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.
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North America Tokenization Market–Segmentation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment, Enterprise Size, Industry Vertical, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Tokenization Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Tokenization Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Agreement with PCI-DSS Guidelines as Well as GDPR
5.1.2 The Rising Need for Secure Payment Gateways
5.2 Market Restraints
5.2.1 Growing Number Of Sophisticated Malware
5.3 Market Opportunities
5.3.1 Integration Of NFC For Contactless Payment Technology
5.4 Future Trends
5.4.1 Adoption Of Cloud-Based Solutions
5.1 Impact Analysis of Drivers and Restraints
6. Tokenization – North America Market Analysis
6.1 Tokenization: North America Overview
6.2 Tokenization Market – Revenue and Forecast to 2027 (USD Million)
7. Tokenization Market Analysis – By Application
7.1.1 Overview
7.2 Payment Security
7.2.1 Overview
7.3 User Authentication
7.3.1 Overview
7.4 Compliance Management
7.4.1 Overview
8. Tokenization Market Analysis – By Component
8.1.1 Overview
8.1.2 Tokenization Market Breakdown, by Component, 2019 & 2027
8.2 Solution
8.2.1 Overview
8.2.2 Solution: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
8.3 Services
8.3.1 Overview
8.3.2 Services: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
9. Tokenization Market Analysis – By Deployment
9.1 Overview
9.2 Tokenization Market Breakdown, by Deployment, 2019 & 2027
9.3 Cloud
9.3.1 Overview
9.3.2 Cloud: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
9.4 On-premise
9.4.1 Overview
9.4.2 On-premise: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
10. Tokenization Market Analysis – By Enterprise Size
10.1 Overview
10.2 Tokenization Market Breakdown, by Enterprise Size, 2019 & 2027
10.3 SMEs
10.3.1 Overview
10.3.2 SMEs: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
10.4 Large enterprises
10.4.1 Overview
10.4.2 Large enterprises: Tokenization Market – Revenue and Forecast to 2027 (US$ Million).
11. Tokenization Market Analysis – By Industry Vertical
11.1 Overview
11.2 Tokenization Market Breakdown, by Industry Vertical, 2019 & 2027
11.3 BFSI
11.3.1 Overview
11.3.2 BFSI: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
11.4 Retail
11.4.1 Overview
11.4.2 Retail: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
11.5 Healthcare
11.5.1 Overview
11.5.2 Healthcare: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
11.6 IT & Telecom
11.6.1 Overview
11.6.2 IT & Telecom: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
11.7 Government
11.7.1 Overview
11.7.2 Government: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
11.8 Others
11.8.1 Overview
11.8.2 Others: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
12. Tokenization Market – Country Analysis
12.1.1 North America: Tokenization Market, by Key Country
12.1.1.1 US: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.1.1 US: Tokenization Market, by Component
12.1.1.1.2 US: Tokenization Market, by Deployment
12.1.1.1.3 US: Tokenization Market, by Enterprise Size
12.1.1.1.4 US: Tokenization Market, by Industry Vertical
12.1.1.2 Canada: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.2.1 Canada: Tokenization Market, by Component
12.1.1.2.2 Canada: Tokenization Market, by Deployment
12.1.1.2.3 Canada: Tokenization Market, by Enterprise Size
12.1.1.2.4 Canada: Tokenization Market, by Industry Vertical
12.1.1.3 Mexico: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.3.1 Mexico: Tokenization Market, by Component
12.1.1.3.2 Mexico: Tokenization Market, by Deployment
12.1.1.3.3 Mexico: Tokenization Market, by Enterprise Size
12.1.1.3.4 Mexico: Tokenization Market, by Industry Vertical
13. Impact of COVID-19 Pandemic on North America Tokenization Market
13.1 Overview
13.1.1 North America: Impact Assessment of COVID-19 Pandemic
14. Industry Landscape
14.1 Market Initiatives
14.2 New Product Development
14.3 Mergers and Acquisition
15. Company Profiles
15.1 Broadcom, Inc.
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
15.2 CipherCloud, Inc.
15.2.1 Key Facts
15.2.2 Business Description
15.2.3 Products and Services
15.2.4 Financial Overview
15.2.5 SWOT Analysis
15.2.6 Key Developments
15.3 FUTUREX
15.3.1 Key Facts
15.3.2 Business Description
15.3.3 Products and Services
15.3.4 Financial Overview
15.3.5 SWOT Analysis
15.3.6 Key Developments
15.4 Fiserv, Inc.
15.4.1 Key Facts
15.4.2 Business Description
15.4.3 Products and Services0
15.4.4 Financial Overview0
15.4.5 SWOT Analysis2
15.4.6 Key Developments2
15.5 Micro Focus International plc3
15.5.1 Key Facts3
15.5.2 Business Description3
15.5.3 Products and Services4
15.5.4 Financial Overview4
15.5.5 SWOT Analysis6
15.5.6 Key Developments6
15.6 OpenText Corporation7
15.6.1 Key Facts7
15.6.2 Business Description7
15.6.3 Products and Services8
15.6.4 Financial Overview8
15.6.5 SWOT Analysis1
15.6.6 Key Developments1
15.7 Sequent Software Inc.2
15.7.1 Key Facts2
15.7.2 Business Description2
15.7.3 Products and Services3
15.7.4 Financial Overview3
15.7.5 SWOT Analysis3
15.7.6 Key Developments4
15.8 TokenEx5
15.8.1 Key Facts5
15.8.2 Business Description5
15.8.3 Products and Services6
15.8.4 Financial Overview7
15.8.5 SWOT Analysis7
15.8.6 Key Developments8
15.9 Thales Group9
15.9.1 Key Facts9
15.9.2 Business Description9
15.9.3 Products and Services0
15.9.4 Financial Overview0
15.9.5 SWOT Analysis3
15.9.6 Key Developments3
15.10 Visa, Inc.5
15.10.1 Key Facts5
15.10.2 Business Description5
15.10.3 Products and Services6
15.10.4 Financial Overview6
15.10.5 SWOT Analysis8
15.10.6 Key Developments8
16. Appendix9
16.1 About The Insight Partners9
16.2 Word Index9
LIST OF TABLES
Table 1. Tokenization Market – Revenue, and Forecast to 2027 (USD Million)
Table 2. North America Tokenization Market, by Country – Revenue and Forecast to 2027 (USD Million)
Table 3. US: Tokenization Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Tokenization Market, by Deployment –Revenue and Forecast to 2027 (US$ Million)
Table 5. US: Tokenization Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)
Table 6. US: Tokenization Market, by Industry Vertical –Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada: Tokenization Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 8. Canada: Tokenization Market, by Deployment –Revenue and Forecast to 2027 (US$ Million)
Table 9. Canada: Tokenization Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)
Table 10. Canada: Tokenization Market, by Industry Vertical –Revenue and Forecast to 2027 (US$ Million)
Table 11. Mexico: Tokenization Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 12. Mexico: Tokenization Market, by Deployment –Revenue and Forecast to 2027 (US$ Million)
Table 13. Mexico: Tokenization Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)
Table 14. Mexico: Tokenization Market, by Industry Vertical –Revenue and Forecast to 2027 (US$ Million)
Table 15. List of Abbreviation9
LIST OF FIGURES
Figure 1. Tokenization Market Segmentation
Figure 2. Tokenization Market Segmentation – By Country
Figure 3. North America Tokenization Market Overview
Figure 4. North America Tokenization Market –Component
Figure 5. North America Tokenization Market – Deployment
Figure 6. North America – PEST Analysis
Figure 7. Tokenization Market – Ecosystem Analysis
Figure 8. US SENSITIVE RECORDS EXPOSED 2019, BY INDUSTRY (%)
Figure 9. Tokenization Market Impact Analysis of Drivers and Restraints
Figure 10. North America: Tokenization Market – Revenue and Forecast to 2027 (USD Million)
Figure 11. Tokenization Market Breakdown, by Component (2019 and 2027)
Figure 12. Solution: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 13. Services: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 14. Tokenization Market Breakdown, by Deployment (2019 and 2027)
Figure 15. Cloud: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 16. On-premise: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 17. Tokenization Market Breakdown, by Enterprise Size (2019 and 2027)
Figure 18. SMEs: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 19. Large enterprises: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 20. Tokenization Market Breakdown, by Industry Vertical (2019 and 2027)
Figure 21. BFSI: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 22. Retail: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 23. Healthcare: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 24. IT & Telecom: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 25. Government: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 26. Others: Tokenization Market – Revenue and Forecast to 2027(US$ Million)
Figure 27. North America: Tokenization Market Revenue Share, By Key Country (2019 and 2027)
Figure 28. US: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Canada: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. Mexico: Tokenization Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Impact of COVID-19 Pandemic in North American Country Markets
- Broadcom, Inc.
- CipherCloud, Inc.
- Fiserv, Inc.
- OpenText Corporation
- Sequent Software Inc.
- Thales Group
- Visa, Inc.
- FUTUREX
- TokenEx
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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