E-Passport Market by Component and Geography - Forecast and Analysis 2021-2025

“The E-Passport Market is poised to grow by USD 12.09 billion during 2022-2026, accelerating at a CAGR of 11.66% during the forecast period”

Technavio market report provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 15 vendors. Furthermore, this report extensively covers e-passport market segmentations by component (software, hardware, and services) and geography (Europe, APAC, North America, South America, and MEA). The market report also offers information on several market vendors, including ASSA ABLOY AB, CardLogix Corp., De La Rue Plc, Entrust Datacard Corp., Giesecke + Devrient GmbH, IDEMIA France SAS, Infineon Technologies AG, Mühlbauer GmbH & Co. KG, NXP Semiconductors NV, and Thales Group among others.

What will the E-Passport Market Size be During the Forecast Period?

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Parent Market Analysis

Our Technavio Research categorizes the report belonging to Data Processing & Outsourced Services Industry for the market. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions.

E-Passport Market: Key Drivers, Trends, and Challenges

Technavio Research categorizes the global E-Passport Market belonging to the IT Services Industry .Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

The market is extremely competitive with all sizes of businesses, including large, medium, and small-sized companies vying to monopolize the market. The tremendous development in various fields such as product innovations and new product launches by manufacturers operating in the market will drive the growth further.

Key E-Passport Market Driver

• The increasing number of air passengers is notably driving the e-passport market growth. 
• The market is expected to be driven by the rise in the use of advanced verification methods and Bluetooth-connected devices to detect identity frauds, the presence of advanced airport infrastructure and facilities, the growth in the number of people traveling to cross-border destinations, and the increasing adoption of E-passport by developing nations.
• The number of international air passengers is growing significantly with the surge in globalization.
• For instance, in March 2018, Hamad International Airport (HIA) announced that it had witnessed more than 120 million international passengers since its inception in 2014. he London Gatwick Airport has invested 45 million in its South Terminal security area for the use of smarter scanning technology to reduce passengers waiting time, which is driving the market.

Key E-Passport Market Trend

• The regulations by ICAO is the key market trend driving the e-passport market growth. The ICAO, which is a specialized agency by the United Nations (UN), lays down international civil aviation standards and Recommended Practices (SARPs) and policies to ensure an efficient, safe, secure, environmentally responsible, and economically stable civil aviation sector.
• A total of 193 member countries abide by the policies of the ICAO in their domestic civil aviation operations and regulations to be in line with the global practices. 
• Governments are ensuring that the ICAO standards are met in their civil aviation operations to stay in line with the global aviation practices. These standards will be updated periodically as more countries are expected to join the ICAO in the near future. Thus, the regulations by the ICAO are expected to drive the growth of the global E-passport market during the forecast period.

Key E-Passport Market Challenge

• The major challenge impeding the e-passport market growth is the concern regarding brute force attacks. 
• The communication between the E-passport and the reading device can be encrypted using the session key. 
• A hacker can use different combinations of parameters such as passport number, expiration date, and date of birth to guess the session key. Also, a hacker can get information regarding the passport number, expiration date, and date of birth easily by hacking other platforms such as international hotel databases. 
• With the widespread adoption of E-passports, the threat of brute force attacks will continue to remain one of the major concerns for governments across the world. 

Who are the Major E-Passport Market Vendors?

The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading market vendors such as

• ASSA ABLOY AB
• CardLogix Corp.
• De La Rue Plc
• Entrust Datacard Corp.
• Giesecke + Devrient GmbH
• IDEMIA France SAS
• Infineon Technologies AG
• Mühlbauer GmbH & Co. KG
• NXP Semiconductors NV
• Thales Group

Market Overview

The parent global data processing and outsourced services market covers companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services. The global data processing and outsourced services market covers providers of commercial electronic data processing and/or business process outsourcing services. It also includes companies that provide services for back-office automation.

E-Passport Market Value Chain Analysis

In this report, we provide extensive information on the value chain analysis for the market. Our data covers all key stages of a cash logistics flow and provides a complete understanding of all aspects of a cash logistics value chain. This includes an end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies.

Which are the Key Regions for E-Passport Market?

36% of the market’s growth will originate from APAC during the forecast period. China is the key market for the e-passport market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The E-passport market in APAC is expected to witness significant growth during the forecast period, mainly due to the increasing number of air passengers in the region. For instance, Singapore Airlines Ltd. s subsidiary, SilkAir, witnessed a strong increase in the number of passengers in 2019. SilkAir carried about 5 million passengers in 2019, which is a 15% increase over that in 2018. Another subsidiary of Singapore Airlines, Scoot, carried about 5,000 passengers, which represents an annual growth rate of 12% in 2019. Therefore, governments across APAC are actively working on enhancing their passport services owing to the increased demand for international air travel and the mounting concerns over border controls. 

COVID Impact and Recovery Analysis

In 2020, the spread of COVID-19 in countries across APAC had a severe impact on the tourism, transport, and aviation industries. The region witnessed a large number of cancelations of packaged tours that were booked prior to the outbreak of the pandemic. The prolonged lockdown declared across countries such as China, India, and Japan resulted in the cancelation of international flights as well as the flights within these countries, thereby adversely impacting the growth of the E-passport market in APAC in 2020. The market is expected to recover slowly during the forecast period.

What are the Revenue-generating Component Segments in the E-Passport Market?

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The e-passport market share growth by the software segment will be significant during the forecast period. The software segment of the global E-passport market includes applications for data capture and authentication. The market is likely to witness significant growth during the forecast period due to the rising cross-border immigration issues and security concerns. E-passports consist of the biometric information of the passport holder. Therefore, there have been rising concerns about data security. The software segment of the global E-passport market is expected to witness significant growth during the forecast period due to the increasing security threats on personal data security. In the event of a biometric data breach, it can result in serious challenges as the biometric identifiers of a person cannot be replaced with new identifiers like in the case of passwords.

The report provides a near-term to long-term perspective on the trends and forecasts horizon for the anti-venom market. It offers an overview of the key market drivers and restraints, enabling precise identification of key opportunities in each region over the coming years.

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What are the Key Data Covered in this E-Passport Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive the growth during the next five years
• Precise estimation of the size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the the industry across Europe, APAC, North America, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of e-passport market vendors

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