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ePassport Market is Expanding at a CAGR of 22.9% from 2022 – 2028

The global ePassport industry is expected to grow at a 22.9 percent compound annual growth rate (CAGR) from US$ 34.3 billion in 2021 to US$ 144.4 billion in 2028.

Changes have recently been made to the local data structure (LDS) format, which has been used in ePassports. The International Civil Aviation Organization (ICAO) is working on a new version of LDS, termed LDS2, that will keep backward compatibility while adding read-write capability. This would enhance the usefulness of ePassport by allowing applications to store travel data such as stamps and visas, as well as other information such as special programs or sophisticated biometrics for particular passengers.

Leading Trends in the Global ePassport Market

The worldwide ePassport market study identifies significant supply and dedemand-siderends, as well as strategic suggestions and a complete analysis of the ePassport market by segment.

While RFID remains the preferred technology, biometrics are becoming increasingly important.

RFID technology has seen extensive use in ePassport creation, according to the report, with global sales estimated at over 207,396 thousand units in 2018. New RFID applications for ePassports have been introduced, but significant privacy and security problems have lately been found. This has led to the use of multistage authentication for ePassport verification, as well as the use of biometrics in conjunction with RFID to prevent identity theft and fraud while also assisting governments in improving border security.

Players in the passport market are looking for long-term contracts with governments.

According to the survey, players in the ePassports industry have been submitting tenders and acquiring supply contracts for ePassport development and deployment. A notable example of this is Gemalto N.V.’s multi-year servicing contract for British passports. Gemalto N.V. (Thales), HID Global Corporation, 4G Identity Solutions Private Limited, CardLogix Corporation, and Infineon Technologies AG are key participants in the passport market.

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