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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.

E-passport Market Revenue Analysis

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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.

MARKET DYNAMICS:

KEY DRIVERS:

  • Advancements in sophisticated verification technologies for detecting identity theft.

  • Availability of sophisticated airport infrastructure in poor countries.

RESTRAINTS:

  • High implementation costs limit growth.

  • Cyber-attacks are becoming more frequent.

OPPORTUNITY:

  • 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.

MARKET ESTIMATION:

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

  • RFID

  • Biometrics

On The Basis of Application

  • Business Travel

  • Leisure Travel

On The Basis of Security

  • Basic Access Control

  • Password Authenticated Connection Establishment

  • Supplemental Access Control

  • Extended Access Control

E-passport Market Segmentation Analysis

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REGIONAL ANALYSIS:

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.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

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

E-passport Market Report Scope:
Report Attributes Details
Market Size in 2022  US$ 34.32 Billion
Market Size by 2030  US$ 201.18 Billion
CAGR  CAGR 25.68% From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • 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)
Regional Analysis/Coverage 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)
Company Profiles 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
Key Drivers •Advancements in sophisticated verification technologies for detecting identity theft.
•Availability of sophisticated airport infrastructure in poor countries.
Market Restraints •High implementation costs limit growth.
•Cyber-attacks are becoming more frequent.

Frequently Asked Questions

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. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. E-passport Market Segmentation, by Technology

8.1RFID

8.2Biometrics

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

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

12. Company Profiles

12.1 4G Identity Solutions

12.1.1 Financial

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

12.9 Safran

12.10 Thales Group

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

14. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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