As per Maximize Market research, a global business research and consultancy firm, the total global market for Tokenization Market dynamics, structure by analyzing the market segments and projects the Market size.
The 34 countries that are supposed to be desirable travel destinations for industry stakeholders are covered by the report. The important players chosen for benchmarking and profiling are chosen based on their probable investment criteria, regional dominance, and global reach. The supply-side contribution of each local, regional, and international actor to the overall market has been taken into account.
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Global Tokenization Market size was valued at US$ 2.26 Bn. in 2021 and is expected to grow at a CAGR of 19.5% through 2021 to 2029. North America Region leads the Global Tokenization Market by 2029.
Tokenization Market Overview:
In order to determine the total size of Tokenization market by countries and segments, the report conducted a micro level analysis of each nation. The size of the regional and global markets is assessed using a bottom-up methodology. By doing a micro-level analysis of each country, it is possible to determine the contribution of the unorganized market to the overall market size. The Tokenization market determine the extensive research for the business firm, and provide the latest drivers, restraints, and opportunities for Tokenization market. The results are then verified through interviews with local business leaders. The secondary research and analysis of the same are done using both paid and unpaid data bases. Consumption in each country by kind and supply by each player are sourced from legitimate government databases, paid databases, and, in the case of listed firms, company annual reports. If a company’s annual reports are not made public, they might be obtained from the tax department of the local government.
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Tokenization Market Dynamics:
MMR Research is a targeted and practical research approach that makes it possible to examine the key market dynamics by both established and developing regions of the globe. Additionally, our experts undertake in-depth analyses of geographical areas to give clients and organisations the chance to excel in specialised industries and grow in developing global markets. This market research study also highlights the dynamically shifting Player landscape that affects the market’s growth.
Due to the possibility of COVID-19 spreading through surfaces, the usage of money notes has been restricted. This fault has completely changed the way people pay for stuff online. Contactless payment systems have grown in popularity throughout the world due to the convenience of making payments without the need for help and the elimination of the need to be physically present to make a payment. Mobile is the most popular contactless payment option among customers. One of the key drivers of contactless payment solution adoption is cost reduction.
End users and organizations have benefited from contactless payments, which have helped them shift away from wire transfers, which are the second most popular and exploited method for cybercriminals. In Europe, contactless payments are primarily gaining momentum. 90% of European business leaders, according to Gemalto, have already invested in contactless payment solutions. 82% of Taiwanese consumers have utilized contactless payments, according to a Visa poll. MasterCard’s in-store contactless transactions were 61% in the Czech Republic, 41% in Poland, 27% in Hungary, and 27% in Slovakia, according to MasterCard’s president. According to the Association for Financial Professionals, contactless cards enable 66% of cardholders in Australia to tap and pay. These figures show that customers are more aligned in favor of contactless payments, and COVID-19 has accelerated the adoption of contactless payments significantly.
Tokenization Market Segment:
Based on the Organization Size, the market is segmented into Small and Medium Enterprise, and Large Enterprise. The small and Medium Enterprise segment is expected to grow rapidly at a CAGR during the forecast period 2021-2029. Tokenization products and services are mostly used by Small and Medium enterprises to comply with responsibilities and mitigate fraud risks. Tokenization solutions are being used by this Small and Medium Enterprise to secure sensitive data from network weaknesses and assaults. One of the main goals of attackers targeting SMEs is to gain access to client information, payment details, and other confidential information through their applications. Cybercriminals use automation to attack thousands of applications at once, taking advantage of Small and Medium enterprises that lack security.
Based on the Vertical, the market is segmented into BFSI, Retail and Consumer Goods, Government, Education, Military and Defense, IT and Telecom, and Others. BFSI vertical segment is expected to grow rapidly at a CAGR during the forecast period 2021-2029. Because it deals with money, the BFSI vertical is a target for cybercriminals. It reveals a significant number of financial transactions, which cybercriminals find appealing. As a result, it is constantly on the lookout for sophisticated payment security solutions and services to secure its staff, customers, assets, offices, branches, and operations; as a result, it controls a substantial chunk of the tokenization industry by vertical.
Regional Analysis:
On the basis of geography, the Tokenization market is segmented into 5 main regions and they are- North America, Europe, Asia Pacific, the Middle East, Africa, and South America respectively.
Research methodology:
- The size of the global Tokenization market is estimated and validated using the top-down and bottom-up methodologies.
- Different industry classification standards are strictly adhered to by players in order to reach an exhaustive list of functional and relevant players. A thorough validation test is also carried out in order to locate the most pertinent players for the survey in the Tokenization market.
- With the aid of paid databases like Factiva, Bloomberg, etc., priority lists are sorted depending on revenue generated based on most recent reporting.
- Finally, the questionnaire was defined and specifically designed to meet all the needs of collecting primary data by prior appointment, targeting the main target groups, incl. This helps us collect data on player revenue, operating cycle and expenses, profit and product or service growth, among other things. Almost 70-80% of the data is collected through primary media and further validated through various secondary sources including regulators, World Bank, associations, company websites, SEC filings, OTC BB, USPTO, EPO, annual reports, press releases etc.
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Tokenization Market Key players:
• TokenEx
• First Data Corporation
• Fiserv
• Micro Focus
• Visa
• WEX
• Thales e-Security, Inc.
• Worldpay
• CyberSource Corporation
• Dell Technologies
• Liaison Technologies
• Protegrity
• Bluefin
• Sequent Software
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