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The global tokenization market was valued at US$ 880.9 million in 2018 and is expected to grow over the forecast period with a CAGR of 18.9 percent. (According to a research study recently published by Credence Research".)The major growth driving factor for the tokenization market is the robust need to protect crucial data information from disclosure. Replacing data with unique identification symbols that hold all the information needed for the data is called tokenization. The tokenization system has been used nowadays to protect sensitive data from fraud. Tokenization has various benefits such as protecting against hackers and thieves, reducing the scope of PCI, providing online protection and, among others, providing internal protection. Increasing data breach and cyber-attacks are the other major drivers for growing tokenization demand worldwide. The market is showing huge demand due to the wide application of tokenization in the financial sector. Therefore, we expect to see robust growth throughout the forecast period on the tokenization market.
Based on application, BFSI (Banking, Financial Services and Insurance) segment will lead the tokenization market in 2018. The BFSI segment accounted for around 25% of the revenue share in the same year. While pay in various stores, tokenization exempts merchants from maintaining customer information in their systems. Growing less cash transactions worldwide is the main growth factor for the segment. According to the World Payments Report (WPR), the volumes of cash less transactions are valued at US$ 482.6 billion in 2016 and grow with an annual increase of around 10%. Furthermore, tokenization has been embraced for the security of client's privileged information banks, financial services and insurance companies. As a result, we expect the BFSI segment to show significant growth over the forecast period.
Browse Full Report Originally Published by Credence Research @ https://www.credenceresearch.com/report/tokenization-market
How this report is useful?
The study "Tokenization" will facilitate strategic decision-making with credible and genuine business information. It also maps important rivals and their strategies and positioning on the "Tokenization" industry. The research also covers innovative and upcoming technological developments that are basically aimed at giving you an advantage over rivals. Various industry models industry dynamics and information contained in the study provide clarity across the value chain on different industries. The study also offers decisive approaches with a goal to support market entry and exit decision-making. The research also shows the market's revenue pockets and investment possibilities.
Who should buy this report?
• Stakeholders across the “Tokenization” market value chain.
• Business development managers
• CEO’s
• COO’s
• Marketing managers
• Technologists
• Suppliers
• Investors
• Banks
• Government agencies
Key questions answered in this report
• Who are the distributors, traders and dealers of “Tokenization” market?
• What are the expected largest segments in the “Tokenization” market during the forecast period from 2019 to 2027?
• What are the fastest-growing segments in the “Tokenization” market for the forecast period?
• What are the current market trends in the “Tokenization” market and valuable opportunities for the players?
• How the regulatory framework affects the global as well as the regional “Tokenization” markets?
• Which are the key players operating in the global “Tokenization” market and what are the strategies adopted by them?
• What are sales, revenue, and business strategy and product portfolio of top manufacturers of “Tokenization” market?
• What is the market size and trend in emerging and developed markets?
You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/59958
About Credence Research (Original Publisher)
Credence Research is a worldwide market research and counselling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we've manufactured a firm extraordinarily prepared to this task.
Contact Info:
Name: Chris Smith
Email: Send Email
Organization: Credence Research
Address: 105 N 1st ST #429, SAN JOSE,, CA 95103, United States
Phone: 18003618290
Website: https://www.credenceresearch.com/report/tokenization-market
Release ID: 88926407
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