TECHGuru

  Tokenization Market - Snapshot Tokenization is a data security system which converts sensitive data into a unique ID, referred to as token, to avoid unauthorized access to sensitive information. This process then preserves all the information in a format that allows the information’s security not to be compromised. Tokenization is beneficial for enterprises as it makes it difficult for individuals to hack the system or breach security, to gain access to user data. The advantages of tokenization include the ability to secure sensitive data, reduced data loss, reduced payment card industry data security standard (PCI-DSS) compliance scope, compatibility with other technologies, and overall internal protection. The  tokenization market is forecasted to grow to US$ 6,901.1 Mn by 2026, recording a CAGR of 18.6%. The major factor responsible for growth of the tokenization market is rising data security concerns in all the data sensitive companies around the world. The tokenizatio...