Global E-passport and E-visa Market Scope

Global E-Passport-And-E-Visa Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global e-passport-and-e-visa market is estimated to garner a huge revenue by the end of 2031 by growing at a CAGR of about 7% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of about USD 23 billion in the year 2021. The primary growth factor leading to the market growth is the increase in incidents of identity theft. For instance, in 2020 more than 2 million reports on identity theft were reported in the United States.

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An e-passport or e-visa is a chip-enabled passport that includes a biometric identification card, which improves the transparency and security of travel documents. The biometric details stored in the microchip on an identification card like an e-passport ensure the authenticity of its holder and reduce identity fraud. Hence, it is expected to surge the growth of the global e-passport-and-e-visa market. According to the United Nations Office for the Coordination of Humanitarian Affairs, the total number of terrorist attacks worldwide in 2021 has increased to 5, 226.

Global E-Passport-And-E-Visa Market: Growth Drivers and Challenges

Growth Drivers

• Worldwide Supportive Regulatory Structures – Today, several nations have legal mechanisms that make holding e-passports mandatory. For instance, under the Visa Waiver Program by the U.S. Department of Homeland Security, citizens of participating countries are allowed to travel to the U.S. for tourism or business and can stay up to 90 days without a visa. Moreover, in order to avail of these privileges and to travel under the program, one should possess an e-passport with the biometrical information of the owner stored in a microchip. At present, there are more than 35 participating countries under this program. The visa waiver program of the EU is called European Travel Information and Authorization System (ETIAS). To complete the online application for ETIAS, travelers should possess a biometric passport. Further, according to International Civil Aviation Organization (ICAO), e-passports are issued by 101 issuing authorities.

• General Availability of Advanced Airport Infrastructure – In 2019, more than 19 million departure passengers used the facility of e-security gates at the Hong Kong International Airport (HKIA).

• Effectively Controlling Cyber Crimes – E-passport stores unique biometrics like a person's iris or fingerprints, which to steal or replicate would be virtually impossible. As per the data collected by the Federal Bureau of Investigation (FBI) in their Internet Crime Report 2021, the organization recorded 847376 complaints of cybercrimes in the year in the United States.

• Steady Growth in Air Traffic till the Onset of COVID-19 – With the increase in passengers in airports, those holding an e-passport save time by getting it examined in a few seconds. Therefore, it is anticipated to surge the growth of the global e-passport-and-e-visa market. As per the data compiled by the World Bank and ICAO, there was a steady growth in the number of airline passengers from 3.47 billion in 2015 to 4.56 billion in 2019. 

• Immediate Effectiveness in Controlling Environmental Crisis – The application for an e-visa happens completely online, thereby avoiding the pile of paperwork involved in the application process for a traditional visa. More than 25% of the total waste in landfills is paper waste.

Challenges

• Excessive Spending on Initial Deployment and Replacement

• Inadequate Infrastructure of ITC in Some Countries

• Inevitable Usage of Privacy-sensitive Technologies

The e-passport-and-e-visa market is segmented and analyzed for demand and supply by end users into adults and children. Between these, the adult segment is anticipated to hold the largest market size by the end of 2031. This majority share of adults in the e-passport-and-e-visa market is mainly owing to the migration of young adults in large numbers for higher studies and jobs. According to the International Labor Organization (ILO), the global estimate for the stock of international migrant workers was 169 million in 2019.

Global E-Passport-And-E-Visa Market Regional Synopsis

Regionally, the global e-passport-and-e-visa market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these, the market in the Europe region is projected to hold the largest market share by the end of 2031 on the back of the effective employment of e-gates across the country such as the U.K. and the mandate on EU citizens to be biometrically enrolled to apply for renewing the ordinary passport. As a result, the ordinary passports issued by more than 25 member countries of the EU are biometric passports. Similarly, in 2018, more than 60 million passengers used the ePassport Gates across the U. K.

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Market Segmentation

Our in-depth analysis of the global e-passport-and-e-visa market includes the following segments:

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Key Companies Dominating the Global E-Passport-And-E-Visa Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global e-passport-and-e-visa market that are included in our report are Thales, 4G Identity Solutions, Bundesdruckerei GmbH, Casa da Moeda do Brasil, Canadian Bank Note Company, Limited., IRIS Corporation Berhad, Fábrica Nacional de Moneda y Timbre-Real Casa de la Moneda (FNMT-RCM), National Printing Bureau, Goznak, Veridos GmbH, and others.

Global E-Passport-And-E-Visa Market: Latest Developments

• June, 2022: Thales - announced being selected for Schengen's new biometric Entry-Exit registration System's (ESS) contract work that would facilitate the Schengen Member states to register non-European citizens crossing the external borders of the European Union.

• May, 2022: Veridos GmbH - informed about the issuance of the new advanced e-passports in Denmark, which the company produced and personalized in collaboration with people. The passports produced by the company prevent forgery and make it easy for Danes to cross borders efficiently.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the clients’ requirements helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal. 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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