Lewes, Delaware, May 21, 2024 (GLOBE NEWSWIRE) -- The Global Tokenization Market is projected to grow at a CAGR of 19% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2.4 Billion in 2024 and is expected to reach USD 5.7 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Tokenization Market”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Thales e-Security, Inc., Gemalto NV, Symantec Corporation, Fiserv, Inc., 3Delta Systems, Inc., Hewlett Packard Enterprise Development LP, CipherCloud, TokenEx, LLC, Futurex, First Data Corporation |
| SEGMENTS COVERED | By End-user Industry, By Organization Size, By Use Case, By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Tokenization Market Overview
Increasing Need for Secure Transactions: The Tokenization Market is flourishing as a result of the increasing need for secure digital transactions. With the transition of enterprises to the internet realm, safeguarding sensitive data becomes of utmost importance. Tokenization reduces the occurrence of fraud and breaches, hence increasing confidence. This fosters the acceptance and implementation of new ideas and practices in many industries, hence stimulating the expansion of the market and the development of innovative solutions.
Regulatory Compliance: The Tokenization Market is driven by rigorous regulatory restrictions. Adhering to standards such as PCI DSS guarantees the security of data and reduces the likelihood of potential harm. Tokenization solutions are implemented by businesses to prevent penalties and safeguard their reputation, resulting in a rise in market demand and long-term growth.
Rise of Digital Payments: The rapid growth of digital payments drives the expansion of the Tokenization Market. With the increasing preference for online transactions among consumers and organisations, there is a growing demand for safe payment solutions. Tokenization offers a strong and effective solution, leading to the widespread use in various industries and supporting the growth of the market.
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High Implementation Costs: Although the Tokenization Market offers advantages, it encounters obstacles as a result of the substantial expenses associated with its implementation. Small and medium firms may find it economically onerous, which restricts their ability to implement it. The expenses associated with tokenization can discourage enterprises from adopting it, so impeding market expansion and impeding technological progress.
Complex Integration: The integration of tokenization with current systems poses a substantial obstacle due to its complexity. Businesses frequently encounter technological obstacles that necessitate specific expertise, thereby causing delays in the implementation process. The intricate nature of this can impede the widespread acceptance, hence impacting the overall expansion and scalability of the Tokenization Market.
Potential Security Vulnerabilities: Although tokenization improves security, it is not completely immune to vulnerabilities. Concerns such as token mapping and storage can present potential hazards. The existence of these vulnerabilities may create uncertainty for organisations that are contemplating tokenization solutions, limiting the growth of the market and requiring ongoing innovation to effectively address security issues.
Geographic Dominance:
The Tokenization Market is mostly dominated by North America, mainly due to its strong technology infrastructure, strict regulatory standards, and widespread acceptance of digital payments. This supremacy is reinforced by the participation of key industry leaders and the early implementation of cutting-edge security solutions. Furthermore, the implementation of strong cybersecurity protocols and substantial financial expenditures in fintech are key factors that propel industry expansion. Following Europe, the Asia-Pacific area is also experiencing a growing emphasis on data protection and the development of digital economies, which is contributing to the rise of the regional market.
Tokenization Market Key Players Shaping the Future
Major players, including Thales e-Security, Inc., Gemalto NV, Symantec Corporation, Fiserv, Inc., 3Delta Systems, Inc., Hewlett Packard Enterprise Development LP, CipherCloud, TokenEx, LLC, Futurex, First Data Corporation. and more, play a pivotal role in shaping the future of the Tokenization Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Tokenization Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Tokenization Market into End-user Industry, Organization Size, Application, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Tokenization Market, please Contact Verified Market Research®.
- Tokenization Market, by End-user
- Banking, Financial Services, and Insurance (BFSI)
- Retail and eCommerce
- Healthcare and Life Sciences
- Tokenization Market, by Organization Size
- Small and medium-sized businesses (SMEs)
- Large Enterprises
- Tokenization Market, by Application
- Payment Tokenization
- Tokenization for Compliance
- Tokenization for Secure Data Storage
- Tokenization Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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