According to IMARC Group’s latest report, titled “E-Passport Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” Offers a comprehensive analysis of the industry, which comprises insights on e-passport market.
Report Metric
Historical: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The global E-passport market size reached US$ 22.23 Billion in 2021. The electronic passport (e-passport), also known as a biometric passport, is a chip-enabled passport with a biometric identification card strengthening the transparency and security of travel documents. It also involves demographic information, iris scans, color photograph, and the digital signature of the holder. It relies on contactless smart card technology consisting of a computer chip or microprocessor chip, such as radio-frequency identification (RFID) chips, which are inserted in the front and back cover of the passport. It offers less processing time and greater data storage capacity. It is scanned through special devices that are more effective against passport fraud as compared to conventionally used passports.
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Market Trends
Considerable growth in the travel and tourism sector and increasing traveling activities represent one of the major factors positively influencing the demand for e-passports around the world. In addition, the rising number of cross-border activities is driving the need for e-passports to detect fraud and secure the personal information of travelers, which is contributing to the market growth. Furthermore, the growing awareness among individuals about the benefits of using e-passports is driving the market. Apart from this, there is an increase in the integration of machine learning (ML) and artificial intelligence (AI) in e-passports to enhance security at airport terminals, which is offering lucrative growth opportunities to key players in the industry. Looking forward, IMARC Group expects the market to reach US$ 51.98 Billion by 2027, exhibiting a growth rate (CAGR) of 14.50% during 2022-2027.
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The report has segmented the market on the basis of technology, security, application and geography.
Breakup by Technology:
- Radio Frequency Identification (RFID)
- Biometric
Breakup by Security:
- Basic Access Control
- Password Authenticated Connection Establishment
- Supplemental Access Control
- Extended Access Control
Breakup by Application:
- Leisure Travel
- Business Travel
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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