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A04159 | Pages: 210 | Charts: 60 | Tables: 98 |
An e-passport is an electronic chip that is printed on passport's page, which contains different types of information such as holder's name, date of birth, and other characteristic information. In addition, this technology stores passenger data on a smart chip, which has a unique identification number and digital signature. Furthermore, many European countries are adopting e-passport as it is safer than traditional paper technology and reduces risk of data duplication and alteration.
Rise in advanced verification technology to detect identity frauds and presence of advanced airport infrastructure among developing nations are some the important factors that propel the market across the globe. In addition, increase in number of people traveling to cross-border destinations propels the global e-passport market growth. However, high implementation cost restrict growth of the market. On the contrary, increase in adoption of wireless communication technology among the travel industry is expected to offer remunerative opportunities for expansion of the global market during the forecast period.
The e-passport market is segmented into Technology and Application. The global is segmented into technology, application, and region. In terms of technology, the market is fragmented into radio frequency identification (RFID) and biometric. Depending on application, it is divided into leisure travel and business travel. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
[TECHNOLOGYGRAPH]
The radio frequency identification (RFID) segment dominated the e-passport industry in 2022, owing to increase in deployment of RFID chip that enabled e-passport services among developing nations such as China, Japan, and India. However, biometric segment is expected to grow at a significant CAGR during the forecast period, owing to reduction in threat of identity frauds and increase in need to improve security of personal information of travelers.
[REGIONGRAPH]
Region wise the e passport market analysis, the market share was dominated by Europe in 2022, and is expected to retain its position during the forecast period. This is attributed to presence of advance airport infrastructure in the UK and Germany and rise in use of smartphones during travelling. However, Asia-Pacific is expected to witness a significant growth rate during the forecast period, owing to increase in demand among developing nations, rise in favorable government policies regarding e-passport across the region, and introduction of e-passport smart gates at airports across various developing countries.
The key players operating in the global e-passport industry include 3M, 4G Identity Solutions, LLC, CardLogix Corporation, Eastcompeace Technology Co., Ltd., Entrust Corporation, HID Global Corporation, Infineon Technologies AG, Muhlbauer Group, Safran, and Thales Group. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the industry.
E-passport industry offer a high level of security and are equipped with advanced features, such as biometric authentication, digital signatures, and encryption, which make them much harder to forge or tamper with. This has made E-passports a preferred choice for governments worldwide as they provide a more secure and reliable way of verifying a traveler's identity. E-passports allow for more efficient and streamlined border control procedures, reducing wait times and enhancing the overall travel experience for passengers.
Moreover, they enable seamless integration with other government systems and databases, such as immigration and law enforcement, providing real-time access to crucial information that can help prevent security breaches and facilitate border management. With the rise of international terrorism and organized crime, governments and international organizations have been seeking new ways to enhance security measures and prevent fraudulent activities that drive growth in increasing security concerns. As many countries continue to invest in advanced security technologies and upgrade their border control systems, the demand for E-passports in the global e-passport market size is expected to grow during the forecast period.
October 2021: Rocket Mortgage, part of Rocket Companies formed a partnership with Salesforce, an American cloud-based software company. Under this partnership, the company aimed to provide mortgage origination technology to credit unions, banks, and other financial institutions through the financial services cloud of Salesforce. Rocket Mortgage along with Salesforce enabled credit unions and banks to offer personalized and fast customer experiences all through the complete loan process.
November 2022: Ally Bank introduced Ally Everyday Cash Back Mastercard, Ally Platinum Mastercard, and Ally Unlimited Cash Back Mastercard, three cards accessible by invitation only. Ally Everyday Cash Back Mastercard is a spending card that can be used with rewards, Ally Unlimited Cash Back Mastercard provides a flat 2% rate of cash back on all purchases, and Ally Platinum Mastercard enhances the credit and offers a higher line of credit, so the users will appreciate the automatic credit line reviews of the card.
December 2021: Ally Financial acquired Fair Square Financial, a company that provides digital-first credit cards. With this acquisition, the company aimed to enhance its range of consumer products. The acquisition also supported the company's target of being the leading full-service digital bank by incorporating the credit risk improvement and targeting services of Fair Square.
Companies manufacturing e-passport have added a range of additional electronic and visual security features to fight identity fraud and to increase security of personal information of travelers, which enhances growth of the market. In addition, increase in introduction of microprocessor-based passports and rapid adoption of advance microprocessor-based passport services across developed nations to increase convenience of travelers drives growth of the market. For instance, in January 2022, the Ministry of External Affairs launched microchip-based electronic passports for its citizens. The main features of the new system include the use of biometrics and artificial intelligence in passport relay services, to ensure smooth movement of citizens at all immigration posts globally. Moreover, integration of advance technology such as machine learning and artificial intelligence in e-passport have improved speed of detecting fraudulent cases in documents of travelers, which drives the e-passport market across the globe.
Increase in investments by governments and private organizations to develop advance airport infrastructure across developing nations of Asia-Pacific and LAMEA countries drives growth of the market. In addition, various countries across the globe are deploying advance technologies such as biometric passport technology, geographic information system, and facial recognition technology to identify frauds and threats at airports. Furthermore, several airport development companies have been using digital technologies to improve operational performance and efficiency at airports. For instance, TAV Technologies, one of the leading management technology providers to airline industries have been using IoT technology to collect biometric data of all passengers from simple sensor devices, smartphones, and wearable connected devices. Thus, such developments across developing as well as developed nations drives growth of the market.
Innovative e-passport technology is manufactured with highly configurable data management tools, which facilitates validation, recording, updating, retrieval, certifying, and issuance of documents to citizens. This is attributed to increase in implementation cost of e-passport technology. In addition, presence of limited number of e-passport provider companies across Asia-Pacific and high cost of electronic chips and biometric sensors across the region hampers growth of the market of in this region. Furthermore, several e-passport providers have been manufacturing e-passport technology with advanced magnetic tape cards, which increases overall cost of e-passports, which, in turn, hampers growth of the market.
Increase in integration of wireless technologies such as smart card in e-passport, which offers airline industries numerous benefits such as improvement in security of biometric information such as palm scan, iris scan, fingerprints, and digital signature is expected to enhance growth of the market in the future. In addition, radio-frequency identification (RFID) reader and radio-frequency identification (RFID) tag use in e-passport technology to automatically track and identify traveler information such as name, date of birth, age and address provides lucrative opportunities for the market growth. Furthermore, radio frequency signal is integrated in e-passport technology to securely transfer travel information to airline companies, which propels the growth of the e-passport market.
Several airport companies have been using advance technologies such as augmented reality, artificial intelligence, and beacons technology to streamline their business process and to improve their revenue. For instance, in November 2022, IDEMIA launched all-new flagship travel document to showcase its most innovative security features and capacity to offer unique yet secure designs, allowing customers to better understand the extent of IDEMIA’s expertise and know-how in the conception, design, and production of innovative passports. Most airports across the UK, Germany, and France have been using blockchain technologies to improve operational efficiencies, security systems, and customer experiences, which provides lucrative opportunities for the market. For instance, Air France, one of the leading airline service providers across France have been using blockchain technology to securely store personal information of travelers such as name, date of birth, age, and address. In addition, biometrics technology is being used at airports to streamline check-in process of customers and to provide a more seamless airport international travelling services, which provides ample opportunities for the market.
The market has seen significant growth worldwide due to the increasing need for secure and efficient travel documentation systems. Europe has been at the forefront of e-passport adoption, with countries such as the UK, Germany, and France leading the charge. These nations have fully embraced e-passports as part of their efforts to strengthen border security and streamline immigration processes. The European Union has also implemented stringent regulations to ensure uniformity in e-passport standards across member states, which has contributed to the rapid expansion of the market in this region.
In the Asia-Pacific region, the market is witnessing robust growth, particularly in countries like China, Japan, and India. Governments in this region are increasingly mandating the use of e-passports to meet international travel security standards. India's rollout of its new generation of biometric-enabled e-passports is expected to further drive market growth. Additionally, the growing middle class in Asia-Pacific, coupled with increased international travel, has created a favorable environment for the expansion of the market.
In North America, both the U.S. and Canada are key players in the market. The U.S. has been a leader in the adoption of advanced e-passport technologies, with the Department of State continuously upgrading its passport infrastructure to improve security and enhance the travel experience. Canada, too, has followed suit by issuing e-passports that meet international standards, contributing to the region’s strong market presence.
Key Market Segments
Key Market Players