E-Passport Market worth USD 97,617 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "E-Passport Market by Technology (RFID and Biometric), by Application (Leisure Travel and Business Travel) by Region – Global Share and Forecast to 2027".

The global e-passport market size is expected to reach USD 97,617 million by 2027 from USD 20,917 million in 2020, at a CAGR of 27.5% during the forecast period. An increase in the number of individuals traveling across borders for numerous reasons such as trading, tourism, and health treatment drives the growth of the e-passport market across the globe. In addition, a surge in the number of people traveling abroad for work or education purposes also propels the market's growth. Various countries such as Saudi Arabia and UAE are hiring laborers and other workers from different countries, which also boosts the development of the market. Furthermore, increasing awareness among people to learn different cultures and surge in international trading services are important factors that impact the number of people traveling abroad. Hence, all such aspects propel the market.
Browse 211 market data Tables and 63 Figures spread through 234 Pages and in-depth TOC on "E-Passport Market Research Report 2021-2027."

Get Free Sample Report: https://www.marketstatsville.com/request-sample/e-passport-market

Global E-Passport Market Segmentation

The overall e-passport market has been segmented into technology, application, and region.
• By Technology (RFID and Biometric)

• By Application (Leisure Travel and Business Travel)

• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Buy Now at 25% discount: https://www.marketstatsville.com/buy-now/e-passport-market

Leisure travel, by application, is estimated to hold the largest market share during the forecast period
Based on application, the global e-passport market is segregated into leisure travel and business travel. The leisure travel segment accounted for the largest market revenue share in 2020. Leisure travel is a journey taken by a person to enjoy and relax in their time. E-passport allows people around the globe to securely store their personal information that propels the adoption of e-passport among people.

In addition, the rise in demand among people to immediately identify information, the surge in the use of digital technology such as smartphones, and the increase in digitalization in the tourism industry are important factors that propel the growth of the e-passport market. Moreover, the rise in the number of vacations and other types of trips in developing nations is expected to provide lucrative opportunities for market growth.

Don't miss out on business opportunities in E-Passport Market. Speak to our research analyst and gain crucial market insights that will benefit your business grow.

Europe accounts for the largest market share in the e-passport market 2020
Based on the regions, the global e-passport market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Europe was the highest revenue contributor 2020. The e-passport market in Europe is analyzed across the UK, Germany, France, Spain, Italy, the Netherlands, and the rest of Europe. The rise in need of advanced technologies at airports to streamline the identification process, increase the security of biometric information, and improve customer satisfaction are major factors that boost the e-passport market in this region.

Increase in adoption of e-passport technology across the UK, Germany, and France, owing to its numerous benefits to the airport, such as protecting traveler information from cyber-attacks, improved speed of identity checks, and easy identification of fraudulent activities, drive the growth of the market. In addition, innovative e-passports are developed with RFID technology, which helps people securely store information such as photographs, fingerprints, and detailed documents, driving the growth of the e-passport market in this region. Furthermore, with growth in passport frauds and the increase in fake immigrants and visas across various European countries has increased demand for the e-passport market across the region. In addition, governments across European nations are rapidly adopting the e-passport system to reduce tampering of passport pages and reduce growing frauds, which provides lucrative opportunities for the market.

4G Identity Solutions, 3M, LLC, Eastcompeace Technology Co., Ltd., HID Global Corporation, Muhlbauer Group, Safran, Entrust Corporation, CardLogix Corporation, Thales Group, and Infineon Technologies AG are some of the players in the global market of e-passport. These market players have focused on acquisitions and expansion to gain a larger market share in the e-passport market.

Browse complete report: https://www.marketstatsville.com/e-passport-market

Contact Us:
Market Statsville Group
416, East Standsberry Street, Perkins, Oklahoma 74059, USA
USA: +1-580-205-2707 | +91 702 496 8807
Email: sales@marketstatsville.com
Web: www.marketstatsville.com

Content Source:
https://www.marketstatsville.com/press-release/e-passport-market

About Market Statsville Group
Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.
MSG has an entire repository of research reports on more than 1,000 niche industries, 3,000 high-growth potential markets, 5,000 data sets, and more than 12,000 company profiles.

This release was published on openPR.