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Rising International Travel Trends Fueling Growth In The E-Passport Market: Key Factor Driving The Growth In The E-Passport Market
E-Passport Market
What Is the Expected E-Passport Market Size During the Forecast Period?
The size of the e-passport market has seen an exponential increase in recent years. An upsurge from $41.56 billion in 2024 to $52.63 billion in 2025 at a compound annual growth rate (CAGR) of 26.6% is predicted. The surge in the historical span is due to higher smartphone use, escalating worries about payment safety, the trend towards contactless payment, the popularity of biometric authentication, and consumer appetite for smooth transactions.
The market for e-passports is predicted to witness tremendous expansion in the forthcoming years. It is forecasted to increase to $121.53 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 23.3%. The surge in the predicted timeframe is due to factors such as its compatibility with wearable gadgets, evolution in liveness detection technology, legislative structures supporting biometric payments, end-user awareness and acceptance, and customization for various sectors. Influential trends during this forecast period consist of collaborations between tech service providers and finance institutes, progression in face identification technology, government advocacy for digital transactions, worldwide spread of digital payment systems, and the fusion with blockchain and digital currency.
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What Are the High-Growth Segments in the E-Passport Market?
The e-passport market covered in this report is segmented -
1) By Components: Hardware, Software, Services
2) By Security: Basic Access Control, Password Authentication Connection Establishment, Supplement Access Control
3) By Technology: Radio Frequency Identification, Biometrics
4) By Application: Business Travel, Leisure Travel
Subsegments:
1) By Hardware: E-passport Reader Devices, Embedded Microchips, Smart Cards
2) By Software: E-passport Management Software, Security And Encryption Software, Data Authentication Software
3) By Services: E-passport Issuance Services, E-passport Personalization Services, Maintenance And Support Services
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What Key Drivers Are Expected to Influence Future E-Passport Market Growth?
The e-passport market's progress is projected to be amplified by the escalating demand for international travel. This global mobility requires compliance with each destination's specific entry regulations and laws, necessitating the use of e-passports. These digital passports are utilized at border checkpoints where their in-built electronic chips validate the user's biometric data, fortifying security measures and streamlining immigration procedures. As an illustration, the International Trade Administration, a US-based government agency, recorded a 199.7% increase in non-US resident arrivals and a hike of 160.8% in the visitor volume of non-US residents in July 2022. Furthermore, departures to international locations by US citizens saw a boost of 63%. Hence, the rising demand for international travel is powering the ascent of the e-passport market. E-Passport Market Driver: The E-Passport Market's Growth is Fuelled by Rising Instances of Fake Passport
Which Companies Hold the Largest Share Across Different E-Passport Market Segments?
Major companies operating in the e-passport market report are 3M, Safran SA, Thales Group, Infineon Technologies Ag, NXP Semiconductors N.V., ASSA ABLOY AB, Zebra Technologies Corporation, Giesecke & Devrient GmbH, Gemalto N.V., IDEMIA, Entrust Datacard Corporation, HID Global Corporation, Entrust Inc., Iris Corporate Solutions Private Limited, Bundesdruckerei GmbH, Muhlbauer Group, De La Rue PLC, Zetes Industries SA, Eastcompeace Technology Co. Ltd., 4G Identity Solutions Pvt. Ltd., Utimaco IS GmbH, Veridos GmbH, Dermalog Identification Systems, Techno Brain Group, Cognitec Systems GmbH, Ask Media Group LLC, Innovatrics, Primekey Solutions AB, CardLogix Corporation, IDEX Biometrics
What Trends Are Driving Growth in The E-Passport Market?
Leading firms in the e-passport sector are prioritizing innovation and incorporation of biometrics technology as a countermeasure against fraud and identity theft. Biometrics technology is a system designed to uniquely identify individuals via their unique physical or behavioral traits. For instance, Kenya's government, in November 2022, rolled out the biometric e-passport of the East African Community (EAC). The introduction of an upgraded e-passport, equipped with superior security features and technology, is a crucial element of the extensive passport system revamp initiative not only in Kenya but also in other East African Community member countries. This revamp initiative covers Burundi, the Democratic Republic of Congo, Rwanda, South Sudan, Tanzania, and Uganda.
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What Are the Emerging Geographies for The E-Passport Market Growth?
North America was the largest region in the e-passport market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the e-passport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the E-Passport Market?
2. What is the CAGR expected in the E-Passport Market?
3. What Are the Key Innovations Transforming the E-Passport Industry?
4. Which Region Is Leading the E-Passport Market?
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