Valued to be $4.3 Billion by 2026, Tokenization Slated for Robust Growth Worldwide
SAN FRANCISCO, Sept. 15, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Tokenization - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Global Tokenization Market to Reach US$4.3 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Tokenization estimated at US$1.6 Billion in the year 2020, is projected to reach a revised size of US$4.3 Billion by 2026, growing at a CAGR of 18.4% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to grow at a 19.6% CAGR to reach US$3.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 16% CAGR for the next 7-year period. This segment currently accounts for a 35.4% share of the global Tokenization market. The Solutions segment's growth is favored by increasing deployment of tokenization solutions across SMEs as an effective approach to mitigate the risk of identity theft and payment frauds. Companies operating in the industry are increasingly opting for tokenization solutions to comply with PCI DSS regulations.
The U.S. Market is Estimated at $697.9 Million in 2021, While China is Forecast to Reach $476.3 Million by 2026
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SOURCE Global Industry Analysts, Inc.
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