E-Passport Market Size Worth US$ 56.9 Billion by 2028 | Industry CAGR of 13.4%

SHERIDAN, WYOMING, UNITED STATES, February 14, 2023 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “E-Passport Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global E-passport market size reached US$ 25.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 56.9 Billion by 2028, exhibiting a growth rate (CAGR) of 13.4% during 2023-2028.

An e-Passport is a chip-enabled passport with a biometric identification card, improving the transparency and security of travel. It consists of a biometric record that stores data, such as the holder's name, date of birth, and other character information. It also relies on contactless smart card technology, which incorporates radio frequency identification (RFID) chips or contact memory buttons, for wireless data transmission. E-passport helps prevent fraudsters from conducting data piracy and making duplicate passports by employing features, such as demographic information, iris scans, color photograph, and the digital signature of the bearer. As compared to a traditional passport, an e-passport assists with quicker verification and secured checks at airports and international borders, thereby saving time.

Request Free Sample Report: https://www.imarcgroup.com/e-passport-market/requestsample

E-Passport Market Trends-

The increasing demand for security across the globe is creating a positive outlook for the market. In line with this, the rising cases of visa and passport fraud and growing illegal immigration cases are acting as another growth-inducing factor. Additionally, the growing establishment of advanced airport infrastructures, especially in developing regions, along with the rising digitization and increasing adoption of wireless communication technology in the travel industry, is favoring the market growth. Apart from this, the development of e-passport smart gates at airports, which help simplify the identification and immigration processes, is providing an impetus to the market growth. Moreover, the rising awareness among individuals about the benefits of e-passports, including cost-effectiveness, reducing the risk of data alteration and duplication, less processing time, and greater data storage capacity, is positively influencing the market growth. Other factors, including the rising expenditure capacities of consumers, extensive research and development (R&D) activities, and growing air traffic and the number of people traveling to cross-border destinations, are anticipated to drive the market growth.

Ask Analyst and Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=6000&flag=C

The report has segmented the market on the basis of technology, security, application and geography.

Breakup by Technology:

Radio Frequency Identification (RFID)
Biometric

Breakup by Security:

Basic Access Control
Password Authenticated Connection Establishment
Supplemental Access Control
Extended Access Control

Breakup by Application:

Leisure Travel
Business Travel 

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Related Reports

https://www.einnews.com/pr_news/582178899/gaming-accessories-market-report-2022-covid-19-impact-market-trends-share-size-and-forecast-till-2027

https://www.einnews.com/pr_news/582181841/electric-toothbrush-market-report-to-2027-a-3-billion-opportunity-imarcgroup-com

https://www.einnews.com/pr_news/582187168/docking-station-market-report-to-2027-a-9-billion-opportunity-imarcgroup-com

https://www.einnews.com/pr_news/582890716/indoor-lbs-market-report-to-2027-a-34-billion-opportunity-imarcgroup-com

https://www.einpresswire.com/article/583566263/soundbar-market-share-size-growth-analysis-trends-and-forecast-2022-2027

https://www.einnews.com/pr_news/583568668/global-education-apps-market-size-share-analysis-trends-and-forecast-2022-2027

https://www.einnews.com/pr_news/583572382/enterprise-resource-planning-erp-market-report-to-2027-a-70-billion-opportunity-imarcgroup-com

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+ +1 6317911145
email us here