Table of Content

"1    INTRODUCTION    29
1.1    INTRODUCTION TO COVID-19    29
1.2    COVID-19 HEALTH ASSESSMENT    29
FIGURE 1    COVID-19: GLOBAL PROPAGATION    29
FIGURE 2    COVID-19 PROPAGATION: SELECT COUNTRIES    30
1.3    COVID-19 ECONOMIC ASSESSMENT    31
FIGURE 3    REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020    31
1.3.1    COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT    32
FIGURE 4    CRITERIA IMPACTING THE GLOBAL ECONOMY    32
FIGURE 5    SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY    33
1.4    OBJECTIVES OF THE STUDY    34
1.5    MARKET DEFINITION    34
1.5.1    INCLUSIONS & EXCLUSIONS    35
1.6    MARKET SCOPE    35
1.6.1    MARKET SEGMENTATION    36
1.6.2    REGIONS COVERED    36
1.6.3    YEARS CONSIDERED FOR THE STUDY    37
1.7    CURRENCY    37
TABLE 1    UNITED STATES DOLLAR EXCHANGE RATE, 2017–2019    37
1.8    STAKEHOLDERS    38
1.9    SUMMARY OF CHANGES    38
2    RESEARCH METHODOLOGY    39
2.1    RESEARCH DATA    39
FIGURE 6    TOKENIZATION MARKET: RESEARCH DESIGN    40
2.1.1    SECONDARY DATA    41
2.1.2    PRIMARY DATA    41
2.1.2.1    Breakup of primary profiles    42
FIGURE 7    BREAKUP OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION    42
2.1.2.2    Key industry insights    42
2.2    DATA TRIANGULATION    43
2.3    MARKET SIZE ESTIMATION    44
FIGURE 8    TOKENIZATION MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES    44
FIGURE 9    MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 1 (SUPPLY-SIDE): REVENUE OF SERVICES FROM VENDORS    45
FIGURE 10    MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH (SUPPLY-SIDE): COLLECTIVE REVENUE OF VENDORS    46
FIGURE 11    MARKET SIZE ESTIMATION METHODOLOGY – (SUPPLY-SIDE): CAGR PROJECTIONS FROM THE SUPPLY SIDE    47
FIGURE 12    MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 2 (BOTTOM-UP): REVENUE GENERATED BY VENDORS FROM EACH APPLICATION    48
FIGURE 13    MARKET SIZE ESTIMATION METHODOLOGY–APPROACH 2 (DEMAND-SIDE): REVENUE GENERATED FROM VERTICALS (2/2)    48
2.4    RESEARCH ASSUMPTIONS    49
2.5    LIMITATIONS OF THE STUDY    50
3    EXECUTIVE SUMMARY    51
FIGURE 14    GLOBAL TOKENIZATION MARKET, 2018–2026 (USD MILLION)    52
FIGURE 15    FASTEST-GROWING SEGMENTS IN THE TOKENIZATION MARKET, 2021–2026    52
FIGURE 16    PAYMENT SECURITY SEGMENT EXPECTED TO ACCOUNT FOR THE LARGEST MARKET SIZE DURING THE FORECAST PERIOD    53
FIGURE 17    CLOUD SEGMENT EXPECTED TO ACCOUNT FOR A HIGHER MARKET SHARE DURING THE FORECAST PERIOD    53
FIGURE 18    LARGE ENTERPRISES SEGMENT EXPECTED TO ACCOUNT FOR A LARGER MARKET SIZE IN 2021    54
FIGURE 19    TOP VERTICALS IN THE TOKENIZATION MARKET, 2019-2026    55
FIGURE 20    TOKENIZATION MARKET: REGIONAL SNAPSHOT    56
4    PREMIUM INSIGHTS    58
4.1    OVERVIEW OF THE TOKENIZATION MARKET    58
FIGURE 21    GROWING ALIGNMENT OF CUSTOMERS TOWARD CONTACTLESS PAYMENTS AND RISING NEED TO MAINTAIN FRAUD LEVELS AND INCREASING FINANCIAL FRAUDS    58
4.2    TOKENIZATION MARKET, BY COMPONENT, 2021 VS. 2026    59
FIGURE 22    SOLUTIONS SEGMENT EXPECTED TO ACCOUNT FOR A LARGER MARKET SHARE IN 2021    59
4.3    TOKENIZATION MARKET, BY APPLICATION AREA, 2021 VS. 2026    59
FIGURE 23    PAYMENT SECURITY SEGMENT EXPECTED TO ACCOUNT FOR THE LARGEST MARKET SHARE IN 2021    59
4.4    TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2021 VS. 2026    60
FIGURE 24    MARKET FOR GATEWAY-BASED TOKENIZATION TECHNIQUE EXPECTED TO ACCOUNT FOR A LARGER MARKET SHARE IN 2021    60
4.5    TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021 VS. 2026    60
FIGURE 25    LARGE ENTERPRISES SEGMENT EXPECTED TO ACCOUNT FOR A LARGER MARKET SHARE IN 2021    60
4.6    TOKENIZATION MARKET, BY VERTICAL, 2021 VS. 2026    61
FIGURE 26    BFSI VERTICAL EXPECTED TO ACCOUNT FOR THE LARGEST MARKET SHARE BY 2026    61
4.7    TOKENIZATION MARKET: REGIONAL SCENARIO, 2021–2026    61
FIGURE 27    ASIA PACIFIC TO EMERGE AS THE BEST MARKET FOR INVESTMENTS IN
THE NEXT FIVE YEARS    61

5    MARKET OVERVIEW AND INDUSTRY TRENDS    62
5.1    INTRODUCTION    62
5.2    MARKET DYNAMICS    62
FIGURE 28    DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: TOKENIZATION MARKET    63
5.2.1    DRIVERS    63
5.2.1.1    Need to stay compliant and meet regulatory reporting standards    63
5.2.1.2    Growing need to ensure continuous customer experience and maintain fraud prevention levels due to increasing financial frauds    64
FIGURE 29    MAJOR BENEFITS DRIVING THE TOKENIZATION MARKET    64
5.2.1.3    Tokenization reducing the risk from data breaches    65
5.2.2    RESTRAINTS    65
5.2.2.1    Lack of knowledge and understanding about tokens and ambiguity between encryption and tokenization among end-users    65
TABLE 2    TOKENIZATION VS. ENCRYPTION    65
5.2.2.2    Increase in complexities in the implementation of tokenization and fraud prevention    66
5.2.3    OPPORTUNITIES    66
5.2.3.1    Rising demand for cloud-based tokenization solutions and services    66
5.2.3.2    Growing inclination of customers toward contactless payments    66
5.2.4    CHALLENGES    67
5.2.4.1    Lack of skilled workforce and poor management in creating a user adoption process    67
5.2.4.2    Challenges with regulatory alignment due to maximum decentralized blockchain-based platforms    67
5.3    CASE STUDY ANALYSIS    68
5.3.1    CASE STUDY 1: ORVIS    68
5.3.2    CASE STUDY 2: GOOGLE    68
5.3.3    CASE STUDY 3: BANKING CLIENT    69
5.4    PORTER’S FIVE FORCES ANALYSIS    70
TABLE 3    PORTER’S FIVE FORCES ANALYSIS: TOKENIZATION MARKET    70
FIGURE 30    PORTER’S FIVE FORCES ANALYSIS: TOKENIZATION MARKET    70
5.4.1    THREAT OF NEW ENTRANTS    71
5.4.2    THREAT OF SUBSTITUTES    71
5.4.3    BARGAINING POWER OF SUPPLIERS    71
5.4.4    BARGAINING POWER OF BUYERS    71
5.4.5    INTENSITY OF COMPETITIVE RIVALRY    72
5.5    COVID-19-DRIVEN MARKET DYNAMICS    72
5.5.1    DRIVERS AND OPPORTUNITIES    72
5.5.2    RESTRAINTS AND CHALLENGES    73

5.6    TECHNOLOGICAL OUTLOOK    73
5.6.1    CLOUD/SOFTWARE AS A SERVICE    73
5.6.2    BLOCKCHAIN TECHNOLOGY    73
5.6.3    IOT TECHNOLOGY    74
5.7    PRICING MODEL    74
5.8    VALUE CHAIN ANALYSIS    75
FIGURE 31    TOKENIZATION MARKET: VALUE CHAIN    75
5.9    ECOSYSTEM    76
FIGURE 32    TOKENIZATION MARKET: ECOSYSTEM    76
5.10    REGULATORY IMPLICATIONS AND INDUSTRY STANDARDS    76
5.10.1    GENERAL DATA PROTECTION REGULATION    76
5.10.2    PAYMENT CARD INDUSTRY - DATA SECURITY STANDARD    77
5.10.3    HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT    77
5.10.4    GRAMM-LEACH-BLILEY ACT    77
5.10.5    PAYMENT SERVICES DIRECTIVE 2    77
5.10.6    SARBANES-OXLEY ACT    77
5.10.7    SOC2    78
5.11    PATENT ANALYSIS    78
TABLE 4    TOKENIZATION MARKET: PATENTS    78
TABLE 5    TOP 10 PATENT OWNERS (US)    79
FIGURE 33    TOP 10 COMPANIES WITH THE HIGHEST NUMBER OF PATENTS    79
5.12    TRENDS/DISRUPTIONS IMPACTING BUYERS    80
FIGURE 34    TOKENIZATION MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS    80
6    TOKENIZATION MARKET, BY COMPONENT    81
6.1    INTRODUCTION    82
FIGURE 35    SERVICES SEGMENT EXPECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD    82
TABLE 6    TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    82
TABLE 7    TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    82
TABLE 8    COMPONENTS: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    83
TABLE 9    COMPONENTS: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    83
6.2    SOLUTIONS    83
TABLE 10    SOLUTIONS: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    84
TABLE 11    SOLUTIONS: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    84
6.2.1    SOLUTIONS: TOKENIZATION MARKET DRIVERS    84
6.2.2    SOLUTIONS: COVID-19 IMPACT    84

6.3    SERVICES    85
TABLE 12    SERVICES: TOKENIZATION MARKET, BY REGION, 2015–2020 (USD MILLION)    85
TABLE 13    SERVICES: TOKENIZATION MARKET, BY REGION, 2021–2026 (USD MILLION)    85
6.3.1    SERVICES: TOKENIZATION MARKET DRIVERS    85
6.3.2    SERVICES: COVID-19 IMPACT    86
7    TOKENIZATION MARKET, BY SERVICE    87
7.1    INTRODUCTION    88
FIGURE 36    MANAGED SERVICES SEGENT EXPECTED TO ACHIEVE A HIGHER CAGR DURING THE FORECAST PERIOD    88
TABLE 14    TOKENIZATION MARKET, BY SERVICE, 2015–2020 (USD MILLION)    88
TABLE 15    TOKENIZATION MARKET, BY SERVICE, 2021–2026 (USD MILLION)    89
7.2    PROFESSIONAL SERVICES    89
TABLE 16    PROFESSIONAL SERVICES: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    89
TABLE 17    PROFESSIONAL SERVICES: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    89
7.2.1    PROFESSIONAL SERVICES: TOKENIZATION MARKET DRIVERS    90
7.2.2    PROFESSIONAL SERVICES: COVID-19 IMPACT    90
7.3    MANAGED SERVICES    90
TABLE 18    MANAGED SERVICES: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    90
TABLE 19    MANAGED SERVICES: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    91
7.3.1    MANAGED SERVICES: TOKENIZATION MARKET DRIVERS    91
7.3.2    MANAGED SERVICES: COVID-19 IMPACT    91
8    TOKENIZATION MARKET, BY APPLICATION AREA    92
8.1    INTRODUCTION    93
FIGURE 37    PAYMENT SECURITY SEGMENT EXPECTED TO ACHIEVE THE HIGHEST CAGR DURING THE FORECAST PERIOD    93
TABLE 20    TOKENIZATION MARKET, BY APPLICATION AREA, 2015–2020 (USD MILLION)    93
TABLE 21    TOKENIZATION MARKET, BY APPLICATION AREA, 2021–2026 (USD MILLION)    94
TABLE 22    APPLICATION AREAS: TOKENIZATION MARKET, BY REGION, 2015–2020 (USD MILLION)    94
TABLE 23    APPLICATION AREAS: TOKENIZATION MARKET, BY REGION, 2021–2026 (USD MILLION)    94
8.2    PAYMENT SECURITY    95
TABLE 24    PAYMENT SECURITY: TOKENIZATION MARKET, BY REGION, 2015–2020 (USD MILLION)    95
TABLE 25    PAYMENT SECURITY: TOKENIZATION MARKET, BY REGION, 2021–2026 (USD MILLION)    95
8.2.1    PAYMENT SECURITY: TOKENIZATION MARKET DRIVERS    95
8.2.2    PAYMENT SECURITY: COVID-19 IMPACT    96

8.3    USER AUTHENTICATION    96
TABLE 26    USER AUTHENTICATION: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    96
TABLE 27    USER AUTHENTICATION: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    96
8.3.1    USER AUTHENTICATION: TOKENIZATION MARKET DRIVERS    97
8.3.2    USER AUTHENTICATION: COVID-19 IMPACT    97
8.4    COMPLIANCE MANAGEMENT    97
TABLE 28    COMPLIANCE MANAGEMENT: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    97
TABLE 29    COMPLIANCE MANAGEMENT: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    98
8.4.1    COMPLIANCE MANAGEMENT: TOKENIZATION MARKET DRIVERS    98
8.4.2    COMPLIANCE MANAGEMENT: COVID-19 IMPACT    98
9    TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE    99
9.1    INTRODUCTION    100
FIGURE 38    API-BASED SEGMENT EXPECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD    100
TABLE 30    TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE,
2015–2020 (USD MILLION)    100
TABLE 31    TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE,
2021–2026 (USD MILLION)    101
TABLE 32    TOKENIZATION TECHNIQUES: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    101
TABLE 33    TOKENIZATION TECHNIQUES: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    101
9.2    APPLICATION PROGRAMMING INTERFACE-BASED    102
TABLE 34    APPLICATION PROGRAMMING INTERFACE-BASED: TOKENIZATION MARKET, BY REGION, 2015–2020 (USD MILLION)    102
TABLE 35    APPLICATION PROGRAMMING INTERFACE-BASED: TOKENIZATION MARKET, BY REGION, 2021–2026 (USD MILLION)    102
9.2.1    APPLICATION PROGRAMMING INTERFACE-BASED: TOKENIZATION MARKET DRIVERS    103
9.2.2    APPLICATION PROGRAMMING INTERFACE-BASED: COVID-19 IMPACT    103
9.3    GATEWAY-BASED    103
9.3.1    GATEWAY-BASED: TOKENIZATION MARKET DRIVERS    103
9.3.2    GATEWAY-BASED: COVID-19 IMPACT    103
TABLE 36    GATEWAY-BASED: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    103
TABLE 37    GATEWAY-BASED: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    104

10    TOKENIZATION MARKET, BY DEPLOYMENT MODE    105
10.1    INTRODUCTION    106
FIGURE 39    CLOUD SEGMENT EXPECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD    106
TABLE 38    TOKENIZATION MARKET, BY DEPLOYMENT MODE,
2015–2020 (USD MILLION)    106
TABLE 39    TOKENIZATION MARKET, BY DEPLOYMENT MODE,
2021–2026 (USD MILLION)    106
TABLE 40    DEPLOYMENT MODES: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    107
TABLE 41    DEPLOYMENT MODES: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    107
10.2    CLOUD    107
TABLE 42    CLOUD: TOKENIZATION MARKET, BY REGION, 2015–2020 (USD MILLION)    108
TABLE 43    CLOUD: TOKENIZATION MARKET, BY REGION, 2021–2026 (USD MILLION)    108
10.2.1    CLOUD: TOKENIZATION MARKET DRIVERS    108
10.2.2    CLOUD: COVID-19 IMPACT    108
10.3    ON-PREMISES    109
TABLE 44    ON-PREMISES: TOKENIZATION MARKET, BY REGION,
 2015–2020 (USD MILLION)    109
TABLE 45    ON-PREMISES: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    109
10.3.1    ON-PREMISES: TOKENIZATION MARKET DRIVERS    109
10.3.2    ON-PRMISES: COVID-19 IMPACT    110
11    TOKENIZATION MARKET, BY ORGANIZATION SIZE    111
11.1    INTRODUCTION    112
FIGURE 40    SMES SEGMENT EXPECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD    112
TABLE 46    TOKENIZATION MARKET, BY ORGANIZATION SIZE,
2015–2020 (USD MILLION)    112
TABLE 47    TOKENIZATION MARKET, BY ORGANIZATION SIZE,
2021–2026 (USD MILLION)    112
TABLE 48    ORGANIZATION SIZE: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    113
TABLE 49    ORGANIZATION SIZE: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    113
11.2    SMALL AND MEDIUM-SIZED ENTERPRISES    113
TABLE 50    SMALL AND MEDIUM-SIZED ENTERPRISES: TOKENIZATION MARKET,
BY REGION, 2015–2020 (USD MILLION)    114
TABLE 51    SMALL AND MEDIUM-SIZED ENTERPRISES: TOKENIZATION MARKET,
BY REGION, 2021–2026 (USD MILLION)    114
11.2.1    SMALL AND MEDIUM-SIZED ENTERPRISES: TOKENIZATION MARKET DRIVERS    114
11.2.2    SMALL AND MEDIUM-SIZED ENTERPRISES: COVID-19 IMPACT    114

11.3    LARGE ENTERPRISES    115
TABLE 52    LARGE ENTERPRISES: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    115
TABLE 53    LARGE ENTERPRISES: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    115
11.3.1    LARGE ENTERPRISES: TOKENIZATION MARKET DRIVERS    115
11.3.2    LARGE ENTERPRISES: COVID-19 IMPACT    116
12    TOKENIZATION MARKET, BY VERTICAL    117
12.1    INTRODUCTION    118
FIGURE 41    RETAIL & ECOMMERCE SEGMENT EXPECTED TO ACHIEVE THE HIGHEST CAGR DURING THE FORECAST PERIOD    118
TABLE 54    TOKENIZATION MARKET, BY VERTICAL, 2015–2020 (USD MILLION)    119
TABLE 55    TOKENIZATION MARKET, BY VERTICAL, 2021–2026 (USD MILLION)    119
TABLE 56    VERTICALS: TOKENIZATION MARKET, BY REGION, 2015–2020 (USD MILLION)    119
TABLE 57    VERTICALS: TOKENIZATION MARKET, BY REGION, 2021–2026 (USD MILLION)    120
12.2    BANKING, FINANCIAL SERVICES, AND INSURANCE    120
12.2.1    BANKING, FINANCIAL SERVICES, AND INSURANCE: TOKENIZATION MARKET DRIVERS    120
12.2.2    BANKING, FINANCIAL SERVICES, AND INSURANCE: COVID-19 IMPACT    120
TABLE 58    BANKING, FINANCIAL SERVICES, AND INSURANCE: TOKENIZATION MARKET, BY REGION, 2015–2020 (USD MILLION)    121
TABLE 59    BANKING, FINANCIAL SERVICES, AND INSURANCE: TOKENIZATION MARKET, BY REGION, 2021–2026 (USD MILLION)    121
12.3    HEALTHCARE    121
12.3.1    HEALTHCARE: TOKENIZATION MARKET DRIVERS    122
12.3.2    HEALTHCARE: COVID-19 IMPACT    122
TABLE 60    HEALTHCARE: TOKENIZATION MARKET, BY REGION, 2015–2020 (USD MILLION)    122
TABLE 61    HEALTHCARE: TOKENIZATION MARKET, BY REGION, 2021–2026 (USD MILLION)    122
12.4    INFORMATION TECHNOLOGY AND INFORMATION TECHNOLOGY- ENABLED SERVICES    123
12.4.1    INFORMATION TECHNOLOGY AND INFORMATION TECHNOLOGY-ENABLED SERVICES: TOKENIZATION MARKET DRIVERS    123
12.4.2    INFORMATION TECHNOLOGY AND INFORMATION TECHNOLOGY-ENABLED SERVICES: COVID-19 IMPACT    123
TABLE 62    INFORMATION TECHNOLOGY AND INFORMATION TECHNOLOGY- ENABLED SERVICES: TOKENIZATION MARKET, BY REGION, 2015–2020 (USD MILLION)    123
TABLE 63    INFORMATION TECHNOLOGY AND INFORMATION TECHNOLOGY- ENABLED SERVICES: TOKENIZATION MARKET, BY REGION, 2021–2026 (USD MILLION)    124
12.5    GOVERNMENT    124
12.5.1    GOVERNMENT: TOKENIZATION MARKET DRIVERS    124
12.5.2    GOVERNMENT: COVID-19 IMPACT    124
TABLE 64    GOVERNMENT: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    125
TABLE 65    GOVERNMENT: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    125
12.6    RETAIL & ECOMMERCE    125
12.6.1    RETAIL & ECOMMERCE: TOKENIZATION MARKET DRIVERS    125
12.6.2    RETAIL & ECOMMERCE: COVID-19 IMPACT    126
TABLE 66    RETAIL & ECOMMERCE: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    126
TABLE 67    RETAIL AND ECOMMERCE: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    126
12.7    ENERGY & UTILITIES    127
12.7.1    ENERGY & UTILITIES: TOKENIZATION MARKET DRIVERS    127
12.7.2    ENERGY & UTILITIES: COVID-19 IMPACT    127
TABLE 68    ENERGY & UTILITIES: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    127
TABLE 69    ENERGY & UTILITIES: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    128
12.8    OTHER VERTICALS    128
12.8.1    OTHER VERTICALS: TOKENIZATION MARKET DRIVERS    128
12.8.2    OTHER VERTICALS: COVID-19 IMPACT    129
TABLE 70    OTHER VERTICALS: TOKENIZATION MARKET, BY REGION,
2015–2020 (USD MILLION)    129
TABLE 71    OTHER VERTICALS: TOKENIZATION MARKET, BY REGION,
2021–2026 (USD MILLION)    129
13    TOKENIZATION MARKET, BY REGION    130
13.1    INTRODUCTION    131
FIGURE 42    NORTH AMERICA EXPECTED TO LEAD THE TOKENIZATION MARKET FROM 2021 TO 2026    131
FIGURE 43    ASIA PACIFIC EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD    132
TABLE 72    TOKENIZATION MARKET, BY REGION, 2015–2020 (USD MILLION)    132
TABLE 73    TOKENIZATION MARKET, BY REGION, 2021–2026 (USD MILLION)    133
13.2    NORTH AMERICA    133
13.2.1    NORTH AMERICA: TOKENIZATION MARKET DRIVERS    133
13.2.2    NORTH AMERICA: COVID-19 IMPACT    134
FIGURE 44    NORTH AMERICA: TOKENIZATION MARKET SNAPSHOT    135
TABLE 74    NORTH AMERICA: TOKENIZATION MARKET, BY COMPONENT,
2015–2020 (USD MILLION)    135
TABLE 75    NORTH AMERICA: TOKENIZATION MARKET, BY COMPONENT,
2021–2026 (USD MILLION)    135
TABLE 76    NORTH AMERICA: TOKENIZATION MARKET, BY SERVICE,
 2015–2020 (USD MILLION)    136
TABLE 77    NORTH AMERICA: TOKENIZATION MARKET, BY SERVICE,
2021–2026 (USD MILLION)    136
TABLE 78    NORTH AMERICA: TOKENIZATION MARKET, BY APPLICATION AREA,
2015–2020 (USD MILLION)    136
TABLE 79    NORTH AMERICA: TOKENIZATION MARKET, BY APPLICATION AREA, 2021–2026 (USD MILLION)    136
TABLE 80    NORTH AMERICA: TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2015–2020 (USD MILLION)    137
TABLE 81    NORTH AMERICA: TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2021–2026 (USD MILLION)    137
TABLE 82    NORTH AMERICA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    137
TABLE 83    NORTH AMERICA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    137
TABLE 84    NORTH AMERICA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    138
TABLE 85    NORTH AMERICA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    138
TABLE 86    NORTH AMERICA: TOKENIZATION MARKET, BY VERTICAL, 2015–2020 (USD MILLION)    138
TABLE 87    NORTH AMERICA: TOKENIZATION MARKET, BY VERTICAL, 2021–2026 (USD MILLION)    139
TABLE 88    NORTH AMERICA: TOKENIZATION MARKET, BY COUNTRY, 2015–2020 (USD MILLION)    139
TABLE 89    NORTH AMERICA: TOKENIZATION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)    139
13.2.3    US    139
TABLE 90    UNITED STATES: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    140
TABLE 91    UNITED STATES: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    140
TABLE 92    UNITED STATES: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    140
TABLE 93    UNITED STATES: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    141
TABLE 94    UNITED STATES: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    141
TABLE 95    UNITED STATES: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    141
13.2.4    CANADA    141
TABLE 96    CANADA: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    142
TABLE 97    CANADA: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    142
TABLE 98    CANADA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    142
TABLE 99    CANADA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    142
TABLE 100    CANADA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    143
TABLE 101    CANADA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    143

13.3    EUROPE    143
13.3.1    EUROPE: TOKENIZATION MARKET DRIVERS    143
13.3.2    EUROPE: COVID-19 IMPACT    144
TABLE 102    EUROPE: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    145
TABLE 103    EUROPE: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    145
TABLE 104    EUROPE: TOKENIZATION MARKET, BY SERVICE, 2015–2020 (USD MILLION)    145
TABLE 105    EUROPE: TOKENIZATION MARKET, BY SERVICE, 2021–2026 (USD MILLION)    145
TABLE 106    EUROPE: TOKENIZATION MARKET, BY APPLICATION AREA, 2015–2020 (USD MILLION)    146
TABLE 107    EUROPE: TOKENIZATION MARKET, BY APPLICATION AREA, 2021–2026 (USD MILLION)    146
TABLE 108    EUROPE: TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2015–2020 (USD MILLION)    146
TABLE 109    EUROPE: TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2021–2026 (USD MILLION)    146
TABLE 110    EUROPE: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    147
TABLE 111    EUROPE: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    147
TABLE 112    EUROPE: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    147
TABLE 113    EUROPE: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    147
TABLE 114    EUROPE: TOKENIZATION MARKET, BY VERTICAL, 2015–2020 (USD MILLION)    148
TABLE 115    EUROPE: TOKENIZATION MARKET, BY VERTICAL, 2021–2026 (USD MILLION)    148
TABLE 116    EUROPE: TOKENIZATION MARKET, BY COUNTRY, 2015–2020 (USD MILLION)    148
TABLE 117    EUROPE: TOKENIZATION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)    149
13.3.3    UK    149
TABLE 118    UNITED KINGDOM: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    149
TABLE 119    UNITED KINGDOM: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    149
TABLE 120    UNITED KINGDOM: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    150
TABLE 121    UNITED KINGDOM: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    150
TABLE 122    UNITED KINGDOM: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    150
TABLE 123    UNITED KINGDOM: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    150

13.3.4    GERMANY    151
TABLE 124    GERMANY: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    151
TABLE 125    GERMANY: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    151
TABLE 126    GERMANY: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    151
TABLE 127    GERMANY: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    152
TABLE 128    GERMANY: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    152
TABLE 129    GERMANY: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    152
13.3.5    FRANCE    152
TABLE 130    FRANCE: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    153
TABLE 131    FRANCE: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    153
TABLE 132    FRANCE: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    153
TABLE 133    FRANCE: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    153
TABLE 134    FRANCE: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    153
TABLE 135    FRANCE: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    154
13.3.6    REST OF EUROPE    154
TABLE 136    REST OF EUROPE: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    154
TABLE 137    REST OF EUROPE: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    154
TABLE 138    REST OF EUROPE: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    155
TABLE 139    REST OF EUROPE: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    155
TABLE 140    REST OF EUROPE: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    155
TABLE 141    REST OF EUROPE: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    155
13.4    ASIA PACIFIC    156
13.4.1    ASIA PACIFIC: TOKENIZATION MARKET DRIVERS    156
13.4.2    ASIA PACIFIC: COVID-19 IMPACT    156
FIGURE 45    ASIA PACIFIC: MARKET SNAPSHOT    157
TABLE 142    ASIA PACIFIC: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    158
TABLE 143    ASIA PACIFIC: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    158
TABLE 144    ASIA PACIFIC: TOKENIZATION MARKET, BY SERVICE, 2015–2020 (USD MILLION)    158
TABLE 145    ASIA PACIFIC: TOKENIZATION MARKET, BY SERVICE, 2021–2026 (USD MILLION)    158
TABLE 146    ASIA PACIFIC: TOKENIZATION MARKET, BY APPLICATION AREA, 2015–2020 (USD MILLION)    159
TABLE 147    ASIA PACIFIC: TOKENIZATION MARKET, BY APPLICATION AREA, 2021–2026 (USD MILLION)    159
TABLE 148    ASIA PACIFIC: TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2015–2020 (USD MILLION)    159
TABLE 149    ASIA PACIFIC: TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2021–2026 (USD MILLION)    159
TABLE 150    ASIA PACIFIC: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    160
TABLE 151    ASIA PACIFIC: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    160
TABLE 152    ASIA PACIFIC: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    160
TABLE 153    ASIA PACIFIC: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    160
TABLE 154    ASIA PACIFIC: TOKENIZATION MARKET, BY VERTICAL, 2015–2020 (USD MILLION)    161
TABLE 155    ASIA PACIFIC: TOKENIZATION MARKET, BY VERTICAL, 2021–2026 (USD MILLION)    161
TABLE 156    ASIA PACIFIC: TOKENIZATION MARKET, BY COUNTRY, 2015–2020 (USD MILLION)    161
TABLE 157    ASIA PACIFIC: TOKENIZATION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)    162
13.4.3    CHINA    162
TABLE 158    CHINA: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    162
TABLE 159    CHINA: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    162
TABLE 160    CHINA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    163
TABLE 161    CHINA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    163
TABLE 162    CHINA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    163
TABLE 163    CHINA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    163
13.4.4    JAPAN    163
TABLE 164    JAPAN: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    164
TABLE 165    JAPAN: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    164
TABLE 166    JAPAN: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    164
TABLE 167    JAPAN: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    164
TABLE 168    JAPAN: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    165
TABLE 169    JAPAN: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    165
13.4.5    AUSTRALIA & NEW ZEALAND    165
TABLE 170    AUSTRALIA & NEW ZEALAND: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    165
TABLE 171    AUSTRALIA & NEW ZEALAND: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    166
TABLE 172    AUSTRALIA & NEW ZEALAND: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    166
TABLE 173    AUSTRALIA & NEW ZEALAND: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    166
TABLE 174    AUSTRALIA & NEW ZEALAND: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    166
TABLE 175    AUSTRALIA & NEW ZEALAND: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    167
13.4.6    REST OF ASIA PACIFIC    167
TABLE 176    REST OF APAC: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    167
TABLE 177    REST OF APAC: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    168
TABLE 178    REST OF APAC: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    168
TABLE 179    REST OF APAC: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    168
TABLE 180    REST OF APAC: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    168
TABLE 181    REST OF APAC: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    169
13.5    MIDDLE EAST & AFRICA    169
13.5.1    MIDDLE EAST & AFRICA: TOKENIZATION MARKET DRIVERS    169
13.5.2    MIDDLE EAST & AFRICA: COVID-19 IMPACT    170
TABLE 182    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    170
TABLE 183    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    170
TABLE 184    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY SERVICE, 2015–2020 (USD MILLION)    171
TABLE 185    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY SERVICE, 2021–2026 (USD MILLION)    171
TABLE 186    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY APPLICATION AREA, 2015–2020 (USD MILLION)    171
TABLE 187    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY APPLICATION AREA, 2021–2026 (USD MILLION)    171
TABLE 188    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2015–2020 (USD MILLION)    172
TABLE 189    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2021–2026 (USD MILLION)    172
TABLE 190    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    172
TABLE 191    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    172
TABLE 192    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    173
TABLE 193    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    173
TABLE 194    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY VERTICAL, 2015–2020 (USD MILLION)    173
TABLE 195    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY VERTICAL, 2021–2026 (USD MILLION)    174
TABLE 196    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY COUNTRY, 2015–2020 (USD MILLION)    174
TABLE 197    MIDDLE EAST & AFRICA: TOKENIZATION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)    174
13.5.3    MIDDLE EAST    175
TABLE 198    MIDDLE EAST: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    175
TABLE 199    MIDDLE EAST: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    175
TABLE 200    MIDDLE EAST: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    175
TABLE 201    MIDDLE EAST: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    176
TABLE 202    MIDDLE EAST: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    176
TABLE 203    MIDDLE EAST: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    176
13.5.4    AFRICA    176
TABLE 204    AFRICA: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    177
TABLE 205    AFRICA: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    177
TABLE 206    AFRICA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    177
TABLE 207    AFRICA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    177
TABLE 208    AFRICA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    177
TABLE 209    AFRICA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    178
13.6    LATIN AMERICA    178
13.6.1    LATIN AMERICA: TOKENIZATION MARKET DRIVERS    178
13.6.2    LATIN AMERICA: COVID-19 IMPACT    179
TABLE 210    LATIN AMERICA: TOKENIZATION MARKET, BY COMPONENT,
2015–2020 (USD MILLION)    179
TABLE 211    LATIN AMERICA: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    179
TABLE 212    LATIN AMERICA: TOKENIZATION MARKET, BY SERVICE, 2015–2020 (USD MILLION)    179
TABLE 213    LATIN AMERICA: TOKENIZATION MARKET, BY SERVICE, 2021–2026 (USD MILLION)    180
TABLE 214    LATIN AMERICA: TOKENIZATION MARKET, BY APPLICATION AREA, 2015–2020 (USD MILLION)    180
TABLE 215    LATIN AMERICA: TOKENIZATION MARKET, BY APPLICATION AREA, 2021–2026 (USD MILLION)    180
TABLE 216    LATIN AMERICA: TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2015–2020 (USD MILLION)    180
TABLE 217    LATIN AMERICA: TOKENIZATION MARKET, BY TOKENIZATION TECHNIQUE, 2021–2026 (USD MILLION)    181
TABLE 218    LATIN AMERICA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    181
TABLE 219    LATIN AMERICA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    181
TABLE 220    LATIN AMERICA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    181
TABLE 221    LATIN AMERICA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    182
TABLE 222    LATIN AMERICA: TOKENIZATION MARKET, BY VERTICAL, 2015–2020 (USD MILLION)    182
TABLE 223    LATIN AMERICA: TOKENIZATION MARKET, BY VERTICAL, 2021–2026 (USD MILLION)    182
TABLE 224    LATIN AMERICA: TOKENIZATION MARKET, BY COUNTRY, 2015–2020 (USD MILLION)    183
TABLE 225    LATIN AMERICA: TOKENIZATION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)    183
13.6.3    BRAZIL    183
TABLE 226    BRAZIL: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    183
TABLE 227    BRAZIL: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    184
TABLE 228    BRAZIL: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    184
TABLE 229    BRAZIL: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    184
TABLE 230    BRAZIL: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    184
TABLE 231    BRAZIL: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    184
13.6.4    MEXICO    185
TABLE 232    MEXICO: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    185
TABLE 233    MEXICO: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    185
TABLE 234    MEXICO: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    185
TABLE 235    MEXICO: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    186
TABLE 236    MEXICO: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    186
TABLE 237    MEXICO: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    186
13.6.5    REST OF LATIN AMERICA    186
TABLE 238    REST OF LATIN AMERICA: TOKENIZATION MARKET, BY COMPONENT, 2015–2020 (USD MILLION)    187
TABLE 239    REST OF LATIN AMERICA: TOKENIZATION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)    187
TABLE 240    REST OF LATIN AMERICA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2015–2020 (USD MILLION)    187
TABLE 241    REST OF LATIN AMERICA: TOKENIZATION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)    187
TABLE 242    REST OF LATIN AMERICA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2015–2020 (USD MILLION)    188
TABLE 243    REST OF LATIN AMERICA: TOKENIZATION MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION)    188"
"14    COMPETITIVE LANDSCAPE    189
14.1    OVERVIEW    189
14.2    MARKET EVALUATION FRAMEWORK    189
FIGURE 46    MARKET EVALUATION FRAMEWORK, 2019–2021    189
14.3    KEY MARKET DEVELOPMENTS    190
14.3.1    PRODUCT LAUNCHES & ENHANCEMENTS    190
TABLE 244    PRODUCT LAUNCHES & ENHANCEMENTS, 2020–2021    190
14.3.2    DEALS    191
TABLE 245    DEALS, 2019–2021    191
14.3.3    OTHERS    198
TABLE 246    OTHERS, 2019–2021    198
14.4    MARKET SHARE ANALYSIS OF TOP PLAYERS    200
TABLE 247    TOKENIZATION MARKET: DEGREE OF COMPETITION    200
FIGURE 47    MARKET SHARE ANALYSIS OF COMPANIES IN THE TOKENIZATION MARKET    200
14.5    HISTORICAL REVENUE ANALYSIS    201
FIGURE 48    HISTORICAL THREE-YEAR REVENUE ANALYSIS OF LEADING PLAYERS    201
14.6    COMPANY EVALUATION MATRIX    202
14.7    COMPANY EVALUATION QUADRANT METHODOLOGY AND DEFINITIONS    202
TABLE 248    COMPANY EVALUATION QUADRANT: CRITERIA    202
14.7.1    STARS    202
14.7.2    EMERGING LEADERS    202
14.7.3    PERVASIVE PLAYERS    203
14.7.4    PARTICIPANTS    203
FIGURE 49    TOKENIZATION MARKET (GLOBAL) KEY COMPANY EVALUATION MATRIX, 2021    203
14.8    COMPANY PRODUCT FOOTPRINT ANALYSIS    204
TABLE 249    COMPANY PRODUCT FOOTPRINT    204
TABLE 250    COMPANY APPLICATION FOOTPRINT    205
TABLE 251    COMPANY INDUSTRY FOOTPRINT    206
TABLE 252    COMPANY REGION FOOTPRINT    207
14.9    RANKING OF KEY PLAYERS    208
FIGURE 50    RANKING OF KEY PLAYERS IN THE TOKENIZATION MARKET, 2021    208
14.10    STARTUP/SME EVALUATION MATRIX METHODOLOGY AND DEFINITIONS    209
FIGURE 51    STARTUP/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE    209
14.10.1    PROGRESSIVE COMPANIES    209
14.10.2    RESPONSIVE COMPANIES    209
14.10.3    DYNAMIC COMPANIES    210
14.10.4    STARTING BLOCKS    210
FIGURE 52    TOKENIZATION MARKET (GLOBAL) STARTUP/SME COMPANY EVALUATION MATRIX, 2021    210
15    COMPANY PROFILES    211
15.1    KEY PLAYERS    211
(Business Overview, Solutions & Services, Key Insights, Recent Developments, MnM View)*
15.1.1    FISERV    211
TABLE 253    FISERV: BUSINESS OVERVIEW    211
FIGURE 53    FISERV: COMPANY SNAPSHOT    212
TABLE 254    FISERV: SOLUTIONS AND SERVICES OFFERED    212
TABLE 255    FISERV: NEW SOLUTION/SERVICE LAUNCHES    213
TABLE 256    FISERV: DEALS    213
TABLE 257    FISERV: TOKENIZATION MARKET: OTHERS    215
15.1.2    MASTERCARD    217
TABLE 258    MASTERCARD: BUSINESS OVERVIEW    217
FIGURE 54    MASTERCARD: COMPANY SNAPSHOT    218
TABLE 259    MASTERCARD: SOLUTIONS AND SERVICES OFFERED    218
TABLE 260    MASTERCARD: DEALS    219
TABLE 261    MASTERCARD: TOKENIZATION MARKET: OTHERS    220
15.1.3    VISA    222
TABLE 262    VISA: BUSINESS OVERVIEW    222
FIGURE 55    VISA: COMPANY SNAPSHOT    223
TABLE 263    VISA: SOLUTIONS AND SERVICES OFFERED    223
TABLE 264    VISA: NEW SOLUTION/SERVICE LAUNCHES    224
TABLE 265    VISA: DEALS    224
TABLE 266    VISA: OTHERS    225

15.1.4    MICRO FOCUS    227
TABLE 267    MICRO FOCUS: BUSINESS OVERVIEW    227
FIGURE 56    MICRO FOCUS: COMPANY SNAPSHOT    228
TABLE 268    MICRO FOCUS: SOLUTIONS AND SERVICES OFFERED    228
TABLE 269    MICRO FOCUS: NEW SOLUTION/SERVICE LAUNCHES    229
TABLE 270    MICRO FOCUS: DEALS    229
15.1.5    AMERICAN EXPRESS    232
TABLE 271    AMERICAN EXPRESS: BUSINESS OVERVIEW    232
FIGURE 57    AMERICAN EXPRESS: COMPANY SNAPSHOT    233
TABLE 272    AMERICAN EXPRESS: SOLUTIONS AND SERVICES OFFERED    233
TABLE 273    AMERICAN EXPRESS: DEALS    234
15.1.6    THALES    236
TABLE 274    THALES: BUSINESS OVERVIEW    236
FIGURE 58    THALES: COMPANY SNAPSHOT    237
TABLE 275    THALES: SOLUTIONS AND SERVICES OFFERED    237
TABLE 276    THALES: NEW SOLUTION/SERVICE LAUNCHES    238
TABLE 277    THALES: DEALS    238
15.1.7    LOOKOUT    240
TABLE 278    LOOKOUT: BUSINESS OVERVIEW    240
TABLE 279    LOOKOUT: SOLUTIONS AND SERVICES OFFERED    240
TABLE 280    LOOKOUT: DEALS    241
15.1.8    FUTUREX    242
TABLE 281    FUTUREX: BUSINESS OVERVIEW    242
TABLE 282    FUTUREX: SOLUTIONS AND SERVICES OFFERED    242
TABLE 283    FUTUREX: NEW SOLUTION/SERVICE LAUNCHES    243
TABLE 284    FUTUREX: DEALS    243
TABLE 285    FUTUREX: OTHERS    244
15.1.9    CARDCONNECT    245
TABLE 286    CARDCONNECT: BUSINESS OVERVIEW    245
TABLE 287    CARDCONNECT: SOLUTIONS AND SERVICES OFFERED    245
15.1.10    FIS    246
TABLE 288    FIS: BUSINESS OVERVIEW    246
FIGURE 59    FIS: COMPANY SNAPSHOT    247
TABLE 289    FIS: SOLUTIONS AND SERVICES OFFERED    247
TABLE 290    FIS: DEALS    248
TABLE 291    FIS: OTHERS    248
*Details on Business Overview, Solutions & Services, Key Insights, Recent Developments, MnM View might not be captured in case of unlisted companies.
15.2    OTHER PLAYERS    249
15.2.1    HELPSYSTEMS    249
15.2.2    MEAWALLET    250
15.2.3    TOKENEX    251
15.2.4    ENTRUST    252
15.2.5    VERIFONE    252
15.2.6    BLUEFIN    253
15.2.7    WEX    253
15.2.8    ASIAPAY    254
15.2.9    SHIFT4    254
15.2.10    WORLDLINE    255
15.3    STARTUP / SME PLAYERS    256
15.3.1    PARAGON PAYMENT SOLUTIONS    256
15.3.2    MARQUETA    256
15.3.3    PAYRIX    257
15.3.4    HST    257
15.3.5    SEQUENT    258
15.3.6    SYGNUM    258
15.3.7    SECURIONPAY    259
15.3.8    CARTA WORLDWIDE    259
15.3.9    ENCRYPTION CONSULTING    260
15.3.10    RANDTRONICS    260
16    ADJACENT MARKETS    261
16.1    INTRODUCTION TO ADJACENT MARKETS    261
TABLE 292    ADJACENT MARKETS AND FORECASTS    261
16.2    LIMITATIONS    261
16.3    TOKENIZATION MARKET ECOSYSTEM AND ADJACENT MARKETS    261
16.4    ENCRYPTION SOFTWARE MARKET    262
16.4.1    ENCRYPTION SOFTWARE MARKET, BY COMPONENT    262
TABLE 293    POST-COVID-19 SCENARIO: ENCRYPTION SOFTWARE MARKET,
BY COMPONENT, 2019–2025 (USD MILLION)    262
TABLE 294    POST-COVID-19 SCENARIO: ENCRYPTION SOFTWARE MARKET, BY SERVICE, 2019–2025 (USD MILLION)    262
TABLE 295    POST-COVID-19 SCENARIO: ENCRYPTION SOFTWARE MARKET,
BY PROFESSIONAL SERVICE, 2019–2025 (USD MILLION)    262
16.4.2    ENCRYPTION SOFTWARE MARKET, BY APPLICATION    263
TABLE 296    PRE-COVID-19 SCENARIO: ENCRYPTION SOFTWARE MARKET,
 BY APPLICATION, 2019–2025 (USD MILLION)    263
TABLE 297    POST-COVID-19 SCENARIO: ENCRYPTION SOFTWARE MARKET,
 BY APPLICATION, 2019–2025 (USD MILLION)    263
16.4.3    ENCRYPTION SOFTWARE MARKET, BY DEPLOYMENT MODE    263
TABLE 298    PRE-COVID-19 SCENARIO: ENCRYPTION SOFTWARE MARKET,
BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)    263
TABLE 299    POST-COVID-19 SCENARIO: ENCRYPTION SOFTWARE MARKET,
BY DEPLOYMENT MODE, 2019–2025 (USD MILLION)    264
16.4.4    ENCRYPTION SOFTWARE MARKET, BY VERTICAL    264
TABLE 300    PRE-COVID-19 SCENARIO: ENCRYPTION SOFTWARE MARKET, BY VERTICAL, 2019–2025 (USD MILLION)    264
TABLE 301    POST-COVID-19 SCENARIO: ENCRYPTION SOFTWARE MARKET, BY VERTICAL, 2019–2025 (USD MILLION)    265
16.5    PAYMENT SECURITY MARKET    265
16.5.1    PAYMENT SECURITY MARKET, BY COMPONENT    265
TABLE 302    PAYMENT SECURITY MARKET, BY COMPONENT, 2015–2022 (USD MILLION)    265
TABLE 303    PAYMENT SECURITY MARKET, BY SOLUTION, 2015–2022 (USD MILLION)    265
TABLE 304    PAYMENT SECURITY MARKET, BY SERVICE, 2015–2022 (USD MILLION)    266
16.5.2    PAYMENT SECURITY MARKET, BY ORGANIZATION SIZE    266
TABLE 305    PAYMENT SECURITY MARKET, BY ORGANIZATION SIZE,
2015–2022 (USD MILLION)    266
16.5.3    PAYMENT SECURITY MARKET, BY VERTICAL    266
TABLE 306    PAYMENT SECURITY MARKET, BY VERTICAL, 2015–2022 (USD MILLION)    266
16.5.4    PAYMENT SECURITY MARKET, BY REGION    267
TABLE 307    PAYMENT SECURITY MARKET, BY REGION, 2015–2022 (USD MILLION)    267
16.6    DATABASE SECURITY MARKET    267
16.6.1    DATABASE SECURITY MARKET, BY COMPONENT    267
TABLE 308    DATABASE SECURITY MARKET, BY COMPONENT, 2016–2020 (USD MILLION)    267
TABLE 309    DATABASE SECURITY MARKET, BY COMPONENT, 2020–2026 (USD MILLION)    267
TABLE 310    SERVICES: DATABASE SECURITY MARKET, BY TYPE,
2016–2020 (USD MILLION)    268
TABLE 311    SERVICES: DATABASE SECURITY MARKET, BY TYPE,
2020–2026 (USD MILLION)    268
TABLE 312    SOFTWARE: DATABASE SECURITY MARKET, BY TYPE,
2016–2020 (USD MILLION)    268
TABLE 313    SOFTWARE: DATABASE SECURITY MARKET, BY TYPE,
2020–2026 (USD MILLION)    269
16.6.2    DATABASE SECURITY MARKET, BY DEPLOYMENT MODE    269
TABLE 314    DATABASE SECURITY MARKET, BY DEPLOYMENT MODE,
2016–2020 (USD MILLION)    269
TABLE 315    DATABASE SECURITY MARKET, BY DEPLOYMENT MODE,
2020–2026 (USD MILLION)    269
16.6.3    DATABASE SECURITY MARKET, BY VERTICAL    270
TABLE 316    DATABASE SECURITY MARKET, BY VERTICAL, 2016–2020 (USD MILLION)    270
TABLE 317    DATABASE SECURITY MARKET, BY VERTICAL, 2020–2026 (USD MILLION)    270
16.6.4    DATABASE SECURITY MARKET, BY REGION    271
TABLE 318    DATABASE SECURITY MARKET, BY REGION, 2016–2020 (USD MILLION)    271
TABLE 319    DATABASE SECURITY MARKET, BY REGION, 2020–2026 (USD MILLION)    271
17    APPENDIX    272
17.1    DISCUSSION GUIDE    272
17.2    KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL    276
17.3    AVAILABLE CUSTOMIZATIONS    278
17.4    RELATED REPORTS    278
17.5    AUTHOR DETAILS    279"