E-passport Market is Booming Worldwide with Latest Rising Trends

HTF Market Report

Updated · Jun 04, 2023

E-passport Market is Booming Worldwide with Latest Rising Trends

Published Via 11Press : The biometric data of the user is stored on a chip in the e-passport that has a 60-kilobyte capacity. It enables data to be stored and transferred electronically, enhancing security and providing transparency to travel documents. Globalization and the demand for increased security are the main factors driving the market for e-passports. However, implementation costs and compatibility problems are posing a challenge to the industry. Due to the enormous opportunity given by the expansion of travel and tourism, rising demand for international education, and increased emphasis on sustainability, the industry is predicted to continue growing overall.

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E-passport Market Report Highlights:

Attributes Details
Study Period 2018-2028
Base Year 2022
Forecast Period 2022-2028
Value Unit USD (Million)
Customization in Scope With the purchase of the E-passport Market Study, receive personalization. Subject to practicality, you can include or modify a nation, or area, or acquire a more detailed segmentation in the final output.

Major players such as:

  • Thales
  • HID Global Corporation
  • IDEMIA
  • Giesecke+Devrient
  • Bundesdruckerei
  • Morpho
  • Eastcompeace Technology
  • Mühlbauer
  • Oberthur Technologies Group
  • Safran
  • Veridos
  • NEC Corporation

Breakdown by Application:

  • Regular passports
  • Official passports
  • Diplomatic passports
  • Service passports

By Types:

  • Business
  • Leisure
  • Education

By Technology:

  • Radiofrequency Identification (RFID)
  • Biometrics

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  • Since July 2, 2021, Estonian citizens have benefited from the enhanced security offered by modern electronic passports.
  • The Police and Border Guard Board (PPA) of Estonia received the document issuance solution from ASSA ABLOY Group company HID.
  • With so many businesses performing research and development to provide more sophisticated solutions and gain a competitive edge, the market for E-passports is still developing.
  • The company’s main objective is to allow wider implementation of the e-passport solution by making it interoperable with other technologies.
  • Companies frequently use mergers, acquisitions, and partnerships as marketing expansion methods.
  • The training examines the marketplace competitive situation and provides details on a number of vendors, counting Thales Group, HID Global Corporation, and IDEMIA.

Market Growth Drivers:

  • The demand for greater security and globalization are driving market expansion. Biometric data from e-passports, including fingerprints and face recognition, can increase security and lower the possibility of identity theft.
  • For governments and border control organizations looking to increase national security, this is especially crucial.
  • Passport technology that is safe, effective, and cross-border interoperable is in demand because of the rise in international travel and the number of world citizens.
  • E-passports provide a standardized answer that can address these requirements.

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Restraints:

  • The expansion of the general usage of E-passports faces challenges from implementation costs and compatibility difficulties.
  • Infrastructure and technological advancements like biometric scanners and passport readers are crucial for e-passports.
  • Adoption may be hampered by this, especially in less developed nations with few resources.
  • E-passports need for system and technology compatibility, which can be difficult for governments and organizations with various standards and requirements.

Opportunities:

  • The global need for security and travel transparency has increased as a result of the expansion of the travel and tourist industries.
  • Additionally, there is a greater demand for efficient passport applications as more students aim to study abroad.
  • The market is anticipated to keep expanding in the future, supported by the desire for a streamlined application procedure as well as for security and travel transparency.
  • Globally, there has been a growing emphasis on sustainable solutions, which has fueled the expansion of e-passports since they are more cost-effective, sustainable, and sustainable than traditional passports.

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Content has been published via 11press. for more details please contact at [email protected]

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