Global Tokenization Market Size To Worth USD 10.2 Billion By 2032 | CAGR of 19.52%

The Global Tokenization Market Size was valued at USD 2.45 Billion in 2022 and the Worldwide Tokenization Market Size is expected to reach USD 10.2 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: Visa, Fiserv, Inc., Entrust Corporation, American Express, Mastercard, Open Text Corporation, TrustCommerce, Thales, TokenEx, Inc, FIS, Others and other key vendors.

New York, United States, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The Global Tokenization Market Size is to Grow from USD 2.45 Billion in 2022 to USD 10.2 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 19.52% during the projected period.

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Tokenization is the process of replacing sensitive data with uniquely identifiable symbols that maintain all the relevant information while maintaining security. This procedure can be used to tokenize sensitive data, including bank transactions, medical records, criminal histories, driver's license details, loan applications, stock purchases, voter registrations, and so forth. The tokenization industry is growing as a result of an increasing need to reduce data fraud. It is also projected that the adoption of digitalized procedures and the digital management of all sensitive data will accelerate growth and expand market share. The increasing amount of data in cloud services is a significant factor contributing to the growing usage of tokenization technology. The quick spread of digital payment options is driving the market. The rising popularity of digital payments comes with a number of difficulties, chief among them security concerns. Tokenization is used by end users in industries including retail, healthcare, banking, and insurance to replace sensitive data with a unique code called a token, protecting against security breaches brought on by the volume of digital payments. One of the biggest obstacles to the widespread application of this technology is the lack of clear laws. The current proposed specifications for security token values are still under development and are likely to undergo major changes in the future. These problems, together with the blockchain's worldwide reach, make it challenging for tokenization to become widely used.

Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Tokenization Market Size, Share, and COVID-19 Impact Analysis, By Component (Solutions, Services, Others), By Application (Payment Security, User Authentication, Compliance Management, Others), By Enterprise Type (Large Enterprises, Small and Medium Enterprises (SMEs)), By End-Users (BFSI, Retail & Consumer Goods, IT & Telecommunications, Healthcare, Energy & Utilities, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."

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The solution segment dominates the market with the highest percentage of revenue in the course of the projected period.
The global tokenization market is segmented into solutions, services, and others. Among these, the solution segment is dominating the market with the largest revenue over the forecast period. The requirement to maintain a consistent customer experience, raise fraud protection levels, and ensure compliance with payment security regulations is growing due to an increase in financial crime. Additionally, it is anticipated that the industry will have favorable growth prospects due to the increased consumer interest in digital payments.

The payment security segment is experiencing a notable increase in CAGR over the forecast period. 
The global tokenization market is segmented into payment security, user authentication, and compliance management. Among these, the payment security segment is witnessing significant CAGR growth over the forecast period. The rise in digital payments has prompted banks and payment application developers to implement this solution in order to safeguard customers' sensitive data. With the increase in QR-code transactions following the outbreak, tokenization allows users to quickly make payments without worrying about the security of their credit card information.

The small & medium enterprises (SMEs) segment is expected to have the greatest percentage of the global tokenization market throughout the projected period.
the global tokenization market is classified into large enterprises, and small & medium enterprises (SMEs). Among these, the small & medium enterprises (SMEs) segment is expected to hold the largest share of the tokenization market during the forecast period. Under Organization Size, it is projected that the small and medium-sized company (SMEs) group will grow at the fastest rate during the projection period. SMEs are mainly employing tokenization products and services to comply with obligations and lower fraud risk.

The BFSI segment accounted for the largest revenue share over the forecast period.
The global tokenization market is segmented into BFSI, retail & consumer goods, IT & telecommunications, healthcare, energy & utilities, and others. Among these, the BFSI segment dominates the market with the largest revenue share over the forecast period. The BFSI industry invests heavily to protect its data and prevent malicious data breaches. In every one of their service offerings, the businesses in this industry deal with incredibly confidential data.

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Europe is anticipated to hold the largest share of the global tokenization market over the predicted timeframe.

Europe has the largest share of the tokenization market in the world because of the enormous volumes of technology and data that are being digitalized. Europe's physical location in the middle of the world, which helps connect worldwide markets, has led to strong investment in all companies, including digital services that use tokenization to protect sensitive data. The European markets are ten times more reliable for tokenization due to their high degree of innovation.

Asia Pacific is one of the regions in the globe with the fastest rates of growth. Over the projected period, the Asia-Pacific market is anticipated to grow at a significant pace of compound annual growth. The rapid adoption of state-of-the-art payment security technologies, extensive internet usage, and rising smartphone penetration are driving the regional market. Furthermore, the proliferation of real-time payment systems, such as peer-to-peer money transfers and mobile payment platforms, is contributing to a rise in fraud in the region.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Tokenization Market include Visa, Fiserv, Inc., Entrust Corporation, American Express, Mastercard, Open Text Corporation, TrustCommerce, Thales, TokenEx, Inc., FIS, and Others.

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Recent Developments

  • In October 2022, American Express and Goldman Sachs collaborated to offer cloud-based payment solutions to big business customers. American Express would offer several payment choices via Goldman Sachs' Transaction Banking (TxB) system platform, simplifying and streamlining B2B payments for big businesses.
  • In July 2022, TokenEx, a company that offers cloud tokenization and payment optimization, announced that it has partnered with Visa to become an expert Visa partner. As part of its collaboration with Visa, TokenEx chose the Visa solution Token ID, enabling clearing houses, banks, merchants, regional payment schemes, and other payment stakeholders like TokenEx. 

Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Tokenization Market based on the below-mentioned segments:

Tokenization Market, Component Analysis

  • Solution
  • Services
  • Others

Tokenization Market, Application Analysis

  • Payment Security
  • User Authentication
  • Compliance Management
  • Others

Tokenization Market, Enterprise Type Analysis

  • Large Enterprises
  • Small & Medium Enterprises (SMEs)

Tokenization Market, End-Users Analysis

  • BFSI
  • Retail & Consumer Goods
  • IT & Telecommunications
  • Healthcare
  • Energy & Utilities
  • Others

Global Tokenization Market, Regional Analysis

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
  • South America
  • Brazil
  • Argentina
  • Rest of South America
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

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