The global tokenization market is expected to reach $13.23 billion by 2030, growing at a CAGR of 19.7% during the forecast period of 2023-2030.
The growth of this market is attributed to the proliferation of digital payment methods, stringent PCI DSS regulations, and increasing financial fraud in e-commerce. In addition, the growing inclination toward using payment applications across various industries is expected to offer significant opportunities for the growth of this market. However, tokenization implementation adds a layer of complexity to the IT structure, which restrains the growth of this market. Furthermore, the low awareness of online payments in rural areas challenges the market’s growth. Additionally, the rising adoption of cloud-based tokenization solutions and services is a major market trend.
Based on offering, the tokenization market is segmented into solutions and services. In 2022, the solutions segment accounted for the largest share of the tokenization market. The large market share of this segment is mainly attributed to the increasing need to ensure compliance with payment security guidelines and the growing need to ensure continuous customer experience and maintain fraud prevention levels due to increased financial crimes. Moreover, growing consumer interest in contactless payments and rising demand for cloud-based tokenization solutions are expected to provide lucrative opportunities for the market’s growth. However, the services segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the growing need for visibility among organizations for diagnosing and troubleshooting problems before they impact operations or end-user experiences.
Based on application, the tokenization market is segmented into payment security, user authentication, and compliance management. In 2022, the payment security segment accounted for the largest share of the tokenization market. The large market share of this segment is attributed to the rise in demand for advanced payment security solutions for eCommerce, the increasing use of payment applications across different industries, and the rising need to secure online business-sensitive transactions from advanced cyberattacks. However, the user authentication segment is expected to register the highest CAGR during the forecast period due to enhanced payment security processes, the need to prevent unauthorized users from accessing a device or network, the rise in cyberattacks on fintech institutes, and the increasing need to protect user payment transaction data.
Based on organization size, the tokenization market is segmented into large enterprises and small & medium-sized enterprises. In 2022, the large enterprises segment accounted for the largest share of the tokenization market. The large market share of this segment is attributed to rising concerns about creating a safe environment for customer payment transactions and the need to cater to dynamic customer trends, streamline business operations, and enhance market competitiveness. However, the small & medium-sized enterprises segment is expected to register the highest CAGR during the forecast period due to the rising adoption of payment security solutions among SMEs to modernize their businesses and provide customers with seamless & secure digital solutions.
Based on end-use industry, the tokenization market is segmented into BFSI, retail, travel & hospitality, healthcare, telecommunications, media & entertainment, and others. In 2022, the BFSI segment accounted for the largest share of the tokenization market. Additionally, this segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to increasing data breaches in the BFSI sector and the rising adoption of payment security solutions to prevent fraud.
Based on geography, the tokenization market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the tokenization market. North America’s major market share is attributed to the rising adoption of online payment modes for transactions. Furthermore, the presence of major market players that provide payment networks for online transactions drives the growth of this regional market.
The key players operating in the tokenization market are Bluefin Payment Systems LLC (U.S.), Braintree (U.S.), Cybersource (U.S.), Elavon (U.S.), Ingenico (France), Broadcom, Inc. (U.S.), Thales Group (France), Shift4 Payments, LLC (U.S.), Signifyd (U.S.), TNS, Inc. (U.S.), Tokenex (U.S.), SISA Information Security Pvt. Ltd. (India), Stripe (U.S.), Geobridge Corporation (U.S.), MasterCard (U.S.), Verifone Systems Inc. (U.S.), Fiserv, Inc. (U.S.), Micro Focus (U.K.), and American Express (U.S.).
Key questions answered in the report:
- Which are the high-growth market segments based on offering, application, organization size, and end-use industry?
- What was the historical market size for tokenization?
- What are the market forecasts and estimates for the period 2023-2030?
- What are the major drivers, restraints, and opportunities in the tokenization market?
- Who are the major players in the tokenization market, and what are their market shares?
- How is the competitive landscape in the tokenization market?
- What are the recent developments in the tokenization market?
- What are the different strategies adopted by the major players in the tokenization market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the tokenization market, and how do they compete with the other players?
Scope of the report:
Tokenization Market, by Offering
- Solutions
- Services
- Integration Services
- Support Services
- Consulting Services
Tokenization Market, by Application
- Payment Security
- User Authentication
- Compliance Management
Tokenization Market, by Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
Tokenization Market, by End-use Industry
- BFSI
- Retail
- Travel & Hospitality
- Healthcare
- IT & Telecom
- Media & Entertainment
- Other End-use Industries
Tokenization Market, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Sweden
- Denmark
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Singapore
- Malaysia
- Indonesia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Israel
- Rest of the Middle East & Africa
Table of Contents
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency And Limitations
1.3.1. Currency
1.3.2. Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-Up Approach
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
2.4. Assumptions For the Study
3. Executive Summary
3.1. Overview
3.2. Market Analysis, by Offering
3.3. Market Analysis, by Application
3.4. Market Analysis, by Organization Size
3.5. Market Analysis, by End-use Industry
3.6. Market Analysis, by Geography
3.7. Competitive Analysis
4. The Impact of Covid-19 On the Global Tokenization Market
5. Market Insights
5.1. Introduction
5.2. Market Dynamics
5.2.1. Global Tokenization Market: Impact Analysis of Market Drivers (2023-2030)
5.2.1.1. The Proliferation of Digital Payment Methods
5.2.1.2. Stringent PCI DSS Regulations
5.2.1.3. Increasing Financial Frauds in Ecommerce
5.2.2. Global Tokenization Market: Impact Analysis of Market Restraint (2023-2030)
5.2.2.1. Adds A Layer of Complexity to The IT Structure
5.2.3. Global Tokenization Market: Impact Analysis of Market Opportunities (2023-2030)
5.2.3.1. Growing Inclination of Payment Applications in Different Industries
5.2.4. Global Tokenization Market: Impact Analysis of Market Challenges (2023-2030)
5.2.4.1. Low Awareness of Online Payments in Rural Areas
5.2.5. Global Tokenization Market Trends
5.2.5.1. Rising Demand for Cloud-Based Tokenization Solutions and Services
5.3. Case Studies: Tokenization Market
5.3.1. Case Study-A
5.3.2. Case Study-B
5.3.3. Case Study-C
5.3.4. Case Study-D
6. Global Tokenization Market, by Offering
6.1. Introduction
6.2. Solutions
6.3. Services
6.3.1. Support Services
6.3.2. Integration Services
6.3.3. Consulting Services
7. Global Tokenization Market, By Application
7.1. Introduction
7.2. Payment Security
7.3. User Authentication
7.4. Compliance Management
8. Global Tokenization Market, By Organization Size
8.1. Introduction
8.2. Large Enterprises
8.3. Small & Medium-Sized Enterprises
9. Global Tokenization Market, By End-use Industry
9.1. Introduction
9.2. BFSI
9.3. Retail
9.4. Travel & Hospitality
9.5. Healthcare
9.6. Media & Entertainment
9.7. It & Telecommunications
9.8. Other End-Use Industries
10. Tokenization Market, By Geography
10.1. Introduction
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.3. Asia-Pacific
10.3.1. China
10.3.2. India
10.3.3. Japan
10.3.4. Indonesia
10.3.5. Malaysia
10.3.6. Singapore
10.3.7. Rest Of Asia-Pacific
10.4. Europe
10.4.1. U.K.
10.4.2. Germany
10.4.3. France
10.4.4. Italy
10.4.5. Spain
10.4.6. Sweden
10.4.7. Denmark
10.4.8. Rest of Europe
10.5. Latin America
10.5.1. Mexico
10.5.2. Brazil
10.5.3. Rest of Latin America
10.6. Middle East & Africa
10.6.1. UAE
10.6.2. Israel
10.6.3. Rest of Middle East & Africa
11. Competitive Landscape
11.1. Introduction
11.2. Key Growth Strategies
11.3. Competitive Benchmarking
11.3.1. Industry Leaders
11.3.2. Market Differentiators
11.3.3. Vanguards
11.3.4. Emerging Companies
11.4. Vendor Market Positioning
11.5. Market Ranking by Key Players
12. Company Profiles
12.1. Bluefin Payment Systems LLC
12.1.1. Business Overview
12.1.2. Product Portfolio
12.1.3. Strategic Developments
12.2. Ingenico (A Subsidiary of Worldline [France])
12.2.1. Business Overview
12.2.2. Product Portfolio
12.2.3. Strategic Developments
12.3. CyberSource (A Subsidiary of Visa Inc. [U.S.])
12.3.1. Business Overview
12.3.2. Product Portfolio
12.3.3. Strategic Developments
12.4. Elavon (A Subsidiary of U.S. Bancorp) (U.S.)
12.4.1. Business Overview
12.4.2. Product Portfolio
12.4.3. Strategic Developments
12.5. Braintree (A Subsidiary of PayPal Holdings, Inc. [U.S.])
12.5.1. Business Overview
12.5.2. Product Portfolio
12.6. Broadcom Inc.
12.6.1. Business Overview
12.6.2. Product Portfolio
12.7. Thales Group
12.7.1. Business Overview
12.7.2. Product Portfolio
12.7.3. Strategic Developments
12.8. Shift4 Payments, LLC
12.8.1. Business Overview
12.8.2. Product Portfolio
12.8.3. Strategic Developments
12.9. Signifyd
12.9.1. Business Overview
12.9.2. Product Portfolio
12.9.3. Strategic Developments
12.10. TNS, Inc.
12.10.1. Business Overview
12.10.2. Product Portfolio
12.10.3. Strategic Developments
12.11. Tokenex
12.11.1. Business Overview
12.11.2. Product Portfolio
12.12. SISA Information Security Pvt. Ltd.
12.12.1. Business Overview
12.12.2. Product Portfolio
12.12.3. Strategic Developments
12.13. Stripe
12.13.1. Business Overview
12.13.2. Product Portfolio
12.13.3. Strategic Developments
12.14. Verifone Systems Inc.
12.14.1. Business Overview
12.14.2. Product Portfolio
12.14.3. Strategic Developments
12.15. Mastercard
12.15.1. Business Overview
12.15.2. Product Portfolio
12.15.3. Strategic Developments
12.16. American Express
12.16.1. Business Overview
12.16.2. Product Portfolio
12.16.3. Strategic Developments
12.17. Fiserv, Inc.
12.17.1. Business Overview
12.17.2. Product Portfolio
12.17.3. Strategic Developments
12.18. Micro Focus
12.18.1. Business Overview
12.18.2. Product Portfolio
12.18.3. Strategic Developments
12.19. Geobridge Corporation
12.19.1. Business Overview
12.19.2. Product Portfolio
13. Appendix
13.1. Questionnaire
13.2. Available Customization
Companies Mentioned
- Bluefin Payment Systems LLC (U.S.)
- Braintree (U.S.)
- Cybersource (U.S.)
- Elavon (U.S.)
- Ingenico (France)
- Broadcom Inc. (U.S.)
- Thales Group (France)
- Shift4 Payments LLC (U.S.)
- Signifyd (U.S.)
- TNS Inc. (U.S.)
- Tokenex (U.S.)
- SISA Information Security Pvt. Ltd. (India)
- Stripe (U.S.)
- Geobridge Corporation (U.S.)
- MasterCard (U.S.)
- Verifone Systems Inc. (U.S.)
- Fiserv Inc. (U.S.)
- Micro Focus (U.K.)
- American Express (U.S.).
