(EMAILWIRE.COM, September 13, 2018 ) The Global Tokenization Market was valued at USD 685.78 million in 2016 and is projected to reach USD 4272.54 million by 2025, growing at a CAGR of 22.54% from 2017 to 2025.

Tokenization is the process of encrypting data that is sensitive to unique identification symbols. This process then retains all the information that is necessary that is in a format that allows the information’s security to not be compromised. Tokenization is beneficial as it makes it more difficult for individuals to breach security and hack the system to gain user data. The advantages of tokenization include the ability to secure sensitive data, PCI scope, compatibility with other technologies, reduction of data loss and overall internal protection.

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As there is Increase in credit card fraudulent activities, there is a rise in the demand for payment security. Payment security can encompass several components such as contactless payments and tokenization-as-a-service model. These factors increase the market size for tokenization. Issues such as budget constraints, poor knowledge about security tokens among the end user and the competition that tokenization faces against traditional IT systems are restraining the overall market growth for tokenization.

The major players in the market are as follows:

Tokenex,
Paymetric,
Liaison Technologies,
Futurex,
Hewlett Packard Enterprise,
Ciphercloud,
Symantec Corporation,
First Data Corporation,
Gemalto NV,
Cardconnect,
Cybersource,
Thales E-Security,
Protegrity Usa,
3delta Systems,
Fiserv,

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