Global E-Passports Market Forecast, Future Scope, Growth Rate, Historical Data

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Description

The global ePassport market is anticipated to grow from a projected valuation of US$ 34.3 Bn in 2021 to US$ 144.4 Bn by 2028, expanding at a CAGR of 22.9%. Nearly 20% of the worldwide passport market was accounted for by the demand for electronic passports.

The term “ePassport” is used to describe passports that have electronic components or contactless Integrated Circuits (ICs), like RFID chips. ePassports are also known as biometric passports, MRTD (Machine Readable Travel Documents) with ICC Chip, because the RFID chip carries biometric data.

ePassports now include biometric data, such as fingerprint recognition, in addition to RFID chips. Iris authentication technology and face recognition capabilities are also included in the current generation of ePassports. The ePassport has a focus on providing a range of applications, including travel for business and pleasure.

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Demand for ePassport from 2013 to 2021 compared to market projections for 2022 to 2028

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The ePassport provides a number of advantages, including the ability to securely identify the traveller, security against identity theft, privacy protection, and others. During the anticipated time, these advantages promote market expansion. There has also been a rising demand for quick and effective security inspections at passports as passenger traffic has increased. As a result, there has been a noticeable increase in demand for ePassports.

Why Do Government Smart Airport and Border Initiatives Have a Positive Impact on the Market?
There is a higher need for sophisticated security, data encryption, and data protection due to the rise in terrorist attacks, criminal operations, and smuggling on a global scale. Biometric-based smart airport efforts have not only made the process faster and less stressful, but also more secure.

How has the COVID-19 Crisis Affected ePassport Sales?

Many businesses have been affected by the COVID-19 pandemic epidemic, including the ePassport market. Incorporating RFID technology is a crucial instrument for combating modern challenges and fostering growth and innovation at the right time.

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Competitive Environment Producers have concentrated on creating and implementing highly encrypted ePassports. Most ePassports were first issued with Basic Access Control (BAC) and Extended Access Control (EAC). SAC and PACE are being used to incorporate the latest generation of passports.

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ePassport Market Survey by Category

By Technology

  • RFID
  • Biometrics

By Application

  • Business Travel
  • Leisure Travel

By Security

  • Basic Access Control
  • Password Authenticated Connection Establishment
  • Supplemental access Control
  • Extended Access Control

Region:

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

Description The global ePassport market is anticipated to grow from a projected valuation of US$ 34.3 Bn in 2021 to US$ 144.4 Bn by 2028, expanding at a CAGR of 22.9%. Nearly 20% of the worldwide passport market was accounted for by the demand for electronic passports. The term “ePassport” is used to describe passports…

Description The global ePassport market is anticipated to grow from a projected valuation of US$ 34.3 Bn in 2021 to US$ 144.4 Bn by 2028, expanding at a CAGR of 22.9%. Nearly 20% of the worldwide passport market was accounted for by the demand for electronic passports. The term “ePassport” is used to describe passports…

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