Dublin, Feb. 11, 2020 (GLOBE NEWSWIRE) -- The "Global Tokenization Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.
The overall tokenization market worldwide was valued at US$ 880.9 million in 2018 and is set to grow with a CAGR of 18.9% during the forecast period. The robust need for protecting crucial data information from disclosure is the major growth driving factor for the tokenization market.
The increase of data breach and cyber-attacks worldwide are the other major drivers for the increased demand for tokenization. On account of the wide application of tokenization in the financial sector, the market is showing huge demand. Therefore, we expect that the tokenization market will show robust growth throughout the forecast period.
Based on the application, the tokenization market is led by BFSI (banking, financial services, and insurance) segment in 2018. The BFSI segment has around 25% of the revenue share in the same year. While payment at various shopping stores, tokenization exempts merchants to keep client's data in their systems. Growing cashless transactions worldwide is the major growth factor for the segment.
According to the World Payments Report (WPR), the cashless transaction volumes are valued at US$ 482.6 billion in 2016 and growing with around 10% annually. Further, for the security of the client's privileged information banks, financial services, and insurance companies are adopting tokenization. As a result, we expect that the BFSI segment will show substantial growth during the forecast period.
Based on geography, North America was the largest region in 2018 for the tokenization market backed by Europe and the Asia Pacific. North America has over 35% value contribution in the same year. North America has the highest share owing to the early adoption and penetration of the tokenization system. In North America tokenization is widely being used in various industries such as BFSI, retail, defense, healthcare, and others. Strict government regulatory compliance and growth in payment security concerns in the region are the other major growth factors. Therefore, we expect that North America will show stagnant growth throughout the forecast period from 2019-2027.
Some of the major companies profiled in the report include 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.
Key Topics Covered
Chapter 1 Preface
Chapter 2 Executive Summary
2.1 Market Snapshot: Global Tokenization Market
2.1.1 Global Tokenization Market, by Product, 2018 (US$ Mn)
2.1.2 Global Tokenization Market, by Application, 2018 (US$ Mn)
2.1.3 Global Tokenization Market, by Geography, 2018 (US$ Mn)
Chapter 3 Market Dynamics
3.1 Introduction
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.2 Market Restraint
3.3 Attractive Investment Proposition, by Geography, 2018
3.4 Market Positioning of Key Tokenization Vendors, 2018
Chapter 4 Global Tokenization Market, by Product
4.1 Overview
4.2 Software
4.3 Hardware
4.4 Services
Chapter 5 Global Tokenization Market, by Application
5.1 Overview
5.2 BFSI
5.3 Consumer Goods & Retail
5.4 Education
5.5 Defense
5.6 Automotive
5.7 IT & Telecom
5.8 Energy & Utilities
5.9 Manufacturing
5.10 Others (Hospitality, Transportation, etc.)
Chapter 6 Global Tokenization Market, by Solution
6.1 Overview
6.2 Payment Security
6.3 Consumer Data & Management
6.4 Compliance
6.5 Encryption
Chapter 7 North America Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
Chapter 8 Europe Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
Chapter 9 Asia Pacific Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
Chapter 10 Rest of the World (RoW) Tokenization Market Analysis, 2017 - 2027 (US$ Mn)
Chapter 11 Company Profiles
11.1 First Data Corporation
11.2 Gemalto
11.3 Fiserv, Inc.
11.4 Micro Focus
11.5 Symantec Corporation
11.6 Thales e-Security, Inc.
11.7 Visa Inc.
11.8 Wex Inc.
11.9 Worldpay Group PLC
11.10 CipherCloud
11.11 Liaison Technologies, Inc.
11.12 Protegrity USA, Inc.
11.13 TokenEx
11.14 Bluefin
11.15 Mastercard Incorporated
11.16 Ingenico
11.17 Discover Financial Services
For more information about this report visit https://www.researchandmarkets.com/r/c49ovv
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