Tokenization Market

1. 2022 Rising Adoption of Tokenization Solutions in BFSI Sector Due to Increasing Cyber Theft Cases

2. In 2021, the tokenization industry generates $2,590.6 million revenue, and it is projected to capture $12,684.2 million revenue, rising at a rate of 19.3% from 2021 to 2030. It is ascribed to the growing financial frauds and rising requirements for secure payment gateways. It is required to meet security standards for preventing a data breach and enhancing the customer experience for industry proliferation in the near future BFSI sector captures a significant share of the tokenization industry, and it is projected to capture $5.0 billion revenue by 2030, ascribed to increasing seamless digital payments with secured transactions. Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/tokenization-market/report-sample Moreover, BFSI safeguards the transaction in any commerce environment and is a major factor behind the rising adoption of tokenization solutions in banks. The new payment solutions, modes, and real-time payment schemes promote the adoption of digital payments; thus, tokenization does not limit to card payments. In addition, consumer protection schemes and various other regulations are projected to fuel the demand for tokenization solutions for digital transactions. The cloud category is projected to witness substantial growth in the tokenization industry, growing at a rate of 20% from 2021 to 2030. It offers numerous benefits, as they don't require merchants to build a secure payment infrastructure that involves providing information such as credit card detail, usernames, passwords, and other details.

3. The cloud-based tokenization enables changing sensitive information with unique identification symbols, that secure sensitive information outside the internal system. Therefore, it minimizes the complexity of compliance and reduces merchants' risk of updating and protecting the sensitive information of the customers. Cloud-based tokenization deploys PCI-compliant tokenization solutions for protecting and managing cardholders' details with more security offered by the tokenized payment card before entering the merchant's payment gateways. Therefore, this solution mitigates the expensive software and hardware requirement for on-premise operations and compliance with PCI DSS guidelines. Moreover, the rising cloud technology demand is led by its scalability, ease of use, easy integration, and cost-effectiveness. Thus, SMEs and large-sized organizations are increasingly adopting cloud infrastructure, compare to conventional on-premise tokenization. The on-premise tokenization is projected to capture a substantial share of the industry in the coming future. The deployment mode offers in-house sensitive data storage and provides the organization with massive control over the database.

4. North America holds a substantial share of the tokenization industry. The regional market is projected to capture an annual revenue of more than $6 billion in 2030, growing at a rate of 20% from 2021-2030. Several factors that affect the industry growth are rising payment regulatory compliances and increasing cases of data breaches in the region. Browse full report at: https://www.psmarketresearch.com/market-analysis/tokenization-market The rising cases of data theft and cyber fraud have resulted in the growing adoption of tokenization in small and medium-sized enterprises, and large-sized organizations for improving security and preventing future attacks. The major companies operating in the tokenization industry are Fiserv Inc., Micro Focus LLC, THALES, American Express Company, Fidelity National Information Services Inc., Visa Inc., and American Express Company. Therefore, rising cyber fraud with data theft results in the growing adoption of tokenization solutions in SMEs and large-sized organizations.

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