E-Passport Market Set to Reach USD 89 Billion by 2030, Driven by Enhanced Security and Digital Transformation

According to a report by Next Move Strategy Consulting, the global e-passport market was valued at USD 23 billion in 2021 and is projected to reach USD 89 billion by 2030, reflecting a compound annual growth rate (CAGR) of 22% during the forecast period from 2022 to 2030.

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Market Segmentation

The e-passport market is segmented based on technology, components, applications, security, type, and geography:

• Technology: Radio Frequency Identification (RFID), Biometrics (Facial Recognition, Fingerprint Recognition, Iris Recognition)
• Components: Hardware (Antenna, Processor/Chip), Software, Services
• Applications: Leisure Travel, Business Travel, Identification/Proof, Immigration/Border Control
• Security: Basic Access Control (BAC), Password Authenticated Connection Establishment (PACE), Supplemental Access Control (SAC), Extended Access Control (EAC)
• Type: Ordinary E-passport, Service E-passport, Diplomatic E-passport
• Geography: North America, Europe, Asia-Pacific, Rest of the World

Geographical Analysis

Europe is expected to hold the highest market share in the global e-passport market, attributed to the presence of major key players such as Mühlbauer GmbH & Co., IDEMIA France SAS, Thales Group, and others. The region’s adoption of high-tech airport infrastructures, including the Internet of Things (IoT) and advanced facial recognition systems, further boosts market growth. For instance, in December 2020, the Kyrgyzstan government entered into a contractual agreement with Mühlbauer ID Services GmbH to launch biometric passports with advanced security features. In Asia-Pacific, countries like India are witnessing steady growth due to government initiatives promoting digitization. In February 2022, the Indian government’s external ministry announced a contract with Tata Consultancy Services (TCS) for the introduction of chip-embedded e-passports to enhance citizen convenience for overseas travel.

Major Players

Key companies operating in the e-passport market include:

• ASSA ABLOY AB
• Thales Group
• De La Rue Plc
• Giesecke & Devrient GmbH
• IDEMIA France SAS
• Entrust Datacard Corporation
• HID Global Corporation
• Infineon Technologies AG
• Mühlbauer GmbH & Co.
• Thales Group

These companies are focusing on research and development, product innovations, and strategic collaborations to enhance their product offerings and expand their market presence. For instance, in June 2022, Entrust announced the acquisition of Evidos, a provider of e-signature and biometric ID verification services, to improve customer experience in electronic signatures and ensure high levels of security. In April 2022, Giesecke & Devrient GmbH entered into a contractual agreement with the General Department of Migration and Immigration of Costa Rica to deliver advanced technology e-passports to the citizens of Costa Rica.

Emerging Trends

The e-passport market is witnessing several emerging trends:

• Enhanced Security Features: The integration of advanced security measures, such as biometric authentication and encryption technologies, is bolstering the security of e-passports, reducing the risk of identity theft and fraud.
• Government Initiatives: Various governments are implementing initiatives to digitize travel documents, enhancing citizen convenience and border security.
• Technological Advancements: Advancements in RFID and biometric technologies are improving the efficiency and accuracy of e-passport systems, facilitating quicker verification processes at immigration checkpoints.
• Public-Private Partnerships: Collaborations between governments and private companies are accelerating the development and deployment of e-passport solutions, ensuring compliance with international standards and regulations.

Conclusion

The global e-passport market is poised for significant growth, driven by advancements in security technologies, government initiatives, and technological innovations. Companies that focus on enhancing security features, fostering public-private partnerships, and complying with international standards are likely to lead in this evolving market.

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