E-Passport Market Report 2023-2028, Size, Share, Industry Analysis, Trends and Forecast

Sep26,2023 #E-Passport Market

IMARC Group, a leading market research company, has recently releases report titled “E-Passport Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global E-passport market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the E-passport market?

Report Attributes Details
Market Size in 2022 US$ 25.8 Billion
Market Forecast in 2028 US$ 56.9 Billion
Growth rate (2023 to 2028) CAGR of 13.4%
Base Year of the Analysis 2022
Forecast Period 2023-2028

What is E-passport?

The electronic passport (e-passport), also known as a biometric passport, is a chip-enabled passport with a biometric identification card strengthening the transparency and security of travel documents. It also involves demographic information, iris scans, color photograph, and the digital signature of the holder. It relies on contactless smart card technology consisting of a computer chip or microprocessor chip, such as radio-frequency identification (RFID) chips, which are inserted in the front and back cover of the passport. It offers less processing time and greater data storage capacity. It is scanned through special devices that are more effective against passport fraud as compared to conventionally used passports. 

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What are the growth prospects and trends in the E-passport industry?

Considerable growth in the travel and tourism sector and increasing traveling activities represent one of the major factors positively influencing the demand for e-passports around the world. In addition, the rising number of cross-border activities is driving the need for e-passports to detect fraud and secure the personal information of travelers, which is contributing to the market growth. Furthermore, the growing awareness among individuals about the benefits of using e-passports is driving the market. Apart from this, there is an increase in the integration of machine learning (ML) and artificial intelligence (AI) in e-passports to enhance security at airport terminals, which is offering lucrative growth opportunities to key players in the industry.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Technology:

  • Radio Frequency Identification (RFID)
  • Biometric

Breakup by Security:

  • Basic Access Control
  • Password Authenticated Connection Establishment
  • Supplemental Access Control
  • Extended Access Control

Breakup by Application:

  • Leisure Travel
  • Business Travel 

Breakup by Geography:

  • North America (U.S. & Canada)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East & Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • 4G Identity Solutions Private Limited (Goldstone Technologies Ltd.)
  • CardLogix Corporation
  • Entrust Corporation
  • HID Global Corporation (Assa Abloy AB)
  • IDEMIA
  • Infineon Technologies AG
  • Mühlbauer Group
  • Primekey Solutions AB (Keyfactor) 
  • Thales Group.

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