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Tokenization Market is expected to reach USD 2,258.6 million by 2022
[June 14, 2017]

Tokenization Market is expected to reach USD 2,258.6 million by 2022


NEW YORK, June 14, 2017 /PRNewswire/ -- Highlights

·         The growing concern over increased credit and debit card frauds is driving the tokenization market

·         The tokenization market size is expected to grow from USD 823.0 million in 2017 to USD 2,258.6 million by 2022, at a Compound Annual Growth Rate (CAGR) of 22.4%. Payment security and compliance management are among the application areas contributing to the growth of the tokenization market.

·         The payment security application area is projected to contribute the largest market share during the forecast period.

·         Due to increased complexities in the payment transactions across the globe and the challenges of managing the sensitive information of users, payment security has become a major point of concern for organizations.

·         Cloud deployment is expected to have the largest market size in the tokenization market

·         Cloud deployment is the fastest-growing deployment mode in the tokenization market and is expected to hold the larger market size from 2017 to 2022.

·         The cloud-based platform offers a unified way in the form of SaaS-based tokenization services to secure the payment data and help organizations comply with PCI DSS and HIPAA, which is beneficial for organizations that have strict budgets for security investments.

·         North America is expected to have the largest market size in the tokenization market

·         Due to the presence of a large number of tokenization vendors, North America is expected to have the largest market size in the

·         tokenization market; whereas, Asia-Pacific (APAC) is expected to be the fastest-growing region during the forecast period.

The growing concern over increased credit and debit card frauds is driving the tokenization market
The tokenization market size is expected to grow rom USD 823.0 million in 2017 to USD 2,258.6 million by 2022, at a Compound Annual Growth Rate (CAGR) of 22.4%. Payment security and compliance management are among the application areas contributing to the growth of the tokenization market.



Payment security application area is expected to have the largest market size in the tokenization market
The payment security application area is projected to contribute the largest market share during the forecast period. Due to increased complexities in the payment transactions across the globe and the challenges of managing the sensitive information of users, payment security has become a major point of concern for organizations.


Cloud deployment is expected to have the largest market size in the tokenization market
Cloud deployment is the fastest-growing deployment mode in the tokenization market and is expected to hold the larger market size from 2017 to 2022. SMEs, in particular, have implemented cloud deployment as it enables them to focus on their core competencies, rather than investing their capital on payment infrastructure. Organizations can avoid costs related to hardware, software, storage, and technical staff by using cloud-based solutions. Security of the consumer's sensitive data is the biggest priority as it is the primary target of the attackers. The cloud-based platform offers a unified way in the form of SaaS-based tokenization services to secure the payment data and help organizations comply with PCI DSS and HIPAA, which is beneficial for organizations that have strict budgets for security investments.

North America is expected to have the largest market size in the tokenization market
Due to the presence of a large number of tokenization vendors, North America is expected to have the largest market size in the tokenization market; whereas, Asia-Pacific (APAC) is expected to be the fastest-growing region during the forecast period. Factors, such as increasing Internet usage, compliance regulation, and increased need for payment security in growing eCommerce are major factors for the adoption of tokenization solutions. Furthermore, the market in developing regions, such as the Middle East and Africa (MEA) and Latin America is expected to grow due to the increasing usage of mobility, cloud computing, expanding retail and banking sector, and government regulatory compliances.

The various key tokenization vendors profiled in the report are Hewlett-Packard Enterprises (US), Symantec Corporation (US), Gemalto NV (the Netherlands), Fiserv, Inc. (US), First Data Corporation (US), CardConnect Corp. (US), Thales e-Security (US), 3Delta Systems (US), CipherCloud (US), CyberSource (US), Liaison Technologies (US), Protegrity USA, Inc. (US), Futurex (US), Paymetric, Inc. (US), and TokenEx LLC (US).

Read the full report: http://www.reportlinker.com/p04933547/Tokenization-Market-by-Solution-Service-Application-Area-Deployment-Mode-Organization-Size-Vertical-and-Region-Global-Forecast-to.html

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

http://www.reportlinker.com


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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tokenization-market-is-expected-to-reach-usd-22586-million-by-2022-300474277.html

SOURCE Reportlinker


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