E-Passport Market Projected to Reach USD 80 Billion by 2027 – Astute Analytica
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An electronic chip printed on the passport's page known as an "e-passport" carries many types of information, including the name, date of birth, and other personal details of the holder. Additionally, this system keeps passenger information on a smart chip with a distinct ID and digital signature.
The industry is rising by an increase in international travelers and the government's search for more secure solutions to effectively handle enormous volumes. Additionally, it is likely that the demand for more advanced security for travelers will favorably affect the market. Around the world, e-passports are already in use in more than 130 nations.
Market Dynamics
Due to increasing connectivity and technological improvements, the usage of the Internet of Things (IoT) has grown significantly over the past ten years globally. A new era of pervasive computing has emerged due to the rapid advancement of technology, the widespread use of the internet, and the accessibility of better connectivity alternatives. Thus, it is predicted that the market will benefit from the use of chips, sensors, and RFID tags in passports.
Growing number of illegal immigrants
Illegal immigrants and those traveling under several identities and passports are becoming more prevalent. A sturdy passport is essential for reducing crime and the number of illegal immigrants. Some of the nations with the strongest passports include Singapore, Japan, South Korea, Germany, Finland, Spain, Italy, and Luxembourg. Another major worry has been travelers using false identities. Therefore, it is crucial to digitize travel and biometric data. Approx 10 million undocumented immigrants live in the US alone, primarily coming from Mexico, India, El Salvador, and Guatemala.
Providing more certainty regarding the bearer's identity, assisting in the fight against the manufacture of phony documents and identity theft. Facilitating a border-crossing process that is more effective. For data integrity and confidentiality, use cryptographic data protection. Additionally, numerous governments are putting into place strict rules and guidelines for the distribution of VISA to nations with shoddy passports. As a result, every nation is now working to meet global norms. This will likely accelerate the use of e-passports. Consequently, this influences the market's growth trajectory.
Digitalization of public sector operations
The public welfare and CRM processes have seen a rise in IT spending from various governments. Governments all across the world are working to provide residents with digital alternatives for convenience and easier data management. Everywhere in the world, comprehensive eGovernment infrastructure is used. Based on several aspects, including but not limited to the threat level, infrastructure, existing data availability, and volume required, each country has specific passport solution requirements. The digitization of the travel system will enable the administration of traveler data. According to ICAO guidelines, all nations must comply with the Machine-Readable Passport (MRP) standard as a minimum requirement to ensure cross-border document interoperability.
Regional Analysis
In terms of revenue and volume, North America and Europe will hold the majority of the worldwide e-passport market share by 2020. due to the use of technology and the presence of significant e-passport producers in the area. It is predicted that the IT investments made by the governments of the United States, Germany, Spain, France, and Canada in public welfare and the development of the transport infrastructure will positively affect the market. By the conclusion of the prediction period, Asia Pacific is anticipated to surpass both areas and take the top spot. The Asia Pacific region's dominance in the market is mostly due to the large populations of its major economies, including China and India.
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Leading Competitors
Some of the prominent competitors operating in the global E-passport market are:
HID Global
Gemalto
Infineon Technologies AG
IAI Industrial Systems
Dermalog
Cognitec Systems
Cognitec Systems
Access IS
Dealer Management System
Cryptovision
Other Prominent Players
Segmentation Outline
The global E-passport market segmentation focuses on Component, Chip, Cryptography Type, and Region.
By Component
Embedded Systems
o Chips
o Tags
o Others
Services
By Chip
<80 KB
80-180 KB
>180 KB
By Cryptography Type
3DES
AES up to 256 bits
Elliptic curve up to 521bits
RSA up to 3072 bits
Others
By Region
North America
The U.S.
Canada
Mexico
Europe
The U.K.
Germany
France
Spain
Russia
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia & NZ
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
U.A.E.
Saudi Arabia
South Africa
Egypt
Rest of Middle East & Africa
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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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