Global Tokenization Solution Market is valued at approximately USD 2.03 billion in 2021and is anticipated to grow with a healthy growth rate of more than 24.09% over the forecast period 2022-2029.Tokenization Solution helps to keep sensitive data at a trusted and secured offsite platform. It enhances the level of security and protection for individual information.Companies can protect their client information with extensive standards and regulations. Companies can achieve Payment Card Industry Data Security Standard (PCI DSS) by reducing in-house stored PAN data. Additionally, increased digital handling of sensitive data and secured measures of tokenization has boosted industry growth. Rising digital payments after COVID-19haveplayed a major role in market growth.

There is a huge rise in online payments, total transaction value is anticipated to grow at a rate of 11.79% and have a total value of US$5.99tn in 2023. For Instance, In December 2021, PhonePe an online payment application started with technology of deleting all card-on-file details after anRBI this created a demanding market because of the data security it was offering to industries. Tokenization Solution is used in several industries due to rising digitalized processes nowadays such as finance, banking and information technology, healthcare and the retail sector. These services offer industries with secured exchange and handling of data, avoiding any leaks and cyber attacks. For instance, Radius Financial Group faced illegal accessing to company servers and data breaching of over 10,000 customers in February 2022. COVID-19 laid a positive impact on tokenization boosting its demand in the market due to the rising preference for contactless and digitalized transactions, also continuous technological advancements fulfilled the demand of companies. However, the difficulty faced during the installation of the Tokenization Solution stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Tokenization Solution Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World.North America dominated the market for tokenization solutions. Due to prevailing advanced digital technologies, Americans prefer online payments, this region accounts forthe highest adoption of cloud technology. Major Companies inNorth America are shifting towards e-commerce. For instance, U.S. Companies provide mostly online payment networks thereby boosting the demand for digitalized payments. The fastest growing region is expected to be Asia Pacific as it is witnessing high growth in technological innovations, rising use of the internet and smartphones among the consumers and payment innovations are driving the market.

Major market player included in this report are:
Visa, Inc.
MasterCard, Inc.
Fiserv, Inc.
Micro Focus International plc
American Express Company
Thales Group
Paymetric, Inc.
Goldman Sachs Group, Inc.
CipherCloud, Inc
Liaison Technologies, Inc.
Recent Developments in the Market:
? InOctober 2021, Goldman Sachs collaborated with American Express to deliver a secured payment solution through cloud technology.
? In September 2021, CipherTrace was acquired by Mastercard to provide businesses with greater transparency in order to help them avoid risks.
? In June 2021, Amazon Web Services partnered with Micro Focusto provide AWS customers with minimized breach exposures and automated risk identification.
Global Tokenization Solution Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Application Area, Technology, Deployment, Industry Vertical, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporatespotential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:
ByComponent:
Solution
Services
By Application Area:
Payment Security
User Authentication
Compliance Management
Others
By Technology:
Application Programming Interface-based
Gateway-based
ByDeployment:
Cloud
On-Premises
By Industry Vertical:
Retail and E-commerce
Healthcare
IT
Government
BFSI
Energy & Utilities
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World