Global Tokenization Market: Synopsis
The detailed report published by Market Research Future (MRFR) projects that the global tokenization market is marked to expand remarkably at a CAGR of 24.14% during the forecast period of 2017-2023 and reach the market valuation of USD 2341.38 Bn by the end of the review period. Increasing demand for alternatives to optimize the process of online payments, increased payment fraudulence, and rise in demand for tokenization in various end-use industries such as telecom and IT, BFSI, healthcare, automotive and others are majorly propelling the growth of the global tokenization market during the assessment period.
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Global Tokenization Market: Industry Updates
In February 2019, it has been announced that Securitize.IO has partnered with Elevated Returns to undertake a large-scale tokenization event. The platform of choice for this event is Tezos (XTZ).
In February 2019, BitGo has announced the launch of Wrapped Bitcoin, a new crypto hybrid and Ethereum-based token which is backed by a regular bitcoin.
In January 2019, Swarm, a non-profit organization that provides open infrastructure for digital securities, has announced that it is launching a no-fee issuance of security tokens that provide digital securities.
In January 2019, WORBLI, a blockchain infrastructure, has entered in a deal with TokenOro, a global gold mining business to collaborate with the unique tokenization model designed to benefit the token-holders from current ownership of gold.
The prominent players in the Tokenization Market are –Symantec Corporation (US), Gemalto NV (Netherlands), CardConnect Corp. (US), Thales e-Security, Inc. (US), CyberSource Corporation (US), 3Delta Systems, Inc.(US), CipherCloud (US), Hewlett-Packard Enterprises (US), Liaison Technologies, Inc.(US), Futurex (US), Fiserv, Inc. (US), Paymetric, Inc. (US), First Data Corporation (US), and TokenEx LLC (US), Protegrity USA, Inc. (US) among others
Global Tokenization Market: Segmental Analysis
The global market for tokenization has been segmented on the basis of component, application area, deployment, organization size, and end-user. Based on component, the global tokenization market has been segmented into professional services, integration services, solution managed services, service, consulting, support and maintenance, training and education, and others. Based on application area, the global tokenization market has been segmented into payment security, compliance management, user authentication, and others. Based on deployment, the tokenization market has been segmented into indoor positioning system, outdoor positioning system, and others. Based on organization size, the global tokenization market has been segmented into Small and Medium-sized Enterprises (SMEs) and Large Enterprises. Based on end-user, the global tokenization market has been segmented into BFSI, telecom and IT, healthcare, government & defense, industrial, commercial, retail, automotive and others.
Global Tokenization Market: Regional Analysis
Geographically, the global tokenization market has been segmented into four major regions such as Asia Pacific (APAC), North America, Europe and the rest of the world. The North America region commands the leading share of the global tokenization market owing to the increased adoption of advanced technology, high demand for a secure platform to carry out large-scale online transactions, increasing awareness regarding cryptocurrency and increased utilization of advanced technology for payment security in this region. Rapid rise in demand for online payment security due to increasing payment fraudulence is inducing high demand for tokenization, leading to the expansion of the tokenization market in the Europe region. Increased adoption of tokenization over end-to-end encryption, high demand for payment security, and rise in payment security risks are propelling the growth of the tokenization market in the Asia Pacific region.
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- System Security
- Software investors
- Government agencies
- Tokenization vendors
- Payment solution providers
- Software vendors
- Value-Added Resellers
- Information Technology security agencies
- Managed Security Service Providers
- Tokenization Service Provider
- Tokenization Agencies
- Technology Integrators
- Research/Consultancy firms
- System integrators
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