Latest News- E-Passport Market: Leisure travel is expected to lead the Application segment during 2025-2029

The E-Passport Market is being driven by Increasing security concerns

The E-Passport Market is expected to grow at a CAGR of 14.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 23819.9 million. The E-passport market has witnessed significant growth over the past decade due to the increasing demand for advanced security measures in the travel industry. Identity theft, terrorism, and fraud are major concerns, and E-passports offer a solution through the use of biometric data and encryption technology. This enhances authentication and safeguards personal information, making it more challenging for counterfeiters to produce fake passports. Furthermore, governments are encouraged to adopt E-passports as they enable seamless and secure travel for their citizens, fostering international trade and tourism. The trend toward digitization and automation in various sectors, including travel, is also driving the adoption of E-passports. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Leisure travel
  • Business travel
• Component
  • Software
  • Hardware
  • Services
• Technology
  • Radio frequency identification
  • Biometric
• Geography
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing security concerns
• Technological advancements
• Government initiatives

However, the market also witnesses some limitations, which are as follows:

• High initial investment costs
• Privacy and security concerns
• Lack of awareness and education

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Market Scope in E-Passport Market Research Report

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Research Analysis Overview

The E-Passport market encompasses secure data storage and digital identity protection through data encryption, secure communication protocols, and biometric data capture. Authentication processes, identity verification, and secure communication are ensured via advanced security features, biometric matching, and e-gate integration. Data sharing protocols adhere to international security standards, while data management systems facilitate travel document verification and e-passport issuance. Fraud detection technologies, cybersecurity solutions, and secure document printing enhance security, alongside mobile passport applications, passenger screening systems, and risk assessment models. Smart border technologies, border control infrastructure, and border management software enable contactless authentication, secure operating systems, and interoperability standards. Digital transformation strategies, travel industry trends, data privacy regulations, and compliance frameworks guide technology innovation in this sector.

Market Research Overview

In the dynamic E-Passport market, biometric authentication, chip technology, and contactless technology are pivotal components. Businesses prioritize the establishment of robust relationships with key suppliers, including land providers, financiers, local transportation services, and equipment suppliers. A sophisticated system for inventory management and control is essential during the production process. Data sourcing and collection are vital in today's digital landscape. Companies must identify and assess various data sources based on cost, coverage, and quality. Inventorying data sources and metadata is crucial for effective utilization. Keywords such as digital signature, electronic visa, and forensic analysis further enhance identity verification and mobile authentication processes, ensuring secure and efficient passport issuance.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/