The global immigration control system market is estimated to garner a sizeable revenue and grow at a remarkable CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing requirement for advanced border security solutions, and growing territorial conflicts and geopolitical instabilities around the world. Furthermore, developed and developing countries are emphasizing on the upgradation of existing immigration control system infrastructure, since the last few years. This is projected to offer profitable opportunities to the market in the near future.
Along with these, rising number of travelers globally, and emergence of microprocessor-based passports are also significant factors expected to impel the market growth in the forthcoming years. According to the World Bank, the number of international inbound tourists in 2019 was 2.28 billion, up from 2.221 billion and 2.135 billion tourists in 2018 and 2017 respectively. CLICK TO DOWNLOAD SAMPLE REPORT
The market is segmented by end user into borders, airports, and seaports, out of which, the airports segment is anticipated to hold the largest share and witness the highest growth in the global immigration control system market. This can be accounted to the increasing number of airports, coupled with the rise in air traffic across the globe. Apart from these, growing threat of terrorist attacks, and deployment of stringent regulations at airports by international authorities are also predicted to boost the market segment’s growth in the imminent time. Additionally, on the basis of offering, the software segment is evaluated to occupy the largest share during the forecast period owing to the rising usage of automated, self-service facilities at airport, including strong push behind biometrics, particularly face recognition.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global immigration control system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing air traffic, coupled with escalating focus on tourist activities in the region. Moreover, the market in Europe is projected to acquire the largest share during the forecast period, which can be credited to the increase in incidents of document fraud and identity theft, and rising threat of cybercrime in the region. There were more than 41,000 data breaches across Europe between mid-2018 and early 2019. On an average, about 175,000 incidents of identity fraud occur every year in the United Kingdom. In addition, high emphasis on border management by governments and border agencies are also anticipated to impel Europe’s market growth in the coming years.
The global immigration control system market is further classified on the basis of region as follows:
Our in-depth analysis of the global immigration control system market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing requirement for advanced border security solutions, and growing territorial conflicts and geopolitical instabilities worldwide.
The market is anticipated to attain a remarkable CAGR over the forecast period, i.e., 2022 – 2030.
High cost of immigration control system is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the growing air traffic, coupled with escalating focus on tourist activities in the region.
The major players in the market are Cognitec Systems GmbH, Securiport LLC, M2SYS LLC, State Informatics Limited, Automatic Systems SA, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by offering, verification, end user, and by region.
The software segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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