Global E-passport market is estimated to reach US$ 80 Bn by the end of 2027. The market is expected to register a CAGR of more than 22% over the forecast period. The market is driven by increasing number of international travellers and government looking for more secure solutions to be able to manage large volumes efficiently. Additionally, need of advanced security of the travelling passengers is estimated to have positive impact on the market. More than 130 countries across the globe have already implemented e-passports.
Adoption of Internet of Things (IoT) has increased at a significant rate during the last decade across the world due to availability of better connectivity and advancements in the technology. Rapid technological developments and internet penetration along with availability of better connectivity options has resulted in infrastructural development approach new ear of pervasive computing. Thus, usage of chips, sensor, RFID tags in the passport is estimated to have a positive impact on the market.
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Why is the E-Passport Market Booming?
- Enhanced Security Features: E-passports incorporate advanced security technologies, including biometric data and electronic chips, making them more secure and less susceptible to fraud. This increased security is driving their adoption among governments and travelers alike.
- Growing Demand for Digital Solutions: As global travel and border security concerns rise, there is an increasing demand for efficient and secure travel documents. E-passports offer a digital solution that streamlines processing and enhances verification accuracy.
- Government Initiatives and Regulations: Many countries are implementing regulations that mandate the use of e-passports for international travel. This push from governments is accelerating the adoption rate and expanding the market.
- Technological Advancements: Innovations in RFID (Radio-Frequency Identification) technology and improved encryption methods are making e-passports more reliable and secure. These technological advancements are driving the market forward.
- Increased International Travel: The resurgence of global travel post-pandemic is further boosting the demand for e-passports. As more people travel internationally, the need for secure and efficient border crossing solutions becomes increasingly apparent.
Market Dynamics and Future Outlook
The e-passport market is characterized by intense competition among key players, including leading technology providers and government agencies. Companies are investing heavily in research and development to introduce cutting-edge solutions that cater to evolving security needs.
Looking ahead, the market is poised for continued growth, driven by technological advancements and increasing global travel demands. As governments and travel authorities prioritize security and efficiency, the adoption of e-passports is expected to rise, further accelerating market expansion.
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The Global E-passport Market is segmented into following categories.
By Component:
- Embedded Systems
- Chips
- Tags
- Others
- Services
By Chip:
- <80 KB
- 80-180 KB
- >180 KB
By Cryptography Type:
- 3DES
- AES up to 256 bits
- Elliptic curve up to 521bits
- RSA up to 3072 bits
- Others
Region:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia & NZ
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- U.A.E.
- Saudi Arabia
- South Africa
- Egypt
- Rest of Middle East & Africa
Competition Landscape:
Major competitors in the E-passport market include Gemalto, HID Global, IAI Industrial Systems, Infineon Technologies AG, Cognitec Systems, Dermalog, Access IS, Cognitec Systems, Cryptovision, Dealer Management System.
Conclusion
The global e-passport market is on an impressive growth trajectory, with a projected valuation of USD 80 billion by 2027. The surge in market demand is fueled by advancements in security technology, government regulations, and the increasing need for secure travel documentation. As the world continues to embrace digital solutions, e-passports are set to play a pivotal role in shaping the future of international travel and border security.
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