E-Visa Market Growth Forecast 2020-2027
E-Visa Market Scenario:
The E-Visa Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the E-Visa Market highlights the future prediction and the growth alternatives that can be created
According to Market Research Future (MRFR), the global e-visa marketvaluation is poised to reach 2,551.6 million by 2027, growing at an 11.4% CAGR during the assessment period (2020-2027). Various countries across the globe are increasingly seeking e-visa facilities to sort the issues of security, inbound tourism, investments, bilateral relations etc. This, as a result, drives the e-visa market.
E-visa solutions offer flexibility to government agencies through a real-time background check facility, watch-list vetting against national security, and access to the Interpol databases for all applicants. This, in turn, creates an intelligent information report based on traveler information and other statistical data. The system can easily be integrated within the central visa database via a secured network connection and offers government and immigration officials with comprehensive data needed to approve and confirm a traveler’s identity across the entire process of immigration. Due to the flexibility and scalability of e-visa solutions, government agencies are increasing e-visa adoption, thereby driving the market growth.
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Competitive Outlook:
Players leading the e-visa market include 4G Identity Solutions Private Limited (India), Mühlbauer Group (Germany), VFS Global Group (UAE), Gemalto NV (Netherlands), SCICOM (Malaysia), CBN (Canada), C Serve Corporate Services (Mozambique), Securiport LLC (US), BLS International (India), MITECH (Oman), and Swiss Authentic SA (Switzerland), among others.
Segmentation:
The report is segmented into components, platform, application, and region. The component segment is sub-segmented into software and service. The platform segment is sub-segmented into desktops, smartphones, and tablets.
The application segment is sub-segmented into traveling, students/educational visas, government/foreign affairs, and others. The sub-segment traveling is further bifurcated into leisure travel and business travel. The region segment is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Regional Analysis:
North America accounted for the largest market share in the e-visa market. The market in North America has been segmented into the US, Canada, and Mexico country-level markets. The US is the most visited country for both business as well as leisure purposes. The electronic system for travel authorization (ESTA) issued by the US, the electronic travel authorization (ETA) issued by Canada, and the universal e-visa issued by Mexico have ushered in the growth of the e-visa market in the region. The US has the largest market share in the North American e-visa market.
Globally, Asia-Pacific is the second-largest e-visa market. Asia-Pacific has been segmented into India, Vietnam, Thailand, Singapore, Malaysia, Australia, and the rest of Asia-Pacific. The region accounts for a quarter of the world’s tourism revenue, and in order to further promote tourism, APAC countries have added support for e-visas, which has helped the market grow in the region. Malaysia is expected to have the largest market share in the Asia-Pacific e-visa market.
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Table of Contents:
1 Executive Summary
2 Market Introduction
2.1 Definition 18
2.2 Scope Of The Study 18
2.3 Research Objective 18
2.4 Market Structure 18
3 Research Methodology
3.1 Research Process 19
3.2 Primary Research 20
3.3 Secondary Research 21
3.4 Market Size Estimation 21
3.5 Forecast Model 23
3.6 List Of Assumptions 24
4 Market Dynamics
Continued….
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