CHICAGO, Jan. 11, 2022 /PRNewswire/ — According to a research report “Tokenization Market with COVID-19 Impact, by Component, Application Area (Payment Security, User Authentication, and Compliance Management), Tokenization Technique, Deployment Mode, Organization Size, Vertical and Region – Global Forecast to 2026″, published by MarketsandMarkets™, the global Tokenization Market size to grow from USD 2.3 billion in 2021 to USD 5.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period.
The Tokenization Market is fuelled by growing need to ensure continuous customer experience and maintain fraud prevention levels due to increasing financial frauds. The increase in online shopping across the globe has led to an increase in fraudulent activities, such as identity theft frauds, merchant and triangulation frauds, affiliate and clean frauds, phishing, pagejacking, and counter attacks. Tokenization helps protect businesses from the negative financial impact of data thefts. Even in case of breaches, with tokenization, valuable personal data is difficult to steal. Hence, tokenization can be helpful in ensuring the continuity of customer experience and maintaining fraud prevention levels.
Browse in-depth TOC on “Tokenization Market”
319 – Tables
59 – Figures
279 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=76652221
By Organization Size, Large Enterprises to hold the larger market size during the forecast period
The Large Enterprises segment of the Tokenization Market is projected to hold the largest market size in 2021. Large Enterprises are the early adopters of tokenization, as they use a huge amount of confidential data of consumers and have many business applications susceptible to cyber-attacks. Due to their large size, these enterprises with different types of IT infrastructure face the difficult task of effectively managing the security for several applications across the enterprise. These organizations prefer to outsource tokenization services to lower their burden of PCI DSS compliance management.
By Vertical, the Retail & eCommerce sub segment to grow at the highest CAGR during the forecast period
Among the Verticals, the Retail & eCommerce sub-segment is expected to grow at the highest CAGR during the forecast period. Retail organizations need to ensure a pleasant check-out experience for their customers. Retail merchants regularly face challenges in managing consumers’ sensitive data related to payment cards as well as complying with regulations. Tokenization solutions address these challenges by replacing the sensitive data with tokens and protecting critical information from traversing through vulnerable networks.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=76652221
By region, North America to account for the largest market size during the forecast period
North America holds a strong position in the global Tokenization Market, due to the presence of most of the top Tokenization vendors such as Fiserv, Visa, Mastercard, and American Express. It is well-connected with advanced infrastructure, which helps tokenization vendors offer quality services to their clients. The region offers the most innovative and fastest services available in the world through its network infrastructure. It has also witnessed the earliest adoption of cloud and mobile technologies, which has been a significant booster for adopting tokenization solutions to improve employee efficiency and productivity.
Key and innovative vendors in Tokenization Market areFiserv (US), Visa (US), Mastercard (US), Micro Focus (UK), American Express (US), Thales (France), Lookout (US), Futurex (US), CardConnect (US), and FIS (US).
Browse Adjacent Markets: Information Security Market Research Reports & Consulting
Database Security Market by Component (Solution and Services), Business function (Marketing, sales, finance, operations), Organization Size (Large Enterprises and SMEs), Deployment Mode (Cloud & On-premises), Vertical, & Region – Global Forecast to 2026
Encryption Software Market by Component (Software and Services), Application (Disk Encryption, File/Folder Encryption, Communication Encryption, Cloud Encryption), Deployment Mode, Enterprise Size, Vertical, and Region – Global Forecast to 2025
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/tokenization-market.asp Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/tokenization.asp