Tokenization Market by Component - Global Forecast to 2023
The tokenization market is expected to grow from USD 983 million in 2018 to USD 2,670 million by 2023, at a Compound Annual Growth Rate (CAGR) of 22.1% during the forecast period.
The growing need to protect cardholders' data by following PCI DSS guidelines and increasing payment frauds that need to be prevented are expected to be major drivers of the tokenization market.
North America, followed by Europe, is expected to become the largest revenue-generating region for tokenization solution and service vendors in 2018.
Similarly, Thales e-Security, another leading tokenization solutions provider, has implemented various strategies to deliver the cutting-edge tokenization solution and services to global organizations.
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