E-Passport Market is Expected to Reach ~US$ 97,617 million by 2027

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Market Research Report
EXCLUSIVE EDITION
Global E-Passport Market Report Opportunities,
and Forecast By 2030
Global Industry Analysis, Forecast and Trends,
2022-2030
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E-Passport Market
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E-Passport Market 2021 Industry Size, Regions,
Emerging Trends, Growth Insights, Development
Scenario, Opportunities, and Forecast By 2027
E-Passport Market by Technology (RFID and
Biometric), by Application (Leisure Travel and
Business Travel) by Region Global Share and
Forecast to 2027 Description The global
e-passport market size is expected to grow from
USD 20,917 million in 2020 to USD 97,617 million
by 2027, at a CAGR of 27.5 from 2021 to 2027. An
E-passport is an electronic passport containing
travelers' identity details such as name,
passport number, surname, date of birth, and
nationality. In addition, an e-passport is
created with an electronic microprocessor chip,
which contains several biometric information of
an applicant, such as photos, fingerprints, and
signatures. E-passport offers numerous benefits
to end- users, including preventing misuses of
passports, digitally storing personal details of
travelers, and improving security. In addition,
securing accurate identification of passport
holders and protecting against identity theft
are essential benefits offered by e-passports. An
increase in the number of people traveling to
cross-border destinations propels the growth of
the global e- passport market. In addition, the
rise in advanced verification technology to
detect identity frauds and the presence of
advanced airport infrastructure among developing
nations also boost the global e-passport market.
However, the availability of cost-effective
e-passport and high implementation costs restrict
the growth of the market. On the contrary, the
increase in the adoption of wireless
communication technology among the travel
industry is expected to offer remunerative
opportunities to expand the global market during
the forecast period.
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Request Sample Copy of this Report
https//www.marketstatsville.com/request-sample/e-
passport- market An increase in investments by
governments and private organizations to develop
advanced airport infrastructure across
developing nations of Asia-Pacific and Middle
East Africa countries drives the market's
growth. In addition, various countries across
the globe are deploying advanced technologies
such as biometric passport technology,
geographic information system, and facial
recognition technology to identify frauds and
threats at airports. Furthermore, several airport
development companies have been using digital
technologies to improve operational performance
and efficiency at airports. For instance, TAV
Technologies, one of the leading management
technology providers to airline industries, have
been using IoT technology to collect biometric
data of all passengers from simple sensor
devices, smartphones, and wearable connected
devices. Thus, such developments across
developing as well as developed nations drive
the growth of the market. COVID-19 Impact on the
Global E-Passport The e-passport market has
witnessed significant growth in the past few
years however, owing to the outbreak of the
COVID-19 pandemic, the market witnessed a sudden
decrease in 2020. This is attributed to the
implementation of lockdowns by governments in
most countries and the rise in restrictions on
international traveling. Moreover, the increase
in need among traveling industries to detect
traveler information immediately, increase in
awareness among people to securely store
personal information, and rise in use of
smartphones among people are some of the
essential factors that boost adoption of the
e-passport market during the COVID-19 outbreak.
As per the AMR analysis, the e-passport market
is anticipated to profit by the third quarter of
2022. In addition, while estimating the market
size, AMR has considered the impact of COVID-19
across the globe, and the estimated numbers are
entirely dependent on the current ongoing
situation of COVID-19 in each country. However,
there is still no clarity on the deeper impact
that it is having across various businesses,
industrial sectors, and organizations, owing to
factors such as the continuous increase in the
number of COVID-19 cases with different rates
and changes in the lockdown period.
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Global E-Passport Market Dynamics Drivers Rise
in advanced verification means to detect identity
frauds Companies manufacturing e-passport have
added a range of additional electronic and visual
security features to fight identity fraud and
increase the security of travelers' personal
information, which enhances the market's growth.
In addition, the increase in the introduction of
microprocessor-based passports and rapid adoption
of advanced microprocessor-based passport
services across developed nations to increase
travelers' convenience drives the market's
growth. Furthermore, the integration of advanced
technology such as machine learning and
artificial intelligence in e-passport has
improved the speed of detecting fraudulent cases
in travelers' documents, which drives the global
e-passport market. Restraints High
implementation cost Innovative e-passport
technology is manufactured with highly
configurable data management tools, facilitating
validation, recording, updating, retrieval,
certifying, and issuing documents to citizens.
This is attributed to an increase in the
implementation cost of e-passport technology. In
addition, the limited number of e-passport
provider companies across Asia-Pacific and the
high price of electronic chips and biometric
sensors across the region hamper the growth of
the market in this region. Furthermore, several
e-passport providers have been manufacturing
e-passport technology with advanced magnetic tape
cards, which increases the overall cost of e-
passports, which, in turn, hampers the market's
growth.
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• Opportunities Increase in development of
  wireless communication technology
• An increase in the integration of wireless
  technologies such as smart cards in e-passport,
  which offers airline industries numerous
  benefits such as improved security of biometric
  information such as palm scan, iris scan,
  fingerprints, and digital signature, is expected
  to enhance the growth of the market in the
  future. In addition, radio-frequency
  identification (RFID) reader and radio-
  frequency identification (RFID) tag use in
  e-passport technology to automatically track and
  identify traveler information such as name, date
  of birth, age, and address provides lucrative
  opportunities for the market growth. Furthermore,
  the radio frequency signal is integrated into
  e-passport technology to securely transfer travel
  information to airline companies, which propels
  the development of the e-passport market.
• Scope of the Report
• The study categorizes the e-passport market based
  on technology, application, and regions.
• Direct Purchase Report https//www.marketstatsvil
  le.com/buy-now/e-passport-market?opt2950 By
  Technology Outlook (Sales/Revenue, USD Million,
  2017-2027)
• RFID
• Biometric
• By Application Outlook (Sales/Revenue, USD
  Million, 2017-2027)
• Leisure Travel
• Business Travel

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• By Region Outlook (Sales/Revenue, USD Million,
  2017-2027)
• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru,
  Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain,
  Poland, Russia, Slovenia, Slovakia, Hungary,
  Czech Republic, Belgium, the Netherlands,
  Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea,
  Indonesia, Malaysia, Thailand, Vietnam, Myanmar,
  Cambodia, the Philippines, Singapore, Australia
  New Zealand, Rest of Asia Pacific)
• The Middle East Africa (Saudi Arabia, UAE,
  South Africa, Northern Africa, Rest of MEA)
• By technology, the RFID segment is projected to
  account for the largest market share
• Access full Report Description, TOC, Table of
  Figure, Chart,
• etc https//www.marketstatsville.com/table-of-con
  tent/e-passport-market

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On the basis of technology, the E-passport market
is divided into RFID and biometric. The RFID
segment was accounted for the highest contributor
to the market, with a market share of 75.9 in
2020. Radiofrequency identification is
electromagnetic equipment that automatically
identifies entities, collects information, and
enters it directly into computer systems without
human involvement. E-passport integrates
electronic RFID chips into paper documents, which
contain information that can be used to verify
passenger identities. An increase in the
integration of RFID technology in e-passport to
strengthen border security by decreasing the
possibility of fake passports and creating new
passports without losing travelers' personal
information is considered an essential factor in
boosting the e-passport market segment. Asia
Pacific accounts for the highest CAGR during the
forecast period On the basis of region, the
market is analyzed across North America,
Asia-Pacific, Europe, South America, and the
Middle East Africa. Asia Pacific is estimated
to hold the highest CAGR of 29.5 in the global
e-passport market during the forecast period.
Countries considered under the scope of this
region include China, Japan, Australia, South
Korea, India, and the Rest of Asia-Pacific. An
increase in the number of international
travelers, a rise in the use of digital
technology during traveling, and an increase in
support to use biometric passports by governments
across China, Japan, and India are major factors
that boost the growth of the e-passport market in
this region. Request For Report Description
https//www.marketstatsville.com/e-passport-market
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