Report Scope & Overview:
The E-passport Market size was valued at USD 34.32 Bn in 2022 and is expected to reach USD 213.63 Bn by 2030 and grow at a CAGR of 25.68% over the forecast period 2023-2030.
An e-passport is an electronic chip printed on the page of a passport that stores several forms of information such as the holder's name, date of birth, and other character information. Furthermore, this technology keeps passenger information on a smart chip with a unique identifying number and digital signature. Furthermore, several European nations are embracing e-passports since they are safer than traditional paper passports and lower the possibility of data duplication and tampering.
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An e-passport is a chip-enabled passport that includes a biometric identity card, increasing the transparency and security of travel papers. However, in terms of application, verification, and information, it is identical to a conventional passport. The distinctive benefits of an e-passport are that travelers will not have to wait in line for extended periods of time because it may be scanned in a matter of seconds. It also has an individual biometric record. As a result, it will deter fraudsters from stealing data and creating duplicate passports. Furthermore, no one has the ability to erase data from it.
TCS is expected to launch chip-based e-passports before the end of the year 2022. The new passports will be chip-based. Those now in use will be given a new chip when their contracts expire.
Advancements in sophisticated verification technologies for detecting identity theft.
Availability of sophisticated airport infrastructure in poor countries.
High implementation costs limit growth.
Cyber-attacks are becoming more frequent.
The number of individuals traveling to cross-border places is increasing.
Increase in wireless communication technology use in the tourism sector.
IMPACT OF COVID-19:
The new coronavirus epidemic has wreaked havoc on worldwide markets and is causing more problems. The rapid lockdown established at both regional and worldwide places was concerning since humans were holding the infection and becoming a focus of transmission. During this time period, global demand for e-passports and e-visas increased. People wanted to leave their current location and return to their homes to be with their relatives during such tragic and urgent moments. The anxiety of transferring the infection and entering the phase of community spread of the virus, on the other hand, was considerably greater and took a toll in the globally functional scenario. As a result, after the spread was under control and there were fewer victims and more treatment and immunization available, worldwide governments needed to open their doors to international travel.
RFID technology will dominate the global demand for ePassports, with growth projected between 2023 and 2030. However, the biometrics category is expected to expand the fastest, with a growing CAGR between 2023 and 2030. Biometrics is becoming an essential element in ePassports as it increases security. It also included contactless smart card technology, an integrated Radio Frequency Identification (RFID) chip, additional security measures, and other features. During the projected period, the dependability of such features generates new development prospects for the ePassport market.
In 2028, the leisure travel application category is predicted to dominate the worldwide ePassports market. Growing discretionary money and comparatively easy cross-border travel regulations have raised the demand for ePassports in recent years. The growing threat of terrorism and other criminal activity is raising security concerns. The biometric information of the passport bearer is stored in the ePassport. As a result, it is a dependable and safer solution in terms of security. As a result, rising security concerns may have a substantial influence on the worldwide ePassport market's growth.
ePassports is divided into four security categories: basic access control, password-authenticated connection establishment, supplemental access control, and extended access control. From 2023 to 2030, the password-authenticated connection establishment (PACE) security segment is expected to grow. With the increased need for enhanced data security and data encryption, the majority of ePassports now include expanded access control. ePassports were based on BAC (Minimal Access Control) and were chip-based with basic information; however, as technology advances, ePassports with biometric information and sophisticated SAC and PACE technologies are being employed.
KEY MARKET SEGMENTS:
On The Basis of Technology
On The Basis of Application
On The Basis of Security
Basic Access Control
Password Authenticated Connection Establishment
Supplemental Access Control
Extended Access Control
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During the projected period, the European region is likely to lead the e-Passport market. European countries, especially Germany, the United Kingdom, and France, were early users of biometric systems for a variety of applications such as border control, airport security, identity security, and law enforcement. The Asian Pacific region's e-passport market is predicted to expand significantly throughout the forecast period.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are 4G Identity Solutions, Ask Media Group, LLC, CardLogix Corporation, Eastcompeace Technology Co., Ltd., Entrust Corporation, HID Global Corporation, Infineon Technologies AG, Muhlbauer Group, Safran, Thales Group & Other Players
Entrust Corporation -Company Financial Analysis
|Market Size in 2022
|US$ 34.32 Billion
|Market Size by 2030
|US$ 201.18 Billion
|CAGR 25.68% From 2023 to 2030
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|• By Technology (RFID and Biometrics)
• By Application (Business Travel and Leisure Travel)
• By Security (Basic Access Control, Password Authenticated Connection Establishment, Supplemental access Control, Extended Access Control)
|North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, +D11UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|4G Identity Solutions, Ask Media Group, LLC, CardLogix Corporation, Eastcompeace Technology Co., Ltd., Entrust Corporation, HID Global Corporation, Infineon Technologies AG, Muhlbauer Group, Safran, Thales Group
|•Advancements in sophisticated verification technologies for detecting identity theft.
•Availability of sophisticated airport infrastructure in poor countries.
|•High implementation costs limit growth.
•Cyber-attacks are becoming more frequent.
Ans: - The E-passport market size was valued at USD 34.32 Bn in 2022.
Ans: - High implementation costs limit growth and cyber-attacks are becoming more frequent.
Ans: - During the projected period, the European region is likely to lead the e-Passport market.
Ans. The primary growth tactics of E-passport participants include merger and acquisition, business expansion, and product launch.
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
22.214.171.124 United Kingdom
126.96.36.199 South Korea
188.8.131.52 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. E-passport Market Segmentation, by Technology
9. E-passport Market Segmentation, by Application
9.1 Business Travel
9.2 Leisure Travel
10. E-passport Market Segmentation, by Security
10.1 Basic Access Control
10.2 Password Authenticated Connection Establishment
10.3 Supplemental access Control
10.4 Extended Access Control
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 4G Identity Solutions
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Ask Media Group, LLC
12.3 CardLogix Corporation
12.4 Eastcompeace Technology Co., Ltd.
12.5 Entrust Corporation
12.6 HID Global Corporation
12.7 Infineon Technologies AG
12.8 Muhlbauer Group
12.10 Thales Group
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
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