.19. Liaison Technologies
14.19.1. Business Overview
14.19.2. Company Snapshot
14.19.3. Company Market Share Analysis
14.19.4. Company Product Portfolio
14.19.5. Recent Developments
14.19.6. SWOT Analysis
14.20. Marqeta
14.20.1. Business Overview
14.20.2. Company Snapshot
14.20.3. Company Market Share Analysis
14.20.4. Company Product Portfolio
14.20.5. Recent Developments
14.20.6. SWOT Analysis
List of Table
1. Global Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
2. Global SMEs, Tokenization Market, By Region, 2018-2028 (USD Billion)
3. Global Large Enterprises, Tokenization Market, By Region, 2018-2028 (USD Billion)
4. Global Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
5. Global API-Based, Tokenization Market, By Region, 2018-2028 (USD Billion)
6. Global Gateway-Based, Tokenization Market, By Region, 2018-2028 (USD Billion)
7. Global Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
8. Global On-Premise, Tokenization Market, By Region, 2018-2028 (USD Billion)
9. Global Cloud, Tokenization Market, By Region, 2018-2028 (USD Billion)
10. Global Tokenization Market, By Vertical, 2018-2028 (USD Billion)
11. Global BFSI, Tokenization Market, By Region, 2018-2028 (USD Billion)
12. Global Healthcare, Tokenization Market, By Region, 2018-2028 (USD Billion)
13. Global IT and ITES, Tokenization Market, By Region, 2018-2028 (USD Billion)
14. Global Government, Tokenization Market, By Region, 2018-2028 (USD Billion)
15. Global Retail and eCommerce, Tokenization Market, By Region, 2018-2028 (USD Billion)
16. Global Energy and Utilities, Tokenization Market, By Region, 2018-2028 (USD Billion)
17. Global Others, Tokenization Market, By Region, 2018-2028 (USD Billion)
18. Global Tokenization Market, By Component, 2018-2028 (USD Billion)
19. Global Solution, Tokenization Market, By Region, 2018-2028 (USD Billion)
20. Global Services, Tokenization Market, By Region, 2018-2028 (USD Billion)
21. Global Tokenization Market, By Application Area, 2018-2028 (USD Billion)
22. Global Payment Security, Tokenization Market, By Region, 2018-2028 (USD Billion)
23. Global User Authentication, Tokenization Market, By Region, 2018-2028 (USD Billion)
24. Global Compliance Management, Tokenization Market, By Region, 2018-2028 (USD Billion)
25. North America Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
26. North America Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
27. North America Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
28. North America Tokenization Market, By Vertical, 2018-2028 (USD Billion)
29. North America Tokenization Market, By Component, 2018-2028 (USD Billion)
30. North America Tokenization Market, By Application Area, 2018-2028 (USD Billion)
31. U.S. Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
32. U.S. Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
33. U.S. Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
34. U.S. Tokenization Market, By Vertical, 2018-2028 (USD Billion)
35. U.S. Tokenization Market, By Component, 2018-2028 (USD Billion)
36. U.S. Tokenization Market, By Application Area, 2018-2028 (USD Billion)
37. Canada Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
38. Canada Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
39. Canada Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
40. Canada Tokenization Market, By Vertical, 2018-2028 (USD Billion)
41. Canada Tokenization Market, By Component, 2018-2028 (USD Billion)
42. Canada Tokenization Market, By Application Area, 2018-2028 (USD Billion)
43. Mexico Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
44. Mexico Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
45. Mexico Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
46. Mexico Tokenization Market, By Vertical, 2018-2028 (USD Billion)
47. Mexico Tokenization Market, By Component, 2018-2028 (USD Billion)
48. Mexico Tokenization Market, By Application Area, 2018-2028 (USD Billion)
49. Europe Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
50. Europe Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
51. Europe Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
52. Europe Tokenization Market, By Vertical, 2018-2028 (USD Billion)
53. Europe Tokenization Market, By Component, 2018-2028 (USD Billion)
54. Europe Tokenization Market, By Application Area, 2018-2028 (USD Billion)
55. Germany Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
56. Germany Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
57. Germany Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
58. Germany Tokenization Market, By Vertical, 2018-2028 (USD Billion)
59. Germany Tokenization Market, By Component, 2018-2028 (USD Billion)
60. Germany Tokenization Market, By Application Area, 2018-2028 (USD Billion)
61. France Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
62. France Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
63. France Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
64. France Tokenization Market, By Vertical, 2018-2028 (USD Billion)
65. France Tokenization Market, By Component, 2018-2028 (USD Billion)
66. France Tokenization Market, By Application Area, 2018-2028 (USD Billion)
67. U.K. Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
68. U.K. Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
69. U.K. Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
70. U.K. Tokenization Market, By Vertical, 2018-2028 (USD Billion)
71. U.K. Tokenization Market, By Component, 2018-2028 (USD Billion)
72. U.K. Tokenization Market, By Application Area, 2018-2028 (USD Billion)
73. Italy Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
74. Italy Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
75. Italy Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
76. Italy Tokenization Market, By Vertical, 2018-2028 (USD Billion)
77. Italy Tokenization Market, By Component, 2018-2028 (USD Billion)
78. Italy Tokenization Market, By Application Area, 2018-2028 (USD Billion)
79. Spain Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
80. Spain Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
81. Spain Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
82. Spain Tokenization Market, By Vertical, 2018-2028 (USD Billion)
83. Spain Tokenization Market, By Component, 2018-2028 (USD Billion)
84. Spain Tokenization Market, By Application Area, 2018-2028 (USD Billion)
85. Asia Pacific Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
86. Asia Pacific Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
87. Asia Pacific Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
88. Asia Pacific Tokenization Market, By Vertical, 2018-2028 (USD Billion)
89. Asia Pacific Tokenization Market, By Component, 2018-2028 (USD Billion)
90. Asia Pacific Tokenization Market, Application Area, 2018-2028 (USD Billion)
91. Japan Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
92. Japan Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
93. Japan Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
94. Japan Tokenization Market, By Vertical, 2018-2028 (USD Billion)
95. Japan Tokenization Market, By Component, 2018-2028 (USD Billion)
96. Japan Tokenization Market, By Application Area, 2018-2028 (USD Billion)
97. China Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
98. China Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
99. China Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
100. China Tokenization Market, By Vertical, 2018-2028 (USD Billion)
101. China Tokenization Market, By Component, 2018-2028 (USD Billion)
102. China Tokenization Market, By Application Area, 2018-2028 (USD Billion)
103. India Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
104. India Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
105. India Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
106. India Tokenization Market, By Vertical, 2018-2028 (USD Billion)
107. India Tokenization Market, By Component, 2018-2028 (USD Billion)
108. India Tokenization Market, By Application Area, 2018-2028 (USD Billion)
109. South America Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
110. South America Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
111. South America Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
112. South America Tokenization Market, By Vertical, 2018-2028 (USD Billion)
113. South America Tokenization Market, By Component, 2018-2028 (USD Billion)
114. South America Tokenization Market, By Application Area, 2018-2028 (USD Billion)
115. Brazil Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
116. Brazil Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
117. Brazil Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
118. Brazil Tokenization Market, By Vertical, 2018-2028 (USD Billion)
119. Brazil Tokenization Market, By Component, 2018-2028 (USD Billion)
120. Brazil Tokenization Market, By Application Area, 2018-2028 (USD Billion)
121. Middle East and Africa Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
122. Middle East and Africa Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
123. Middle East and Africa Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
124. Middle East and Africa Tokenization Market, By Vertical, 2018-2028 (USD Billion)
125. Middle East and Africa Tokenization Market, By Component, 2018-2028 (USD Billion)
126. Middle East and Africa Tokenization Market, By Application Area, 2018-2028 (USD Billion)
127. UAE Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
128. UAE Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
129. UAE Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
130. UAE Tokenization Market, By Vertical, 2018-2028 (USD Billion)
131. UAE Tokenization Market, By Component, 2018-2028 (USD Billion)
132. UAE Tokenization Market, By Application Area, 2018-2028 (USD Billion)
133. South Africa Tokenization Market, By Organization Size, 2018-2028 (USD Billion)
134. South Africa Tokenization Market, By Tokenization Technique, 2018-2028 (USD Billion)
135. South Africa Tokenization Market, By Deployment Type, 2018-2028 (USD Billion)
136. South Africa Tokenization Market, By Vertical, 2018-2028 (USD Billion)
137. South Africa Tokenization Market, By Component, 2018-2028 (USD Billion)
138. South Africa Tokenization Market, By Application Area, 2018-2028 (USD Billion)
List of Figures
1. Global Tokenization Market Segmentation
2. Global Tokenization Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Tokenization Market Attractiveness Analysis By Organization Size
9. Global Tokenization Market Attractiveness Analysis By Tokenization Technique
10. Global Tokenization Market Attractiveness Analysis By Deployment Type
11. Global Tokenization Market Attractiveness Analysis By Vertical
12. Global Tokenization Market Attractiveness Analysis By Component
13. Global Tokenization Market Attractiveness Analysis By Application Area
14. Global Tokenization Market Attractiveness Analysis By Region
15. Global Tokenization Market: Dynamics
16. Global Tokenization Market Share by Organization Size (2021 & 2028)
17. Global Tokenization Market Share by Tokenization Technique (2021 & 2028)
18. Global Tokenization Market Share by Deployment Type (2021 & 2028)
19. Global Tokenization Market Share by Vertical (2021 & 2028)
20. Global Tokenization Market Share by Component (2021 & 2028)
21. Global Tokenization Market Share by Application Area (2021 & 2028)
22. Global Tokenization Market Share by Regions (2021 & 2028)
23. Global Tokenization Market Share by Company (2020)
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