E-Passport Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

E-Passport Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global E-passport market size reached US$ 25.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 56.9 Billion by 2028, exhibiting a growth rate (CAGR) of 13.4% during 2023-2028.

E-passport are chip-enabled passports comprising a biometric identification card, which increases the transparency and security of travel documents. They also include demographic information, iris scans, color photograph, and the digital signature of the bearer. They rely on contactless smart card technology, which incorporates radio frequency identification (RFID) chips or contact memory buttons, for wireless transmission of data. They are scanned through special devices that are more effective against passport fraud than conventional passports. Additionally, they help lighten the workload at passport checkpoints as e-passports can be assessed faster for enhancing immigration control.

E-Passport Market Trends:
There is currently a rise in the demand for e-passports to detect identity frauds and secure the personal information of travelers across the globe. This, along with the growing airport infrastructure, especially in developing regions, represents one of the key factors driving the market. Moreover, there is an increase in the number of people traveling to cross-border destinations. This, coupled with the rising adoption of wireless communication technology in the travel industry, is propelling the growth of the market. In addition, the introduction of e-passport smart gates at airports around the world is creating a positive outlook for the market. Besides this, the integration of advanced technologies, such as machine learning (ML) and artificial intelligence (AI), in e-passports are positively influencing the market. Apart from this, the rising awareness among individuals about the benefits of e-passports, such as less processing time and greater data storage capacity, is bolstering the growth of the market. Furthermore, key market players are extensively investing in research and development (R&D) activities to develop microprocessor-based passports, which is projected to impel the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global E-passport market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, security and application.

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 Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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) and Thales Group.

Key Questions Answered in This Report
1. What was the size of the global e-passport market in 2022?
2. What is the expected growth rate of the global e-passport market during 2023-2028?
3. What are the key factors driving the global e-passport market?
4. What has been the impact of COVID-19 on the global e-passport market?
5. What is the breakup of the global e-passport market based on the technology?
6. What is the breakup of the global e-passport market based on the application?
7. What are the key regions in the global e-passport market?
8. Who are the key players/companies in the global e-passport market?