Tokenization is the process of converting a real-world asset, such as real estate or artwork, into a digital asset represented as a token on a blockchain. The tokenization market refers to the buying, selling, and trading of tokenized assets. This market has gained significant traction in recent years, as blockchain technology has enabled the creation of new, more secure and efficient methods of investing in and owning assets. The tokenization market is still in its early stages, but it is expected to grow rapidly as more assets are tokenized and as the infrastructure for buying, selling, and trading these assets continues to develop.
The tokenization market generated $1.5 billion in revenue. The market is anticipated to develop at a CAGR of 22.6% from 2023 to 2033, reaching US$ 13.81 billion. Tokenization will be a major financial innovation that will completely alter how businesses handle their investments and use and monetize them. With the help of tokenization, businesses can develop a wide range of new financial products that enable both consumers and businesses to diversify their portfolios globally.
Tokenization enables businesses to securely encrypt data, safeguarding private information. Tokenization benefits both issuers and investors by fostering more safe, open, accessible markets. Momentum is anticipated to increase along with rising awareness of the technology and its practical applications.
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Who are the Key Manufacturers and Suppliers of Tokenization?
Some of the leading providers of tokenization include
- Fiserv
- Mastercard
- Visa
- Micro Focus
- American Express
- HelpSystems
- MeaWallet
- Thales TCT
- CipherCloud
- Futurex
- TokenEx
- nCipher
- VeriFone
- Bluefin Payment Systems
- Marqeta, Paragon Payment Solutions
- IntegraPay
- AsiaPay
- Liaison Technologies
Why is Tokenization Demand Growing?
To safeguard the data, tokenization uses a token, whereas encryption uses a key. Tokenization replaces sensitive data with a non-sensitive token while securely storing the original data.As a result, over the predicted period, there has been an increase in demand for the adoption of tokenization approaches. Additionally, one of the key drivers propelling the expansion of the tokenization market globally is customers’ growing preference for contactless payment options.
Government-enforced strict rules and regulations are also contributing to the market’s expansion. One of the key elements driving the need for tokenization across several industry sectors is the increasing pressure on businesses to comply with strict rules.
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Key Segments
By Component:
- Solutions
- Services
- Professional Services
- Managed Services
By Application:
- Payment Security
- User Authentication
- Compliance Management
By Tokenization Technique:
- API-Based
- Gateway-Based
By Deployment:
- Cloud
- On-premise
By Organization Size:
- SMEs
- Large Enterprises
By Vertical:
- BFSI
- Healthcare
- IT and Telecom
- Government
- Retail
- Energy and Utilities
- Others
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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