In terms of revenue, the global tokenization market was valued at USD 115.9 million in 2019 and is expected to reach USD 623.7 million in 2027. It is expected to grow at a CAGR of 25% over the forecast period.
The key factors driving the tokenization market are the increased need to comply with regulations and the increased need to ensure a lasting customer experience as well as maintaining a level of fraud protection resulting from increased financial crime. In addition, increasing customer coordination for contactless payments and increasing demand for cloud-based tokenization solutions and services will provide favorable opportunities for tokenization vendors.
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A full report of Tokenization Market available at: https://www.orionmarketreports.com/tokenization-market/41064/
Tokenization Market Segments:
By Component
• Solution
• Service
By Application
• Compliance Management
• User Authentication
• Payment Security
By Vertical
• Banking, Financial Services, and Insurance
• Retail
• Healthcare
• Automotive
• Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
