The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Global E-Passport Market (2024-2030):
According to the latest report, the Global E-Passport Market size is estimated to grow at a CAGR of around 21.65% during the forecast period, i.e., 2024-30. The report demonstrates the prominent factors propelling the exponential growth of the Global E-Passport Market.
Key Takeaways: Beneficial for Stakeholders and Clients
- Historic Period: 2019-2022
- Base year: 2023
- Forecast Years: 2024-2030
- CAGR (2024-30): 21.65%
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What are the major Driver the Global E-Passport Market?
Surging International Travel to Drive Market Growth – During the last decade, many economies have experienced significant economic growth, leading to a surge in disposable income, which has enabled more individuals to afford international travel. Additionally, the increase in the number of low-cost carriers has made air travel more accessible, which has subsequently enhanced international tourism. For instance,
- In 2023, as per the United Nations World Tourism Organization (UNWTO), international arrivals reached approximately 1.3 billion.
The growth in international tourism has enhanced the focus on standardizing travel documents to ease the process of international travel, owing to which countries across the globe are adopting e-passports. Moreover, there’s been a significant increase in the number of students seeking educational opportunities abroad across the globe. Along with this, many universities and educational institutions, especially in North America and Europe, are actively promoting international campuses and partnerships. The increase in international student mobility highlights the advantages of adopting e-passports for governments to facilitate smoother and more efficient border crossings. This is anticipated to drive market growth & expansion during the forecast period.
Global E-Passport Market Segmentation
The Global E-Passport Market analysis of MarkNtel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Type
- Biometric e-Passports- Market Size & Forecast 2019-2030, (USD Million)
- Face Recognition
- Fingerprint Recognition
- Iris Recognition
- Others
- Non-Biometric e-Passports- Market Size & Forecast 2019-2030, (USD Million)
- Radio-Frequency Identification (RFID)
- Others
- Biometric e-Passports- Market Size & Forecast 2019-2030, (USD Million)
- By Security
- Basic Access Control- Market Size & Forecast 2019-2030, (USD Million)
- Extended Access Control- Market Size & Forecast 2019-2030, (USD Million)
- Supplemental Access Control- Market Size & Forecast 2019-2030, (USD Million)
- Biometric Authentication- Market Size & Forecast 2019-2030, (USD Million)
- By Component
- Electronic Chip- Market Size & Forecast 2019-2030, (USD Million)
- Antenna- Market Size & Forecast 2019-2030, (USD Million)
- Biometric Capture Devices- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
- By Application
- Traveling- Market Size & Forecast 2019-2030, (USD Million)
- Business Travel- Market Size & Forecast 2019-2030, (USD Million)
- Leisure Travel- Market Size & Forecast 2019-2030, (USD Million)
- Border Control and Immigration- Market Size & Forecast 2019-2030, (USD Million)
- Identity Proof- Market Size & Forecast 2019-2030, (USD Million)
- Traveling- Market Size & Forecast 2019-2030, (USD Million)
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
As per the regional aspect, the Global E-Passport Market is expected to be dominated by the North America by capturing the potential market share.
Explore further details about this research report- https://www.marknteladvisors.com/research-library/e-passport-market.html
Top Companies in the Global E-Passport Market
CardLogix Corporation, 4G Identity Solutions, 3M, HID Global Corporation, IDEMIA, Infineon Technologies AG, Eastcompeace Technology Co., Ltd., Entrust Corporation, Muhlbauer Group, Iris Corporation, Thales Group, Safran Identity and Security, PrimeKey Solutions AB, Datacard Group, Others,
Global E-Passport Industry Recent Development
- In 2023: Infineon Technologies AG issued nearly five million next-generation electronic passports, incorporating (FSE: IFX / OTCQ: IFNNY) innovative coil-on-module (CoM CL) solution in Turkey. This cutting-edge technology, designed to meet the highest security standards, has resulted in an ultra-thin electronic data page that ensures exceptional durability and protection against forgery.
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