E-Passport E-Visa Market Highlights:

The global e-Passport e-Visa market was analyzed by Market Research Future (MRFR) and it was projected that a noteworthy 6.30% CAGR will be attained by the market over the forecast period of 2022 to 2030.

E-passports and e-visas function with the help of contactless smart chip technology and are integrated with computer chip alongside an embedded antenna. The technology is being increasingly used by passengers, irrespective of them traveling for leisure or business purpose.

The global E-Passport E-Visa Market is expected to garner noticeable growth in the coming years.

According to the research analysis that has been conducted by the industry experts, the global E-passport and E-visa market is set to record a 6.30% CAGR during the ongoing forecast period of 2017-2023. This business domain is likely to account for USD 40.10 Billion by the end of the current period in 2023. The global market is likely to be rising from a global market figure worth USD 9202.8 million during the historic forecast period that had ended in 2019.

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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.

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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 E-Passport and E-Visa Market Recent updates

An e-passport is a biometric passport that contains a chip embedded in the passport document. The chip stores the same information that is printed on the passport's data page: the holder's name, date of birth, and other biographic data. An e-visa is an electronic visa that is issued by a government or international organization. The e-visa allows travelers to enter a country without having to apply for a traditional visa. The e-visa is typically issued by governments for a limited period of time, such as for tourism or business travel. The global e-passport and e-visa market is expected to witness substantial growth during the forecast period. This is attributed to the increasing demand for biometric passports and e-visas, owing to the growing security concerns around the world. Moreover, the increasing adoption of electronic passports and e-visas, in order to facilitate easy travel, is expected to drive the market growth. Furthermore, the growing use of mobile applications to apply for e-visas and e-passports is expected to further fuel the market growth. However, the high cost associated with the production of e-passports and e-visas is expected to restrain the market growth.

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