ePassport Market In Depth Analysis, Growth Strategies and Comprehensive Forecast 2023 to 2033

The ePassport market is projected to have a market share of US$ 383.2 billion by 2033. While it is likely to be valued at US$ 50.6 billion in 2023. The market is anticipated to grow at a strong CAGR of 22.4% from 2023 to 2033. The higher penetration of RFID chips, integrated technology, faster internet bands, and advanced adoption of the advanced technology available in the aviation center. Furthermore, the higher investment in international aviation programs is likely to flourish the demand for ePassports.

The increase in flyers and higher density in the airports are pushing authorities to increase the adoption of ePassports from the end users. Alongside this, advanced features like tracking, enhanced safety of data and information of the end users through encryption and other solutions are also flourishing the demand.

New companies introducing their bimetric, smart card, and RFID technology to give authorities options to choose from are flourishing the expanding the market growth. Also, the strong CAGR is tapped as the market goes through a transformational phase due to issues like cyber security, data protection, and theft.

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North America is expected to continue being a highly favorable market in the upcoming period. Based on the research, it is anticipated that the United States will represent approximately 72% of the North American market share until 2028. In 2022, the United States already held a substantial market share of 10.2%.

Based on security, ePassports is sub-segmented basic access control, password-authenticated connection establishment, supplemental access control, and extended access control. The password-authenticated connection establishment (PACE) security segment is set to expand at a CAGR of 26.5% between 2022 to 2028.

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