E-Passport & E-Visa Market Highlights:
An e-Passport is an enhanced secure passport with an embedded chip that contains the holder’s biometric information, such as a digital photograph and signature. E-Passports are issued by countries that are part of the Visa Waiver Program (VWP).
The global E-passport and E-visa market is set to record a 6.30% CAGR and value at 40.10 Billion during the forecast period of 2022-2030
An e-Visa is an electronic visa that can be requested and obtained online. E-Visas are issued by some countries and allow travelers to enter the country without having to apply for a physical visa at an embassy or consulate. E-Visas are usually valid for a certain period of time and for a specific purpose, such as tourism or business.
The global e-Passport & e-Visa market was analyzed by Market Research Future (MRFR) and it was projected that a noteworthy 6.30% CAGR will be attained by the market over the forecast period of 2022 to 2030.
E-passports and e-visas function with the help of contactless smart chip technology and are integrated with computer chip alongside an embedded antenna. The technology is being increasingly used by passengers, irrespective of them traveling for leisure or business purpose.
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According to the research analysis that has been conducted by the industry experts, the global E-passport and E-visa market is set to record a 6.30% CAGR during the ongoing forecast period of 2017-2023. This business domain is likely to account for USD 40.10 billion by the end of the current period in 2030. The global market is likely to be rising from a global market figure worth USD 9202.8 million during the historic forecast period that had ended in 2019.
The leading contenders in the e passport and e visa market are Datacard group (U.S), Iris Corporation (Malaysia), Cardlogic limited (Ireland), Muehlbauer group (Malaysia), 4G identity solutions private limited (U.A.E), Eastcompeace (China), Oberthur Technologies (France), Safran identity and security (France), HID Global Corporation (U.S), Gemalto NV (the Netherlands), Giesecke&Devrient limited (Germany), and others.
The market segmentation for ePassport and eVisa includes type, application and hardware components.
The types identified in the report are Biometrics as well as RFID. The biometrics segment can be dissected into fingerprint recognition, iris recognition and facial recognition.
The application-wise market segments are Travelling (Business travel, foreign affairs and Leisure Travel), immigration/border control and identification/proof.
The hardware components covered are antenna, processor/chip, others.
The global market for e-Passport & e-Visa market is estimated to grow at a significant rate during the forecast period from 2020 to 2027. The geographical analysis of data as a service market is studied for North America, Europe, Asia Pacific, and the rest of the world. Europe is expected to dominate the e-Passport & e-Visa Market during the forecast period. Germany, the UK, and France were the early adopters of biometric technology for various purposes like border control, airport security, identity security, and law enforcement.
July 2019, the Bangladesh government has begun the distributing electronic passports in the country for the first time ever. The electronic passport has an embedded e-microprocessor chip comprising biometric information in order to authenticate the bearer’s identity. The country has already issued a total of 26 million machine readable passports.
June 2019, Rwanda became the latest country from the East African Community (EAC) to launch and issue electronic passports. This is was done in an effort to make border clearance fast and as part of the region’s strategy to promote integration. Some of the other EAC countries that have already issued e-passports include Tanzania, Uganda, and Kenya.
June 2019, the Ministry of External Affairs of India announced its plans of working on an advanced electronic passport system that is chip-enabled. This is as part of the effort from the ministry to deliver citizen-centric services through various reforms.
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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