Fatpos Global has released a report titled “E-passport Market - Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” which is anticipated to reach USD XXXX million by 2030. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 22.69% between 2020 and 2030. According to the report, the growing need to improve passport protection to address the economic danger of identity fraud is fueling the growth of the e-passport market in particular. Increased global travel demands a high degree of protection for both business and pleasure purposes. Standard passports that do not have biometric capabilities risk traveling on foreign flights to illegal passengers. Such ill-intentioned passengers are at risk of obstructing passengers' safety in the air. The E-passport is thus a secure solution to avoid such situations, which fuels the demand for e-passports.
The market report on the global E-passport market includes in-depth insights as:
“The growing need to improve passport protection to address the economic danger of identity fraud is fueling the growth of the e-passport market in particular. An E-passport is a scientifically superior kind of paper-based passport that contains an electronic chip and is known as a "biometric passport." An online portal is an electronic visa or e-visa, allowing an individual to receive a visa conveniently online. E-Passports and E-Visas are used to digitally validate a traveler's identification using a single ID and a digital signature. These advanced approaches improve the safety framework and eliminate fraud. The e-passport and e-visa are safer than its conventional partner, as it avoids adjustments and duplications of data.” said a lead analyst at Fatpos Global.
An additional protection layer not found in standard passports is provided by e-passports often referred to as biometric passports. This relates to a person's biometric details contained in an electronic chip within the passport of the client. An e-passport has an E-Chip that has the same data as the bearer's name, birth date, and any other biographical details on the passport tab. E-passports are used mostly to validate a traveler's identity on foreign flights. The main biometric methods included in this application include fingerprint, face, and iris recognition.
Global E-passport is segmented by technology into radio frequency identification (RFID) and biometrics. The Biometric, segment held the largest market share of XX.X% in the year 2020 due to its intensifying use in the end-user vertical. Standard passports that do not have biometric capabilities have risk traveling on foreign flights with illegal passengers. Such ill-intentioned passengers run the risk of hampering passengers' in-flight safety. Biometrics are a trustworthy measure to avoid such scenarios, thus driving this segment.
Key Players
Some of the key players operating in the global E-passport market are Atlantic Zeiser, Arjo Systems, PrimeKey, ASK, Muhlbauer Group, Entrust, Gemalto, Safelayer S.A. Savvy players, Oberthur, Multos International, M2SYS, Kona I, Edaps Overseas, Other Prominent Players
Get Valuable Insights into Global E-passport Market
In the new report, Fatpos Global thrives to present an unbiased analysis of the global E-passport market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. by technology into radio frequency identification (RFID) and biometric, application into Leisure and business travel. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
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