Market Overview –
Over the forecast period, the global e-passport market is expected to grow at a high CAGR and reach an enormous market size in 2027. Changing market trends are likely to boost both industry and market growth throughout the projection period, according to industry study, which is driving the increased need for e-passports in applications like business travel and leisure travel.
If you’re travelling internationally and need to prove your identity, an e-passport can help you do so. It is possible to reduce the time, resources, and expenses associated with airport and border security procedures by using electronic passports. Electronic passports store personal information on a chip, enhancing security and reducing the likelihood of identity theft and duplications. This is due to the fact that the chips are secured by the user’s digital signature and a unique identifying number (UIN).
There is a chip within an electronic passport (also known as a “e-passport”) that includes the same personal information as that on the passport’s data page, such as the bearer’s name and country of citizenship. In addition to the electronic digital signature, they now use contactless smart card technology with RFID chips or contact memory buttons instead of barcodes seen on classic machine-readable travel documents, such as those having the only MRZ. Near Field Communication (NFC) technology can be used to read these types of passports without having to expose them to public view in smartphones or similar devices.
Market Dynamics –
Electronic passports are becoming increasingly popular due to a variety of variables, including an increase in international travel, improved airport infrastructure, and an increase in the number of people travelling across borders. Additional potential prospects for electronic passport market participants will be provided by an increase in wireless communication technology development activities.
Market Scope –
Global Electronic Passport Market Analysis to 2028″ is an in-depth research of the technology, media and telecommunications business with an emphasis on the global market trend analysis of the electronic passport industry. According to this study’s findings, the electronic passport industry may be broken down into three distinct types: travel document and identity card.
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During the projected period, the worldwide electronic passport market is expected to rise at a significant rate. The research contains information on the major electronic passport market competitors, as well as key trends and opportunities in the industry.
Impacts of the COVID-19 –
Over the past 18 months, nearly every industry has been adversely affected. In the wake of several precautionary lockdowns and other limitations imposed by regulatory agencies around the world, these companies encountered major interruptions in their manufacturing and supply-chain operations. The global E-Passport market is the same.
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The general economic condition of most people has been adversely affected by this outbreak, and as a result, consumer demand has decreased as well. People are now more eager to cut non-essential spending from their budgets. Over the next several years, the worldwide E-Passports market is likely to be burdened by the aforementioned factors. E-Passports are projected to rebound as governments ease the restrictions that have been placed on the market.
Report Highlights –
Detailed overview of the e-passport market
Changing dynamics of the e-passport market
Segmentation of the e-passport market
Regional landscape of the e-passport market
Evaluation of the e-passport market on the basis of the present and past data collected
Historical, present, and projected e-passport market in terms of volume and value
Recent trends and developments in the e-passport market
Competitive landscape of the e-passport market
Strategies adopted by key players and products offered by them in the e-passport market
Key Players Operating in Global E-passport Market –
De La Rue plc
Eastcompeace Technology Co., Ltd
Atlantic Zeiser GmbH
Entrust Datacard Corporation
Infineon Technologies AG
By Type –
Service & Diplomatic E-Passport
By Applications –
By Regions –
Rest of Europe