New York, Jan. 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Tokenization Market with the Impact of COVID-19, by Component, Application Area, Tokenization Technique, Deployment Mode , Organization Size, Vertical and Region – Global Forecast to 2026” – https://www.reportlinker.com/p04933547/?utm_source=GNW
Tokenization also minimizes the impact of security vulnerabilities for merchants. Since merchants store tokens instead of credit card numbers in their systems, hackers acquire tokens that are of no use to them. Tokenization helps minimize costly breaches that many retailers and banks have suffered huge losses as a result of data theft.
• By component, service segment is expected to grow at the highest CAGR during the forecast period
By component, the service segment is expected to grow at a higher growth rate during the forecast period. The strong growth of the services segment can be attributed to technological advancements driving the demand from organizations to help implement the solutions easily on their existing infrastructure. .
Tokenization services include the support offered by vendors to help their customers effectively use tokenization solutions and their maintenance. Tokenization services have been segmented into professional services and managed services.
By services, the professional services segment will hold the largest market size during the forecast period.
The professional services segment is expected to hold the largest market size. Professional services are services offered by professionals, specialists or experts to support business operations.
They include consulting, integration, training and education services, as well as support and maintenance services.
• By tokenization technique, API-based segment is expected to grow at the highest CAGR during the forecast period
The API-based segment is expected to grow at a higher CAGR during the forecast period. API-based tokenization converts the primary account number (PAN) into tokens that cannot be reverse-engineered back to the original PAN information.
It helps customers reduce the risk of storing critical information on their local servers.
The distribution of the profiles of the main participants is given below:
• By company: Level 1: 20%, Level 2: 25% and Level 3: 55%
• By designation: C-level executives – 40%, Directors – 33%, Managers – 27%
• By region: North America – 32%, Europe – 38%, Asia-Pacific – 18% and Rest of the world* – 12%
Note: Tier 1 companies have revenues over $1 billion; Tier 2 companies have revenues ranging from $500 million to $1 billion; and Tier 3 companies have revenues ranging from $100 million to $500 million
*Rest of World includes Middle East, Africa and Latin America
Source: Market and Market Analysis
The following major tokenization vendors are profiled in the report:
• Fiserv (USA)
• Visa (United States)
• Mastercard (United States)
• Micro Focus (UK)
• American Express (United States)
• Thales (France)
• Lookout (USA)
• Futurex (United States)
• CardConnect (USA)
• FIS (USA)
• HelpSystems (USA)
• MeaWallet (Norway)
• TokenEx (USA)
• Entrust (USA)
• Verifone (USA)
• Bluefin tuna (United States)
• WEX (USA)
• AsiaPay (Hong Kong)
• Shift4 (USA)
• Worldline (France)
• Paragon Payment Solutions (USA)
• Marqueta (United States)
• Payrix (United States)
• TVH (Brazil)
• Sequential (USA)
• Sygnum (Switzerland)
• SecurionPay (Switzerland)
• Carta Worldwide (Canada)
• Crypto Consulting (US)
• Randtronics (Australia)
The tokenization market is segmented by component, services, application area, tokenization technique, mode of deployment, organization size, verticals, and region. A detailed analysis of major industry players has been undertaken to provide insight into their business insights; solutions and services; key strategies; new product launches and product enhancements; partnerships, acquisitions and collaborations; business agreements and expansions; and the associated competitive landscape within the tokenization market.
Reasons to buy the report
The report would help market leaders and new entrants in the following ways:
• It comprehensively segments the Tokenization market and provides the closest approximations of revenue figures for the overall market and its sub-segments across different regions.
• It would help the stakeholders to understand the pulse of the market and provide insights into the key market drivers, restraints, challenges, and opportunities in the market.
• It would help stakeholders to better understand their competitors and acquire more information to improve their position in the market. The competitive landscape section includes an ecosystem of competitors, new product launches, product enhancements, partnerships, collaborations, and acquisitions.
Read the full report: https://www.reportlinker.com/p04933547/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.