Global Tokenization Solution Market Analysis, Growth, Trend & Forecasts 2018-2023, With an Expected CAGR of 22% - ResearchAndMarkets.com
Aug. 07, 2018
DUBLIN--(BUSINESS WIRE)--Aug 7, 2018--The "Global Tokenization Solution Market - Growth, Trend and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The Tokenization Solution market is expected to grow significantly at a CAGR of over 22% during the forecast period (2018-2023).
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.
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 SME's to adopt tokenization solution.
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.
Companies MentionedPaymetric 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. Tokenex LLC
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Insights
5. Market Dynamics
6. Tokenization Solution - Market segmentation
7. Key Vendors
8. Investment Analysis
9. Future Outlook
For more information about this report visit https://www.researchandmarkets.com/research/x25s4t/global?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180807005484/en/
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INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT PROFESSIONAL SERVICES FINANCE
SOURCE: Research and Markets
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PUB: 08/07/2018 09:02 AM/DISC: 08/07/2018 09:02 AM