Passport E-Visa Market Highlights:
The global E-passport and E-visa market share is set to record a 6.30% CAGR and value at 40.10 Billion during the forecast period of 2022-2030.
Passport and e-Visa are important travel documents required for international travel. A passport is an official government document that certifies one's identity and citizenship and allows the holder to travel abroad. An e-Visa, on the other hand, is an electronic visa that allows foreign nationals to enter a country for a specific period for an approved purpose, such as tourism or business.
The requirements for obtaining a passport and an e-Visa may vary depending on the country of origin and the destination country. For example, some countries may require a certain period of validity on the passport, while some may require additional documents or photos for an e-Visa application.
It is important to note that the possession of a passport or an e-Visa does not guarantee entry into a foreign country. The final decision on whether to allow entry to a foreign national is made by the immigration officials of the destination country.
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), GieseckeDevrient limited (Germany), and others.
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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 global market for e-Passport e-Visa market is estimated to grow at a significant rate during the forecast period from 2020 to 2027. The geographical analysis of data as a service market is studied for North America, Europe, Asia Pacific, and the rest of the world. Europe is expected to dominate the e-Passport e-Visa Market during the forecast period. Germany, the UK, and France were the early adopters of biometric technology for various purposes like border control, airport security, identity security, and law enforcement.
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Industry Buzz:
July 2019, the Bangladesh government has begun the distributing electronic passports in the country for the first time ever. The electronic passport has an embedded e-microprocessor chip comprising biometric information in order to authenticate the bearer’s identity. The country has already issued a total of 26 million machine readable passports.
June 2019, Rwanda became the latest country from the East African Community (EAC) to launch and issue electronic passports. This is was done in an effort to make border clearance fast and as part of the region’s strategy to promote integration. Some of the other EAC countries that have already issued e-passports include Tanzania, Uganda, and Kenya.
June 2019, the Ministry of External Affairs of India announced its plans of working on an advanced electronic passport system that is chip-enabled. This is as part of the effort from the ministry to deliver citizen-centric services through various reforms.
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