Market Snapshot:
An e-visa (electronic visa) is an online platform which allows an applicant to facilitate online application to get a visa. An e-visa is an advanced form of traditional documents introduced to improve the security structure as well as limit fraudulent cases, so as to increase integration competences with high-tech airport infrastructure. E-visas are used to check identity of a traveler over digital means using unique identification number, digital signature, & others, when crossing borders or entering into another country. This technology stores data of the traveler on a smart chip. Global e-visa market growth is driven by the introduction of e-visa application and services. It eases reduction of hassles throughout the processing and verification of documents at airports, reduces the processing time at immigration desks to get clearance, as well as also permits security personnel to focus their attention on the surveillance of suspicious & high-risk travelers.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia-Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Gemalto (Netherlands), M2SYS Technology (United States), Muhlbauer Group (Germany), IDEMIA France SAS (France), PrimeKey Solutions AB (Sweden), Arjo Systems (Italy), Netrust (Singapore), Oberthur Technologies (France), Atlantic Zeiser (United States), Austria Card (Austria) and VFS Global (UAE) |
Segment Analysis
AMA Research have segmented the market of Global E-Visa market by Type, Application and Region. On the basis of Type, Non Immigrant Visa are dominating the market in the year 2021
On the basis of geography, the market of E-Visa has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, Rest of Asia-Pacific), Europe (Germany, France, Spain, United Kingdom, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Trend
Increasing Adoption of Hybrid Smart Cards
Market Drivers
Growing Cross Border Travel and Introduction of e-visa application and services
Opportunities
Growing Number of identity frauds and Growing adoption of e-visas among developing economies
Restraints
- Huge Cost of Initial Deployment & Replacement
In addition to the aforementioned factor, Growing Cross Border Travel
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The top vendors of in the global e-visa market are investing heavily in R&D strategies in for better outputs and ultimately to make high revenue in the market over coming years. Moreover, collaborations, partnership programs, and offering new services are the other strategies used by these players to lead global e-visa market. and In January 2019, VFS Global along with Immigration bureau of Thailand has introduced new Thailand eVisa service. The Company has announced that it has partnered with the Immigration Bureau of Thailand to provide the new eVisa On Arrival (eVOA) service which is to be applied for travellers from 21 nations.
The key Players profiled in the study are Gemalto (Netherlands), M2SYS Technology (United States), Muhlbauer Group (Germany), IDEMIA France SAS (France), PrimeKey Solutions AB (Sweden), Arjo Systems (Italy), Netrust (Singapore), Oberthur Technologies (France), Atlantic Zeiser (United States), Austria Card (Austria) and VFS Global (UAE). A lot of United States, United Kingdom, France players are profiled in the research study indicating a strong market dependence.