North America Tokenization Market to Grow at a CAGR of 24.6% to reach US$ 2751.3 Million from 2020 to 2027

The North America Tokenization market was valued at US$ 244.7 million in 2019 and is projected to reach US$ 1743.4 million by 2027; it is expected to grow at a CAGR of 28.7% from 2020 to 2027.

The North American region is highly involved in obeying Payment Card Industry Data Security Standard (PCI DSS) guidelines to help protect the safety of highly sensitive data. As payment security is a crucial business, every business must follow the PCI DSS. Thus, the rising requirement to protect sensitive data by following PCI DSS guidelines and growing number of payment frauds are among the most significant drivers helping in increasing market revenue of tokenization in North America. Apart from payment security, tokenization technology is highly used for user authentication and compliance management. The growing adoption of tokenization in several industrial applications is also propelling the growth of the North America Tokenization market in the region.

Tokenization technology enables the exchange of assets effectively; the technology is a primary asset when considering data protection and is used in addition to encryption in banking transactions. With rapid digitalization, e-payment solutions and tools are gaining importance in North America. This trend is more predominant in evolving markets, including India and China, wherein large number of consumers are opting for digital transaction by swapping directly from cash to alternative payment modes.

The detailed reports include inventory and volume analysis, top-selling items, revenue and profit margin optimization, and staffing needs. With these features and technologies, vendors can attract new customers and expand their footprints in emerging markets. The North America tokenization market is expected to grow at a good CAGR during the forecast period from 2020 to 2027.

North America Tokenization 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

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

North America Tokenization Market-Companies Mentioned

• Broadcom, Inc.
• CipherCloud, Inc.
• Fiserv, Inc.
• OpenText Corporation
• Sequent Software Inc.
• Thales Group
• Visa, Inc.
• FUTUREX
• TokenEx

North America Tokenization Market Report Scope

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