The Asia Pacific Tokenization Market would witness market growth of 22.3% CAGR during the forecast period (2020-2026). Tokenization is considered as those data security systems which can produce a unique ID to prevent unapproved access to crucial information. In addition, the tokenization market is expected to boost due to a surge in several banking applications & increment in credit cardholders.
Tokenization is essential from the security outlook in the banking industry as this industry puts hefty investments on stakes & possesses sensitive data. Recently, tokenization systems are increasingly being adopted by various technology companies in order to secure the information of the customer.
As online businesses depend majorly on electronic transactions to charge their customer for products & services, attackers consistently prefer payment systems as they have sensitive and valuable money-related data. Payment security has gained considerable attention from eCommerce businesses because online shopping has increasingly gained massive traction. Using Tokenization, the disclosure of valuable personal data becomes hard even during the breach. Though tokenization cannot stop data breaches of businesses, it can decrease financial losses that could arise from potential breaches. Therefore, tokenization facilitates the process to enhance customer experience and keep up fraud prevention levels.
Based on Component, the market is segmented into Solution and Services. Based on Application, the market is segmented into Payment Security, User Authentication and Compliance Management. Based on Tokenization Technique, the market is segmented into API-Based and Gateway-Based. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Retail & eCommerce, Government, Healthcare, Telecom & IT, Energy & Utilities, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The China market dominated the Asia Pacific Cloud Tokenization Market by Country 2019, growing at a CAGR of 21.4 % during the forecast period. The Japan market is experiencing a CAGR of 23% during (2020 - 2026). Additionally, The India market is poised to grow at a CAGR of 24.5% during (2020 - 2026).
The Large Enterprises market dominated the Malaysia Tokenization Market by Enterprise Size 2019, thereby, achieving a market value of $59.3 million by 2026. The Small & Medium Enterprises market is exhibiting a CAGR of 27.4% during (2020 - 2026).
Free Valuable Insights: Tokenization Market in Asia Pacific is expected to register a CAGR of 22.3% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fiserv, Inc., Mastercard, Inc., Visa, Inc., Micro Focus International PLC, OpenText Corporation (Liaison Technologies), American Express Company, MeaWallet (Invuo Technologies AB), CipherCloud, Inc., Futurex LP, and TokenEx, LLC.
By Component
By Application
By Tokenization Technique
By Deployment Type
By Enterprise Size
By End-User
By Country
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