Tokenization Market, By Component (Solution, Service, Professional Services, Consulting, Integration Services, Training and Education, Support and Maintenance, and Managed Services), By Application Area (Payment Security, User Authentication, and Compliance Management), By Deployment Mode (On-Premises and Cloud), By Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), By End-User (Banking, Financial Services, and Insurance, Government, Retail, Healthcare, Telecom and IT, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032

Report Code: PMI78619 | Publish Date: May 2023 | No. of Pages: 178

Global Tokenization Market By Component Overview

Introduction:

[PDF] Tokenization is the process of breaking down a sequence of text into smaller units called tokens. In the context of natural language processing (NLP) and computational linguistics, tokenization is a fundamental step in text preprocessing. Tokenization can be performed using different techniques, depending on the requirements of the task or the language being processed.

There is an increasing demand for secure and effective payment processing as e-commerce, mobile payments, and digital wallets expand in popularity. By replacing it with distinctive tokens, tokenization offers a way to protect sensitive payment information and lower the risk of data breaches. The demand for Tokenization Market solutions is anticipated to rise as digital payment methods continue to gain prominence.

Attributes

Details

Tokenization  Market Value (2022)

US$ 2.74Bn

Tokenization  Market Projected Value (2032)

US$ 18.50Bn

Tokenization  Market CAGR (2022 – 2032)

21.3%

Global Tokenization Market By Component Dynamics

Rising Cloud Adoption

Cloud adoption plays a significant role in the tokenization market, offering several benefits and opportunities for organizations implementing tokenization solutions. Cloud computing provides scalability and flexibility, allowing organizations to easily scale their tokenization infrastructure based on their needs. As the volume of data and transactions increases, cloud-based tokenization solutions can seamlessly accommodate the growing demands, ensuring efficient processing and storage capabilities.  

Rise of digital payments and stringent data protection regulations

The rise of digital payments and stringent data protection regulations, such as GDPR and CCPA, has heightened the demand for secure payment processing solutions. Tokenization provides a way to secure payment data by tokenizing cardholder information, reducing the risk of data breaches and ensuring compliance with industry standards.  

Restrains:

Adopting new technology and processes may be difficult for certain organizations, especially if they are seen as disruptive or difficult to execute. Overcoming resistance to change and educating stakeholders about the benefits of tokenization can be a restraint to Tokenization Market growth.

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Global Tokenization Market By Component Segmentation

Tokenization Market is segmented based on Component, Application Area, Deployment Mode, Organization Size, End-User and Region.

Component Insight

On the basis of Component, Tokenization Market is segmented into Solution, Service, Professional Services, Consulting, Integration Services, Training and Education, Support and Maintenance, and Managed Services. Solution is expected to dominate the target market growth as Tokenization solutions refer to software or systems designed to implement tokenization processes. These solutions enable organizations to replace sensitive data with unique tokens, reducing the risk of data breaches.

Application Area Insights

On the basis of Application Area, Tokenization Market is segmented into Payment Security, User Authentication, and Compliance Management.  Payment Security is expected to dominate the target market growth as tokenization plays a crucial role in enhancing payment security and by tokenizing sensitive payment data such as credit card numbers, organizations can protect customer information from being exposed in the event of a data breach.

Deployment Mode Insights

On the basis of Deployment Mode, Tokenization Market is segmented into On-Premises and Cloud. Cloud is expected to dominate target market growth as Cloud-based tokenization solutions can be accessed from anywhere, providing ease of use and accessibility. They also offload infrastructure management tasks to the cloud provider, allowing organizations to focus on their core business operations.

Organization Size Insights

On the basis of Organization Size, Tokenization Market is segmented into Small and Medium-Sized Enterprises and Large Enterprises. Large Enterprises are expected to dominate target market growth as they typically deal with a higher volume of sensitive data and face complex security challenges. Tokenization solutions are widely used by large enterprises to protect their customer’s payment information secure internal data transfers and comply with industry standards and regulations.

End-User Insights

On the basis of End-User, Tokenization Market is segmented into Banking, Financial Services, and Insurance, Government, Retail, Healthcare, Telecom and IT, and Others. Banking, Financial Services, and Insurance (BFSI) are expected to dominate target market growth as The BFSI sector is one of the primary adopters of tokenization solutions and banks, financial institutions, and insurance companies handle large volumes of sensitive customer data, including payment information, personal identifiers, and financial records.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

On the basis of region the Tokenization Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Tokenization market in the Asia Pacific region has been experiencing significant growth and is expected to continue expanding in the coming years. Tokenization is a process of converting sensitive data, such as payment card information or personal identification numbers, into a unique token that can be used for transactions without exposing the actual data. It provides enhanced security and helps protect sensitive information from potential breaches.

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Report Scope:

Attribute

Details

Base year for estimation

2022

Forecast period

2022 – 2032

Market representation

Revenue in USD Billion & CAGR from 2022 to 2032

Market Segmentation

By Component - Solution, Service, Professional Services, Consulting, Integration Services, Training and Education, Support and Maintenance, and Managed Services

By Application Area - Payment Security, User Authentication, and Compliance Management

By Deployment Mode - On-Premises and Cloud

By Organization Size - Small and Medium-Sized Enterprises and Large Enterprises

By End-User - Banking, Financial Services, and Insurance, Government, Retail, Healthcare, Telecom and IT, and Others

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Tokenization Market report based on Component, Application Area, Deployment Mode, Organization Size, End-User and Region:

Tokenization Market, By Component:

  • Solution
  • Service
  • Professional Services
  • Consulting
  • Integration Services
  • Training and Education
  • Support and Maintenance
  • Managed Services

Tokenization Market, By Application Area:

  • Payment Security
  • User Authentication
  • Compliance Management

Tokenization Market, By Deployment Mode:

  • On-Premises
  • Cloud

Tokenization Market, By Organization Size:

  • Small and Medium-Sized Enterprises
  • Large Enterprises

Tokenization Market, By End-User:

  • Banking
  • Financial Services and Insurance
  • Government
  • Retail
  • Healthcare
  • Telecom and IT
  • Others

Tokenization Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Recent Development:

  • In January 2023, Goldman Sachs launched bank’s new Tokenization Digital Asset Platform “GS DAP”. The Canton blockchain, which supports privacy, and the Daml smart contract language from Digital Asset serve as the foundation for GS DAPTM. Platforms for daml-based tokenization, like GS DAPTM, capture the complete complexity of rights, responsibilities, and cash flows across the course of an asset's existence
  • In May 2023, Bradesco Brazil's second-largest private bank, launched its first tokenized bank credit note. The Central Bank of Brazil's regulatory sandbox was used by the bank to complete the transaction, which cost a total of 10 million Brazilian reals ($1.95 million) and was the first financial market tokenization operation under their supervision, the company said in a statement.
  • In October 2021, Razorpay launches “TokenHQ” which India’s First Multi-network Tokenization Solution in Partnership with MasterCard, RuPay, and Visa. Sensitive cardholder data is transformed into a "token" through the Card-On-File (COF) tokenization process, which results in a string of random integers that, even if compromised, has no real-world significance.
  • In October 2021, National Payments Corporation of India (NPCI) launched NCPI Tokenization system (NTS) to support tokenization of cards as an alternate to storing card details with merchants. The RuPay cards will be supported by the NPCI Tokenization System (NTS) to further improve customer safety and give customers a seamless shopping experience.

Global Tokenization Market By Component Key Players

The key players operating the Tokenization Market includes, Liaison Technologies., Futurex Inc., Paymetric, Inc., TokenEx, LLC, Hewlett Packard Enterprise Development LP, Symantec Corp., Gemalto NV, Fiserv, Inc., First Data Corp., CardConnect Corp.

Global Tokenization Market By Component Company Profile

  • Liaison Technologies.*
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Futurex Inc.
  • Paymetric, Inc.
  • TokenEx, LLC
  • Hewlett Packard Enterprise Development LP
  • Symantec Corp.
  • Gemalto NV
  • Fiserv, Inc.
  • First Data Corp.
  • CardConnect Corp.

 “*” marked represents similar segmentation in other categories in the respective section.

Global Tokenization Market By Component Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for medical carts Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Component
      • Market Snippet, By Application Area
      • Market Snippet, By Deployment Mode
      • Market Snippet, By Organization Size
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restrains
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Tokenization Market, By Component
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
      • Y-o-Y Growth Analysis (%), 2022 – 2032
      • Segment Trends
    • Solution
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Service
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Professional Services
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Consulting
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Integration Services
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Training and Education
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Support and Maintainance
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Managed Services
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
  6. Tokenization Market, By Application Area, 2022 – 2032, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
      • Y-o-Y Growth Analysis (%), 2022 – 2032
      • Segment Trends
    • Payment Security
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • User Authentication
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Compliance Management
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
  7. Tokenization Market, By Deployment Mode, 2022 – 2032, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
      • Y-o-Y Growth Analysis (%), 2022 – 2032
      • Segment Trends
    • On-Premises
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Cloud
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
  8. Tokenization Market, By Organization Size, 2022 – 2032, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
      • Y-o-Y Growth Analysis (%), 2022 – 2032
      • Segment Trends
    • Small and Medium-Sized Enterprises
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Large Enterprises
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
  9. Tokenization Market, By End-User, 2022 – 2032, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
      • Y-o-Y Growth Analysis (%), 2022 – 2032
      • Segment Trends
    • Banking Financial Services and Insurance
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Government
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Retail
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Healthcare
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Telecom
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • IT
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
    • Others
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
  10. Tokenization   Market, By Region, 2022 – 2032, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
      • Y-o-Y Growth Analysis (%), 2022 – 2032
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Component, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Application Area, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Deployment Mode, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Organization Size, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Bn), By Component, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Application Area, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Deployment Mode, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Organization Size, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By Component, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Application Area, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Deployment Mode, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Organization Size, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Bn), By Component, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Application Area, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Deployment Mode, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Organization Size, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Bn), By Component, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Application Area, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Deployment Mode, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Organization Size, 2022 – 2032
      • Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  2. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  3. Company Profiles
  • Liaison Technologies.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Futurex Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Paymetric, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • TokenEx LLC
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Hewlett Packard Enterprise Development LP
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Symantec Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Gemalto NV
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Fiserv, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • First Data Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • CardConnect Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The Tokenization Market is segmented into Pet Type, Function Type, Ingredients and Region.

Tokenization Market is driven by factors like Increasing Pet Population and Ownership and Rising Focus on Pet Health and Wellness.

By region, the Tokenization market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period.

The key players operating the Tokenization Market includes, Liaison Technologies., Futurex Inc., Paymetric, Inc., TokenEx, LLC, Hewlett Packard Enterprise Development LP, Symantec Corp., Gemalto NV, Fiserv, Inc., First Data Corp., CardConnect Corp.

Tokenization Market accounted for US$ 2.74 billion in 2022 and is estimated to be US$ 18.50 billion by 2032 and is anticipated to register a CAGR of 21.3%.