WOODLANDS, Singapore, June 11, 2020 (GLOBE NEWSWIRE) -- Tokenization is the process of protecting sensitive data by replacing it with an algorithmically generated number called a token. Tokenization is commonly used to protect sensitive information and prevent credit card fraud the real bank account number is held safe in a secure token vault.
The research report assesses the ongoing as well as future performance of the Tokenization Market, in addition to brand-new trends in the market. By understanding client’s requirements precisely and following them firmly, this Tokenization market research report has been structured. In this report, a methodical SWOT analysis & investment analysis is performed which forecasts forthcoming opportunities for the market players. The Tokenization report provides CAGR 22.45% values along with its fluctuations for the definite forecast period. Market definition included in the report provides the scope of particular product with respect to the driving factors and restraints in the market.
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Market Analysis: Global Tokenization Market:
“According to Data Bridge Market Research, global tokenization market is set to witness healthy CAGR of 22.45% in the forecast period of 2019- 2026”
Tokenization is the method of replacing complex data with distinctive symbols of authentication that maintain all the relevant data without compromising their safety. They are specifically intended to prevent unauthorized access to the significant data and information. They are widely used in businesses and so they can enhance credit card safety and e-commerce activities while reducing the cost and risk of adherence with industry and government norms.
As compared to the conventional methods in which the credit or debits pins and number were stored in databases and were transferred via networks; tokenization make sure that hacker doesn’t get access to the cardholders sensitive information. This technology is widely used in different industries such as healthcare, IT and Telecom, government, banking, financial services and other.
How will the report help new companies to plan their investments in the Tokenization Market?
Few of the major competitors currently working in the Global Tokenization Market are First Data Corporation, Gemalto, Fiserv, Inc, Micro Focus, Symantec Corporation, Thales eSecurity, WEX Inc., CipherCloud, Futurex, OpenText Corp., Worldpay, Protegrity USA, Inc., TokenEx, Bluefin Payment Systems, Sequent Software Inc, Discover Bank, Carta Worldwide, Ingenico Group., Verifone., Mastercard., Merchant Link, Rambus.com.
On the off chance that you are associated with the Tokenization Analytics industry or mean to be, at that point this investigation will give you far reaching standpoint. It's crucial you stay up with the latest Tokenization Market segmented by:
Tokenization Market: By Component
- Professional Services
- Training and Education
- Support and Maintenance
- Managed Services
- Professional Services
Tokenization Market: By Application Area
- Payment Security
- User Authentication
- Compliance Management
Tokenization Market: By Tokenization Technique
- Application Programming Interface (API)-Based
- Gateway- Based
Tokenization Market: By Deployment Mode
- On- Premises
Tokenization Market: By Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprises
Tokenization Market: By Vertical
- Financial Services, and Insurance
- IT and Telecom
- Energy and Utilities
Set of qualitative information that includes PESTEL Analysis, PORTER Five Forces Model, Value Chain Analysis and Macro Economic factors, Regulatory Framework along with Industry Background and Overview.
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Some of the Major Highlights of TOC covers:
Chapter 1: Methodology & Scope
- Definition and forecast parameters
- Methodology and forecast parameters
- Data Sources
Chapter 2: Executive Summary
- Business trends
- Regional trends
- Product trends
- End-use trends
Chapter 3: Tokenization Industry Insights
- Industry segmentation
- Industry landscape
- Vendor matrix
- Technological and innovation landscape
Chapter 4: Tokenization Market, By Region
- North America
- South America
- Middle East and Africa
Chapter 5: Company Profile
- Business Overview
- Financial Data
- Product Landscape
- Strategic Outlook
- SWOT Analysis
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.
Download Details Table of Content of Global Tokenization Market @ https://www.databridgemarketresearch.com/toc/?dbmr=global-tokenization-market
Key Developments in the Market:
- In May 2019, Blockstream announced the launch of their new platform that will help the user to use their new token to utilizing its bitcoin sidechain, Liquid. This will help in faster coin transfer and better built-in privacy. It will also provide Liquid API security to the compliances and legal services.
- In April 2019, MeaWallet announced the launch of their new tokenization solutions so that they can provide visa, American Express tokenization and Mastercard by using a single connection which will also help them to connect easily to the merchants, PSPs and acquirers. The main aim of the launch is to support the transactions of the e-commerce merchants.
Some of the factors responsible for the growth of this market are following:
- Growing prevalence for cloud-based tokenization solution: The cloud-based tokenization is very beneficial as they protect the data from both external and internal factors. It is decoded only by the payment processor. This security decreases the chances of fraud and other security threats. It is also very advantageous for the merchants as they do not have to uses many resources so they can make the payment infrastructure secure. They can be applied on any personally identifiable information such as usernames, password, patient records and others
- Rising demand for contactless payment solutions: Contactless payment is a safe technique for customers to use RFID technology or near-field communication (NFC) to buy products or services using a debit, credit or smartcard. Using contactless payment is very beneficial for the customer and businesses. EVM chip technology takes lots of transaction time but contactless payment eliminates the friction and helps the customer to get better shopping experience. More than other forms of payments, the chip technology used in contactless payments is actually more secure. So the fraud cases associated with the contactless payment is very less
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Base years considered in the study are:
- Historical year – 2010-2017
- Base year – 2018
- Forecast period– 2019 to 2026
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