Tokenization Market (Component – Software (On-premise, Cloud-based), Hardware, Services (Managed Services, Professional Services)); End use – BFSI, Retail and Consumer Goods, Government, Education, Military and Defense, Automotive, IT and Telecom, Energy and Utilities, Manufacturing, Others (Hospitality and Transportation); Solution – Payment Security, Customer Data Management, Compliance and Policy Management, Encryption; Enterprise Size – Small and Medium Enterprise, Large Enterprise)] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026
Tokenization is a data security system which converts sensitive data into a unique ID, referred to as token, to avoid unauthorized access to sensitive information. This process then preserves all the information in a format that allows the information’s security not to be compromised. Tokenization is beneficial for enterprises as it makes it difficult for individuals to hack the system or breach security, to gain access to user data.
The advantages of tokenization include the ability to secure sensitive data, reduced data loss, reduced payment card industry data security standard (PCI-DSS) compliance scope, compatibility with other technologies, and overall internal protection. The market for tokenization is forecasted to grow to US$ 6,901.1 Mn by 2026, recording a CAGR of 18.6%.
The tokenization market has been segmented based on components, solution, enterprise size, and end-use. Based on components, the market has been segmented into hardware, software (on- premise, cloud) and services (managed/outsourced services, professional services). Based on solution, the market is segmented into payment security, customer data management, compliance & policy management, and encryption.
On the basis of enterprise size, the market has been divided as small & medium enterprise and large enterprise. Based on end-use, the market has been bifurcated into BFSI, retail & consumer goods, government, education, military & defense, automotive, IT & telecom, energy & utilities, manufacturing, and others (hospitality & transportation). The report provides in-depth segment analysis of the global tokenization market, thereby providing valuable insights at the macro as well as micro levels.
The report also highlights the competitive landscape of the global tokenization market, positioning all the major players according to their presence in different regions of the world and recent key developments initiated by them in the market. The comprehensive tokenization market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, and technological factors along with the current market dynamics affecting the growth of the tokenization market.
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Market Segmentation: Global Tokenization Market
- Payment Security
- Customer Data Management
- Compliance & Policy Management
By Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
- Retail & consumer Goods
- Military & Defense
- IT & Telecom
- Energy & Utilities
- Others (Hospitality & Transportation)