E-passports market growing due to an increase in people traveling across borders

NEW CITY, N.Y. - Dec. 21, 2022 - PRLog -- E-passports are electronic passports that contain identity details such as names and passport numbers. E-passports are created using an electronic microprocessor chip that contains biometric information such as fingerprints, signatures, photos, and signatures. E-passport has many benefits for end-users. It prevents the misuse of passports and allows travelers to store personal information digitally. This improves security. E-passports offer important benefits such as protection from identity theft and accurate identification of passport holders.
According to research by Market.us, the "E-passport market was valued at USD 24.57 Billion in 2019 and is projected to reach USD 125.13 Billion by 2028, growing at a CAGR of 27.5% from 2022 to 2028. There is a rising demand for ePassports in order to detect identity fraud and protect the personal information of travelers around the world. This is in addition to the expanding airport infrastructure, particularly in developing countries, which are key drivers of the market. There is also an increase in people who travel to foreign destinations. The market is growing due to the increasing use of wireless communication technology within the travel industry. The market is also benefiting from the introduction of ePassport smart gates in airports all over the globe. The market is also being positively affected by the incorporation of advanced technologies such as machine learning and artificial intelligence (AI) in e-passports. The market is also growing due to the increasing awareness of the advantages of e-passports such as a lower processing time and larger data storage. Market leaders are investing heavily in R&D activities to create microprocessor-based passports. This is expected to drive the market."

Key Market Segments

Type

Ordinary E-passport
Service & Diplomatic E-Passport

Application

Adult
Child

Key Market Players included in the report:
Gemalto
Shanghai Mite Speciality & Precision Printing
India Security Press
Beijing Jinchen Cvic Security Printing
Bundesdruckerei
Japan National Printing Bureau
Goznak
Casa da Moeda do Brasil
Canadian Bank Note
Royal Mint of Spain
Polish Security Printing Works
Istituto Poligrafico e Zecca dello Stato
Iris Corporation Berhad
Semlex Group
Veridos
Morpho

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