The “E-passport Market” 2024-2032 Research Report provides both qualitative and quantitative insights into market growth factors, limitations, opportunities, and challenges. It offers comprehensive market data on key players and revenue forecasts. The report includes revenue growth statistics for various and country-level markets, along with insights into competition and detailed company analyses for the projected period. The E-passport Market Report covers growth drivers, current market share, adoption of various types, technologies, applications, and trends up to 2032.
The global e-passport market revenue was around US$ 28.8 billion in 2022 and is estimated to reach US$ 256.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 24.8% during the forecast period from 2023 to 2032.
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An e-passport is an electronic chip that is printed on the page of the passport, which includes different kinds of information like date of birth, name of the holder, and other characteristic information. Also, this technology stores passenger data on a smart chip, which has a special identification number and digital signature.
Factors Influencing Market Growth
-The rise in developed verification technology to catch identity frauds and the presence of developed airport infrastructure among developing nations are some of the essential factors that drive the growth of the global e-passport market across the world.
-The rise in several people traveling to cross-border destinations pushes the growth of the global e-passport market.
-The high implementation cost hinders the growth of the e-passport market.
-The rise in the adoption of wireless communication technology in the travel industry is anticipated to deliver remunerative opportunities for the development of the global e-passport market during the forecast period.
Impact of COVID-19
The COVID-19 pandemic outbreak had a significant influence on the growth of the e-passport market because of the lockdown and social distancing to prevent the spread of the virus and cancelled international traveling services which has hampered the growth of the e-passport market.
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Regional Analysis
In 2022, Europe dominated the global e-passport market in terms of revenue and is anticipated to maintain its position during the forecast period. This is attributed to the presence of evolved airport infrastructure in the Germany and UK and the rise in the usage of smartphones during traveling.
Also, Asia-Pacific is anticipated to notice a significant growth rate during the forecast period because of the rise in favorable government guidelines regarding e-passports across the region, the increase in demand among developing nations, and the introduction of e-passport smart gates at airports across different developing countries.
Leading Companies
The leading prominent companies profiled in the global e-passport market are:
-3M
-4G Identity Solutions, LLC
-CardLogix Corporation
-Eastcompeace Technology Co., Ltd.
-Entrust Corporation
-HID Global Corporation
-Infineon Technologies AG
-Muhlbauer Group
-Safran
-Thales Group.
-Other prominent key players
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Segmentation Outline
The global e-passport market segmentation focuses on Technology, Application, and Region.
Segmentation based on Technology
-Radio Frequency Identification (RFID)
-Biometric
Segmentation based on Application
-Leisure Travel
-Business Travel
Segmentation based on Region
-North America
-The U.S.
-Canada
-Europe
-UK
-Germany
-France
-Italy
-Spain
-Netherlands
-Rest of Europe
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-Asia-Pacific
-China
-Japan
-India
-Australia
-South Korea
-Singapore
-Rest Of Asia-Pacific
-LAMEA
-Latin America
-Middle East
-Africa
Key Questions Market Research and Analysis Report
What is the current market size, both in terms of value and volume?
What is the historical growth rate of the market, and what are the projected growth rates for the future?
Who are the major players in the market, and what is their market share?
What are the market trends and dynamics influencing the industry?
What are the key drivers of market growth?
What are the challenges and barriers faced by market participants?
What are the emerging opportunities in the market?
What is the competitive landscape of the market?
What are the consumer preferences, behaviors, and buying patterns within the market?
What is the market segmentation, and how are different market segments performing?
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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
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