E-Visa Market Resets Expectations, May See Boost in Revenue Cycle

Market Research Future

Published

November 28, 2022

E-Visa Market valuation projected to reach USD 4.27 Billion by 2030 with 11.93% CAGR.

The global e-visa market is growing rapidly, mainly due to the need for smart techniques that can eliminate paperwork and support operators. Moreover, the demand for flexibility and scalability fosters market growth, meeting the changing needs across countries. The growing number of immigrants and the increasing adoption of e-visa solutions for rising authentication needs positively impact market growth.

E-visa solutions simplify and streamline the entire visa process lifecycle, which guarantees minimum to no contact between individuals to secure an essential travel document and reduces turnaround timelines. Therefore, eVisa solutions are considered viable for governments and travellers. Increasing deep cultural, linguistic, and people-to-people ties between countries boost the e-visa market size.

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Key Players

Civic Security Printing
Veridos GmbH
4G Identity Solutions
IRIS CORPORATION BERHAD
Semlex Group
BLS International
intergrafconference
Swiss Authentis S.A
DEMIA
Envato Pty Ltd
Bundesdruckerei GmbH
Mühlbauer Group
VFS Global Group
SCICOM (MSC) BERHAD
Securiport

E-Visa Market Size is estimated at 11.93% in the forecast period. E-visa is a biometric document. It is a combination of both electronic and paper documents that provide authentication for travellers. Contactless visa comes with a microprocessors chip. The radiofrequency identification chip has chips on both the back and front sides of the card. This chip in the market comprises essential information about the user. Name, date, birth, fingerprint, and face recognition of the user. Visa facilitator agencies are increasingly deploying e-visa portals. For instance, on Feb 25, 2020, VFS Global (Visa Facilitation Services Global), an outsourcing and technology services company that serves governments and diplomatic missions worldwide, announced the launch of the first official and exclusive electronic Visa on Arrival (eVOA) digital solution for the convenience and comfort of travellers to Vietnam.

Segment Overview

By Component

Services
Software

By Platform

Tablets
Smartphones
Laptops

By Application

Foreign affairs
Government
Educational visa

By Region

Asia pacific
Europe
North America

Global E-Visa Market – Regional Analysis

North America dominates the global e-visa market, with the rise in e-passport usages and international travels. Besides, increasing deployments of these e-visa systems, including travel authorization (ESTA) in the US, electronic travel authorization (ETA) in Canada, and the universal e-visa in Mexico, have ushered in the growth of the e-visa market in this region. The North American e-visa market is projected to retain its dominance throughout the estimated period.

The Asia Pacific region stands second in the global e-visa market. The region accounts for over a 1/4th of the world’s tourism revenues. To promote travel and tourism, APAC countries have added e-visa support, which helps the market growth in the region. The increased adoption of e-visa by the governments to improve security and visa verification drives the market growth. Malaysia is estimated to have the largest market share in the APAC e-visa market during the forecast period.

The European e-visa market is growing rapidly, mainly due to the growing adoption of next-generation identification technologies across the public, government, and private sectors. Furthermore, increasing implementation to identify individual visa authenticity provides an impetus to the growth of the regional market. The dynamic growth in e-visa components and the internet of things (IoT) in the region help increase the market share.

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Global E-Visa Market – Competitive Analysis

Highly competitive, the e-visa market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players adopt strategies, such as mergers & acquisitions, collaboration, expansion, and product/technology launch.

They make substantial R&D investments to drive research and development of new technologies and cost-effective portfolios. Considerable investments go into expansion plans to increase global reach and to gain diverse expertise.

Industry/ Innovation/ Related News:

Apr 16, 2021 —- The Ministry of Home Affairs (MHA) in India announced its plans to restore e-visa facilities for foreigners from 156 countries who intend to visit India for the purposes of business, conferences, and for medical reasons, including in the case of medical attendants.

Though the restrictions were announced in 2020 for 171 countries, only for 156 countries, have been restored, excluding China, UK, Canada, Hong Kong, Indonesia, Iran, Malaysia, and Saudi Arabia from this list.

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