Market Overview
The research conducted by Market Research Future (MRFR) focuses on the growth scope of the market for E-Passport and E-Visa 2020 on the basis of the exhaustive analysis of the latest trends. MRFR anticipates modest gains for the market and expects it to progress at a decent rate during the forecast timeframe (2017 to 2023).
Growth Boosters and Main Restraints
Following a series of terrorist attacks in the past few decades, ePassport and eVisa are being viewed as a foundation for global security. ePassports and eVisas have become mainstream and have also given rise to a sustainable multi-billion-dollar market that is expected to fundamentally transform the worldwide border and travel control infrastructure. They also promptly deliver on the promise of creating a consistent, secure, and highly reliable identification infrastructure.
The marketplaces for E-passport and E-visa involve the credentialing, verification and enrollment processes along with solutions integration as well as related physical and logical technology that deploy and leverage biometric technology. The requirements as well as processes vary from country to country, as they employ a varying levels of automation. The intense efforts and increasing investments for building smart borders as well as smart airports to facilitate fast and secure travel have pushed the demand for ePassports and eVisas, benefitting the market.
Increasing number of identity frauds, surge in advanced airport infrastructure, growth in air traffic and supportive regulatory structure bolster the market growth to a large extent. The ability of e-passport to facilitate quicker security checks as well as verification of passengers at airports and international borders along with the rising adoption by various countries to elevate safety of citizens and lower the chances of visa fraud can significantly boost the demand for E-passport market.
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Market Segmentation
The market segmentation for ePassport and eVisa includes type, application and hardware components.
The types identified in the report are Biometrics as well as RFID. The biometrics segment can be dissected into fingerprint recognition, iris recognition and facial recognition.
The application-wise market segments are Travelling (Business travel, foreign affairs and Leisure Travel), immigration/border control and identification/proof.
The hardware components covered are antenna, processor/chip, others.
Regional Analysis
The market for e-Passport & e-Visa is advancing at a tremendous pace and can note varying levels of growth in the primary regions of Asia Pacific (APAC), Europe, North America, and the rest of the world (RoW).
Europe can be the dominant market for e-Passport & e-Visa in the approaching years, since countries like the UK, France and Germany are known for their willingness to fast adopt latest technologies, such as biometric for purposes like airport security, border control, law enforcement and identity security. In addition, the surge in the number of biometric visa programs, the scope of travelers to the regions is expected to increase in the following years.
APAC, with its extensive population and rapid economic growth, is expected to perform significantly over the next few years. The governments of India and Bangladesh are in the process of introducing e-passport and e-visa services in more location in order to curb the hassles that arise from document processing at airports. The growing implementation of border control technology can also back the region’s security measures at departure terminals, driving the demand for E-passport and E-visa Market Analysis.
Leading Contenders
The leading contenders in the e passport and e visa market are Datacard group (U.S), Iris Corporation (Malaysia), Cardlogic limited (Ireland), Muehlbauer group (Malaysia), 4G identity solutions private limited (U.A.E), Eastcompeace (China), Oberthur Technologies (France), Safran identity and security (France), HID Global Corporation (U.S), Gemalto NV (the Netherlands), Giesecke&Devrient limited (Germany), and others.
Other vendors that are also responsible for the market growth are Morpho B.V- Idemia (France) Cardlogix Corporation (U.S), Infineon Technologies (Germany), to name a few.
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E-passport and E-visa Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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