Tokenization Market by Component, Application Area (Payment Security, Application Area, and Compliance Management), Tokenization Technique (API-based and Gateway-based), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2023
[183 Pages Report] The tokenization market is expected to grow from USD 983 million in 2018 to USD 2,670 million by 2023, at a Compound Annual Growth Rate (CAGR) of 22.1% during the forecast period. The growing need to protect cardholders’ data by following PCI DSS guidelines and increasing payment frauds that need to be prevented are expected to be major drivers of the tokenization market.
The cloud deployment mode to hold a larger market size during the forecast period
The cloud deployment mode is expected to grow at a higher CAGR, as SMEs are rapidly adopting the cost-effective cloud deployment model. This model helps SMEs avoid the costs associated with hardware, software, storage, and technical staff. The cloud-based platform offers a unified way in the form of SaaS-based security services to secure business applications. It is also beneficial for organizations with strict budgets for security investments.
The SMEs segment to grow at a higher CAGR during the forecast period
The SMEs segment is expected to grow at a higher CAGR during the forecast period, due to the increasing regulations in payment processing companies. SMEs are small in terms of their size, but cater to a large number of customers globally. The robust and comprehensive tokenization solution is not implemented in SMEs, due to financial constraints in these organizations. However, the large enterprises segment to account for a higher market share in 2018.
The tokenization solution and services have been deployed across verticals, including government; Banking, Financial Services, and Insurance (BFSI); IT and telecom; healthcare; retail; energy and utilities; automotive; and education. The retail vertical is expected to grow at the highest CAGR during the forecast period, whereas the BFSI vertical is estimated to have the largest market size in 2018.
North America to account for the largest market size during the forecast period
The global tokenization market has been segmented on the basis of regions into North America, Europe, APAC, MEA, and Latin America to provide a region-specific analysis in the report. North America, followed by Europe, is expected to become the largest revenue-generating region for tokenization solution and service vendors in 2018. The increasing payment security concerns and strict regulatory compliances are some of the key factors expected to fuel the growth of the tokenization market in North America. The APAC tokenization market is gaining traction, as the tokenization solution provides proactive security measures for preventing data breaches. SMEs as well as large organizations in the APAC region have become more aware of the tokenization process and its benefits and started adopting them to combat cyber frauds and data thefts.
Key Market Players
Major vendors who offer tokenization services across the globe are First Data (US), Gemalto (Netherlands), Fiserv (US), Micro Focus (UK), Symantec (US), Thales e-Security (US), Visa (US), WEX (US), Worldpay (US), Dell Technologies (US), CipherCloud (US), Futurex (US), Liaison Technologies (US), Protegrity (US), TokenEx (US), Bluefin (US), Sequent Software (US), Discover Financial Services (US), Carta Worldwide (Canada), Merchant Link (US), Ingenico ePayments (US), Rambus (US), Mastercard (US), Verifone (US), and IP Solution International (Australia). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and acquisitions, to expand their offerings in the tokenization market.
First Data Corporation is one of the leading operators of the world’s largest global tokenization network that helps secure payment transactions and card information form thefts. The company is growing in the tokenization market by using various strategies, such as launching advanced products and services, entering partnerships, and expanding its services geographically. Similarly, Thales e-Security, another leading tokenization solutions provider, has implemented various strategies to deliver the cutting-edge tokenization solution and services to global organizations. Various organic and inorganic growth strategies are helping tokenization vendors in staying ahead in the global tokenization market.
Recent developments:
- In June 2018, First Data partnered with Mastercard to provide a digital disbursement platform to Mastercard’s business customers. As per this partnership, First Data Corporation would provide the Disburse-to-Debit solution to Mastercard’s MoneySend customers for enabling speedy and secure real-time debit card payments.
- In December 2017, First Data acquired BluePay Holdings, a leading provider of technology-enabled payment processing for merchants in the US and Canada. With this acquisition, First Data enhanced its security portfolio with its robust security features, such as tokenization and point-to-point encryption.
- In May 2017, First Data partnered with Flywire, a leading provider of international payment solutions, to streamline cross-border transactions for its customers.
Key questions addressed by the report:
- Define, describe, and forecast the tokenization market based on components, application areas, deployment types, organization sizes, industry verticals, and regions.
- Detailed analysis of the market’s subsegments with respect to individual growth trends, prospects, and contributors to the total market
- Revenue forecast of the market’s segments with respect to 5 major regions, namely, North America, Europe, APAC, MEA, and Latin America
- Detailed analysis of the competitive developments, such as mergers and acquisitions, new product developments, and business expansion activities, in the market
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 20)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology (Page No. - 24)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Participants’ Profiles
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Factor Analysis
2.4 Tokenization Market: Research Assumptions
2.5 Limitations of the Study
3 Executive Summary (Page No. - 34)
4 Premium Insights (Page No. - 38)
4.1 Attractive Market Opportunities in the Tokenization Market
4.2 Tokenization Market, Market Share of Application Areas and Top 3 Regions, 2018
4.3 Tokenization Market, By Service, 2018–2023
4.4 Tokenization Market, By Deployment Mode, 2018
4.5 Tokenization Market, By Organization Size, 2018
4.6 Tokenization Market, Top 3 Verticals, 2018
4.7 Market Investment Scenario
5 Market Overview (Page No. - 42)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Mandate to Follow PCI-DSS Guidelines and Protect Cardholders’ Data
5.2.1.2 Increasing Payment Frauds and the Need to Prevent Them
5.2.1.3 Emergence of Targeted Attacks and Ubiquitous APTS
5.2.2 Restraints
5.2.2.1 Organizations’ Inability to Afford Robust Tokenization Solutions
5.2.2.2 Addressing Vulnerabilities According to EMV Standards
5.2.3 Opportunities
5.2.3.1 Demand for Cloud-Based Tokenization Solutions Among SMEs
5.2.3.2 Increase in Adoption of Contactless Payment Solutions
5.2.4 Challenges
5.2.4.1 Lack of Knowledge About Security Tokens Among End Users
5.3 Regulatory Landscape
5.3.1 Payment Card Industry Data Security Standard
5.3.2 General Data Protection Regulation
5.3.3 Health Insurance Portability and Accountability Act/HiTech Compliance
5.3.4 Federal Information Security Management Act
5.3.5 Gramm–Leach–Bliley Act
5.3.6 Sarbanes–Oxley Act
5.4 Innovation Spotlight
5.5 Use Cases
5.5.1 Adoption of Tokenization Solution By an Ecommerce Organization in the United States
5.5.2 Reliance on Tokenization Solution By the Hospitality Sector in North America
5.5.3 Adoption of Tokenization Solutions in the Healthcare Industry to Improve Data Security
5.5.4 Adoption of Tokenized Payments in the European Retail Sector for Reducing Frauds
5.5.5 Adoption of Tokenization Solutions By A Major IT and Telecom Company in the United States
5.6 Industry Trends
5.6.1 Top Application Analysis
5.6.2 Top Vertical Analysis
5.6.3 Top Region Analysis
5.7 Tokenization Architecture
5.8 Tokenization vs Encryption
6 Tokenization Market, By Component (Page No. - 55)
6.1 Introduction
6.2 Solution
6.2.1 Need to Reduce PCI DSS, HIPAA, and GDPR Compliance Scope to Drive the Tokenization Solution Market
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.1.1 Increasing Attacks on Payment Card Data Fueling the Demand for Consulting Services in Tokenization Market
6.3.1.2 Integration
6.3.1.2.1 Increasing Adoption of Standalone Tokenization Solution Driving the Market of Integration Services
6.3.1.3 Training and Education
6.3.1.3.1 Demand for Training and Education Services to Help Create Skilled Security Professionals
6.3.1.4 Support and Maintenance
6.3.1.4.1 Increased Demand for Tokenization Solutions Driving the Adoption of Support and Maintenance Services
6.3.2 Managed Services
6.3.2.1 Expanding Customer Base of Tokenization Vendors Driving the Adoption of Managed Services
7 Tokenization Market, By Application Area (Page No. - 65)
7.1 Introduction
7.2 Payment Security
7.2.1 The Growing Adoption of Online Payment Across Globe to Fuel the Adoption of Tokenization Solution for Enhanced Security
7.3 User Authentication
7.3.1 Increasing Use of Tokenization for User Authentication Due to the Rising Attacks on Sensitive Data of Users
7.4 Compliance Management
7.4.1 Organization Can Effectively Manage Stringent Compliances Using Tokenization Solution
8 Tokenization Market, By Tokenization Technique (Page No. - 71)
8.1 Introduction
8.2 Application Programming Interface (API)-Based
8.2.1 API-Based Tokenization Solutions to Allow Users Deploy A Payment Gateway of Their Choice
8.3 Gateway-Based
8.3.1 Gateway-Based Tokenization Offering Robust Tokens Through A Single Interface
9 Tokenization Market, By Deployment Mode (Page No. - 73)
9.1 Introduction
9.2 Cloud
9.2.1 Cost Effectiveness of Cloud Deployment of Tokenization Solution to Fuel ITs Demand
9.3 On-Premises
9.3.1 On-Premises Tokenization Enable Organizations to Control Platforms, Applications, Systems, and Data
10 Tokenization Market, By Organization Size (Page No. - 77)
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.2.1 The Growing Attack Surface in the Payment Infrastructure of Small and Medium-Sized Enterprises Driving the Demand for Tokenization Solutions
10.3 Large Enterprises
10.3.1 Rise in the Number of Advanced Persistent Threats to Fuel the Adoption of Tokenization Solutions Among Large Enterprises
11 Tokenization Market, By Vertical (Page No. - 81)
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.2.1 Tokenization Solutions Reduce Business Risk Profile of BFSI Organization and Increase Trust Among Their Customers
11.3 Government
11.3.1 Government Vertical to Show Increased Deployment of Tokenization Solution to Protect Sensitive Data of Citizens
11.4 Retail
11.4.1 Effective Management of PCI DSS and GDPR Compliance to Make Tokenization Solution Popular in Retail Vertical
11.5 Healthcare
11.5.1 The HIPAA Compliance in the Healthcare Sector is Encouraging Organization to Deploy Tokenization Solution
11.6 IT and Telecom
11.6.1 Rapid Technological Advancements in IoT, Cloud, Telecom Connectivity, and Smart Infrastructure Driving the Demand for Tokenization in the IT and Telecom Vertical
11.7 Energy and Utilities
11.7.1 Increasing Cyber-Threats on Critical Infrastructure, and Payment Application in Energy and Utilities Expected to Increase the Deployment of Tokenization Solution
11.8 Automotive
11.8.1 Increased Deployment of IoT Applications in Automotive is Fueling the Demand for Tokenization
11.9 Education
11.9.1 Increasing Payment Transaction Due for Online Education is Expected to Increase the Deployment of Tokenization in Education Vertical
11.10 Others
12 Tokenization Market, By Region (Page No. - 93)
12.1 Introduction
12.2 North America
12.2.1 United States
12.2.1.1 Being A Highly Regulated Region, US Shows Higher Deployment of Tokenization Solution and Services
12.2.2 Canada
12.2.2.1 The Increased Awareness to Protect High Value Data Assets in Organization is Fueling the Deployment of Tokenization in Canada
12.3 Europe
12.3.1 United Kingdom
12.3.1.1 Huge Demand for Tokenization Solution to Protect Payment Card Data in Uk-Based Organizations
12.3.2 Germany
12.3.2.1 The Demand for Frictionless Ecommerce Transactions is Fueling the Deployment of Tokenization Among German Organizations
12.3.3 France
12.3.3.1 The Security of Constantly Increasing Ecommerce and Mobile Payments is Encouraging Organizations in France to Deploy Tokenization Solution and Services
12.3.4 Rest of Europe
12.3.4.1 Increasing Popularity of Ewallets Among European Consumers is the Major Factor for Extensive Adoption of Tokenization
12.4 Asia Pacific
12.4.1 China
12.4.1.1 The Increasing Online Payments in Retail, Government, and Healthcare Organizations in China to Fuel the Heavy Deployment of Tokenization Solution
12.4.2 Australia and New Zealand (ANZ)
12.4.2.1 The Need for Protection of Increasing Online Transaction Across Various Verticals is the Major Factor for Increased Deployment of Tokenization in ANZ
12.4.3 India
12.4.3.1 The Deployment of Tokenization in India is Expected to Show High Growth Due to the Rapid Adoption of Online Payment Systems in the Region
12.4.4 Rest of Asia Pacific
12.4.4.1 Organizations in the Rest of Asia Pacific Region are Expected to Increase Payment Security By Deploying Tokenization Solution
12.5 Middle East and Africa
12.5.1 Middle East
12.5.1.1 The Increased Adoption of Cloud-Based Payment Platforms is Fueling the Use of Tokenization in Middle East Region
12.5.2 Africa
12.5.2.1 The Increasing Contactless and Mobile-Based Payment in Africa is Increasing the Deployment of Tokenization Solution
12.6 Latin America
12.6.1 Brazil
12.6.1.1 The Need to Secure Credit Card Transaction is Fueling the Deployment of Tokenization in Brazil
12.6.2 Mexico
12.6.2.1 Ewallet Being One of the Popular Payment Methods in Mexico is Enhancing the Demand for Tokenization in the Region
12.6.3 Rest of Latin America
12.6.3.1 The Need for Security of Payment Card Data is Driving the Deployment of Tokenization in Latin American Countries
13 Competitive Landscape (Page No. - 120)
13.1 Microquadrant Overview
13.1.1 Visionary Leaders
13.1.2 Innovators
13.1.3 Dynamic Differentiators
13.1.4 Emerging Companies
13.2 Competitive Benchmarking
13.2.1 Analysis of Product Portfolio of Major Players in the Tokenization Market
13.2.2 Business Strategies Adopted By Major Players in the Tokenization Market
13.3 Start-Up Microquadrant
13.3.1 Progressive Companies
13.3.2 Responsive Companies
13.3.3 Dynamic Companies
13.3.4 Starting Blocks
13.4 Competitive Scenario
13.4.1 Partnerships, Agreements, and Collaborations
13.4.2 New Product Launches/Product Enhancements
13.4.3 Mergers and Acquisitions
13.4.4 Business Expansions
14 Company Profiles (Page No. - 130)
14.1 Introduction
(Business Overview, Products, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
14.2 First Data
14.3 Gemalto
14.4 Fiserv
14.5 Micro Focus
14.6 Symantec
14.7 Thales Esecurity
14.8 Visa
14.9 Wex
14.10 Ciphercloud
14.11 Futurex
14.12 Liaison Technologies
14.13 Worldpay
14.14 Protegrity
14.15 Tokenex
14.16 Bluefin Payment Systems
14.17 Sequent Software
14.18 Discover Financial Services
14.19 Carta Worldwide
14.20 Ingenico Epayments
14.21 Verifone
14.22 Mastercard
14.23 Merchant Link
14.24 Rambus
14.25 Shift4
14.26 IP Solution International
*Details on Business Overview, Products, Solutions, & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
15 Appendix (Page No. - 176)
15.1 Discussion Guide
15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
15.3 Available Customizations
15.4 Related Reports
15.5 Author Details
List of Tables (80 Tables)
Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Tokenization Market Size and Growth, 2016–2023 (USD Million, Y-O-Y %)
Table 3 Innovation Spotlight: Latest Tokenization Solutions
Table 4 Tokenization vs Encryption
Table 5 Tokenization Market Size, By Component, 2016–2023 (USD Million)
Table 6 Solution: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 7 Tokenization Market Size, By Service, 2016–2023 (USD Million)
Table 8 Services: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 9 Professional Services Market Size, By Region, 2016–2023 (USD Million)
Table 10 Professional Services: Tokenization Services Market Size, By Type, 2016–2023 (USD Million)
Table 11 Consulting Services Market Size, By Region, 2016–2023 (USD Million)
Table 12 Integration Services Market Size, By Region, 2016–2023 (USD Million)
Table 13 Training and Education Services Market Size, By Region, 2016–2023 (USD Million)
Table 14 Support and Maintenance Services Market Size, By Region 2016–2023 (USD Million)
Table 15 Managed Services Market Size, By Region, 2016–2023 (USD Million)
Table 16 Tokenization Market Size, By Application Area, 2016–2023 (USD Million)
Table 17 Payment Security: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 18 User Authentication: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 19 Compliance Management: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 20 Tokenization Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 21 Cloud Deployment: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 22 On-Premises: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 23 Tokenization Market Size, By Organization Size, 2016–2023 (USD Million)
Table 24 Small and Medium-Sized Enterprises: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 25 Large Enterprises: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 26 Tokenization Market Size, By Vertical, 2016–2023 (USD Million)
Table 27 Banking, Financial Services, and Insurance: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 28 Government: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 29 Retail: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 30 Healthcare: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 31 IT and Telecom: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 32 Energy and Utilities: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 33 Automotive: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 34 Education Vertical: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 35 Others: Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 36 Tokenization Market Size, By Region, 2016–2023 (USD Million)
Table 37 North America: Tokenization Market Size, By Component, 2016–2023 (USD Million)
Table 38 North America: Tokenization Market Size, By Service, 2016–2023 (USD Million)
Table 39 North America: Tokenization Market Size, By Professional Service, 2016–2023 (USD Million)
Table 40 North America: Tokenization Market Size, By Application Area, 2018–2023 (USD Million)
Table 41 North America: Tokenization Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 42 North America: Tokenization Market Size, By Organization Size, 2016–2023 (USD Million)
Table 43 North America: Tokenization Market Size, By Vertical, 2016–2023 (USD Million)
Table 44 North America: Tokenization Market Size, By Country, 2016–2023 (USD Million)
Table 45 Europe: Tokenization Market Size, By Component, 2016–2023 (USD Million)
Table 46 Europe: Tokenization Market Size, By Service, 2016–2023 (USD Million)
Table 47 Europe: Tokenization Market Size, By Professional Service, 2016–2023 (USD Million)
Table 48 Europe: Tokenization Market Size, By Application Area, 2016–2023 (USD Million)
Table 49 Europe: Tokenization Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 50 Europe: Tokenization Market Size, By Organization Size, 2016–2023 (USD Million)
Table 51 Europe: Tokenization Market Size, By Vertical, 2016–2023 (USD Million)
Table 52 Europe: Tokenization Market Size, By Country, 2016–2023 (USD Million)
Table 53 Asia Pacific: Tokenization Market Size, By Component, 2016–2023 (USD Million)
Table 54 Asia Pacific: Tokenization Market Size, By Service, 2016–2023 (USD Million)
Table 55 Asia Pacific: Tokenization Market Size, By Professional Service, 2016–2023 (USD Million)
Table 56 Asia Pacific: Tokenization Market Size, By Application Area, 2016–2023 (USD Million)
Table 57 Asia Pacific: Tokenization Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 58 Asia Pacific: Tokenization Market Size, By Organization Size, 2016–2023 (USD Million)
Table 59 Asia Pacific: Tokenization Market Size, By Vertical, 2016–2023 (USD Million)
Table 60 Asia Pacific: Tokenization Market Size, By Country, 2016–2023 (USD Million)
Table 61 Middle East and Africa: Tokenization Market Size, By Component, 2016–2023 (USD Million)
Table 62 Middle East and Africa: Tokenization Market Size, By Service, 2016–2023 (USD Million)
Table 63 Middle East and Africa: Tokenization Market Size, By Professional Service, 2016–2023 (USD Million)
Table 64 Middle East and Africa: Tokenization Market Size, By Application Area, 2016–2023 (USD Million)
Table 65 Middle East and Africa: Tokenization Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 66 Middle East and Africa: Tokenization Market Size, By Organization Size, 2016–2023 (USD Million)
Table 67 Middle East and Africa: Tokenization Market Size, By Vertical, 2016–2023 (USD Million)
Table 68 Middle East and Africa: Tokenization Market Size, By Sub-Region, 2016–2023 (USD Million)
Table 69 Latin America: Tokenization Market Size, By Component, 2016–2023 (USD Million)
Table 70 Latin America: Tokenization Market Size, By Service, 2016–2023 (USD Million)
Table 71 Latin America: Tokenization Market Size, By Professional Service, 2016–2023 (USD Million)
Table 72 Latin America: Tokenization Market Size, By Application Area, 2016–2023 (USD Million)
Table 73 Latin America: Tokenization Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 74 Latin America: Tokenization Market Size, By Organization Size, 2016–2023 (USD Million)
Table 75 Latin America: Tokenization Market Size, By Vertical, 2016–2023 (USD Million)
Table 76 Latin America: Tokenization Market Size, By Country, 2016–2023 (USD Million)
Table 77 Partnerships, Agreements, and Collaborations, 2017–2018
Table 78 New Product Launches/Product Enhancements, 2017–2018
Table 79 Mergers and Acquisitions, 2016–2018
Table 80 Business Expansions, 2016–2018
List of Figures (53 Figures)
Figure 1 Tokenization Market: Research Design
Figure 2 Research Methodology
Figure 3 Data Triangulation
Figure 4 Market Size Estimation Methodology: Bottom-Up and Top-Down Approaches
Figure 5 Factors: Impact Analysis
Figure 6 Services Segment to Grow at the Highest CAGR During the Forecast Period
Figure 7 North America to Account for the Highest Market Share in 2018
Figure 8 Fastest-Growing Segments of the Tokenization Market
Figure 9 Increasing Payment Frauds and Growing Stringent Regulations to Drive the Demand for Tokenization Solutions and Services Across Verticals and Regions
Figure 10 Payment Security Segment and North America to Account for the Highest Market Shares in 2018
Figure 11 Professional Services Segment to Account for A Higher Market Share During the Forecast Period
Figure 12 Cloud Segment to Account for A Higher Market Share in 2018
Figure 13 Large Enterprises Segment to Account for A Higher Market Share in 2018
Figure 14 BFSI Vertical Followed By Government Vertical to Account for the Highest Market Shares in 2018
Figure 15 Asia Pacific to Emerge as the Best Market for Investment
Figure 16 Drivers, Restraints, Opportunities, and Challenges: Tokenization Market
Figure 17 Global Point of Sale Payment Methods
Figure 18 Security Incidents Witnessed By the Retail Vertical
Figure 19 Tokenization Architecture
Figure 20 Services Segment to Record Higher Growth Rate During the Forecast Period
Figure 21 Managed Services Segment to Record Higher Growth During the Forecast Period
Figure 22 Payment Security Application to Record the Highest Growth During the Forecast Period
Figure 23 Global Ecommerce Payment Methods
Figure 24 Fully Compliant Organizations
Figure 25 Cloud Deployment Mode to Record Higher Growth During the Forecast Period
Figure 26 Small and Medium-Sized Enterprises Segment to Record Higher Growth During the Forecast Period
Figure 27 Retail Vertical to Record the Highest Growth During the Forecast Period
Figure 28 Asia Pacific to Hold the Highest Market Share During the Forecast Period
Figure 29 North America Ecom Payment Methods
Figure 30 North America: Tokenization Market Snapshot
Figure 31 Asia Pacific Point of Sale Payment Methods
Figure 32 Asia Pacific: Tokenization Market Snapshot
Figure 33 Latin America Ecom Payment Methods
Figure 34 Microquadrant
Figure 35 Start-Up Microquadrant
Figure 36 Key Developments By the Leading Players in the Tokenization Market During 2016–2018
Figure 37 Geographic Revenue Mix of the Top Players in the Tokenization Market
Figure 38 First Data: Company Snapshot
Figure 39 SWOT Analysis: First Data
Figure 40 Gemalto: Company Snapshot
Figure 41 SWOT Analysis: Gemalto
Figure 42 Fiserv: Company Snapshot
Figure 43 SWOT Analysis: Fiserv
Figure 44 Micro Focus: Company Snapshot
Figure 45 SWOT Analysis: Micro Focus
Figure 46 Symantec: Company Snapshot
Figure 47 SWOT Analysis: Symantec
Figure 48 Visa: Company Snapshot
Figure 49 Wex: Company Snapshot
Figure 50 Worldpay: Company Snapshot
Figure 51 Discover Financial Services: Company Snapshot
Figure 52 Verifone: Company Snapshot
Figure 53 Mastercard: Company Snapshot
The study involved 4 major activities to estimate the current market size of the tokenization market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the market’s segments and subsegments.
Secondary research
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, have been referred to, for identifying and collecting information for this study. These secondary sources included annual reports; press releases and investor presentations of companies; whitepapers, certified publications, and articles by recognized authors; gold standard and silver standard websites; tokenization technology Research and Development (R&D) organizations; regulatory bodies; and databases.
Primary research
Various primary sources from both the supply and demand sides of the tokenization market ecosystem were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, related key executives from various vendors who provide the tokenization platform, associated service providers, and system integrators operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Following is the breakup of the primary respondents:
To know about the assumptions considered for the study, download the pdf brochure
Market size estimation
For making market estimates and forecasting the tokenization market and the other dependent submarkets, top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global tokenization market using the revenues and offerings of the key companies in the market. The research methodology used to estimate the market size includes the following:
- The key players in the market were identified through extensive secondary research.
- The market size, in terms of value, was determined with the help of the primary and secondary research processes.
All percentage shares, splits, and breakups were determined using secondary sources and verified through primary sources.
Data triangulation
With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Report objectives
- To define, describe, and forecast the tokenization market by component (solution and services), application area, tokenization technique, deployment mode, organization size, vertical, and region
- To provide detailed information about major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the tokenization market
- To analyze the micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
- To analyze the market opportunities for stakeholders by identifying the high-growth segments of the market
- To forecast the market size of the market’s segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To profile the key players in the market and comprehensively analyze their market size and core competencies
- To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations, in the global tokenization market
Scope of the report
Report Metrics |
Details |
|
Market size available for years |
2016–2023 |
|
Base year considered |
2017 |
|
Forecast period |
2018–2023 |
|
Forecast units |
Million (USD) |
|
Segments covered |
Components, Application Areas, Tokenization Techniques, Deployment Modes, Organization Size, Verticals, and Regions |
|
Regions covered |
North America, APAC, Europe, MEA, and Latin America |
|
Companies covered |
First Data (US), Gemalto (Netherlands), Fiserv (US), Micro Focus (UK), Symantec (US), Thales e-Security (US), Visa (US), WEX (US), Worldpay (US), Dell Technologies (US), CipherCloud (US), Futurex (US), Liaison Technologies (US), Protegrity (US), TokenEx (US), Bluefin (US), Sequent Software (US), Discover Financial Services (US), Carta Worldwide (Canada), Merchant Link (US), Ingenico ePayments (US), Rambus (US), Mastercard (US), Verifone (US), and IP Solution International (Australia) |
This research report categorizes the tokenization market based on components, application areas, deployment modes, organization size, verticals, and regions.
Based on components, the tokenization market has been segmented as follows:
- Solution
- Services
- Professional Services
- Consulting
- Integration
- Training and Education
- Support and Maintenance
- Managed Services
Based on application areas, the tokenization market has been segmented as follows:
- Payment Security
- User Authentication
- Compliance Management
Based on tokenization techniques, the tokenization market has been segmented as follows:
- API-based
- Gateway-based
Based on deployment modes, the tokenization market has been segmented as follows
- On-premises
- Cloud
Based on organization sizes, the tokenization market has been segmented as follows
- SMEs
- Large Enterprises
Based on regions, the tokenization market has been segmented as follows:
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- APAC
- China
- Australia and New Zealand (ANZ)
- India
- Rest of APAC
- MEA
- Middle East
- Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
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:
Product analysis
- Product matrix gives a detailed comparison of the product portfolio of each company
Company information
- Detailed analysis and profiling of additional market players (up to 5)
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Tokenization Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Tokenization Market