E-Passports and ID Cards Market Growth Boost Growth To 2030

According to the Market Statsville Group (MSG), the global ePassports and eID Cards market size is expected to grow from USD 58,752.52 million in 2022 to USD 518,880.40 million by 2033, growing at a CAGR of 21.9% from 2023 to 2033. The major factors such as the development of government initiatives, such as smart infrastructure, digital identity-based driver’s license and increasing integration of various technologies industry across the world. Moreover, various governments have expanded IT spending to support public welfare and CRM activities. Governments all over the world are working to equip residents with digital tools to make data management easier. This has created a lot of opportunities in the market over the forecasting period. On the other hand, lack of awareness and data security has hindered the market growth over the forecasting period.

Definition of the Global ePassports and eID Cards Market

Any type of proof of identity must be shown in order to complete any legal formality or verification process. Regardless of the industry in which a client wants to participate, whether it is banking, insurance, healthcare, technology, travel, education, or any other online service, the consumer is required to show an Identity proof to prove that they are who they claim to be. The risk of identity theft can be reduced by verifying customer identities with the use of eID cards and ePassport.

The businesses have endured a period of fast digitalization in recent years, notably in the last several months. Customers are being verified, KYC is being conducted, and compliance is being ensured by automated techniques in almost every sector. The regulatory sector's introduction of eGate authentication verification for securities intermediaries, travelling and others. The increasing pace of digitization has also revealed flaws in certain verification processes, one of which is the creation of electronic passport and electronic identification document (eID)—an identity document with an electronic layer—was to avoid forgery. The issue is that strict visual security solutions have limitations. The introduction of the electrical layer drastically altered the situation.

Request Sample Copy of this Report: https://www.marketstatsville.com/request-sample/epassports-eid-cards-market?utm_source=free&utm_medium=harsh

Scope of the Global ePassports and eID Cards Market

The study categorizes the ePassports and eID Cards market based on type, and application area at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

Ordinary E-passport

Service & Diplomatic E-Passport

eID Cards

By Application Outlook (Sales, USD Million, 2019-2033)

Adult

Child

By Region Outlook (Sales, USD Million, 2019-2033)

North America

US

Canada

Mexico

Europe

Germany

Italy

France

UK

Spain

Poland

Russia

The Netherlands

Norway

Czech Republic

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Indonesia

Malaysia

Thailand

Singapore

Australia & New Zealand

Rest of Asia Pacific

South America

Brazil

Argentina

Colombia

Rest of South America

The Middle East & Africa

Saudi Arabia

UAE

South Africa

Northern Africa

Rest of MEA

Direct Purchase Report: https://www.marketstatsville.com/buy-now/epassports-eid-cards-market?opt=3338&utm_source=free&utm_medium=harsh

eID Cards segment accounts for the largest market share by type

Based on the type, the market is divided into ordinary e-passport, service & diplomatic e-passport and eID cards. The eID cards segment is expected to dominate the market share in 2022 in the global ePassports and eID Cards market. The eID cards segment currently dominates the market share in the ePassports and eID Cards market. The shift toward digital transformation by various industries, increasing need to fight against data breach and fraud, surging government support toward data protection laws and regulations, and easy on boarding of customers as well as employees are the factors driving the market’s segment.

North America is expected to witness the largest market share by Region

Based on the regions, the global ePassports and eID Cards market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. Due to major technological breakthroughs and rise in security measures at country borders and airports for improvement in the security of people in the area. The increasing frequency of incidents of cross-border terrorism and terrorist acts in Asia Pacific countries is expected to drive demand for e-passports in the area throughout the forecast period.

Competitive Landscape: Global ePassports and eID Cards Market

The ePassports and eID Cards market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global ePassports and eID Cards market are:

Thales Group (Gemalto)

Veridos

Idemia (Morpho)

De La Rue

Canadian Bank Note

HID Global

Iris Corporation Berhad

VFS Global

Semlex Group

Polycarbonate (Thailand) Co., Ltd.

Bundesdruckerei (German Federal Printing Office)

Beijing Jinchen Cvic Security Printing Co., Ltd.

Casa da Moeda do Brasil

CCL Secure (formerly known as Innovia Security)

Datasonic Group Berhad

Dermalog Identification Systems

Document Security Systems, Inc.

Eastcompeace Technology

Giesecke+Devrient (G+D)

Goznak

IAI Industrial Systems

INCM (Portuguese Mint and Official Printing Office)

India Security Press

Istituto Poligrafico e Zecca dello Stato

Japan National Printing Bureau

Masktech

Mühlbauer Group

Multos International

Orell Füssli Security Printing Ltd.

Polish Security Printing Works

Polycarbonate (Austrian State Printing House)

Real Casa de la Moneda (Spanish Royal Mint)

Royal Mint of Spain

Security Printing and Minting Corporation of India Ltd. (SPMCIL)

Supercom Ltd. (now part of SICPA)

Toppan Printing

Request For Report Discount: https://www.marketstatsville.com/table-of-content/epassports-eid-cards-market

Recent Development

In April 2021, Goznak acquired Uniteller which provides services for commercial and government organizations. Goznak provides R&D, secure services & solutions and manufactures security products like ID cards, banknotes, coins, and state orders.

In April 2019, the acquisition of Gemalto by Thales group has enhanced the company’s product and service offerings. Gemalto develops secure solutions to address the major challenges faced by societies, such as unmanned air traffic management, data, and network cybersecurity airport security or financial transaction security and others.