Overview:

The e-passport and e-visa market has been studied by Market Research Future (MRFR) analysts to understand what trends are impacting its outcome and how it is going to fare in the coming years. The study covers significant data like market trends, drivers, demand, size, share, SWOT analysis, expert review, market challenges & E-passport and E-visa Market Forecast. The global E-passport and E-visa Market is set to record a 7.7% CAGR during the ongoing forecast period of.

The entire process to work things digitally would help the end user in getting approvals for e-visa in a simplified way. At the same time, this will curb hassles during the immigration process. This upgradation in the system is happening at a global scale owing to which countries are making this mandatory, which will inspire more uptake. However, in under-developed countries this idea of e-passport and e-visa is yet to get a proper acknowledgement as they lack infrastructure.

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Growth Boosters and Main Restraints 

Following a series of terrorist attacks in the past few decades, ePassport and eVisa are being viewed as a foundation for global security. ePassports and eVisas have become mainstream and have also given rise to a sustainable multi-billion-dollar market that is expected to fundamentally transform the worldwide border and travel control infrastructure. They also promptly deliver on the promise of creating a consistent, secure, and highly reliable identification infrastructure. 

The marketplaces for E-passport and E-visa involve the credentialing, verification and enrollment processes along with solutions integration as well as related physical and logical technology that deploy and leverage biometric technology. The requirements as well as processes vary from country to country, as they employ a varying levels of automation.  The intense efforts and increasing investments for building smart borders as well as smart airports to facilitate fast and secure travel have pushed the demand for ePassports and eVisas, benefitting the market.

Increasing number of identity frauds, surge in advanced airport infrastructure, growth in air traffic and supportive regulatory structure bolster the market growth to a large extent. The ability of e-passport to facilitate quicker security checks as well as verification of passengers at airports and international borders along with the rising adoption by various countries to elevate safety of citizens and lower the chances of visa fraud can significantly boost the demand for E-passport market.

Segmentation:

The global study of the e-passport and e-visa market has been reviewed by MRFR analysts on the basis of a segmentation that includes type, application, and hardware components as important measures. 

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By type, the global review of the e-passport and e-visa market has been sub-segmented into biometrics and RFID. The biometrics segment includes an understanding of facial recognition, fingerprint recognition, and iris recognition.

By application, the review of the global e-passport and e-visa market includes segments like travelling, identification proof, and immigration or border control. The travelling segment can be assessed on the basis of leisure travel, business travel, and foreign affairs.

By hardware components, the understanding of the e-passport and e-visa market includes a study of antenna, processor/chip, and others.

Regional Analysis:

In North America, investment in the sector, infrastructure, and easy adoption of advanced technologies will boost the market. In Europe, the market will find similar tailwinds. 

Competitive Analysis:

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Industry News:

In 2020, the Banglasdesh government announced that they are incorporating e-passport as a standard measure. This is to expand digital e-services for travel abroad. This comes in line with India’s decision to step forward with e-passports and the two countries have agreed to reduce the problems associated with document processing. Government sources have said that the process will start taking place by the end of 2020 and then the officials will expand the service in phases. The Department of Immigration and Passports declared that they will issue 48-page and 64-page e-passports for a validity of 5 years and 10 years, respectively.

The Indian government has also announced that it will start providing e-passports to its residents from 2021. The new endeavor is in sync with the government’s plans to digitize various procedures and ease the workflow. This upgraded passport will deter forgery, prevent identity theft, and accelerate the immigration process. The microchip in the passport will have vital information like the holder’s biometric information and security features to arrest unauthorised data transfer through RFID.

The COVID-19 pandemic has triggered the demand for a system that will set things in motion without too many stops or chances of contact. That is why the system is expected to get better traction from countries across the world. In addition, countries are also restricting entry without a proper e-passport, which would provide traction to the e-passport market.

TABLE OF CONTENTS

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

Continued...

5 Industry Overview Of Global E Passport And E Visa Market

Continued...

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