E-passport Market Headed for Growth and Global Expansion by 2030

Global E-passport market: Overview

The rising need to strengthen security features of passports to reduce the rising threat of identity frauds is primarily driving the global e-passport market. E-passports also known as biometric passports have an additional layer of security not found in regular passports. This is pertaining to biometric information of an individual stored in an electronic chip embedded in the user’s passport.

The report delves into key aspects of the global e-passport market to present the readers, with an accurate analysis of growth of this market over the forecast period. The report covers a comprehensive analysis of market drivers, challenges, and opportunities that are important for market stakeholders to formulate lucrative growth strategies. Market growth rate projections and revenue share of key segments over the forecast period are some other highlights of this report.

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Global E-passport Market: Key Trends

The global e-passport market is treading a growth path on account of several factors. Rising global travel for both leisure and business is necessitating a high level of security for security reasons. Regular passports that do not possess biometric capability have risk of illicit passengers to travel on international flights. Such passengers with ill intent carry risk of hampering the security of fellow passengers on the flight. To prevent such scenarios, e-passports are a reliable solution, thereby driving the e-passports market.

Moreover, newer regulations such as ICAO that allow countries to incorporate stringent security measures for foreign travel is aiding the adoption of e-passports. The e-passports market is thus stimulated.

Lastly, outsourcing of visa services is necessitating an additional layer of security in passports. Embassy of countries that outsource their visa service to third-party mandate an additional layer of security in passports of individuals seeking visa for their respective countries. E-passport has served to address the security loopholes of regular passports, and is thus considered a formidable solution. This is bolstering the global e-passports market.

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Global E-passport Market: Geographical Analysis

The global e-passports market could be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America, among them, is a key region in the overall market. High level security measures at airports, country borders in developed countries of the region for civilian security is a key factor driving the North America e-passports market.

Whilst, Asia Pacific is emerging as a key region for e-passports. Increasing security vulnerability due to incidence of terror attacks in recent past have raised an alert among defense bodies. Cross-border travel is increasingly under vigil to be watchful of travelers with illicit intent.

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Global E-passport Market: Competitive Analysis

Key companies in the global e-passport market include Atlantic Zeiser, Gemalto, PrimeKey, Arjo Systems, Entrust, Oberthur, Multos International, Edaps Overseas, M2SYS, Kona I, ASK, Muhlbauer Group, 3M, Austria Card, De La Rue, and Safelayer S.A. Savvy players in the e-passport market are striving to enter into strategic collaborations and partnerships in order to expand their outreach. Keen players are also vying to expand their technological capabilities to expand the security feature of e-passports.

Market segmentation based on geography:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

This report gives access to decisive data, such as:

Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for the coming years

Key highlights of this report include:

Overview of key market forces propelling and restraining market growth
Up-to-date analyses of market trends and technological improvements
Pin-point analyses of market competition dynamics to offer you a competitive edge
An analysis of strategies of major competitors
An array of graphics and SWOT analysis of major industry segments
Detailed analyses of industry trends
A well-defined technological growth map with an impact-analysis
Offers a clear understanding of the competitive landscape and key product segments

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

North America
Asia Pacific
Europe
Latin America
The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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