Farmington, April 17, 2023 (GLOBE NEWSWIRE) -- The Global E-Passport Technology Market Was Valued At $30.4 billion In 2022 And Is Expected To Expand $213.65 billion By 2030 at a CAGR Of 23% from 2023 To 2030. Key factors driving the growth of this market include Emphasizing on Innovative Verification Techniques to Detect Identity Frauds, the number of individuals traveling to cross-border places is increasing.
In order to detect identity frauds and presence of advanced airport infrastructure among developing nations, the growth of the e-passport market trends include rise in advanced verification technology. Also, the development of the global e-passport market is propelled by an increase in the number of travellers to international destinations.
Request Sample Copy of Report “E-Passport Technologies Market Size, Share & Trends Estimation Report By Application Type Outlook (Leisure Travel, Business Travel) By Technology (Radio Frequency Identification, Biometrics) By Security (Basic Access Control, Password Authenticated Connection Establishment, Supplemental Access Control, Extended Access Control) By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Application Outlook:
The category of leisure travel applications is anticipated to hold close to 79.1% of the global e-passport market in 2028. In recent years, the demand for e-passports has increased due to a rise in disposable income and a simplification of international travel protocols.
As the threat of terrorism and other illicit activity increases, so does the concern for security. Electronic passports contain biometric data of the passport bearer. Therefore, it is reliable and provides greater security. Increasing security concerns may therefore have a significant impact on the expansion of the global e-passport market.
Technology:
The market for e-passport technologies is segmented by technology into radio-frequency identification (RFID) and biometrics. Radio Frequency Identification (RFID) utilizes passive identification to identify tagged objects using radio waves. It is utilized in a variety of commercial and industrial applications, such as inventory management and library checkout monitoring. Biometric passports, also known as electronic passports, are more contemporary than conventional passports. It has additional security features, such as an embedded microchip containing the holder's confidential information.
Security:
On the basis of security, electronic credentials are divided into four categories: basic access control, password-authenticated connection establishment, supplemental access control, and extended access control. The Password Authenticated Connection Establishment (PACE) security market is anticipated to expand at a CAGR of 26.5% between 2022 and 2028.
In response to the increasing demand for enhanced data security and data encryption, the majority of e-passports are deploying extended access control. Conventional e-passports were based on BAC (Basic Access Control) and contained fundamental information on a chip; however, as a result of technological advances, e-passports are now being issued with biometric information and advanced SAC and PACE technologies.
Regional Analysis:
During the forecast period, North America is anticipated to remain one of the most attractive markets. The study predicts that the United States will account for roughly 72 percent of the North American market by 2028.
During the forecast period, the demand for e-passport technology in France is projected to increase at a CAGR of approximately 18.2%. The demand for e-passport technology is growing as a result of a number of factors, such as the surge in the introduction of microprocessor-based passports and the increasing adoption of upgrade convenience by travellers and others.
It is estimated that Spain and the Benelux account for 13 percent of the total incremental dollar opportunity created in the region. Europe's governments are also investing heavily in the development of airport infrastructure and the installation of RFID and biometric security checkpoints.
By 2028, Singapore will be one of the largest consumer markets for e-passport technology, with market growth anticipated to be 3,8-fold. The Singapore market is anticipated to have a total dollar potential of $3.6 billion between 2022 and 2028. South Asian nations such as Singapore and other developing nations continue to invest in developing these passports, which are only available to government employees and diplomats. The demand for e-passports in these nations is anticipated to increase significantly during the forecast period.
Geographically, the global E-passport Technologies market has been segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East, and India, among others. This market will be dominated by the global region in the near future.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 23% from 2023 to 2030. |
| Revenue Forecast by 2030 | $213.65 billion |
| By Application |
|
| By Technology |
|
| By Security |
|
| By Companies |
|
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Restraining Factors:
As with any electronic device, e-passports are susceptible to cyber-security threats such as malware attacks and cyberattacks. To protect against such threats, governments must ensure that the e-passport system is secure and routinely updated. Adoption of electronic passports requires substantial infrastructure investment. It can be challenging and time-consuming for governments to ensure that technology is implemented correctly and efficiently.
Opportunity Analysis:
- The emergence of Wireless Technology
- Development in Advanced Airport infrastructure
Key Segments Covered:
Top Market Players:
- Gemalto
- HiD Global
- 4G Identity Solutions
- CardLogix
- IDEMIA
- Primekey Solutions
- Entrust Datacard.
- Others
By Application
- Leisure Travel
- Business Travel
By Technology
- Radio-frequency Identification (RFID)
- Biometrics
By Security
- Basic Access Control
- Password Authenticated Connection Establishment
- Supplemental Access Control
- Extended Access Control
By Industries
- Gemalto
- HiD Global
- 4G Identity Solutions
- CardLogix
- IDEMIA
- Primekey Solutions
- Entrust Datacard.
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
- Biometric Authentication and Identification Market - At a compound annual growth rate (CAGR) of 14.10% between 2022 and 2030, the biometric authentication and identification market is expected to expand from its 2022 level of USD 21.72 billion to a 2030 level of USD 82.9 billion.
- Radio-Frequency Identification Market - By 2030, the radio-frequency identification market is expected to be worth USD 35.6 billion, up from an estimated USD 14.27 billion in 2022. This represents a CAGR (Compound Annual Growth Rate) of 11.9%.
- Airport Services Market Sales- In 2022, the airport services market sales was estimated at USD 97.87 billion; between 2023 and 2030, that number is expected to grow to USD 290.23 billion, or a CAGR of 16.80%.
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About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
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