E-passport Market to Reach USD 89 Billion by 2030, Growing at a CAGR of 22%

E-passport Market to Reach USD 89 Billion by 2030, Growing at a CAGR of 22%

According to Next Move Strategy Consulting, the global E-passport Market is projected to grow at a significant rate, reaching USD 89 billion by 2030, representing a compound annual growth rate (CAGR) of 22% by 2030. This market growth is largely driven by increasing demand for enhanced security, faster border processing, and the rising adoption of advanced biometric and RFID technologies.

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Market Overview
An e-passport, also referred to as a biometric or digital passport, is a modernized version of traditional paper passports, equipped with an embedded electronic chip that holds essential personal information such as name, date of birth, and other identifying data. This chip, which includes a unique identification number and a digital signature, offers superior security, reducing the risk of identity theft, data duplication, and alteration compared to paper passports. Moreover, e-passports enhance the speed of verification processes at airports and international borders, resulting in reduced waiting times, manpower, and costs involved in immigration procedures.

Market Dynamics and Trends
The growing demand for digital infrastructure at airports, powered by technologies like artificial intelligence (AI) and machine learning (ML), is propelling the e-passport market. These advancements are designed to improve security, reduce passenger wait times, and enable faster processing. Additionally, the increase in disposable income, particularly in developing countries like China, Brazil, and India, is driving greater interest in cross-border travel, further boosting market growth.

The outsourcing of passport services to private sector players has also contributed to the widespread adoption of e-passports, offering improved cybersecurity, data protection, and a streamlined experience for travelers. However, challenges related to rising cyber threats, such as illegal immigration and terrorism, could potentially hinder market growth. Nevertheless, technological innovations like the Logical Data Structure (LDS2), which facilitates international interoperability, are expected to offer lucrative opportunities for the market's expansion.

Market Segmentation
The e-passport market is segmented by technology, including Radio Frequency Identification (RFID) and Biometrics, with biometrics further divided into facial recognition, fingerprint recognition, iris recognition, and other methods. Security features include Basic Access Control (BAC), Password Authenticated Connection Establishment (PACE), Supplemental Access Control (SAC), and Extended Access Control (EAC). The market is also divided by components such as hardware (antennas and processors/chips), software, and services, while the application categories are leisure travel and business travel.

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Geographical Insights
Europe currently dominates the global e-passport market and is expected to maintain its lead during the forecast period. This dominance is fueled by the region's robust adoption of advanced airport infrastructure, including IoT devices and AI-based facial recognition systems. The presence of leading market players, such as Mühlbauer GmbH & Co. and IDEMIA France SAS, further strengthens the region's market position.

For instance, in December 2020, Kyrgyzstan signed a contract with Muhlbauer ID Services GmbH to produce 1.5 million biometric passports with enhanced security features. In contrast, the Asia-Pacific region is witnessing steady market growth due to government-led digitization initiatives. Notably, India’s Ministry of External Affairs entered into a partnership with Tata Consultancy Services (TCS) to introduce chip-embedded e-passports in February 2022.

Competitive Landscape
Leading players in the e-passport market include ASSA ABLOY AB, CardLogix Corp., De La Rue Plc, Giesecke & Devrient GmbH, IDEMIA France SAS, Infineon Technologies AG, and Thales Group. These companies are adopting joint ventures, strategic partnerships, and government contracts to strengthen their positions in the market.

In June 2022, Entrust acquired Evidos, a biometric ID verification service provider, combining their technologies to enhance electronic signature solutions. Similarly, in April 2022, Giesecke & Devrient and Verdios entered a partnership with Costa Rica’s immigration authorities to deliver high-tech e-passports using advanced personalization technologies.

Conclusion
The e-passport market is experiencing significant growth, driven by increasing demand for security, convenience, and technological advancements in digital passports. As governments and private companies invest in biometric technologies and AI-based security features, the market is poised for continued expansion. With key players continuing to innovate and form strategic partnerships, the global e-passport market will offer numerous opportunities for growth in the coming years.

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