E-passport Market By Technology (Radio Frequency Identification (RFID), Biometric), By Application (Leisure Travel, Business Travel): Global Opportunity Analysis and Industry Forecast, 2023-2032
E-passport is an electronic passport that contains identity details of travelers such as name, passport number, surname, date of birth, and nationality. In addition, e-passport is created with an electronic microprocessor chip, which contains several biometric information of an applicant such as photos, signatures, and fingerprints. E-passport offers numerous benefits to end-users that includes preventing misuses of passports, storing personal details of travelers digitally, and improving security. In addition, securing accurate identification of passport holders and protection against identity theft are some of the important benefits, which are offered by e-passports.
Increase in number of people traveling to cross-border destinations propels the growth of the global e-passport market. In addition, rise in advanced verification technology to detect identity frauds and presence of advanced airport infrastructure among developing nations also boost the e-passport market across the globe. However, availability of cost-effective e-passport and high implementation cost restrict growth of the market. Also, increase in adoption of wireless communication technology among the travel industry is expected to offer remunerative opportunities for expansion of the global market during the forecast period.
The global e-passport market is segmented into technology, application, and region. In terms of technology, the market is fragmented into radio frequency identification (RFID) and biometric. Depending on application, it is divided into leisure travel and business travel. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global e-passport market industry include 3M, 4G Identity Solutions, LLC, CardLogix Corporation, Eastcompeace Technology Co., Ltd., Entrust Corporation, HID Global Corporation, Infineon Technologies AG, Muhlbauer Group, Safran, and Thales Group. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the e-passport market industry.
Key Benefits For StakeholdersThe study provides an in-depth analysis of the global E-passport market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on global E-passport market trend is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2022 to 2032 is provided to determine the market potential.
Key Market SegmentsBy TechnologyRadio Frequency Identification (RFID)
Biometric
By ApplicationLeisure Travel
Business Travel
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Eastcompeace Technology Co., Ltd.
Thales Group
3M
Infineon Technologies AG
Muhlbauer Group
4G Identity Solutions
Entrust Corporation
HID Global Corporation
SAFRAN
CARDLOGIX CORPORATION
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