North America Tokenization Market

Market Introduction

Tokenization solutions are often used for credit card processing. The payment card industry (PCI) council defines tokenization as a process wherein the primary account number (PAN) is replaced with an alternate/surrogate value known as a token. The key factor attributed to the growth of the North America tokenization market is the growing data security concerns in all the data-sensitive organizations across the world. The tokenization market is likely to witness a noteworthy growth owing to a huge number of financial firms choosing for rising security in payment processing systems. Also, with rising incidences of credit card fraudulent activities, there is an increase in the demand for payment security.

North America Tokenization Strategic Insights

Strategic insights for the North America Tokenization provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Tokenization Report Scope

North America Tokenization Regional Insights

The geographic scope of the North America Tokenization refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The North America tokenization market was valued at US$ 591.6 million in 2019 and is projected to reach US$ 2751.3 million by 2027; it is expected to grow at a CAGR of 24.6% from 2020 to 2027. Tokenization extensively moderates a retailer or organization’s scope of compliance with these regulations. For example, if an organization/retailer no longer stores its customers’ authentic PANs in its websites, POS terminals, as well as information systems, the number of systems required to be reported to be compliant with the GDPR and PCI DSS requirements are significantly reduced. Thus, to decrease the footprint of sensitive data within an organization, retailers are implementing tokenization solution, which is likely to drive the growth of tokenization market.

Key Market Segments

In terms of component, the solution segment accounted for a larger share of the North America Tokenization market in 2019. In terms of deployment, the cloud segment held a larger share of the market in 2019. In terms of enterprise size, the large enterprise segment accounted for a larger share of the market in 2019. In terms of industry vertical, the BFSI segment held the largest market share in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the tokenization market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Broadcom, Inc.; CipherCloud, Inc.; Fiserv, Inc.; and Micro Focus International plc, are among the major companies listed in the report.

Reasons to buy report

• It provides understanding of the North America tokenization market landscape and identifies market segments that are most likely to guarantee a strong return
• It guides stay ahead of the race by comprehending the ever-changing competitive landscape for the North America tokenization market
• It helps efficiently plan merger and acquisition, and partnership deals in the tokenization market by identifying market segments with the most promising probable sales
• It facilitates knowledgeable business decision-making through perceptive and comprehensive analysis of market performance of various segments pertaining to the North America tokenization market

• It provides market revenue forecast of the market based on various segments for the period from 2020 to 2027.

NORTH AMERICATOKENIZATION MARKET SEGMENTATION

North America Tokenization Market, by Component

• Solution
• Services

North America Tokenization Market, by Deployment

• Cloud
• On-Premise

North America Tokenization Market, by Enterprise Size

• SMEs
• Large Enterprise

North America  Tokenization Market, by Industry Vertical

• BFSI
• Retail
• IT & Telecom
• Healthcare
• Government
•  Others

North America Tokenization Market, by Country

• US
• Canada
• Mexico

North America Tokenization Market-Companies Mentioned

1. Broadcom, Inc.
2. CipherCloud, Inc.
3. Fiserv, Inc.
4. OpenText Corporation
5. Sequent Software Inc.
6. Thales Group
7. Visa, Inc.
8. FUTUREX
9. TokenEx