Press release
E-passport and E-visa Market Report 2023
E-Passport and E-Visa MarketIn order to digitally authenticate a traveler's identity, e-passports and e-visas are utilized. These documents contain a unique identifying number and a digital signature. These cutting-edge digital strategies are being used to improve the security system and decrease fraud. Electronic passports and visas are more secure than their paper equivalents because they prevent data duplication and tampering, which is what the target audience wants. A computer is used to store the data associated with an e-Visa, and the passport number is connected to the computer. This factor is expected to drive the growth of the E-passport and E-visa market.
Due to the COVID-19 pandemic, the global E-passport and E-visa market size is estimated to be worth US$ 10990 million in 2022 and is forecast to a readjusted size of US$ 17050 million by 2029 with a CAGR of 6.4% during the forecast period 2023-2029.
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Trends Influencing the Growth of the Global E-Passport and E-Visa Market
The global e-passport and e-visa market will grow as there is a greater demand for sophisticated verification techniques, better airport infrastructure, a decrease in identity fraud, and a rise in air traffic. The market is comprehensively evaluated in the study on the global e-passport and e-visa market. The research provides a thorough analysis of the market's key segments, trends, drivers, restraints, competitive environment, and other important elements.
The significant growth of the global e-passport and e-visa market is due to a number of factors, such as the ease with which international travelers' documents are verified and processed at airports, the speed with which they can clear immigration and the opportunity for airport security staff to focus their efforts on the investigation of suspicious travelers. This factor is expected to drive the growth of the e-passport and e-visa market
The demand for multi-modal biometrics is rising along with the frequency of cyberattacks. Multi-modal biometrics also makes use of fingerprint, face and iris recognition, and other biometric identifiers. Multi-modal biometrics are thereby helping to overcome the inaccuracies of traditional biometrics and give an improved security layer. The increased use of biometrics in e-passports and e-visas will contribute to improved security at airport terminals. This factor is expected to drive the growth of the e-passport and e-visa market.
E-Passport and E-Visa Market Share
Gemalto, Shanghai Mite Speciality & Precision Printing, India Security Press, and other leading companies worldwide are involved in e-passport and e-visa systems. The market share of the top three manufacturers worldwide is close to 60%.
The biggest market is North America, with a market share of over 30%, followed by China and Europe, both of which have market shares of over 40%.
With a market share of almost 95%, the Ordinary E-passport is the most popular product category.
By Type
• Ordinary E-passport
• Service and Diplomatic E-Passport
By Application
• Adult
• Child
By Region
• United States
• Europe
• China
• Japan
• Southeast Asia
• India
• Other Regions
By Company
• Gemalto
• Shanghai Mite Speciality & Precision Printing
• India Security Press
• Beijing Jinchen Cvic Security Printing
• Bundesdruckerei
• Japan National Printing Bureau
• Goznak
• Casa da Moeda do Brasil
• Canadian Bank Note
• Royal Mint of Spain
• Polish Security Printing Works
• Istituto Poligrafico e Zecca dello Stato
• Iris Corporation Berhad
• Semlex Group
• Veridos
• Morpho
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