In 2022, the size of the global tokenization market was estimated at $2.39 billion USD. The market is projected to grow from USD 2.81 billion in 2023 to USD 9.82 billion by 2030, exhibiting a CAGR of 19.6% during the forecast period.
Sensitive data are changed into uniquely identifying symbols through the process of tokenization, which preserves all pertinent data without jeopardizing security. Using this technique, sensitive data can be tokenized, including bank transactions, medical records, criminal histories, information from driver's licenses, loan applications, stock purchases, and voter registrations.
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Which company dominates the Global Tokenization Market?
- Visa (U.S.)
- Fiserv, Inc. (U.S.)
- Mastercard (U.S.)
- Open Text Corporation (Canada)
- TrustCommerce (U.S.)
- American Express (U.S.)
- Thales (France)
- TokenEx, Inc (U.S.)
- Entrust Corporation (U.S.)
- FIS (U.S.)
What are the factors driving the growth of the Tokenization Market?
The market is fueled by the quick spread of electronic payment systems. The increased use of digital payments comes with a number of difficulties, particularly in terms of security. Tokenization is used by end users in industries like retail, healthcare, banking, and insurance to replace sensitive data with a one-of-a-kind code known as a token as a form of security against security breaches brought on by the prevalence of digital payments. In 2021, a survey revealed that more than 80% of Americans used digital payments and wanted them to be quicker, safer, and easier.
What are the market's geographic insights for the Tokenization Market?
The regional segments of this market are Asia Pacific, North America, South America, Europe, the Middle East, and Africa.
Due to the presence of major players in the U.S., Canada, and Mexico, regions where new technologies have been adopted quickly, North America held a significant portion of the tokenization market share in 2022, according to the analysis. Most Americans conduct their business using some form of online payment. Buying now and paying later with cryptocurrencies is one of the market trends in North America that is driving the regional market. Additionally, companies with U.S. roots, like Visa and Mastercard, provide the majority of the world's online payment networks, fostering further market expansion.
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An overview of the report
- The report comprehensively analyzes recent and anticipated market trends to help investors find investment opportunities.
- Market predictions through 2030, starting from estimated market values
- Market trends that are significant across industries, regions, and countries
- Market strategies and significant developments observed
- Market dynamics like drivers, obstacles, opportunities, and other trends require
- comprehensive company profiles of significant players, both established and emerging
- Emerging economies are anticipated to grow through 2030.
Analysts have segmented the "Tokenization Market" into application, type, and regional segments to aid market participants in better understanding the market. Each element clearly demonstrates the variables that are most likely to have an impact on it and the variables that are anticipated to have a limit. The reader can access specific market updates thanks to the segmented explanation. The market research report on Tokenization Market Trends also discusses evolving environmental concerns, shifting political environments, and various government approaches to regulatory reforms.
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