Rising International Travel Trends Fueling Growth In The E-Passport Market: Critical Driver Shaping the E-Passport Market in 2025

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E-Passport Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for e-passports has seen a considerable expansion in the past few years. It is predicted to rise from $41.56 billion in 2024 to $52.63 billion in 2025, with a compound annual growth rate (CAGR) of 26.6%. Factors contributing to this growth during the historic period include higher smartphone usage, increased focus on payment security, the emergence of contactless payments, growing acceptance of biometric authentication, and the consumer's demand for smooth transactions.

E-Passport Market Size Forecast: What's the Projected Valuation by 2029?
Anticipations for the e-passport market are on a high note as it is set to experience an explosive increase in size in the years to come. By 2029, it is projected to reach a staggering $121.53 billion, boasting a compound annual growth rate (CAGR) of 23.3%. Elements that fuel growth in the estimated period include its pairing with wearable tech, breakthroughs in liveness detection, legal structures related to biometric payments, user understanding and approval, as well as adaptability to various sectors. During the projection period, key developments are expected such as collaborations between tech providers and financial bodies, enhancements in facial recognition technology, governmental backing for digital payments, worldwide digital payment infrastructure development, and the incorporation of blockchain and cryptocurrency.

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What Are the Drivers Transforming the E-Passport Market?
The e-passport market is projected to expand due to the increasing demand for international travel. The need for international travel, spanning tourism, business, and personal motives and involving geographical border-crossing, necessitates compliance with diverse entry protocols and regulations specific to each destination. E-passports are utilized in these instances, presented ad border checkpoints, where vital biometric data is stored and authenticated via an inbuilt electronic chip, providing advanced security measures and expediting immigration procedures. The International Trade Administration, a governmental entity based in the United States, revealed in July 2022, that the entries of non-U.S residents escalated by 199.7%, and visitor volume heightened to 160.8%. Moreover, international departures by U.S. citizens rose by 63%. The e-passport market's growth is consequently driven by the increasing demand for international travel. Rapidly increasing incidents of counterfeit passports are also likely to push the expansion of the e-passport market. A counterfeit passport is a fraudulent document forged to resemble a bona fide passport issued by government bodies or authorized agencies. E-passports offer superior protection against such counterfeits, utilizing electronic signatures and face-recognition technology to validate the genuineness and integrity of passport data. In February 2023, Identity Week, a network provider catering to identity-centric professionals based in the UK, divulged that fake passports were the highest amongst counterfeited documents, indicating a 6% surge since 2021, and constituting 45% of the total false documents in 2022. Thus, the proliferating incidents of counterfeit passports are anticipated to impel the e-passport market.

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What Long-Term Trends Will Define the Future of the E-Passport Market?
Leading businesses in the e-passport industry are concentrating on the creation and integration of biometrics technology to provide increased security and safeguard against fraud and identity theft. Biometrics technology involves the use of techniques for distinctly identifying people based on their physical or behavioral traits. For example, in November 2022, the Kenyan Government introduced the Biometric e-passport for the East African Community (EAC). The introduction of an elevated e-passport that includes advanced security and tech measures is a crucial element of the overarching modernization strategy for the passport system in Kenya and other EAC member countries. This approach includes Burundi, the Democratic Republic of Congo, Rwanda, South Sudan, Tanzania, and Uganda.

Which Segments in the E-Passport Market Offer the Most Profit Potential?
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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Which Firms Dominate the E-Passport Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in the E-Passport Market?
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.

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