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Tokenization Market: Growing Burden of Cyber Attacks to Encourage Rapid Adoption across Financial Institutions

Apr 5th 2019 at 1:17 AM

Large scale adoption of apt data security services to restrict unauthorized theft as well as occurrences of data theft is likely to reflect favorably towards the growth of tokenization market.Tokenization essentially encompasses tagging crucial data with unique identification number and retaining the same in a format that ensures superlative internal protection. Growing adoption across BFSI vertical and financial institutions are likely to translate massive growth in tokenization market in forthcoming years. Besides rampant adoption by large scale institutions. Significant adoption across SMEs are further anticipated to translate growth. These market highlights have been extracted from Market Research reports Search Engine’s (MRRSE) recent report addition titled, ‘Tokenization Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026‘ pinned in its fast expanding online data archive.

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Besides aforementioned growth triggers tokenization market is likely to face significant challenges such as surged installation tariffs and associated costs pertaining hardware up-gradation. Additionally, challenges associated with insufficient skilled workforce are estimated to further withhold growth significantly in tokenization market. To overcome challenges associated with hardware, software, and security compliance, leading players are encouraged to develop new-age, high-end suites to encourage large scale adoption. Besides portfolio diversification, leading service providers are also investing in strategic collaborations and buy-out schemes to attain consolidated footing across geographies. These growth initiators are estimated to drive considerable thrust in tokenization market in the coming years.Unbiased research postulates articulated in the report allow readers to draw veritable insights on market growth triggers. The report assesses tokenization market at both global and regional levels in terms of current as well as historical market performance valuations to derive substantial understanding on future estimations. The report commences with a broad overview section encompassing market definition and dynamics followed by macro and micro economic growth factors.

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Additionally, the report in its subsequent sections also lends optimum understanding on market segmentation on the basis of which tokenization market is diversified into component, end-use, solution, and enterprise size. By component, tokenization market is split into hardware, software, and services. In terms of end-use the market is splintered into BFSI, education, IT and telecom, manufacturing, and automotive industries amongst others. By enterprise size the market is further diversified into large enterprises as well as small and medium enterprises. Based on solution the market is further clustered into payment security, customer data management, compliance and policy, as well as encryption, and omni-channel management.Further, the report also included diversified understanding on regional scope and geographical expansion on the basis of which tokenization market is demarcated into Europe, North and South America, Asia-Pacific, and MEA as potentially lucrative regional fringes in tokenization market. Thorough research elements postulated in the report allow readers to gain substantial understanding about leading players and industry forerunners in tokenization market. Each of the mentioned profiles has been assessed and evaluated on the basis of industry standards, besides pinning a detailed SWOT analysis. Based on such diverse research inputs, market players in tokenization market can effectively carry out detailed assessment of winning business strategies deliver lucrative business decisions.

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