The ePassport market is set to reach a staggering value of USD 383.2 billion by 2033, up from USD 50.6 billion in 2023. This growth is driven by a robust CAGR of 22.4% from 2023 to 2033. The surge in the use of RFID chips, advanced technology integration, faster internet speeds, and substantial investment in international aviation programs are key factors propelling this market.
Increasing air travel and crowded airports are pushing authorities to adopt ePassports more widely. These passports offer advanced features like tracking and enhanced data security through encryption, which are becoming increasingly important to end users.
Additionally, new companies are entering the market with innovative biometric, smart card, and RFID technologies, providing authorities with a variety of options. The market is undergoing significant transformation due to concerns over cybersecurity, data protection, and theft, contributing to its strong growth trajectory.
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Key Takeaways from the ePassport Market Report:
- The United States market leads the ePassport market in terms of market share in North America. The United States region held a market share of 10.2% by 2022. The growth in this region is attributed to the increasing awareness among the population. Moreover, increase in digitization and automation. North America also held a market share of 18.3% global share in 2022.
- Germany’s ePassport market is another significant market in the European region. The market held a market share of 8.7% in 2022. The growth is attributed to the government’s adoption of advanced smart card technology. Europe held a leading global share of 37.1% in 2022.
- The Indian ePassport market thrives at a CAGR of 29.9% during the forecast period. The market’s growth is attributed to leading companies investing, revised passport management, and higher digitization.
- The RFID segment leads the technology-type segment as it held a market share of 78.8% in 2022. The growth is attributed to the WMS integration, higher efficiency, better counting speed, product availability, and smooth storage and distribution.
- Based on the application type, the leisure travel segment leads as it held a market share of 77.9% in 2022. The growth is attributed to higher consumption.
Competitive Landscape:
The key vendors work on better technological integration, and availability of RFID, biometrics, and smart card technology in one. Companies also collaborate to expand their supply chain. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.
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Key Players:
- Gemalto N.V. (Thales)
- HID Global Corporation
- 4G Identity Solutions Private Limited
- CardLogix Corporation
- Infineon Technologies AG
- IDEMIA
- Eastcompeace Technology Co., Ltd.
- Primekey Solutions AB
Recent Market Development
- IDEMIA has introduced the advanced biometric passport system that accelerates border control checks using an ePassport. The company also claims that there is faster throughput, cutting-edge security, and easy-to-authenticate documents.
- Eastcompeace Technology Co., Ltd. has launched its ePassport platform with a multi-layered security proposition, and faster processing.
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Key Segments Covered:
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
Key Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
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