E-Passport Market Growth 2024, Industry Trends, Demand and Analysis Report By 2032
IMARC Group's report titled "E-Passport Market Report by Technology (Radio Frequency Identification (RFID), Biometric), Security (Basic Access Control, Password Authenticated Connection Establishment, Supplemental Access Control, Extended Access Control), Application (Leisure Travel, Business Travel), and Region 2024-2032". Offers a comprehensive analysis of the industry, which comprises insights on the global E-passport market trends. The global market size reached US$ 29.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 81.5 Billion by 2032, exhibiting a growth rate (CAGR) of 11.81% during 2024-2032.
- Technological Advancements:
The e-passport industry is experiencing
significant growth due to continuous technological advancements. These
innovations include the integration of biometric features such as fingerprints
and facial recognition, enhanced security features, and improved data
encryption. These developments boost the security of e-passports as well as
streamline the verification process at border control points, reducing wait
times and enhancing the overall traveler experience. Moreover, the rising
adoption of contactless smart card technology further accelerates the market
growth by providing convenience and speed at border crossings. As technology
continues to evolve, e-passports are poised to become even more secure and
user-friendly, driving further growth in the industry.
- Increasing International Travel:
The rising trend of international travel is a
major driver of the e-passport industry’s growth. With more people traveling
abroad for tourism, business, and education purposes, governments of various
countries are keen to strengthen their border security and streamline
immigration processes. E-passports offer a viable solution by providing a
secure and efficient means of verifying travelers' identities. As international
travel continues to grow worldwide, the demand for e-passports is expected to
rise simultaneously, making it a pivotal factor fueling the industry's
expansion.
- Government Initiatives and Regulations:
Favorable government initiatives and
regulations also play a crucial role in stimulating the growth of the
e-passport market. Many countries are mandating the use of e-passports to
strengthen national security and facilitate international travel. This heightened
government support in the form of funding and regulatory frameworks is
accelerating the adoption of e-passports. Additionally, international
organizations like ICAO (International Civil Aviation Organization) set
standards and guidelines for e-passport features, ensuring global
interoperability. Such initiatives and regulations create a conducive
environment for e-passport adoption and catalyze market growth.
Leading Companies Operating in the Global
E-Passport Industry:
- 4G Identity Solutions Private Limited (Goldstone Technologies Ltd.)
- CardLogix Corporation
- Entrust Corporation
- HID Global Corporation (Assa Abloy AB)
- IDEMIA
- Infineon Technologies AG
- MΓΌhlbauer Group
- Primekey Solutions AB (Keyfactor)
- Thales Group
For an in-depth analysis, you can refer sample
copy of the report: https://www.imarcgroup.com/e-passport-market/requestsample
E-Passport Market Report Segmentation:
By Technology:
- Radio Frequency Identification (RFID)
- Biometric
Radio frequency identification (RFID)
dominates the market by technology due to its widespread adoption for secure
data storage and quick, contactless identity verification, making it the
preferred technology choice for e-passports.
By Security:
- Basic Access Control
- Password Authenticated Connection Establishment
- Supplemental Access Control
- Extended Access Control
Based on the security, the market has been
classified into basic access control, password authenticated connection
establishment, supplemental access control, and extended access control.
By Application:
- Leisure Travel
- Business Travel
Leisure travel represents the largest market
segment owing to the growing number of tourists worldwide and the rising need
for efficient and secure border control processes, driving the demand for
e-passports mainly in the leisure travel sector.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia,
Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia,
Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Ask Analyst for Sample Report: https://www.imarcgroup.com/request?type=report&id=6000&flag=C
Global E-Passport Market Trends:
The e-passport market is currently witnessing
several notable trends, including the integration of advanced biometric
features, such as facial recognition and fingerprints, which are gaining
prominence and enhancing security levels. Moreover, the market is experiencing
a rise in demand due to the increasing number of international travelers,
necessitating efficient border control solutions. In line with this,
governments are increasingly adopting e-passports as a standard travel
document, thereby propelling market growth. Besides this, continuous
technological innovations, like contactless smart cards, are further improving
the user experience. These trends collectively indicate a promising future for
the e-passport market with a heightened focus on security, efficiency, and
convenience for travelers, thus augmenting market growth.
Note: If you need specific information that is
not currently within the scope of the report, we will provide it to you as a
part of the customization.
About Us:
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and regions to identify their highest-value opportunities, address their most
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technological developments for business leaders in pharmaceutical, industrial,
and high technology organizations. Market forecasts and industry analysis for
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Our offerings include comprehensive market intelligence in the form of research
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