E-Passport Market size is set to grow by USD 15,341.67 million from 2022-2027; Increasing security concerns boost the market growth- Technavio

NEW YORK, June 1, 2023 /PRNewswire/ — The e-passport market size is estimated to grow at a CAGR of 11.85% between 2022 and 2027. The market size is forecast to increase by USD 15,341.67 million with Europe being the largest contributor to the e-passport market. The European e-passport market is growing rapidly as governments adopt new technologies to enhance security and streamline border control processes. The European Union has set a goal for all member states to issue biometric passports with chips containing personal data and digital photos.

Many European countries such as Germany, France, and the UK have introduced electronic passport programs to strengthen border security and streamline immigration. This has created a huge demand for electronic passports and related technologies such as biometric identification systems and passport readers. In addition to government initiatives, e-passports are also in high demand among European travelers. The convenience and security that e-passports offer, including faster processing times and reduced risk of identity fraud, are becoming increasingly attractive to travelers in the region. Additionally, the growing trend towards contactless and digital solutions in the travel industry could create further growth opportunities for the European e-passport market. As a result, the European e-passport market is expected to continue growing, creating growth opportunities for both government and private players during the forecast period. 

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Global E-Passport Market – Segmentation Assessment

Segment Overview

Technavio has segmented the market based on application (leisure travel and business travel), component (software, hardware, and services), and geography (Europe, APAC, North America, South America, and Middle East and Africa). 

• The global e-passport market has experienced significant growth in recent years due to the increasing demand for safe and efficient travel documents. One of the main uses of electronic passports is leisure travel. As the middle class grows and disposable income increases, people are increasingly traveling for leisure. Electronic passports offer travelers a convenient and secure way to cross borders, eliminating the need for physical visas and reducing wait times at airports. The use of e-passports also helps prevent fraud and identity theft and increases traveler safety. The importance of contactless and touchless solutions and electronic passports offers a contactless alternative to traditional passport stamps and physical documents. This has further accelerated the demand for electronic passports. Governments and tourism boards are also investing in digital infrastructure to facilitate the use of e-passports, creating market growth opportunities. Therefore, the leisure travel segment is expected to drive the growth of the global e-passport market during the forecast period.

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Global E-Passport Market – Market Dynamics

Key factors driving market growth

Increasing security concerns is boosting the market. Electronic passports offer a high level of security and feature advanced features such as biometrics, digital signatures and encryption, making them much more difficult to counterfeit or tamper with. For this reason, e-passports have become the preferred choice for governments around the world as they provide a safer and more reliable way to verify a traveler’s identity. Electronic passports make border control procedures more efficient and streamlined, reduce waiting times and improve the overall travel experience for passengers. It also enables seamless integration with other government systems and databases, such as immigration and law enforcement, providing real-time access to critical information to help prevent security breaches and facilitate border controls. With the rise of international terrorism and organized crime, governments and international organizations are looking for new ways to strengthen security measures and prevent fraudulent activities that fuel growing security concerns. The demand for e-passports in the global e-passport market is expected to increase during the forecast period as many countries continue to invest in advanced security technologies and improve their border control systems. 

Leading trends influencing the market 

Increased adoption of e-passports is a key market trend. The global e-passport market has seen a steady increase in acceptance of e-passports over the past decade. This is primarily due to the need for increased security measures in the travel industry to combat issues such as identity theft, terrorism and fraud. Electronic passports provide biometrics and encryption technology that enhances the protection of biometrics and personal information, making it difficult for fraudsters to create counterfeit passports. Governments around the world are also encouraged to adopt e-passports, as they allow citizens to move easily and safely across borders, facilitating trade and tourism. Another factor driving the adoption of e-passports is the increasing digitization and automation in various sectors, including the travel industry. The COVID-19 pandemic has further accelerated this trend, increasing the need for contactless and efficient systems. Electronic passports offer a convenient and safe solution that allows faster and smoother processing at immigration, reducing queues and waiting times. The growing popularity of e-commerce and online transactions has also contributed to the adoption of electronic passports as people become more familiar with digital identities and transactions. Therefore, the global e-passport market is expected to continue growing during the forecast period, driven by the need for increased security and increased efficiency in the travel industry. 

Major challenges hindering the market growth

High initial investment costs is a major concern hindering the growth. The global E-passport market faces the challenge of high initial investment costs, which can be a significant barrier to adoption. The development and deployment of E-passports require substantial investments in technology, infrastructure, and personnel training. Governments and organizations must make significant upfront investments to design, test, and deploy the necessary systems and infrastructure to support E-passports. Furthermore, the cost of implementing E-passport systems can vary greatly depending on the level of security and functionality required. This includes the cost of incorporating biometric data, implementing encryption and authentication protocols, and upgrading border control systems. As a result, smaller and less affluent countries may struggle to invest in E-passports, limiting their ability to participate in the global E-passport market. Hence, the high investment cost will be a challenge for the growth of the global E-passport market during the forecast period.

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What are the key data covered in this E-Passport Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the E-Passport Market between 2023 and 2027
• Precise estimation of the size of the E-Passport Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the E-Passport Market industry across Europe, APAC, North America, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of E-Passport Market vendors

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Table of content

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global e-passport market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on global e-passport market 2017 – 2021 ($ million)

• 4.2 Application Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 – 2021 ($ million)

• 4.3 Component Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – Component Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application – Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Leisure travel – Market size and forecast 2022-2027
• Exhibit 34: Chart on Leisure travel – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Leisure travel – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Leisure travel – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Leisure travel – Year-over-year growth 2022-2027 (%)

• 6.4 Business travel – Market size and forecast 2022-2027
• Exhibit 38: Chart on Business travel – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Business travel – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Business travel – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Business travel – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ million)
• Exhibit 43: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Component

• 7.1 Market segments 
• Exhibit 44: Chart on Component – Market share 2022-2027 (%)
• Exhibit 45: Data Table on Component – Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 46: Chart on Comparison by Component
• Exhibit 47: Data Table on Comparison by Component

• 7.3 Software – Market size and forecast 2022-2027
• Exhibit 48: Chart on Software – Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Software – Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Software – Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Software – Year-over-year growth 2022-2027 (%)

• 7.4 Hardware – Market size and forecast 2022-2027
• Exhibit 52: Chart on Hardware – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Hardware – Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Hardware – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Hardware – Year-over-year growth 2022-2027 (%)

• 7.5 Services – Market size and forecast 2022-2027
• Exhibit 56: Chart on Services – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Services – Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Services – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Services – Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Component 
• Exhibit 60: Market opportunity by Component ($ million)
• Exhibit 61: Data Table on Market opportunity by Component ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 Europe – Market size and forecast 2022-2027
• Exhibit 67: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.4 APAC – Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027
• Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027
• Exhibit 79: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027
• Exhibit 87: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027
• Exhibit 91: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 UK – Market size and forecast 2022-2027
• Exhibit 95: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027
• Exhibit 99: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 Canada – Market size and forecast 2022-2027
• Exhibit 103: Chart on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 3M Co. 
• Exhibit 115: 3M Co. – Overview
• Exhibit 116: 3M Co. – Business segments
• Exhibit 117: 3M Co. – Key news
• Exhibit 118: 3M Co. – Key offerings
• Exhibit 119: 3M Co. – Segment focus

• 12.4 ASSA ABLOY AB 
• Exhibit 120: ASSA ABLOY AB – Overview
• Exhibit 121: ASSA ABLOY AB – Business segments
• Exhibit 122: ASSA ABLOY AB – Key news
• Exhibit 123: ASSA ABLOY AB – Key offerings
• Exhibit 124: ASSA ABLOY AB – Segment focus

• 12.5 CardLogix Corp. 
• Exhibit 125: CardLogix Corp. – Overview
• Exhibit 126: CardLogix Corp. – Product / Service
• Exhibit 127: CardLogix Corp. – Key offerings

• 12.6 De La Rue plc 
• Exhibit 128: De La Rue plc – Overview
• Exhibit 129: De La Rue plc – Business segments
• Exhibit 130: De La Rue plc – Key offerings
• Exhibit 131: De La Rue plc – Segment focus

• 12.7 Entrust Corp. 
• Exhibit 132: Entrust Corp. – Overview
• Exhibit 133: Entrust Corp. – Product / Service
• Exhibit 134: Entrust Corp. – Key news
• Exhibit 135: Entrust Corp. – Key offerings

• 12.8 Giesecke Devrient GmbH 
• Exhibit 136: Giesecke Devrient GmbH – Overview
• Exhibit 137: Giesecke Devrient GmbH – Business segments
• Exhibit 138: Giesecke Devrient GmbH – Key offerings
• Exhibit 139: Giesecke Devrient GmbH – Segment focus

• 12.9 Goldstone Technologies Ltd. 
• Exhibit 140: Goldstone Technologies Ltd. – Overview
• Exhibit 141: Goldstone Technologies Ltd. – Product / Service
• Exhibit 142: Goldstone Technologies Ltd. – Key offerings

• 12.10 HID Global Corp. 
• Exhibit 143: HID Global Corp. – Overview
• Exhibit 144: HID Global Corp. – Product / Service
• Exhibit 145: HID Global Corp. – Key news
• Exhibit 146: HID Global Corp. – Key offerings

• 12.11 IDEMIA France SAS 
• Exhibit 147: IDEMIA France SAS – Overview
• Exhibit 148: IDEMIA France SAS – Product / Service
• Exhibit 149: IDEMIA France SAS – Key offerings

• 12.12 Intel Corp. 
• Exhibit 150: Intel Corp. – Overview
• Exhibit 151: Intel Corp. – Business segments
• Exhibit 152: Intel Corp. – Key news
• Exhibit 153: Intel Corp. – Key offerings
• Exhibit 154: Intel Corp. – Segment focus

• 12.13 Keyfactor 
• Exhibit 155: Keyfactor – Overview
• Exhibit 156: Keyfactor – Product / Service
• Exhibit 157: Keyfactor – Key offerings

• 12.14 M2SYS 
• Exhibit 158: M2SYS – Overview
• Exhibit 159: M2SYS – Product / Service
• Exhibit 160: M2SYS – Key offerings

• 12.15 Muhlbauer GmbH and Co. KG 
• Exhibit 161: Muhlbauer GmbH and Co. KG – Overview
• Exhibit 162: Muhlbauer GmbH and Co. KG – Product / Service
• Exhibit 163: Muhlbauer GmbH and Co. KG – Key offerings

• 12.16 NXP Semiconductors NV 
• Exhibit 164: NXP Semiconductors NV – Overview
• Exhibit 165: NXP Semiconductors NV – Product / Service
• Exhibit 166: NXP Semiconductors NV – Key news
• Exhibit 167: NXP Semiconductors NV – Key offerings

• 12.17 Thales Group 
• Exhibit 168: Thales Group – Overview
• Exhibit 169: Thales Group – Business segments
• Exhibit 170: Thales Group – Key news
• Exhibit 171: Thales Group – Key offerings
• Exhibit 172: Thales Group – Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 173: Inclusions checklist
• Exhibit 174: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 175: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 176: Research methodology
• Exhibit 177: Validation techniques employed for market sizing
• Exhibit 178: Information sources

• 13.5 List of abbreviations 
• Exhibit 179: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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