What are the Historical Developments and Current Growth Metrics of the E Passport Market?
The e passport market has seen considerable growth due to a variety of factors.
• The scale of the e-passport market has expanded dramatically over the previous years. The market size is projected to increase from $41.56 billion in 2024 to $52.63 billion in 2025, with a compound annual growth rate (CAGR) of 26.6%.
The substantial growth in the historical period can be accredited to the surge in smartphone usage, growing worries about payment security, the propensity towards contactless payments, the widespread acceptance of biometric authentication, and the consumer's desire for effortless transactions.
What is the Forecasted Market Size and CAGR for the E Passport Market?
The e passport market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the e-passport market is anticipated to witness staggering growth, with projections indicating it will expand to $121.53 billion in 2029 with a compelling compound annual growth rate (CAGR) of 23.3%.
The anticipated growth during this period can be attributed to a variety of factors such as compatibility with wearable devices, progress in liveness detection technology, regulatory strategies for biometric payments, consumer awareness and acceptance, as well as industry-specific customization. Notable trends expected during this forecast period encompass collaborations between tech providers and financial institutions, improvements in facial recognition technology, government backing for digital payments, worldwide expansion of digital payment infrastructures, and integration with blockchain and cryptocurrencies.
What Key Factors and Trends Are Driving The Growth E Passport Market?
Anticipated growth in the e-passport market is largely driven by an increase in international travel. This includes tourism, business, and personal trips that require crossing country borders and adhering to specific entry regulations for each location. To streamline the immigration process and strengthen security measures, travelers use e-passports. These documents carry an embedded electronic chip that stores and validates biometric data. As an example, in July 2022, the International Trade Administration, a US government agency, revealed a notable increase in non-US resident and visitor arrivals by 199.7% and 160.8% respectively, while US citizen international departures saw a 63% rise. Consequently, the burgeoning demand for international travel is invigorating the e-passport industry.
E-Passport Market Driver: Proliferation of Counterfeit Passports Fuels the E-Passport Market
What Are The Market Segments In The E Passport Market?
The e-passport market covered in this report is segmented –
1) By Components: Hardware, Software, Services
2) By Security: Basic Access Control, Password Authentication Connection Establishment, Supplement Access Control
3) By Technology: Radio Frequency Identification, Biometrics
4) By Application: Business Travel, Leisure Travel
Subsegments:
1) By Hardware: E-passport Reader Devices, Embedded Microchips, Smart Cards
2) By Software: E-passport Management Software, Security And Encryption Software, Data Authentication Software
3) By Services: E-passport Issuance Services, E-passport Personalization Services, Maintenance And Support Services
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How Are Emerging Trends Reshaping The Dynamics Of The E Passport Market?
In the e-passport market, leading companies are making strides to incorporate biometrics technology for better security and prevention of identity theft and fraud. Biometrics technology employs unique identification methods based on distinct physical or behavioural traits. As an example, the Kenyan Government, in November 2022, introduced the East African Community (EAC) biometric e-passport. This marks a vital part of the holistic modernization effort of the passport system in Kenya and its fellow East African Community nations, serving as an e-passport variant with heightened security and technology features. Countries included in this initiative are Burundi, the Democratic Republic of Congo, Rwanda, South Sudan, Tanzania, and Uganda.
Who Are the Key Players In The E Passport Market?
Major companies operating in the e-passport market report are:
• 3M
• Safran SA
• Thales Group
• Infineon Technologies Ag
• NXP Semiconductors N.V.
• ASSA ABLOY AB
• Zebra Technologies Corporation
• Giesecke & Devrient GmbH
• Gemalto N.V.
• IDEMIA
• Entrust Datacard Corporation
• HID Global Corporation
• Entrust Inc.
• Iris Corporate Solutions Private Limited
• Bundesdruckerei GmbH
• Muhlbauer Group
• De La Rue PLC
• Zetes Industries SA
• Eastcompeace Technology Co. Ltd.
• 4G Identity Solutions Pvt. Ltd.
• Utimaco IS GmbH
• Veridos GmbH
• Dermalog Identification Systems
• Techno Brain Group
• Cognitec Systems GmbH
• Ask Media Group LLC
• Innovatrics
• Primekey Solutions AB
• CardLogix Corporation
• IDEX Biometrics
What Are The Regional Insights Into The E Passport Market?
North America was the largest region in the e-passport market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the e-passport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
