Electronic Passports Market is expected to rise at annual rate of 22.8% and is anticipated to reach USD 112.51 billion by 2027 with the factors such as easy accessibility of cost effectual e-passport and rising expenditure of implementation which will restrict the growth of the market in the forecast period of 2020 to 2027.
Rising number of people travelling to cross border destinations along with pervasiveness of improved airport infrastructure are some of the factors contributing towards the growth of the market in the above mentioned forecast period.
According to Data Bridge Market Research, the market of electronic passports is witnessing growth due to rising higher verifications ways to detect identity frauds and increasing growth of wireless communication technology. Furthermore, surging levels of investment for the development of advanced and technical products will create new and ample opportunities for the market growth in the forecast of 2020-2027.
Now the question is which are the other regions that electronic passports market is targeting? Data Bridge Market Research has forecasted a large growth in the Asia-Pacific (APAC) due to rising occurrences of terror attacks in the recent past which have increased an alert amongst defence bodies. On the contrary, North America is seen to dominate the market in the forecast period of 2020 to 2027 due to high level security measures at airports.
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Electronic passports market is segmented on the basis of countries into the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Key Market Competitors Covered in the Report
Above are the key players covered in the report, to know about more and exhaustive list of electronic passports companies’ contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-electronic-passports-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Electronic Passports Market – Industry Trends and Forecast to 2027