“The Tokenization Solution Market Research Report 2018-2023”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
The Tokenization Solution market is expected to grow significantly at a CAGR of over 22% during the forecast period (2018-2023).
Companies Include are: PAYMETRIC, INC., PROTEGRITY USA, INC., SYMANTEC CORPORATION, GEMALTO NV, HEWLETT PACKARD ENTERPRISE, FIRST DATA CORPORATION , CARDCONNECT CORPORATION, THALES E-SECURITY, INC., 3DELTA SYSTEMS, INC., CIPHERCLOUD INCORPORATION, CYBERSOURCE CORPORATION, LIAISON TECHNOLOGIES INC, FISERV, INC., and TOKENEX, LLC, amongst other.
The scope includes different Deployment modes of tokenization Solution market, such as on cloud. The regions considered under the scope of the report include North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
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-Tokenization Solution market is now gaining traction in various end-user industries, and has caught the eye of various organizations for better data security. Some of the prominent trends that the market is witnessing include, increasing adoption among payments gateways, and growing government regulations regarding usage of personal information are some main reasons owing to growth of tokenization solution market.
-However, concerns associated with data security, addressing vulnerabilities from EMV standards and with lack of expertise and lack of awareness regarding benefits offered by tokenization Solutions are some of the major hindrance for the growth of Tokenization Solution market.
Key Developments in the Market
May 2018: Symantec Corp., the worlds leading cyber security company, announced the opening of a new privacy research center, based in Saarbrucken, Germany. The new locations effort is two-fold, to give consumers greater control over their personal data and their online footprints, and provide governments and corporations additional tools to help them be responsible custodians of data they handle.
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Growing Demand for Secure Payment Gateways
The growing data breaching cases have created the demand for secure payments gateway, which is a major factor driving the demand for tokenization solution. According to Identity Theft Resource Center (ITRC), the data breaching cases in 2017 in USA increase by 44.7% as compared to 2016. Nearly 20% of breaches included credit and debit card information, an almost 6% increase from last year. Approximately 37% of all credit card fraud in the U.S. is related to counterfeit cards. These growing data breach cases are also increasing the financial losses due to it. Hence, thriving the demand for tokenization solution.
The Adoption is fastest on the Cloud Solutions
The adoption of tokenization solution is fastest on the cloud for the forecast period. The cloud offers many advantages over on-premises and is more accessible and less costly to deploy and maintain. It provides more flexibility and scalability and delivers product updates more regularly with little to no IT involvement. The growing cloud service providers are also helping SMEs to adopt tokenization solution. Though the data in the cloud is more expose to breach case, growing advancement in cloud industry has also encouraged enterprises to shift their data to the cloud model.
North America is dominating the Tokenization Solution Market
North America is the dominating region in tokenization solution market, owing to the earliest adoption of advanced technology in the payment gateway industry. Most of the tokenization solution vendors are American based, hence accounting the major portion of the revenue of tokenization solution market. The adoption of cloud technology is highest in the region, a vital reason for growing adoption of tokenization solution.
The report has 150 tables and figures browse the report description and TOC:
Influence of the Tokenization Solution market report:
-Comprehensive assessment of all opportunities and risk in the Tokenization Solution market.
– Tokenization Solution market recent innovations and major events.
-Detailed study of business strategies for growth of the Tokenization Solution market-leading players.
-Conclusive study about the growth plot of Tokenization Solution market for forthcoming years.
-In-depth understanding of market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the market.
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