The Asia Pacific tokenization market was valued at US$ 244.7 million in 2019 and is projected to reach US$ 1,798.83 million by 2027; it is expected to grow at a CAGR of 28.7% from 2020 to 2027.
The Business Market Insights provides you regional research analysis on “Asia Pacific Tokenization Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Asia Pacific Tokenization market during the forecast period, i.e., 2020–2027.
“Tokenization solutions are often used for credit card processing. The payment card industry (PCI) council defines tokenization as a process wherein the primary account number (PAN) is replaced with an alternate/surrogate value known as a token. The key factor attributed to the growth of the Asia-Pacific tokenization market is the growing data security concerns in all the data-sensitive organizations across the world. The tokenization market is anticipated to witness a noteworthy growth owing to a huge number of financial firms choosing for rising security in payment processing systems. Also, with rising incidences of credit card fraudulent activities, there is an increase in the demand for payment security.”
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Major key players covered in this report:
- Broadcom, Inc.
- CipherCloud, Inc.
- Fiserv, Inc.
- Micro Focus International plc
- OpenText Corporation
- Sequent Software Inc.
- Thales Group
- Visa, Inc.
The growth of the Asia Pacific Tokenization market is attributed to the increasing demand for tumor modelling and biobanking, increasing adoption of personalized drugs and growing focus on developing alternatives for animal testing models. However, issues related to the incorporation of organoids into existing workflows. leading to restraining the growth of the market.
The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the regional landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Asia Pacific Tokenization market. The researcher provides an extensive analysis of the Asia Pacific Tokenization market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.
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