Tokenization Market

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Tokenization Market by Component Application Area, Tokenization Technique, Deployment Mode, Organization Size, Vertical (BFSI, Healthcare, IT and ITes, Government, Retail and eCommerce, Energy and Utilities), and Region - Global Forecast to 2025

FREE BROCHURE FREE SAMPLE REPORT
Report Code: TC 5296 Dec, 2020, by marketsandmarkets.com

The post-COVID 19 global tokenization market size is expected to grow from USD 1.9 billion in 2020 to USD 4.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.5% during the forecast period.

The major factors fueling the tokenization market include increasing need to stay compliant with regulations and growing need to ensure continuous customer experience as well as maintain fraud prevention levels due to increased financial crimes. Moreover, increased alignment of customers towards contactless payments and rising demand for cloud-based tokenization solutions and services would provide lucrative opportunities for tokenization vendors.

Tokenization Market

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COVID 19 IMPACT

After the outbreak of COVID-19, the volume of online payments has surged drastically as people are indoors and relying on online payments for shopping. In Italy, eCommerce transactions rose 81% in the end of February 2020. This 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. As online businesses rely mainly on electronic transactions to charge their customers for products and services, attackers are attracted to payment systems as they contain sensitive and valuable money-related data. Online shopping has become more popular; therefore, payment security has become an important issue for eCommerce businesses. Tokenization helps protect businesses from the negative financial impact of data thefts. Even in the case of breach, with tokenization, valuable personal data is difficult to steal. Though tokenization cannot protect businesses from data breaches, it can reduce financial losses from potential breaches. Hence, tokenization can be helpful in ensuring the continuity of customer experience and maintaining fraud prevention levels.

MARKET DYNAMICS

Driver and opportunity: Increased alignment of customers toward contactless payments due to the COVID-19 outbreak

The outbreak of COVID-19 has put limitations on the use of currency notes due to the chances of spread of COVID-19 through surfaces. This shortcoming has revolutioanised the way online payments were used. Hassle-free payments without any assistance and need to be present physically for paying have fueled the growth of contactless payment systems across the globe. Among contactless payment solutions, mobile is the leading choice of consumers. Cost reduction is one of the main drivers of contactless payment solution adoption. Contactless payments have helped end users as well organizations move away from wire transfer, which is the second-most favorite and exploited medium for cyber attackers. Contactless payments are mostly gaining traction in Europe. According to Gemalto, 90% of the business leaders in Europe have already invested in contactless payment solutions. According to a survey released by Visa, 82% of Taiwanese consumers have used contactless payments. According to the president of MasterCard, MasterCard’s in-store contactless transactions were 61% in the Czech Republic, 41% in Poland, 27% in Hungary, and 27% in Slovakia. According to the Association for Financial Professionals, 66% of the cardholders in Australia have contactless cards that enable them to tap and pay. These statistics underline the fact that customers are getting aligned toward the use of contactless payments, and COVID-19 has fueled the use of contactless payments to a huge extent.

Restraint and challenge: Lack of knowledge and understanding about tokens and ambiguity between encryption and tokenization among end users

Though tokenization is not a new technology in the payment security system, many end users continue using the old payment security system, which is more vulnerable as compared to tokenization. Capital One and the National Association of Purchasing Card Professionals (NAPCP) have reported that organizations have the lack of knowledge about sophisticated and cutting-edge payment technologies. Unlike encryption, tokenization replaces critical information with ‘tokens’ instead of transferring crucial information from credit/debit cards. Tokenization provides more security if security providers are ready to spend significant amounts of money. Organizations, especially SMEs, lack knowledge and understanding about tokenization. In addition to this, budget constraints also restrict SMEs to replace old technologies and deal with payment frauds using traditional security solutions. This problem existed even before COVID-19 and would persist even after the pandemic. With improvements in technologies, attack levels would also increase, creating the need for understanding and absorbing new solutions such as tokenization to deal with new payment fraud attacks.

SMEs segment to grow at a higher CAGR during the forecast period

SMEs are majorly adopting tokenization solutions and services for complying with obligations and risks related to frauds. These SMEs are adopting tokenization solutions for protecting their sensitive data from network vulnerabilities and attacks. One of the prime motives of attackers targeting SMEs is to penetrate through their applications to access customer information, payment details, and other confidential information. Cybercriminals take advantage of poor security among SMEs by using the automation technique to attack thousands of applications at a time. SMEs are increasingly looking at cloud-based tokenization solutions to save money, time, and resources. The financial constraints faced by SMEs are addressed by Tokenization as a Service (TaaS), with the segment rapidly deploying cloud-based tokenization solutions, thus driving the growth of the tokenization market for SMEs.

BFSI vertical to hold the largest market size during the forecast period

The BFSI vertical is the target of cybercriminals, as it deals with money. It shows a large number of financial transactions, which are attractive targets for cybercriminals. Thus, it is always on the lookout for advanced payment security products and services to protect its employees, customers, assets, offices, branches, and operations; as a result, it holds a significant share of the tokenization market by vertical. Tokenization solutions are popular and have a high adoption rate in the BFSI vertical, as they help organizations in the vertical to manage PCI DSS regulatory compliance. Additionally, the vertical frequently introduces new and improved financial products and services to enhance business operations, attracting fraudsters who seek sensitive customer information. With its facilities such as smart banking, internet banking, and mobile banking, the BFSI vertical would have to prioritize payment security.

Tokenization Market by Region

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North America to hold the largest market size during the forecast period

Being a highly regulated region, the presence of regulations such as CCPA, surge in cyberattacks, especially payment frauds across industries, is expected to drive the need for tokenization solutions and services across North America. Changing customer preferences toward the adoption of contactless cards and digital first credit cards are also expected to fuel the growth of tokenization in North America. The other factors fueling the market growth in North America are the growing eCommerce, increasing use of smartphones for making online payments, and accessing various services, including online streaming, online gaming, and other government services.

Government initiatives toward tackling financial frauds and compliance regulations initiated by countries aimed towards enhancing cybersecurity are expected to drive the need for robust tokenization practices in APAC. Other factors that drive the adoption of tokenization solutions are the increased use of smartphones for online transactions and online shopping, and the rapid adoption of online transactions inviting a number of increased cyber threats. This has led to the expansion of customer base, eventually leading to the urgent need to deploy tokenization solutions to protect and strengthen payment processes.

Key market players

Major vendors in the global tokenization market include fiserv, Mastercard, Visa, Micro Focus, American Express, TokenEx and MeaWallet.

Founded in 1984 and headquartered in Wisconsin, US, Fiserv is a global leader in Fintech and payments. Fiserv offers payments solutions, processing services, customer and channel management solutions, risk and compliance solutions, and insights and optimization solutions. Fiserv operates through two business segments: payments and industry products (payments) and financial institution services (financial). The company offers electronic payments, digital channels, card services, biller solutions, output services, investment services, and risk management under its payments segment and offers account processing, item processing, and lending solutions under the financial segment. In June 2019, Fiserv acquired First Data, a US-based leading provider of cutting-edge payment technology as well as tokenization solutions. With this acquisition, Fiserv became one of the world’s largest payments and financial technology providers. Fiserv also offers tokenization through its payment solutions that help organizations protect the sensitive data of their customers. These solutions replace PANs with tokens. They are used in mobile purchases and NFC-enabled purchases. The company has boosted its internal systems and processes, which support tokenized payment transactions, and the existing technologies and standard methodologies. It caters to over 12,000 global customers who are spread across industry verticals, including BFSI, government, healthcare, retail, utilities, and telecommunications. Its clientele is spread across North America and other regions, such as Europe, APAC, MEA, and Latin America.

Scope of the Report

Report Metric

Details

Market size available for years

2014–2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

Value (USD)

Segments covered

Component, Service, Application Area, Tokenization Technique, Deployment Mode, Organization Size, Vertical, and Region

Geographies covered

North America, Europe, APAC, MEA, and Latin America

Companies covered

Fiserv (US), Mastercard (US), Visa (US), Micro Focus (UK), American Express (US) , HelpSystems (US), MeaWallet (Norway), Thales TCT (France), CipherCloud (US), Futurex (US) , TokenEx (US), nCipher(England), VeriFone (US) , Bluefin Payment Systems (US), Marqeta (US), Paragon Payment Solutions (US), IntegraPay (Australia), AsiaPay (China), Liaison Technologies (US), Ingenico Payments (Netherlands), Sygnum (Switzerland), HST (Brazil), cardlink (Greece), Sequent Software(US) and Shift4Payments (US).

This research report categorizes the tokenization market to forecast revenues and analyze trends in each of the following subsegments:

Based on Component:

  • Solutions
  • Services

Based on Services:

  • Professional Services
  • Managed Services

Based on Application Area:

  • Payment Security
  • User Authentication
  • Compliance Management

Based on Tokenization Technique:

  • API-Based
  • Gateway-Based

Based on Deployment Mode:

  • On-premises
  • Cloud

Based on Organization Size:

  • SMEs
  • Large enterprises

Based on Verticals:

  • BFSI
  • Healthcare
  • IT and ITES
  • Government
  • Retail and eCommerce
  • Energy and Utilities
  • Others (Telecom, Travel and Hospitality, Manufacturing, and Media and Entertainment)

Based on Region:

  • North America
    • United States (US)
    • Canada
  • Europe
    • United Kingdom (UK)
    • Germany
    • France
    • Rest of Europe
  • APAC
    • Japan
    • India
    • ANZ
    • Rest of APAC
  • MEA
    • Middle East
    • Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Recent developments

  • In August 2020, Federal Bank chose Fiserv to support the launch of their first independent credit card.
  • In July 2020, Bank of Baroda’s partnered with Fiserv for digital transformation.
  • In March 2020, Fiserv acquired Bypass Mobile

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 45)
    1.1 INTRODUCTION TO COVID-19
    1.2 COVID-19 HEALTH ASSESSMENT
        FIGURE 1 COVID-19: THE GLOBAL PROPAGATION
        FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES
    1.3 COVID-19 ECONOMIC ASSESSMENT
        FIGURE 3 REVISED GROSS DOMESTIC PRODUCT FORECAST FOR SELECT G20 COUNTRIES IN 2020
           1.3.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
                 FIGURE 4 CRITERIA IMPACTING THE GLOBAL ECONOMY
                 FIGURE 5 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
    1.4 OBJECTIVES OF THE STUDY
    1.5 MARKET DEFINITION
           1.5.1 INCLUSIONS AND EXCLUSIONS
    1.6 MARKET SCOPE
           1.6.1 MARKET SEGMENTATION
           1.6.2 REGIONS COVERED
           1.6.3 YEARS CONSIDERED FOR THE STUDY
    1.7 CURRENCY CONSIDERED
        TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2014–2019
    1.8 STAKEHOLDERS
    1.9 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 54)
    2.1 RESEARCH DATA
        FIGURE 6 TOKENIZATION MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakup of primary profiles
                    2.1.2.2 Key industry insights
    2.2 MARKET BREAKUP AND DATA TRIANGULATION
    2.3 MARKET SIZE ESTIMATION
        FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY, APPROACH 1 (SUPPLY SIDE): REVENUE OF SOLUTIONS AND SERVICES OF TOKENIZATION MARKET
        FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 1— BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF ALL SOLUTIONS AND SERVICES OF TOKENIZATION MARKET
    2.4 MARKET FORECAST
        FIGURE 9 FACTOR ANALYSIS
    2.5 RESEARCH ASSUMPTIONS
    2.6 LIMITATIONS OF THE STUDY

3 EXECUTIVE SUMMARY (Page No. - 63)
  FIGURE 10 GLOBAL TOKENIZATION MARKET TO WITNESS SIGNIFICANT GROWTH FROM 2020 TO 2025
  FIGURE 11 NORTH AMERICA TO ACCOUNT FOR HIGHEST MARKET SHARE IN 2020

4 PREMIUM INSIGHTS (Page No. - 66)
    4.1 ATTRACTIVE OPPORTUNITIES IN TOKENIZATION MARKET
        FIGURE 12 GROWING ALIGNMENT OF CUSTOMERS TOWARD CONTACTLESS PAYMENTS AND RISING NEED TO MAINTAIN FRAUD LEVELS DUE TO INCREASING FINANCIAL FRAUDS TO FUEL TOKENIZATION MARKET GROWTH
    4.2 TOKENIZATION MARKET, BY COMPONENT, 2020
        FIGURE 13 SOLUTIONS SEGMENT TO HOLD LARGER MARKET SIZE DURING FORECAST PERIOD
    4.3 TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2020
        FIGURE 14 CLOUD SEGMENT TO HOLD HIGHER MARKET SHARE DURING FORECAST PERIOD
    4.4 TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2020
        FIGURE 15 API-BASED SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
    4.5 TOKENIZATION MARKET, BY APPLICATION AREA, 2020
        FIGURE 16 PAYMENT SECURITY SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    4.6 TOKENIZATION MARKET, MARKET SHARE OF TOP THREE VERTICALS AND REGIONS, 2020
        FIGURE 17 BANKING, FINANCIAL SERVICES, AND INSURANCE VERTICAL AND NORTH AMERICA TO HOLD HIGHEST MARKET SHARES IN 2020
    4.7 TOKENIZATION MARKET, TOP THREE VERTICALS
        FIGURE 18 RETAIL AND ECOMMERCE VERTICAL TO HOLD HIGHEST MARKET SHARE IN 2020
    4.8 MARKET INVESTMENT SCENARIO
        FIGURE 19 ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENTS IN NEXT FIVE YEARS

5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 70)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
    5.3 COVID-19 PANDEMIC-DRIVEN MARKET DYNAMICS  AND FACTOR ANALYSIS
           5.3.1 DRIVERS AND OPPORTUNITIES
           5.3.2 RESTRAINTS AND CHALLENGES
           5.3.3 CUMULATIVE GROWTH ANALYSIS
    5.4 REGULATORY LANDSCAPE
           5.4.1 GENERAL DATA PROTECTION REGULATION
           5.4.2 PAYMENT CARD INDUSTRY-DATA SECURITY STANDARD
           5.4.3 HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT
           5.4.4 GRAMM-LEACH-BLILEY ACT
           5.4.5 PAYMENT SERVICES DIRECTIVE 2
           5.4.6 SARBANES-OXLEY ACT
           5.4.7 SOC2
    5.5 USE CASES
           5.5.1 USE CASE: SCENARIO 1
           5.5.2 USE CASE: SCENARIO 2
           5.5.3 USE CASE: SCENARIO 3
    5.6 TOKENIZATION VS. ENCRYPTION
        TABLE 2 TOKENIZATION VS. ENCRYPTION
    5.7 ECOSYSTEM
    5.8 TECHNOLOGY ANALYSIS
        FIGURE 20 TOKENIZATION ARCHITECTURE
    5.9 PRICING MODEL

6 TOKENIZATION MARKET, BY COMPONENT (Page No. - 80)
    6.1 INTRODUCTION
        FIGURE 21 SOLUTIONS SEGMENT TO HOLD LARGER MARKET SIZE DURING FORECAST PERIOD
           6.1.1 MARKET ESTIMATES AND FORECAST BY COMPONENT 2014-2025
                 TABLE 3 TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                 TABLE 4 TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
    6.2 SOLUTIONS
           6.2.1 SOLUTIONS: TOKENIZATION MARKET DRIVERS
           6.2.2 SOLUTIONS: COVID-19 IMPACT
           6.2.3 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 5 SOLUTIONS: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                 TABLE 6 SOLUTIONS: TOKENIZATION MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)
    6.3 SERVICES
           6.3.1 SERVICES: TOKENIZATION MARKET DRIVERS
           6.3.2 SERVICES: COVID-19 IMPACT
           6.3.3 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 7 SERVICES: TOKENIZATION MARKET SIZE, BY REGION,  2014–2019 (USD MILLION)
                 TABLE 8 SERVICES: TOKENIZATION MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)
           6.3.4 PROFESSIONAL SERVICES
                    6.3.4.1 professional services: Tokenization market drivers
                    6.3.4.2 Professional services: COVID-19 impact
           6.3.5 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 9 PROFESSIONAL SERVICES MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                 TABLE 10 PROFESSIONAL SERVICES MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)
           6.3.6 MANAGED SERVICES
                    6.3.6.1 Managed services: Tokenization market drivers
                    6.3.6.2 Managed services: COVID-19 impact
           6.3.7 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 11 MANAGED SERVICES MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                 TABLE 12 MANAGED SERVICES MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)

7 TOKENIZATION MARKET, BY APPLICATION AREA (Page No. - 87)
    7.1 INTRODUCTION
           7.1.1 MARKET ESTIMATES AND FORECAST BY APPLICATION AREA,  2014-2025
                 TABLE 13 TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                 TABLE 14 TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2019–2025 (USD MILLION)
    7.2 PAYMENT SECURITY
           7.2.1 PAYMENT SECURITY: TOKENIZATION MARKET DRIVERS
           7.2.2 PAYMENT SECURITY: COVID-19 IMPACT
           7.2.3 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 15 PAYMENT SECURITY: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                 TABLE 16 PAYMENT SECURITY: TOKENIZATION MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)
    7.3 USER AUTHENTICATION
           7.3.1 USER AUTHENTICATION: TOKENIZATION MARKET DRIVERS
           7.3.2 USER AUTHENTICATION: COVID-19 IMPACT
           7.3.3 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 17 USER AUTHENTICATION: TOKENIZATION MARKET SIZE, BY REGION,  2014–2019 (USD MILLION)
                 TABLE 18 USER AUTHENTICATION: TOKENIZATION MARKET SIZE, BY REGION,   2019–2025 (USD MILLION)
    7.4 COMPLIANCE MANAGEMENT
           7.4.1 COMPLIANCE MANAGEMENT: TOKENIZATION MARKET DRIVERS
           7.4.2 COMPLIANCE MANAGEMENT: COVID-19 IMPACT
           7.4.3 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 19 COMPLIANCE MANAGEMENT: TOKENIZATION MARKET SIZE, BY REGION,  2014–2019 (USD MILLION)
                 TABLE 20 COMPLIANCE MANAGEMENT: TOKENIZATION MARKET SIZE, BY REGION,  2019–2025 (USD MILLION)

8 TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE (Page No. - 93)
    8.1 INTRODUCTION
           8.1.1 MARKET ESTIMATES AND FORECAST BY TOKENIZATION TECHNIQUE, 2014-2025
                 TABLE 21 TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                 TABLE 22 TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2019–2025 (USD MILLION)
    8.2 APPLICATION PROGRAMMING INTERFACE-BASED
           8.2.1 APPLICATION PROGRAMMING INTERFACE-BASED: TOKENIZATION MARKET DRIVERS
           8.2.2 APPLICATION PROGRAMMING INTERFACE-BASED: COVID-19 IMPACT
           8.2.3 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 23 APPLICATION PROGRAMMING INTERFACE-BASED: TOKENIZATION MARKET SIZE,  BY REGION, 2014–2019 (USD MILLION)
                 TABLE 24 APPLICATION PROGRAMMING INTERFACE-BASED: TOKENIZATION MARKET SIZE,  BY REGION, 2019–2025 (USD MILLION)
    8.3 GATEWAY-BASED
           8.3.1 GATEWAY-BASED: TOKENIZATION MARKET DRIVERS
           8.3.2 GATEWAY-BASED: COVID-19 IMPACT
           8.3.3 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 25 GATEWAY-BASED: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                 TABLE 26 GATEWAY-BASED: TOKENIZATION MARKET SIZE, BY REGION,  2019–2025 (USD MILLION)

9 TOKENIZATION MARKET, BY DEPLOYMENT MODE (Page No. - 98)
    9.1 INTRODUCTION
           9.1.1 MARKET ESTIMATES AND FORECAST BY DEPLOYMENT MODE,  2014-2025
                 TABLE 27 TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2014–2019 (USD MILLION)
                 TABLE 28 TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)
    9.2 ON-PREMISES
           9.2.1 ON-PREMISES: TOKENIZATION MARKET DRIVERS
           9.2.2 ON-PREMISES: COVID-19 IMPACT
           9.2.3 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 29 ON-PREMISES: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                 TABLE 30 ON-PREMISES: TOKENIZATION MARKET SIZE, BY REGION,  2019–2025 (USD MILLION)
    9.3 CLOUD
           9.3.1 CLOUD: TOKENIZATION MARKET DRIVERS
           9.3.2 CLOUD: COVID-19 IMPACT
           9.3.3 MARKET ESTIMATES AND FORECAST BY REGION 2014-2025
                 TABLE 31 CLOUD: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                 TABLE 32 CLOUD: TOKENIZATION MARKET SIZE, BY REGION,  2019–2025 (USD MILLION)

10 TOKENIZATION MARKET, BY ORGANIZATION SIZE (Page No. - 103)
     10.1 INTRODUCTION
          FIGURE 22 LARGE ENTERPRISES SEGMENT TO HOLD LARGER MARKET SIZE DURING FORECAST PERIOD
             10.1.1 MARKET ESTIMATES AND FORECAST, BY ORGANIZATION SIZE,  2014-2025
                    TABLE 33 TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2014–2019 (USD MILLION)
                    TABLE 34 TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
     10.2 SMALL AND MEDIUM-SIZED ENTERPRISES
             10.2.1 SMALL AND MEDIUM-SIZED ENTERPRISES: TOKENIZATION MARKET DRIVERS
             10.2.2 SMALL AND MEDIUM-SIZED ENTERPRISES: COVID-19 IMPACT
             10.2.3 MARKET ESTIMATES AND FORECAST, BY REGION, 2014-2025
                    TABLE 35 SMALL AND MEDIUM-SIZED ENTERPRISES: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                    TABLE 36 SMALL AND MEDIUM-SIZED ENTERPRISES: TOKENIZATION MARKET SIZE,  BY REGION, 2019–2025 (USD MILLION)
     10.3 LARGE ENTERPRISES
             10.3.1 LARGE ENTERPRISES: TOKENIZATION MARKET DRIVERS
             10.3.2 LARGE ENTERPRISES: COVID-19 IMPACT
             10.3.3 MARKET ESTIMATES AND FORECAST, BY REGION, 2014-2025
                    TABLE 37 LARGE ENTERPRISES: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                    TABLE 38 LARGE ENTERPRISES: TOKENIZATION MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)

11 TOKENIZATION MARKET, BY VERTICAL (Page No. - 108)
     11.1 INTRODUCTION
          FIGURE 23 RETAIL AND ECOMMERCE VERTICAL TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD
             11.1.1 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2014-2025
                    TABLE 39 TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                    TABLE 40 TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
     11.2 BANKING, FINANCIAL SERVICES, AND INSURANCE
             11.2.1 BANKING, FINANCIAL SERVICES, AND INSURANCE: TOKENIZATION MARKET DRIVERS
             11.2.2 BANKING, FINANCIAL SERVICES, AND INSURANCE: COVID-19 IMPACT
             11.2.3 MARKET ESTIMATES AND FORECAST, BY REGION, 2014-2025
                    TABLE 41 BANKING, FINANCIAL SERVICES, AND INSURANCE: TOKENIZATION MARKET SIZE,  BY REGION, 2014–2019 (USD MILLION)
                    TABLE 42 BANKING, FINANCIAL SERVICES, AND INSURANCE: TOKENIZATION MARKET SIZE,  BY REGION, 2019–2025 (USD MILLION)
     11.3 HEALTHCARE
             11.3.1 HEALTHCARE: TOKENIZATION MARKET DRIVERS
             11.3.2 HEALTHCARE: COVID-19 IMPACT
             11.3.3 MARKET ESTIMATES AND FORECAST, BY REGION, 2014-2025
                    TABLE 43 HEALTHCARE: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                    TABLE 44 HEALTHCARE: TOKENIZATION MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)
     11.4 INFORMATION TECHNOLOGY AND INFORMATION TECHNOLOGY- ENABLED SERVICES
             11.4.1 INFORMATION TECHNOLOGY AND INFORMATION TECHNOLOGY-ENABLED SERVICES: TOKENIZATION MARKET DRIVERS
             11.4.2 INFORMATION TECHNOLOGY AND INFORMATION TECHNOLOGY-ENABLED SERVICES: COVID-19 IMPACT
             11.4.3 MARKET ESTIMATES AND FORECAST, BY REGION, 2014-2025
                    TABLE 45 INFORMATION TECHNOLOGY AND INFORMATION TECHNOLOGY-ENABLED SERVICES: TOKENIZATION MARKET SIZE, BY REGION,  2014–2019 (USD MILLION)
                    TABLE 46 INFORMATION TECHNOLOGY AND INFORMATION TECHNOLOGY-ENABLED SERVICES: TOKENIZATION MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)
     11.5 GOVERNMENT
             11.5.1 GOVERNMENT: TOKENIZATION MARKET DRIVERS
             11.5.2 GOVERNMENT: COVID-19 IMPACT
             11.5.3 MARKET ESTIMATES AND FORECAST, BY REGION, 2014-2025
                    TABLE 47 GOVERNMENT: TOKENIZATION MARKET SIZE, BY REGION,  2014–2019 (USD MILLION)
                    TABLE 48 GOVERNMENT: TOKENIZATION MARKET SIZE, BY REGION,  2019–2025 (USD MILLION)
     11.6 RETAIL AND ECOMMERCE
             11.6.1 RETAIL AND ECOMMERCE: TOKENIZATION MARKET DRIVERS
             11.6.2 RETAIL AND ECOMMERCE: COVID-19 IMPACT
             11.6.3 MARKET ESTIMATES AND FORECAST, BY REGION, 2014-2025
                    TABLE 49 RETAIL AND ECOMMERCE: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                    TABLE 50 RETAIL AND ECOMMERCE: TOKENIZATION MARKET SIZE, BY REGION,  2019–2025 (USD MILLION)
     11.7 ENERGY AND UTILITIES
             11.7.1 ENERGY AND UTILITIES: TOKENIZATION MARKET DRIVERS
             11.7.2 ENERGY AND UTILITIES: COVID-19 IMPACT
             11.7.3 MARKET ESTIMATES AND FORECAST, BY REGION, 2014-2025
                    TABLE 51 ENERGY AND UTILITIES: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                    TABLE 52 ENERGY AND UTILITIES: TOKENIZATION MARKET SIZE, BY REGION,  2019–2025 (USD MILLION)
     11.8 OTHERS
             11.8.1 MARKET ESTIMATES AND FORECAST, BY REGION, 2014-2025
                    TABLE 53 OTHERS: TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
                    TABLE 54 OTHERS: TOKENIZATION MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)

12 TOKENIZATION MARKET, BY REGION (Page No. - 121)
     12.1 INTRODUCTION
          FIGURE 24 ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 55 TOKENIZATION MARKET SIZE, BY REGION, 2014–2019 (USD MILLION)
          TABLE 56 TOKENIZATION MARKET SIZE, BY REGION, 2019–2025 (USD MILLION)
     12.2 NORTH AMERICA
             12.2.1 NORTH AMERICA: TOKENIZATION MARKET DRIVERS
             12.2.2 NORTH AMERICA: COVID-19 IMPACT
             12.2.3 NORTH AMERICA: REGULATIONS
                    FIGURE 25 NORTH AMERICA: MARKET SNAPSHOT
                    TABLE 57 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY COMPONENT,  2014–2019 (USD MILLION)
                    TABLE 58 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY COMPONENT,  2019–2025 (USD MILLION)
                    TABLE 59 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                    TABLE 60 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                    TABLE 61 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2014–2019 (USD MILLION)
                    TABLE 62 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2019–2025 (USD MILLION)
                    TABLE 63 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                    TABLE 64 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                    TABLE 65 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                    TABLE 66 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                    TABLE 67 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                    TABLE 68 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                    TABLE 69 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                    TABLE 70 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY VERTICAL,  2019–2025 (USD MILLION)
                    TABLE 71 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY COUNTRY,   2014–2019 (USD MILLION)
                    TABLE 72 NORTH AMERICA: TOKENIZATION MARKET SIZE, BY COUNTRY,   2019–2025 (USD MILLION)
             12.2.4 UNITED STATES
                    TABLE 73 UNITED STATES: TOKENIZATION MARKET SIZE, BY COMPONENT,   2014–2019 (USD MILLION)
                    TABLE 74 UNITED STATES: TOKENIZATION MARKET SIZE, BY COMPONENT,  2019–2025 (USD MILLION)
                    TABLE 75 UNITED STATES: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                    TABLE 76 UNITED STATES: TOKENIZATION MARKET SIZE, BY SERVICE,  2019–2025 (USD MILLION)
                    TABLE 77 UNITED STATES: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2014–2019 (USD MILLION)
                    TABLE 78 UNITED STATES: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2019–2025 (USD MILLION)
                    TABLE 79 UNITED STATES: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                    TABLE 80 UNITED STATES: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                    TABLE 81 UNITED STATES: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                    TABLE 82 UNITED STATES: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                    TABLE 83 UNITED STATES: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                    TABLE 84 UNITED STATES: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                    TABLE 85 UNITED STATES: TOKENIZATION MARKET SIZE, BY VERTICAL,  2014–2019 (USD MILLION)
                    TABLE 86 UNITED STATES: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
             12.2.5 CANADA
                    TABLE 87 CANADA: TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                    TABLE 88 CANADA: TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
                    TABLE 89 CANADA: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                    TABLE 90 CANADA: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                    TABLE 91 CANADA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                    TABLE 92 CANADA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2019–2025 (USD MILLION)
                    TABLE 93 CANADA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                    TABLE 94 CANADA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                    TABLE 95 CANADA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                    TABLE 96 CANADA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                    TABLE 97 CANADA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2014–2019 (USD MILLION)
                    TABLE 98 CANADA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                    TABLE 99 CANADA: TOKENIZATION MARKET SIZE, BY VERTICAL,  2014–2019 (USD MILLION)
                    TABLE 100 CANADA: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
     12.3 EUROPE
             12.3.1 EUROPE: TOKENIZATION MARKET DRIVERS
             12.3.2 EUROPE: COVID-19 IMPACT
             12.3.3 EUROPE: REGULATIONS
                    TABLE 101 EUROPE: TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                    TABLE 102 EUROPE: TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
                    TABLE 103 EUROPE: TOKENIZATION MARKET SIZE, BY SERVICE,  2014–2019 (USD MILLION)
                    TABLE 104 EUROPE: TOKENIZATION MARKET SIZE, BY SERVICE,  2019–2025 (USD MILLION)
                    TABLE 105 EUROPE: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                    TABLE 106 EUROPE: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2019–2025 (USD MILLION)
                    TABLE 107 EUROPE: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                    TABLE 108 EUROPE: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                    TABLE 109 EUROPE: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                    TABLE 110 EUROPE: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)
                    TABLE 111 EUROPE: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                    TABLE 112 EUROPE: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,   2019–2025 (USD MILLION)
                    TABLE 113 EUROPE: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                    TABLE 114 EUROPE: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                    TABLE 115 EUROPE: TOKENIZATION MARKET SIZE, BY COUNTRY, 2014–2019 (USD MILLION)
                    TABLE 116 EUROPE: TOKENIZATION MARKET SIZE, BY COUNTRY,  2019–2025 (USD MILLION)
                        12.3.3.1 United Kingdom
                                 TABLE 117 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY COMPONENT,  2014–2019 (USD MILLION)
                                 TABLE 118 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
                                 TABLE 119 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY SERVICE,  2014–2019 (USD MILLION)
                                 TABLE 120 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY SERVICE,  2019–2025 (USD MILLION)
                                 TABLE 121 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2014–2019 (USD MILLION)
                                 TABLE 122 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2019–2025 (USD MILLION)
                                 TABLE 123 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                                 TABLE 124 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                                 TABLE 125 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                                 TABLE 126 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                                 TABLE 127 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                                 TABLE 128 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                                 TABLE 129 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                                 TABLE 130 UNITED KINGDOM: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                        12.3.3.2 Germany
                                 TABLE 131 GERMANY: TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                                 TABLE 132 GERMANY: TOKENIZATION MARKET SIZE, BY COMPONENT,  2019–2025 (USD MILLION)
                                 TABLE 133 GERMANY: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                                 TABLE 134 GERMANY: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                                 TABLE 135 GERMANY: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                                 TABLE 136 GERMANY: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2019–2025 (USD MILLION)
                                 TABLE 137 GERMANY: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                                 TABLE 138 GERMANY: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                                 TABLE 139 GERMANY: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                                 TABLE 140 GERMANY: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                                 TABLE 141 GERMANY: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2014–2019 (USD MILLION)
                                 TABLE 142 GERMANY: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                                 TABLE 143 GERMANY: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                                 TABLE 144 GERMANY: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                        12.3.3.3 France
                                 TABLE 145 FRANCE: TOKENIZATION MARKET SIZE, BY COMPONENT,  2014–2019 (USD MILLION)
                                 TABLE 146 FRANCE: TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
                                 TABLE 147 FRANCE: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                                 TABLE 148 FRANCE: TOKENIZATION MARKET SIZE, BY SERVICE,  2019–2025 (USD MILLION)
                                 TABLE 149 FRANCE: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                                 TABLE 150 FRANCE: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,   2019–2025 (USD MILLION)
                                 TABLE 151 FRANCE: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                                 TABLE 152 FRANCE: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                                 TABLE 153 FRANCE: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                                 TABLE 154 FRANCE: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)
                                 TABLE 155 FRANCE: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                                 TABLE 156 FRANCE: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2019–2025 (USD MILLION)
                                 TABLE 157 FRANCE: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                                 TABLE 158 FRANCE: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                        12.3.3.4 Rest of Europe
                                 TABLE 159 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                                 TABLE 160 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY COMPONENT,  2019–2025 (USD MILLION)
                                 TABLE 161 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY SERVICE,  2014–2019 (USD MILLION)
                                 TABLE 162 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY SERVICE,  2019–2025 (USD MILLION)
                                 TABLE 163 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2014–2019 (USD MILLION)
                                 TABLE 164 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2019–2025 (USD MILLION)
                                 TABLE 165 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                                 TABLE 166 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                                 TABLE 167 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                                 TABLE 168 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                                 TABLE 169 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                                 TABLE 170 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                                 TABLE 171 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY VERTICAL,   2014–2019 (USD MILLION)
                                 TABLE 172 REST OF EUROPE: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
     12.4 ASIA PACIFIC
             12.4.1 ASIA PACIFIC: TOKENIZATION MARKET DRIVERS
             12.4.2 ASIA PACIFIC: COVID-19 IMPACT
             12.4.3 ASIA PACIFIC: REGULATIONS
                    FIGURE 26 ASIA PACIFIC: MARKET SNAPSHOT
                    TABLE 173 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                    TABLE 174 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
                    TABLE 175 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                    TABLE 176 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                    TABLE 177 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                    TABLE 178 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2019–2025 (USD MILLION)
                    TABLE 179 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                    TABLE 180 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                    TABLE 181 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                    TABLE 182 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)
                    TABLE 183 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2014–2019 (USD MILLION)
                    TABLE 184 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2019–2025 (USD MILLION)
                    TABLE 185 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                    TABLE 186 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                    TABLE 187 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY COUNTRY, 2014–2019 (USD MILLION)
                    TABLE 188 ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY COUNTRY, 2019–2025 (USD MILLION)
                        12.4.3.1 Japan
                                 TABLE 189 JAPAN: TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                                 TABLE 190 JAPAN: TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
                                 TABLE 191 JAPAN: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                                 TABLE 192 JAPAN: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                                 TABLE 193 JAPAN: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2014–2019 (USD MILLION)
                                 TABLE 194 JAPAN: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2019–2025 (USD MILLION)
                                 TABLE 195 JAPAN: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                                 TABLE 196 JAPAN: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2019–2025 (USD MILLION)
                                 TABLE 197 JAPAN: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                                 TABLE 198 JAPAN: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)
                                 TABLE 199 JAPAN: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2014–2019 (USD MILLION)
                                 TABLE 200 JAPAN: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                                 TABLE 201 JAPAN: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                                 TABLE 202 JAPAN: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                        12.4.3.2 India
                                 TABLE 203 INDIA: TOKENIZATION MARKET SIZE, BY COMPONENT,  2014–2019 (USD MILLION)
                                 TABLE 204 INDIA: TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
                                 TABLE 205 INDIA: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                                 TABLE 206 INDIA: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                                 TABLE 207 INDIA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2014–2019 (USD MILLION)
                                 TABLE 208 INDIA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2019–2025 (USD MILLION)
                                 TABLE 209 INDIA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2014–2019 (USD MILLION)
                                 TABLE 210 INDIA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2019–2025 (USD MILLION)
                                 TABLE 211 INDIA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2014–2019 (USD MILLION)
                                 TABLE 212 INDIA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)
                                 TABLE 213 INDIA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2014–2019 (USD MILLION)
                                 TABLE 214 INDIA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2019–2025 (USD MILLION)
                                 TABLE 215 INDIA: TOKENIZATION MARKET SIZE, BY VERTICAL,  2014–2019 (USD MILLION)
                                 TABLE 216 INDIA: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                        12.4.3.3 Australia and New Zealand
                                 TABLE 217 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY COMPONENT,  2014–2019 (USD MILLION)
                                 TABLE 218 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY COMPONENT,  2019–2025 (USD MILLION)
                                 TABLE 219 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY SERVICE,  2014–2019 (USD MILLION)
                                 TABLE 220 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY SERVICE,  2019–2025 (USD MILLION)
                                 TABLE 221 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                                 TABLE 222 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE,  BY APPLICATION AREA, 2019–2025 (USD MILLION)
                                 TABLE 223 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE,  BY TOKENIZATION TECHNIQUE, 2014–2019 (USD MILLION)
                                 TABLE 224 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2019–2025 (USD MILLION)
                                 TABLE 225 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE,  BY DEPLOYMENT MODE, 2014–2019 (USD MILLION)
                                 TABLE 226 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)
                                 TABLE 227 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2014–2019 (USD MILLION)
                                 TABLE 228 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2019–2025 (USD MILLION)
                                 TABLE 229 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY VERTICAL,  2014–2019 (USD MILLION)
                                 TABLE 230 AUSTRALIA AND NEW ZEALAND: TOKENIZATION MARKET SIZE, BY VERTICAL,  2019–2025 (USD MILLION)
                        12.4.3.4 Rest of Asia Pacific
                                 TABLE 231 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY COMPONENT,  2014–2019 (USD MILLION)
                                 TABLE 232 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY COMPONENT,  2019–2025 (USD MILLION)
                                 TABLE 233 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                                 TABLE 234 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                                 TABLE 235 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2014–2019 (USD MILLION)
                                 TABLE 236 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2019–2025 (USD MILLION)
                                 TABLE 237 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2014–2019 (USD MILLION)
                                 TABLE 238 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2019–2025 (USD MILLION)
                                 TABLE 239 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                                 TABLE 240 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                                 TABLE 241 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                                 TABLE 242 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                                 TABLE 243 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                                 TABLE 244 REST OF ASIA PACIFIC: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
     12.5 MIDDLE EAST AND AFRICA
             12.5.1 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET DRIVERS
             12.5.2 MIDDLE EAST AND AFRICA: COVID-19 IMPACT
             12.5.3 MIDDLE EAST AND AFRICA: REGULATIONS
                    TABLE 245 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY COMPONENT,  2014–2019 (USD MILLION)
                    TABLE 246 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY COMPONENT,  2019–2025 (USD MILLION)
                    TABLE 247 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY SERVICE,  2014–2019 (USD MILLION)
                    TABLE 248 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY SERVICE,  2019–2025 (USD MILLION)
                    TABLE 249 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2014–2019 (USD MILLION)
                    TABLE 250 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2019–2025 (USD MILLION)
                    TABLE 251 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2014–2019 (USD MILLION)
                    TABLE 252 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2019–2025 (USD MILLION)
                    TABLE 253 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                    TABLE 254 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                    TABLE 255 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                    TABLE 256 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                    TABLE 257 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY VERTICAL,  2014–2019 (USD MILLION)
                    TABLE 258 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY VERTICAL,  2019–2025 (USD MILLION)
                    TABLE 259 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY SUB-REGION,  2014–2019 (USD MILLION)
                    TABLE 260 MIDDLE EAST AND AFRICA: TOKENIZATION MARKET SIZE, BY SUB-REGION,  2019–2025 (USD MILLION)
                        12.5.3.1 Middle East
                                 TABLE 261 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY COMPONENT,  2014–2019 (USD MILLION)
                                 TABLE 262 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
                                 TABLE 263 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY SERVICE,  2014–2019 (USD MILLION)
                                 TABLE 264 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY SERVICE,  2019–2025 (USD MILLION)
                                 TABLE 265 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                                 TABLE 266 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2019–2025 (USD MILLION)
                                 TABLE 267 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                                 TABLE 268 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                                 TABLE 269 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2014–2019 (USD MILLION)
                                 TABLE 270 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)
                                 TABLE 271 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2014–2019 (USD MILLION)
                                 TABLE 272 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                                 TABLE 273 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                                 TABLE 274 MIDDLE EAST: TOKENIZATION MARKET SIZE, BY VERTICAL,  2019–2025 (USD MILLION)
                        12.5.3.2 Africa
                                 TABLE 275 AFRICA: TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                                 TABLE 276 AFRICA: TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
                                 TABLE 277 AFRICA: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                                 TABLE 278 AFRICA: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                                 TABLE 279 AFRICA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                                 TABLE 280 AFRICA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2019–2025 (USD MILLION)
                                 TABLE 281 AFRICA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,   2014–2019 (USD MILLION)
                                 TABLE 282 AFRICA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2019–2025 (USD MILLION)
                                 TABLE 283 AFRICA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2014–2019 (USD MILLION)
                                 TABLE 284 AFRICA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)
                                 TABLE 285 AFRICA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2014–2019 (USD MILLION)
                                 TABLE 286 AFRICA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                                 TABLE 287 AFRICA: TOKENIZATION MARKET SIZE, BY VERTICAL,  2014–2019 (USD MILLION)
                                 TABLE 288 AFRICA: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
     12.6 LATIN AMERICA
             12.6.1 LATIN AMERICA: TOKENIZATION MARKET DRIVERS
             12.6.2 LATIN AMERICA: COVID-19 IMPACT
             12.6.3 LATIN AMERICA: REGULATIONS
                    TABLE 289 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                    TABLE 290 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY COMPONENT,  2019–2025 (USD MILLION)
                    TABLE 291 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                    TABLE 292 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                    TABLE 293 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2014–2019 (USD MILLION)
                    TABLE 294 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2019–2025 (USD MILLION)
                    TABLE 295 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                    TABLE 296 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                    TABLE 297 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                    TABLE 298 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                    TABLE 299 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                    TABLE 300 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                    TABLE 301 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                    TABLE 302 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                    TABLE 303 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY COUNTRY, 2014–2019 (USD MILLION)
                    TABLE 304 LATIN AMERICA: TOKENIZATION MARKET SIZE, BY COUNTRY, 2019–2025 (USD MILLION)
                        12.6.3.1 Brazil
                                 TABLE 305 BRAZIL: TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                                 TABLE 306 BRAZIL: TOKENIZATION MARKET SIZE, BY COMPONENT,  2019–2025 (USD MILLION)
                                 TABLE 307 BRAZIL: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                                 TABLE 308 BRAZIL: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                                 TABLE 309 BRAZIL: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                                 TABLE 310 BRAZIL: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2019–2025 (USD MILLION)
                                 TABLE 311 BRAZIL: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2014–2019 (USD MILLION)
                                 TABLE 312 BRAZIL: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2019–2025 (USD MILLION)
                                 TABLE 313 BRAZIL: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2014–2019 (USD MILLION)
                                 TABLE 314 BRAZIL: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                                 TABLE 315 BRAZIL: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2014–2019 (USD MILLION)
                                 TABLE 316 BRAZIL: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2019–2025 (USD MILLION)
                                 TABLE 317 BRAZIL: TOKENIZATION MARKET SIZE, BY VERTICAL,  2014–2019 (USD MILLION)
                                 TABLE 318 BRAZIL: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                        12.6.3.2 Mexico
                                 TABLE 319 MEXICO: TOKENIZATION MARKET SIZE, BY COMPONENT, 2014–2019 (USD MILLION)
                                 TABLE 320 MEXICO: TOKENIZATION MARKET SIZE, BY COMPONENT, 2019–2025 (USD MILLION)
                                 TABLE 321 MEXICO: TOKENIZATION MARKET SIZE, BY SERVICE, 2014–2019 (USD MILLION)
                                 TABLE 322 MEXICO: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                                 TABLE 323 MEXICO: TOKENIZATION MARKET SIZE, BY APPLICATION AREA, 2014–2019 (USD MILLION)
                                 TABLE 324 MEXICO: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,   2019–2025 (USD MILLION)
                                 TABLE 325 MEXICO: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2014–2019 (USD MILLION)
                                 TABLE 326 MEXICO: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE,  2019–2025 (USD MILLION)
                                 TABLE 327 MEXICO: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE, 2014–2019 (USD MILLION)
                                 TABLE 328 MEXICO: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                                 TABLE 329 MEXICO: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                                 TABLE 330 MEXICO: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE, 2019–2025 (USD MILLION)
                                 TABLE 331 MEXICO: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                                 TABLE 332 MEXICO: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)
                        12.6.3.3 Rest of Latin America
                                 TABLE 333 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY COMPONENT,  2014–2019 (USD MILLION)
                                 TABLE 334 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY COMPONENT,  2019–2025 (USD MILLION)
                                 TABLE 335 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY SERVICE,  2014–2019 (USD MILLION)
                                 TABLE 336 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY SERVICE, 2019–2025 (USD MILLION)
                                 TABLE 337 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2014–2019 (USD MILLION)
                                 TABLE 338 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY APPLICATION AREA,  2019–2025 (USD MILLION)
                                 TABLE 339 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2014–2019 (USD MILLION)
                                 TABLE 340 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY TOKENIZATION TECHNIQUE, 2019–2025 (USD MILLION)
                                 TABLE 341 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2014–2019 (USD MILLION)
                                 TABLE 342 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY DEPLOYMENT MODE,  2019–2025 (USD MILLION)
                                 TABLE 343 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2014–2019 (USD MILLION)
                                 TABLE 344 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY ORGANIZATION SIZE,  2019–2025 (USD MILLION)
                                 TABLE 345 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY VERTICAL, 2014–2019 (USD MILLION)
                                 TABLE 346 REST OF LATIN AMERICA: TOKENIZATION MARKET SIZE, BY VERTICAL, 2019–2025 (USD MILLION)

13 COMPETITIVE LANDSCAPE (Page No. - 222)
     13.1 OVERVIEW
     13.2 MARKET EVALUATION FRAMEWORK
          FIGURE 27 MARKET EVALUATION FRAMEWORK: 2019 AND 2020 TO WITNESS TOKENIZATION MARKET EXPANSION

14 COMPANY EVALUATION MATRIX (Page No. - 223)
     14.1 OVERVIEW
     14.2 COMPETITIVE LEADERSHIP MAPPING
             14.2.1 STAR
             14.2.2 EMERGING LEADERS
             14.2.3 PERVASIVE
             14.2.4 PARTICIPANTS
                    FIGURE 28 TOKENIZATION MARKET (GLOBAL), COMPETITIVE EVALUATION MATRIX, 2020

15 COMPANY PROFILES (Page No. - 225)
(Business Overview, Solutions and Services Offered, Recent Developments, MNM View, Key Strengths/ Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats)*
     15.1 INTRODUCTION
     15.2 FISERV
          FIGURE 29 FISERV: COMPANY SNAPSHOT
     15.3 MASTERCARD
          FIGURE 30 MASTERCARD: COMPANY SNAPSHOT
     15.4 VISA
          FIGURE 31 VISA: COMPANY SNAPSHOT
     15.5 MICRO FOCUS
          FIGURE 32 MICRO FOCUS: COMPANY SNAPSHOT
     15.6 AMERICAN EXPRESS
          FIGURE 33 AMERICAN EXPRESS: COMPANY SNAPSHOT
     15.7 HELPSYSTEMS
     15.8 MEAWALLET
     15.9 THALES TRUSTED CYBER TECHNOLOGIES (TCT)
     15.10 CIPHERCLOUD
     15.11 FUTUREX
     15.12 TOKENEX
     15.13 NCIPHER
     15.14 VERIFONE
     15.15 BLUEFIN PAYMENT SYSTEMS
     15.16 MARQETA
     15.17 PARAGON PAYMENT SOLUTIONS
     15.18 INTEGRAPAY
     15.19 ASIAPAY TECHNOLOGY
     15.20 LIAISON TECHNOLOGIES
     15.21 INGENICO EPAYMENTS
*Details on Business Overview, Solutions and Services Offered, Recent Developments, MNM View, Key Strengths/ Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats might not be captured in case of unlisted companies.
TABLE 347 OTHER MAJOR GLOBAL AND REGIONAL CYBERSECURITY VENDORS IN TOKENIZATION MARKET
     15.22 RIGHT TO WIN
          TABLE 348 RIGHT TO WIN

16 ADJACENT MARKETS (Page No. - 263)
     16.1 INTRODUCTION TO ADJACENT MARKETS
          TABLE 349 ADJACENT MARKETS FORECASTS
     16.2 LIMITATIONS
     16.3 TOKENIZATION MARKET ECOSYSTEM AND ADJACENT MARKETS
     16.4 ENCRYPTION SOFTWARE MARKET
             16.4.1 ADJACENT MARKET: ENCRYPTION SOFTWARE MARKET,  BY COMPONENT
                    TABLE 350 ENCRYPTION SOFTWARE MARKET SIZE, BY COMPONENT, POST-COVID-19 SCENARIO, 2019–2025 (USD MILLION)
                    TABLE 351 ENCRYPTION SOFTWARE MARKET SIZE, BY SERVICE, POST-COVID-19 SCENARIO,  2019–2025 (USD MILLION)
                    TABLE 352 ENCRYPTION SOFTWARE MARKET SIZE, BY PROFESSIONAL SERVICE, POST-COVID-19 SCENARIO, 2019–2025 (USD MILLION)
             16.4.2 ADJACENT MARKET: ENCRYPTION SOFTWARE MARKET,  BY APPLICATION
                    TABLE 353 ENCRYPTION SOFTWARE MARKET SIZE, BY APPLICATION, PRE-COVID-19 SCENARIO, 2019–2025 (USD MILLION)
                    TABLE 354 ENCRYPTION SOFTWARE MARKET SIZE, BY APPLICATION, POST-COVID-19 SCENARIO, 2019–2025 (USD MILLION)
             16.4.3 ADJACENT MARKET: ENCRYPTION SOFTWARE MARKET,  BY DEPLOYMENT MODE
                    TABLE 355 ENCRYPTION SOFTWARE MARKET SIZE, BY DEPLOYMENT MODE, PRE-COVID-19 SCENARIO, 2019–2025 (USD MILLION)
                    TABLE 356 ENCRYPTION SOFTWARE MARKET SIZE, BY DEPLOYMENT MODE, POST-COVID-19 SCENARIO, 2019–2025 (USD MILLION)
             16.4.4 ADJACENT MARKET: ENCRYPTION SOFTWARE MARKET, BY VERTICAL
                    TABLE 357 ENCRYPTION SOFTWARE MARKET SIZE, BY VERTICAL, PRE-COVID-19 SCENARIO,  2019–2025 (USD MILLION)
                    TABLE 358 ENCRYPTION SOFTWARE MARKET SIZE, BY VERTICAL, POST-COVID-19 SCENARIO,  2019–2025 (USD MILLION)
     16.5 PAYMENT SECURITY MARKET
             16.5.1 ADJACENT MARKET: PAYMENT SECURITY MARKET, BY COMPONENT
                    TABLE 359 PAYMENT SECURITY MARKET SIZE, BY COMPONENT, 2015–2022 (USD MILLION)
                    TABLE 360 SOLUTIONS: PAYMENT SECURITY MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION)
                    TABLE 361 SERVICES: PAYMENT SECURITY MARKET SIZE, BY TYPE, 2015–2025 (USD MILLION)
             16.5.2 ADJACENT MARKET: PAYMENT SECURITY MARKET, BY ORGANIZATION SIZE
                    TABLE 362 PAYMENT SECURITY MARKET SIZE, BY ORGANIZATION SIZE,  2015–2022 (USD MILLION)
             16.5.3 ADJACENT MARKET: PAYMENT SECURITY MARKET, BY VERTICAL
                    TABLE 363 PAYMENT SECURITY MARKET SIZE, BY VERTICAL, 2015–2022 (USD MILLION)
             16.5.4 ADJACENT MARKET: PAYMENT SECURITY MARKET, BY REGION
                    TABLE 364 PAYMENT SECURITY MARKET SIZE, BY REGION, 2015–2022 (USD MILLION)
     16.6 DATABASE SECURITY MARKET
             16.6.1 ADJACENT MARKET: DATABASE SECURITY MARKET,  BY COMPONENT
                    TABLE 365 DATABASE SECURITY MARKET SIZE, BY COMPONENT, 2015–2022 (USD MILLION)
                    TABLE 366 SERVICES: DATABASE SECURITY MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION)
             16.6.2 ADJACENT MARKET: DATABASE SECURITY MARKET,  BY SOFTWARE TYPE
                    TABLE 367 DATABASE SECURITY MARKET SIZE, BY SOFTWARE TYPE, 2015–2022 (USD MILLION)
             16.6.3 ADJACENT MARKET: DATABASE SECURITY MARKET,  BY BUSINESS FUNCTION
                    TABLE 368 DATABASE SECURITY MARKET SIZE, BY BUSINESS FUNCTION,  2015–2022 (USD MILLION)
             16.6.4 ADJACENT MARKET: DATABASE SECURITY MARKET,  BY DEPLOYMENT MODE
                    TABLE 369 DATABASE SECURITY MARKET SIZE, BY DEPLOYMENT MODE, 2015–2022 (USD MILLION)
             16.6.5 ADJACENT MARKET: DATABASE SECURITY MARKET,  BY VERTICAL
                    TABLE 370 DATABASE SECURITY MARKET SIZE, BY VERTICAL, 2015–2022 (USD MILLION)
             16.6.6 ADJACENT MARKET: DATABASE SECURITY MARKET,  BY REGION
                    TABLE 371 DATABASE SECURITY MARKET SIZE, BY REGION, 2015–2022 (USD MILLION)

17 APPENDIX (Page No. - 272)
     17.1 DISCUSSION GUIDE
     17.2 KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL
     17.3 AVAILABLE CUSTOMIZATIONS
     17.4 RELATED REPORTS
     17.5 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the tokenization market. An exhaustive secondary research was done to collect information on the tokenization market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakup and data triangulation procedures were used to estimate the size of the segments and subsegments of the market.

Secondary Research

In the secondary research process, various secondary sources were referred to, for identifying and collecting information regarding the study. The secondary sources included annual reports, press releases; investor presentations of tokenization vendors; forums, certified publications, and whitepapers to identify and collect information useful for this technical and market-oriented study. The secondary research was mainly used to obtain key information about the industry’s value chain, the total pool of key players, market classification, and segmentation from both markets- and technology-oriented perspectives.

Primary Research

The tokenization market comprises several stakeholders, such as service providers, solution vendors, System Integrators (SIs), technology partners, consulting firms, managed service providers, financial bodies, resellers and distributors, enterprise users, and technology providers. The demand side of the market consists of financial institutions, the insurance company’s eCommerce players, and many more. The supply side includes an tokenization solution and service providers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakup of the primary respondents:

Tokenization Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the tokenization market. These methods were also used extensively to estimate the size of various segments in the market. The research methodology used to estimate the market size includes the following:

  • Key players in the market have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares splits, and breakups have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakup procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To determine and forecast the global Tokenization market by component, service, application area, tokenization technique, deployment mode, organization size, vertical, and region from 2020 to 2025, and analyze the various macroeconomic and microeconomic factors that affect the market growth
  • To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
  • To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall tokenization market
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the tokenization market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakup of APAC into countries in Tokenization market size
  • Further breakup of Latin America into countries in Tokenization market size
  • Further breakup of MEA into countries in Tokenization market size
  • Further breakup of Europe into countries in Tokenization market size

Company Information

  • Detailed analysis and profiling of additional market players (up to five)
COVID-19

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Report Code
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Published ON
Dec, 2020
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