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.
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 Stakeholders
- The 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.
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Key Market Segments
By Technology
- Radio Frequency Identification (RFID)
- Biometric
By Application
- Leisure Travel
- Business Travel
By Region
- North 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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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: E-PASSPORT MARKET, BY TECHNOLOGY
CHAPTER 5: E-PASSPORT MARKET, BY APPLICATION
CHAPTER 6: E-PASSPORT MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the e-passport market was valued at $28.8 billion in 2022, and is estimated to reach $256.2 billion by 2032, growing at a CAGR of 24.8% from 2023 to 2032.E-passport, electronic passport, or biometric passport is an international travel document with identity details such as passport number, name, surname, nationality, and date of birth, as well as an electronic microprocessor chip containing data such as fingerprints, photos, and signatures. Consequently, this process strengthens the security and transparency of travel documentation. Moreover, e-passports can help with the prevention of fraudulent activities like duplicate passport creation, and data piracy. It saves passengers from standing in long queues and waiting for long periods at the check gates also e-passport contains holographic images that will change colors when moved under lights. Furthermore, it helps in the detection of counterfeit documents.
Key factors driving the growth of the e-passport market include the rise in advanced verification means to detect identity fraud, the presence of advanced airport infrastructure, and the growth in the number of people traveling to cross-border destinations. An increase in investments by governments and private organizations to develop advanced airport infrastructure across developing nations of Asia-Pacific and LAMEA countries drives the growth of the market. In addition, various countries across the globe are deploying advanced technologies such as biometric passport technology, geographic information systems, 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 has 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.
The market also offers growth opportunities to the key players in the market. Several airport companies have been using advance technologies such as augmented reality, artificial intelligence, and beacons technology to streamline their business process and to improve their revenue. For instance, in November 2022, IDEMIA launched all-new flagship travel document to showcase its most innovative security features and capacity to offer unique yet secure designs allowing customers to better understand the extent of IDEMIA’s expertise and know-how in the conception, design, and production of innovative passports. Most airports across the UK, Germany, and France have been using blockchain technologies to improve operational efficiencies, security systems, and customer experiences, which provides lucrative opportunities for the market. For instance, Air France, one of the leading airline service providers across France has been using blockchain technology to securely store personal information of travelers such as name, date of birth, age, and address. In addition, biometrics technology is being used at airports to streamline the check-in process of customers and to provide a more seamless airport international travelling services, which provides ample opportunities for the e-passport market.
The 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 (the U. S., Canada), Europe (the UK, Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players profiled in the study 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. The players in the market have been actively engaged in the adoption various strategies such as acquisition, and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in May 2020, Thales Group, one of the leading electrical systems providers for defense, aerospace, and transportation industries launched DGM Consortium in Thailand. It is a new Thai e-passport that includes enhanced security features such as embossed signature and embedded biometric data.
Key Market Insights
By technology, the Radio Frequency Identification (RFID) segment was the highest revenue contributor to the market, and is estimated to reach $179.24 billion by 2032, with a CAGR of 23.7%. However, the biometric segment is estimated to be the fastest-growing segment with a CAGR of 27.8% during the forecast period.By application, the leisure travel segment dominated the global market and is estimated to reach $160.41 billion by 2032, with a CAGR of 23.5%. However, the business travel segment is expected to be the fastest-growing segment with a CAGR 27.3% during the e-passport market forecast.
Based on region, North America was the highest revenue contributor, accounting for $10.34 billion in 2022, and is estimated to reach $77.09 billion by 2032, with a CAGR of 22.6%.
Companies Mentioned
- Eastcompeace Technology Co., Ltd.
- Thales Group
- 3M
- Infineon Technologies AG
- Muhlbauer Group
- 4G Identity Solutions
- Entrust Corporation
- HID Global Corporation
- SAFRAN
- CARDLOGIX CORPORATION
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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