Global Market Size, Forecast, and Trend Highlights Over 2025-2037
E-Visa Market size was over USD 1.05 billion in 2024 and is projected to reach USD 4.13 billion by 2037, witnessing around 11.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of E-visa is assessed at USD 1.15 billion.
The rise in need for advanced verification means, increase in the number of identity frauds, a supportive regulatory structure, the presence of advanced airport infrastructure, and growth in air traffic are the major factors estimated to drive the global market. E-passports and E-visas are used to verify the identity of a traveller through digital means, with the use of unique identification numbers, digital signatures, and others. Growth in international traveling is expected to positively affect the market growth. As per the reports of the Federal Ministry for Economic Affairs and Energy, total 1.4 billion people travelled to different countries in 2018. Out of these, 713 million international tourists travelled to Europe. The rise in penetration of the internet globally and the development of smart cities are expected to boost market growth. Moreover, increasing investment of government and non-government organizations for the IoT device market, is also expected to contribute to the market growth. E-visa is for shorter stay but is much easier to apply and less time-consuming.
COVID-19 had a significant negative impact on the market due to lockdown and ban on international travel. The financial impact on individuals has also affected the tourism market in a negative manner. However, e-visa market trends are going to change post-pandemic.
E-Visa Sector: Growth Drivers and Challenges
Growth Drivers
- Rise in Number of International Trips
- Increasing Number of Advanced Infrastructure Airports
- Advancement in Digital Technologies
Challenges
- High Costs Associated with Initial Deployment
E-Visa Market: Key Insights
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
11.1% |
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Base Year Market Size (2023) |
USD 946.2 million |
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Forecast Year Market Size (2036) |
USD 3.71 billion |
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Regional Scope |
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E-Visa Segmentation
On the basis of application, the e-visa market is segmented into leisure travel, business travel, foreign affair, educational travel, and others. The leisure travel segment holds the highest share in the market over the forecast period, owing to the presence of great package deals, and increasing people opting for international trips. However, educational travel is also growing as many students are opting for international study programs.
On the basis of the E-Visa services type, the market is segmented into visas in advance, visas on arrival, and electronic travel authorization (ETA). Out of these, the visas in advance segment is anticipated to hold the highest share in the e-visa market owing to the rise in the number of business trips, for which professionals prefer to have their visas prepared beforehand.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Application |
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E-Visa Services Type |
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Customize this ReportE-Visa Industry - Regional Synopsis
Geographically, the e-visa market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. Asia Pacific industry is predicted to dominate majority revenue share by 2037, owing to growing economy, technological advancement, and rapid urbanization within the region. The presence of a large population of youth within the region also contributes the market growth, as this is a tech-savvy generation. Penetration of the internet in the countries, such as, India, and China, plays a major role in market growth. According to the data of India’s Ministry of Tourism, a total of 29,28,303 tourists arrived on e-visa from January to December 2019, as compared to 23,69,941 in 2018, registering a major annual growth. Further, increase in the number of outbound trips is another major factor driving the regional e-visa market growth. For instance, according to the report of China’s Tourism Academy, China's outbound tourism market grew to 149 million trips in 2018, witnessing a growth of 14.7% from 2017; Outbound spending by Chinese tourists exceeded USD 130 billion, registering an increase of more than 13% as compared to previous year.
Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to rapid advancement in technology and the presence of top key players of the market within the region. Moreover, rising trends of IoT devices and increasing tourism within the region, is estimated to contribute to the e-visa market growth.
Companies Dominating the E-Visa Landscape
- Entrust Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Infineon Technologies AG
- Oberthur Technologies
- Canadian Bank Note Company Limited
- Fortinet, Inc.
- Bundesdruckerei GmbH
- 4G Identity Solutions
- Iris Software, Inc.
- Eastcompeace Technology Co., Ltd
- Cserve Technologies
In the News
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April 2021: Entrust announced the acquisition of a Canadian company named ‘WorldReach Software’ for digital transformation of identification processes to create a seamless travel experience.
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January 2020: Genua GmbH fully integrated with the Bundesdruckerei Group, to expand its portfolio of secure data, identities, and infrastructure.
Author Credits: Abhishek Verma
- Report ID: 3227
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
