E-Passport Market Poised for Robust Growth, forecasted to Expand at 21.65% CAGR from 2024-30

MarkNtel Advisors has released its latest report highlighting strong growth in The Global E-Passport Market size is estimated to grow at a CAGR of around 21.65% during the forecast period, i.e., 2024-30.

Report Coverage

This report offers a comprehensive analysis of the E-Passport Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2023
• Forecast Years: 2024-30
• Historical Years: 2019-22

E-Passport Market Overview

The market has grown significantly due to substantial government initiatives aimed at streamlining border procedures and enhancing security to prevent fraud. Additionally, with the growth of globalization, international travel has surged during the past few decades. This growth in international travel has also led to a surge in individuals evading standard legal procedures through fraudulent documents.

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E-Passport Market Segmentation Outlook

The E-Passport is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Type

• Biometric e-Passports- Market Size & Forecast 2019-2030, (USD Million)
  • Face Recognition
  • Fingerprint Recognition
  • Iris Recognition
  • Others
• Non-Biometric e-Passports- Market Size & Forecast 2019-2030, (USD Million)
  • Radio-Frequency Identification (RFID)
  • Others

By Security

• Basic Access Control- Market Size & Forecast 2019-2030, (USD Million)
• Extended Access Control- Market Size & Forecast 2019-2030, (USD Million)
• Supplemental Access Control- Market Size & Forecast 2019-2030, (USD Million)
• Biometric Authentication- Market Size & Forecast 2019-2030, (USD Million)

By Component

• Electronic Chip- Market Size & Forecast 2019-2030, (USD Million)
• Antenna- Market Size & Forecast 2019-2030, (USD Million)
• Biometric Capture Devices- Market Size & Forecast 2019-2030, (USD Million)
• Others- Market Size & Forecast 2019-2030, (USD Million)

By Application

• Traveling- Market Size & Forecast 2019-2030, (USD Million)
  • Business Travel- Market Size & Forecast 2019-2030, (USD Million)
  • Leisure Travel- Market Size & Forecast 2019-2030, (USD Million)
• Border Control and Immigration- Market Size & Forecast 2019-2030, (USD Million)
• Identity Proof- Market Size & Forecast 2019-2030, (USD Million)

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

E-Passport Market Opportunity

Digitalization of Airports to Open New Doors for Market Players – Countries across the globe are substantially adopting digital technologies in airports to streamline airport operations, reducing wait times and processing delays. Automated check-ins, baggage handling, and security checks speed up necessary processes and reduce human error. Moreover, there is a surge in focus on developing advanced airport infrastructure across developing nations in the Asia-Pacific and Latin America. 

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Top E-Passport Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies CardLogix Corporation, 4G Identity Solutions, 3M, HID Global Corporation, IDEMIA, Infineon Technologies AG, Eastcompeace Technology Co., Ltd., Entrust Corporation, Muhlbauer Group, Iris Corporation, Thales Group, Safran Identity and Security, PrimeKey Solutions AB, Datacard Group, Others as key players shaping the market landscape.

E-Passport Market News

• In 2023: Infineon Technologies AG issued nearly five million next-generation electronic passports, incorporating (FSE: IFX / OTCQ: IFNNY) innovative coil-on-module (CoM CL) solution in Turkey. This cutting-edge technology, designed to meet the highest security standards, has resulted in an ultra-thin electronic data page that ensures exceptional durability and protection against forgery.

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2030?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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