The global e-passport market reached a value of nearly USD 21.4 billion in 2019. The industry is expected to grow at a CAGR of about 23% in the forecast period of 2020-2025 to reach a value of approximately USD 74 billion by 2025.
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Europe is a leading e-passport market as the region deploys e-passports on a larger scale. The rising acceptance of e-passport in countries like the United Kingdom is expected to drive the industry in the coming years. Recently, the United Kingdom enabled visitors from countries like Australia, Japan, New Zealand, Singapore, South Korea, Canada, and the United States to use the e-passport gates for swifter entry into the country. The e-passport market in Europe is expected to be aided by the rising adoption of multimodal biometric identification. The use of multiple biometric identifiers, including fingerprints, iris, and face, to confirm authentication is called multimodal biometric identification. As a result, multimodal biometrics can provide enhanced security layers and help to overcome the error rates of normal biometrics.
Due to the technological advancements taking place in biometrics, the segment is growing at a faster rate as compared to radio frequency identification. Radio frequency identification, however, is still expected to grow at a positive rate in the coming years with the adoption of e-passport by many emerging markets. Leisure travel is one of the leading application sector for e-passport.
The e-passport market is being significantly driven by the rising urbanisation and globalisation across all the major regions. The growing urbanisation and globalisation have led to an increased number of passengers travelling by air, especially in developing countries like India, China, and Indonesia. The Asia Pacific region is likely to emerge as one of the leading s by the end of 2025. This rise in the number of passengers has significantly aided the e-passport market demand. Multiple countries are planning to introduce e-passport smart gates at airports, which can simplify the identification of the passengers and, thus, the immigration process. With e-passports expected to be introduced in countries like Bangladesh and India, the industry is expected to be further propelled forward in the Asia Pacific region.
Properties and Applications
The e-passport features an electronic chip, which includes the same information that is written on the passport data page: the name of the applicant, the date of birth, and other biographical information. The e-passport also includes a biometric identifier.
The two types of e-passport are:
The application sector can be divided into the following:
The regional e-passport markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The global e-passport market is being driven by the rising identity thefts and frauds. The rising demand for increased security is driving the demand for e-passport further. The rising cases of visa and passport frauds is another factor, which is driving the demand for e-passports. These e-passports will eventually help in reducing the transborder crimes and illegal immigration. Illegal immigration increases the threat to the security of the nation and the citizens; thus, the security at the border needs to be tightened. The e-passports will help ease the identification process and lower the fraud rates.
Long hours of waiting at the security check point has led to an increased need of e-passports. Thus, the demand for e-passports is also being aided by the need for faster and easier security checks at the airports. The demand for e-passports is also being supported by its cost-effectiveness, as they would be cheaper alternative to the printed passports and any changes can be made easily. These are also the preferred alternatives over the regular passports because they would not get old and cannot be lost or spoiled. The renewal process of these e-passports would also be much easier than the regular passports, making them a preferred alternative among the prospective consumers.
The advanced and developed infrastructure of the airports also demand a better and advance security check up system, which is expected to drive the industry growth of e-passports in the coming years. The growing air traffic is another factor driving the demand growth forward.
April 2018- Gemalto N.V. (OTCMKTS: GTOMY), one of the leading digital security company, was awarded with the contract of designing and manufacturing the United Kingdom passport by the passport office.
The report gives a detailed analysis of the following key players in the global e-passport market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global E-Passport Market Analysis
6.1 Global E-Passport Historical Market (2015-2019) & Forecast (2020-2025)
6.2 Global E-Passport Market Breakup by Type
6.2.1 Radio Frequency Identification
6.3 Global E-Passport Market Breakup by Type: Historical Market (2015-2019) & Forecast (2020-2025)
6.3.1 Radio Frequency Identification
6.4 Global E-Passport Market Breakup by Application
6.4.1 Leisure Travel
6.4.2 Business Travel
6.5 Global E-Passport Market Breakup by Application: Historical Market (2015-2019) & Forecast (2020-2025)
6.5.1 Leisure Travel
6.5.2 Business Travel
6.6 Global E-Passport Market Breakup by Region
6.6.1 North America
184.108.40.206 United States of America
220.127.116.11 United Kingdom
6.6.3 Asia Pacific
6.6.4 Latin America
6.6.5 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
6.7 Global E-Passport Market Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
6.7.1 North America
188.8.131.52 United States of America
184.108.40.206 United Kingdom
6.7.3 Asia Pacific
6.7.4 Latin America
6.7.5 Middle East & Africa
220.127.116.11 Saudi Arabia
18.104.22.168 United Arab Emirates
22.214.171.124 South Africa
6.8 SWOT Analysis
7 Porter’s Five Forces Analysis
7.2 Buyer’s Power
7.3 Supplier’s Power
7.4 New Entrants
7.5 Degree of Rivalry
8 Competitive Landscape & Supplier Analysis
8.1 Cardlogix Corporation
8.1.1 Company Overview
8.1.2 Financial Analysis
8.2 Eastcompeace Technology Co. Ltd.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.3 Entrust Datacard Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.4 Gemalto N.V. (OTCMKTS: GTOMY)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.5 Hid Global Corporation
8.5.1 Company Overview
8.5.2 Financial Analysis
8.6 Infineon Technologies Ag
8.6.1 Company Overview
8.6.2 Financial Analysis
8.7 Mühlbauer Group
8.7.1 Company Overview
8.7.2 Financial Analysis
8.8 Atlantic Zeiser,
8.8.1 Company Overview
8.8.2 Financial Analysis
8.9.1 Company Overview
8.9.2 Financial Analysis
8.10 Arjo Systems
8.10.1 Company Overview
8.10.2 Financial Analysis
8.11.1 Company Overview
8.11.2 Financial Analysis
8.12 Multos International
8.12.1 Company Overview
8.12.2 Financial Analysis
9 Events and Developments
The global e-passport market attained a value of USD 21.4 billion in 2019. It is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 23%. The e-passport market is projected to reach USD 74 billion by 2025.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its types, the e-passport market can be segmented into radio frequency identification and biometrics, with biometrics accounting for the largest market share. On the basis of application, leisure travel sector accounts for the largest share in the global industry. The major regional markets for e-passport are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Europe accounting for the largest share of the market. The key players in the above industry include Cardlogix Corporation, Eastcompeace Technology Co. Ltd., Entrust Datacard Corporation, Gemalto N.V., Hid Global Corporation, Infineon Technologies Ag, Mühlbauer Group, Atlantic Zeiser, PrimeKey, Arjo Systems, Entrust, and Multos International.
The major drivers of the industry such as rising disposable incomes, increasing population, rising cases of identity thefts and frauds, rising demand for increased security, and the developed infrastructure of the airports, are expected to aid the industry growth. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected market conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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