Coronavirus (COVID-19) could cause 50 million jobs to be lost worldwide, according to the World Travel and Tourism Council (WTTC). The pandemic currently sweeping the globe has led many countries
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Online visas are becoming more and more popular as travelers embrace the digital age. The world market for electronic visas (eVisas), electronic travel authorizations (eTAs), and e-passports is predicted to grow at a rate of 8.2% over the next 5 years.
Thanks to the internet, worldwide visa information is available online. It is easier than ever to check visa requirements and find out everything a traveler needs to visit most countries.
Many countries have introduced electronic visas and travel authorizations, which can be obtained by applying online. This makes it easy for would-be visitors to organize their travels entirely through the internet.
As global trends shift towards online visas and the digitalization of traveler information, the market for eVisas, eTAs, and ePassports is growing and this growth is expected to continue well into the future.
Why Is the eVisa Market Growing?
Electronic visas and travel authorizations are growing in popularity for a few key reasons.
Being able to apply online is a huge advantage for consumers.
Traditional consular visas can only be obtained from embassies belonging to the country the traveler wants to visit. Embassies are usually located in capital cities, which can mean long, often expensive journeys just to apply for a visa.
Many countries also interview applicants for a consular visa, adding a further, potentially stressful hoop to jump through.
Travelers who are eligible to apply for an eVisa can do so from their own home or office without having to travel to an embassy or attend an interview.
The online application forms for eVisas also tend to be simpler and quicker to complete than those of consular visas.
Immigration authorities in many countries are also keen to introduce and popularize eVisas due to the benefits they bring to the country.
The ease of the online application process can help to encourage tourism, while having traveler data digitalized helps to improve security—this information can be screened against international databases and watchlists to identify risks and prevent incidents.
With all these advantages, more and more countries are investing in this technology and more travelers are taking advantage of it to make their journeys simpler and easier.
The related sector of ePassports is also growing due to the improved security offered by passports with biometric data and electronic chips. Companies that manufacture ePassport and eVisa technology are seeing their market grow as a result of these advantages.
Growth for ePassports and eVisas
The latest research report analyzes the e-Passport and e-Visa market in 2019 and predicts that it will experience its biggest growth and opportunity from 2020 to 2026. This growth will be most pronounced in the Asia Pacific (APAC) region, with key countries like China, Japan, and India.
Leading manufacturers of ePassports and eVisas profiled in the report include the following companies and organizations:
- Shanghai Mite Speciality and Precision Printing
- India Security Press
- Beijing Jinchen Cvic Security Printing
- Japan National Printing Bureau
- Casa da Moeda do Brasil
- Canadian Bank Note
- Royal Mint of Spain
- Polish Security Printing Works
- Istituto Poligrafico e Zecca dello Stato
- Iris Corporation Berhad
- Semlex Group
Of these, Gemalto dominated global ePassport and eVisa sales in 2017, with 30.97% of the market share. Shanghai Mite Speciality and Precision Printing and India Security Press were also key players with 17.45% and 12.79% respectively.
As the market continues to grow into the next decade, the study predicts that the global market for ePassports and eVisa will expand to US$12600 million in 2023, from US$7880 million in 2017.
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