Tokenization Market

Market Leader - Tokenization Market

Tokenization solution replaces sensitive information such as Primary Account Number (PAN), Payment card industry (PCI), Protected Health Information (PHI), and Personally Identifiable Information (PII) with unique identification symbol or token, which is a non-sensitive equivalent that retains all the essential information about the data and maintains its security during transaction. The solution helps organizations to comply with the Payment Card Industry Data Security Standard (PCI DSS) and Health Insurance Portability and Accountability Act (HIPAA). In this report, MarketsandMarkets expects the tokenization market size to grow from USD 823.0 Million in 2017 to USD 2,258.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 22.4%.

The key players in the market include Hewlett-Packard Enterprises (US), Symantec Corporation (US), Gemalto NV (Netherlands), Fiserv, Inc. (US), First Data Corporation (US), CardConnect Corp. (US), Thales e-Security (US), 3Delta Systems (US), CipherCloud (US), CyberSource (US), Liaison Technologies (US), Protegrity USA, Inc. (US), Futurex (US), Paymetric, Inc. (US), and TokenEx LLC (US). These players have adopted various strategies such as partnerships, collaborations, agreements, mergers and acquisitions, and new product launches, to achieve growth in the global tokenization market.

Gemalto NV is among the leading players in the tokenization market. The fundamental objective of Gemalto is to meet every client’s requirement and also provide new advancements in payment security. The company serves clients across different industries, such as government, Banking, Financial Services, & Insurance (BFSI), retail, healthcare, education, and automotive. The company has its major presence in North America, Europe, and Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. Gemalto is considered to be one of the strongest providers of tokenization solutions and services. The organization follows both organic and inorganic growth strategies for expansion of its market shares. For instance, in September 2016, the company launched expanded SafeNet data protection portfolio and helped organizations to protect big data deployments in the cloud, data center, and virtualized environments. Similarly, in July 2016, the company entered into a partnership agreement with Stormshield and delivered end-to-end security for the connection and data exchanges with mobile devices. Moreover, in April 2016, the company formed a partnership with Worldline, a major player in the European payment and transactional services market. With this partnership the company accelerated the mobile payment deployment..

Fiserv, Inc. is another leading provider of tokenization solutions and services to a variety of verticals across the globe. The organization has a noteworthy presence in a large number of countries and primarily serves the regions of North America, Europe, and APAC, MEA, and Latin America. Fiserv’s long-term strategy leans towards organic and inorganic growth, where it hopes to launch new tokenization solutions and enhance its capabilities through new product launches and partnerships with strong companies. With the acquisition of Online Banking Solutions, Inc. in December 2016, the company enhanced its cash management and digital business banking capabilities. Similarly, in November 2016, the company formed a partnership with CrowdStrike, a leading provider of next-generation endpoint protection solution and offers SaaS-based endpoint protection technology. Moreover, in September 2016, the company launched BillMatrix Next and delivered a configurable, multichannel electronic billing and payment platform. These developments helped the company to enhance its capabilities as well as gain a significant market share in the global tokenization market.

Related Reports:

Tokenization Market by Solution, Service, Application Area (Payment Security, User Authentication, Compliance Management), Deployment Mode (Cloud, On-Premises), Organization Size (SMEs, Large Enterprises), Vertical, and Region - Global Forecast to 2022

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Report Code
TC 5296
Published ON
May, 2017
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