Tokenization Market Revenue, Company Profile, Key Trend Analysis & Forecast, 2021–2032
The global tokenization market size is expected to reach USD 11.00 Billion in 2030 and register a steady revenue CAGR of 19.0% over the forecast period, according to the latest analysis by Emergen Research. Steady tokenization market revenue growth can be attributed to the need to stay compliant and meet regulatory reporting standards. According to the Payment Card Industry (PCI) Data Security Standard (DSS), tokenization solutions can ease a merchant's validation efforts by lowering the number of system components for which PCI DSS standards apply, however, they do not eliminate the need to maintain and validate PCI DSS compliance. One solution to lessen the amount of cardholder data in the environment is to store tokens rather than Primary Account Numbers (PANs). Credit card tokenization significantly reduces risk (and consequently scope) as credit cards are not accessible outside of the initial point of collection and the data vault. However, the extent to which tokenization na...