MarketsandMarkets forecasts the global Tokenization Market size to grow from USD 2.3 billion in 2021 to USD 5.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period. Need to stay compliant and meet regulatory reporting standards, growing need to ensure continuous customer experience and maintain fraud prevention levels due to increasing financial frauds, and need to reduce risk from data breaches are key factors for the growth of the Tokenization market.
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By Organization Size, Large Enterprises to hold the larger market size during the forecast period
The Large Enterprises segment of the Tokenization Market is projected to hold the largest market size in 2021. Large Enterprises are the early adopters of tokenization, as they use a huge amount of confidential data of consumers and have many business applications susceptible to cyber-attacks. Due to their large size, these enterprises with different types of IT infrastructure face the difficult task of effectively managing the security for several applications across the enterprise. These organizations prefer to outsource tokenization services to lower their burden of PCI DSS compliance management.
By Vertical, the Retail & eCommerce subsegment to grow at the highest CAGR during the forecast period
Among the Verticals, the Retail & eCommerce sub-segment is expected to grow at the highest CAGR during the forecast period. Retail organizations need to ensure a pleasant check-out experience for their customers. Retail merchants regularly face challenges in managing consumers’ sensitive data related to payment cards as well as complying with regulations. Tokenization solutions address these challenges by replacing the sensitive data with tokens and protecting critical information from traversing through vulnerable networks.
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Unique Features in the Tokenization Market
Tokenization makes use of blockchain technology to perform transactions in a safe, transparent, and decentralised manner while maintaining the integrity, traceability, and immutability of ownership records.
Assets can be divided into smaller, tradable units by tokenization, allowing for fractional ownership. More investors can now take advantage of these investing opportunities.
By permitting fractional ownership and simplifying secondary market trading, tokenization increases the liquidity of assets that are typically illiquid by making it easier for investors to buy and sell tokens.
It is possible for investors anywhere in the world to hold and trade tokenized assets without being restricted by geography thanks to tokenization, which creates an accessible and global investment environment.
Tokenization improves security by shielding ownership data and transactions from fraud, counterfeiting, and unauthorised access by utilising cryptographic techniques.
Major Highlights of the Tokenization Market
Tokenization is becoming more widely used across a variety of asset sectors, such as securities, real estate, art, commodities, and intellectual property, opening up new opportunities for fractional ownership and trading.
The phenomenal rise in popularity of Non-Fungible Tokens (NFTs), which stand for distinct physical or digital assets and have uses in entertainment, gaming, art, and collectibles.
Utilising smart contracts more frequently in tokenization platforms allows for the automated and programmable fulfilment of contractual obligations, such as voting, dividend distribution, and other predetermined tasks.
Increased tokenized asset integration into the decentralised finance (DeFi) ecosystem, enabling users to employ tokenized collateral for yield farming, lending, and borrowing.
Tokenization is being used more and more in the real estate industry, opening up real estate assets to a wider spectrum of investors and facilitating fractional ownership and liquidity.
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Top Key Companies in the Tokenization Market
The key and emerging market players in the Tokenization market include Fiserv (US), Visa (US), Mastercard (US), Micro Focus (UK), American Express (US), Thales (France), Lookout (US), Futurex (US), CardConnect (US), FIS (US), HelpSystems (US), MeaWallet (Norway), TokenEx (US), Entrust (US), Verifone (US), Bluefin (US), WEX (US), AsiaPay (Hong Kong), Shift4 (US), and Worldline (France). These players have adopted various strategies to grow in the Tokenization market.
Fiserv is a financial technology and solutions company that offers payment solutions, processing services, customer and channel management solutions, risk and compliance solutions, and insights and optimization solutions. The company offers electronic payments, digital channels, card services, biller solutions, output services, investment services, and risk management under its payments segment. The company’s offerings in the tokenization market include Fiserv Carat, which helps protect customers’ data by using a multi-layered, end-to-end security strategy that includes encryption and omnichannel tokenization. In January 2021, Fiserv acquired Ondot Systems Inc., a provider of digital experience platforms. This helped Fiserv enhance its portfolio with digital solutions.
Mastercard is a leading global provider of business payment solutions. The company provides payment processing products, solutions, and consulting services. In the tokenization market, it offers a PCI tokenization service that helps reduce PCI compliance scope and secure the user account details by replacing the PAN number with some token number. In November 2021, Mastercard partnered with ACI Worldwide to make Mastercard Direct Services accessible to ACI’s customers. These services enable financial institutions to access safety, security, loyalty, and other value-added services across all payment types.
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