ID: MRFR/ICT/7299-CR | 87 Pages | Author: Shubham Munde | May 2023
E-Visa Market Size was valued at USD 1.68 billion in 2022. The E-Visa market is projected to grow from USD 1.82 billion in 2023 to USD 4.03 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.3% during the forecast period (2023 - 2032). Smart processes to eliminate paperwork & support operators and Flexibility & scalability to meet changing needs are the key drivers for market growth.
FIGURE 1: E-VISA MARKET SIZE 2018-2032, (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
E-Visa Market Trends
Travelers who wish to visit any country need to apply for a visa in advance. Applying for a visa is cumbersome and takes a lot of time for approval. Traditionally, a lot of paperwork was involved in processing visa applications, which leads to challenges for civilians all around the globe. The key challenge of applying for or issuing a visa is the overall time required to process the application. A traveler seeking to apply for a visa would need to fill out all necessary papers and then mail or hand-deliver all the documents to the desired country’s embassy or consulate. The overall procedure takes around two weeks to two months. E-visa solutions help overcome such challenges as they drastically reduce the lifecycle of visa processing. E-visa offers an easy way to manage and process visa applications. A traveler can seamlessly apply for a visa by accessing the web portal from any device such as desktops, smartphones, and tablets and can receive the approved e-visa within two or three days. The system also provides travelers with a secure application portal and gives them the freedom to apply for visas as late as one day before the travel. There can be a number of circumstances in which someone may need to travel without any extended notice. In such cases, the E-visa process plays a pivotal role and helps travelers approve the visa within a stipulated time. This timeframe is a huge improvement over the current, inconsistent method that could leave travelers waiting two months to get a visa. Due to these benefits, governments of different countries accept and allow E-visa applications, leading to market growth.
E-Visa Market Segment Insights
E-Visa Component Insights
By component, the e-visa market has been categorized as software and services. According to MRFR analysis, the services segment is expected to hold the larger market share, while the software segment is expected to grow at the higher CAGR during the forecast period. E-visa processing software consists of a user interface and an administrative interface. The user interface is designed to accept requests for online visas and keep track of the number of requests. The administrative system automates the entire workflow through the visa facilitation process. The system also creates and maintains a knowledge repository for visa details. A user can assign role-based access rights, thereby ensuring the unauthorized user is unable to access crucial or confidential information. The system administrator on the server-side is the only user with complete access to the system, while others will be designated limited access as per their defined roles.
E-Visa Platform Insights
By platform, the e-visa market has been categorized as desktop, smartphones, and tablets. According to MRFR analysis, the desktop segment is expected to have the largest market share. The smartphone segment is expected to hold the highest CAGR during the forecast period.
E-visa applications are generally submitted on desktops. The desktop browser interfaces allow easy access to visa application websites and aid in uploading the required documents. The availability of smartphones is skewed across the globe along with proper apps for a streamlined experience for mobile-based e-visa applications. The desktop segment is expected to hold the largest market share during the forecast period.
FIGURE 2: E-VISA MARKET SHARE BY PLATFORM 2022 vs 2032 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
E-Visa Application Insights
By application, the e-visa market has been categorized as traveling, students/educational visa, government/foreign, and others. The traveling segment has been further segmented into leisure traveling and business traveling. According to MRFR analysis, the traveling segment is expected to have the largest market share. The Students/Educational Visa segment is expected to have the highest CAGR during the forecast period.
The traveling segment takes into account travel for leisure and business. With the recent upsurge in leisure travelers across the globe due to increased disposable income, millennial sentiment skewed toward experience gathering, and overall ease in visa application and issuance processes across the globe have helped travel growth. According to the US Tourism and Travel Review, business travel is also a lucrative market, with US citizens spending an estimated USD 327 billion on business travel in 2018.
E-Visa Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America holds a largest market share in the global market.
North American countries such as the US and Canada provide an Electronic Travel Authorization (ETA) document to nationals of certain countries, mostly from the EU, for short stay travels to the respective countries. On the other hand, Mexico has a full-fledged E-visa system in place for nationals of all countries. North America, by country, has been segmented into the US, Canada, and Mexico.
The US is the most visited destination in North America, with 79.6 million international tourist arrivals in 2018. E-visa applications are expected to increase with steady growth in international tourism. The Electronic System for Travel Authorization (ESTA) is the body that a visitor must register with before arrival. However, travel bans in certain countries and reduced approvals for student and H1-B working professional visas are expected to hamper E-visa growth in the US.
Canada has eased its visa regulations for international students and has favorable immigration laws. The country has even patriated refugees from war-torn countries. Canada offers an electronic travel authorization (ETA) for a list of countries such as Australia and EU member countries which exempts them from carrying physical visa documents.
FIGURE 3: E-VISA MARKET SHARE BY REGION 2022 VS 2032 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
E-Visa Key Market Players & Competitive Insights
The e-visa market is growing at a remarkable rate due to significant technological innovations. Flexibility and scalability to meet changing needs and smart processes to eliminate paperwork and support operators are expected to drive the growth of the e-visa market during the forecast period. However, the lack of interoperability is expected to hamper the market's growth.
According to MRFR analysis, the growth of the E-Visa Market is dependent on a range of market conditions. The key vendors in the market are Mühlbauer Group (Germany), 4G Identity Solutions Private Limited (India), VFS Global Group (London), SecuriPort LLC (US), Scicom (MSC) Berhad (Malaysia), Gemalto NV (Netherlands), Canadian Bank Note Company, Limited (CBN) (Canada), C Serve Corporate Services (Mozambique), BLS International (India), Swiss Authentis S.A (Europe), and Mi-Tech (Onam).
Key Companies in the E-Visa market include
E-Visa Industry Developments
January 2022 VFS Global announced a strategic partnership with American Express Global Business Travel (GBT) to offer visa services to GBT's corporate clients. The partnership enables GBT clients to access VFS Global's visa and passport services through a single point of contact, streamlining the visa application process for business travelers.
December 2021 BLS International signed a contract with the Embassy of India in Kuwait for passport, consular and visa services. The company is expected to process approximately 200,000 applicants annually.
November 2021 CIBTvisas launched a new e-Visa service for Nigeria. The service enables travelers to apply for a Nigerian e-Visa online, eliminating the need for in-person applications at Nigerian embassies and consulates.
August 2021 TravelAssist launched a new e-Visa service for Azerbaijan. The service enables travelers to apply for an Azerbaijan e-Visa online, eliminating the need for in-person applications at Azerbaijani embassies and consulates.
E-Visa Market Segmentation
E-Visa Component Outlook
E-Visa Platform Outlook
E-Visa Application Outlook
E-Visa Regional Outlook
Middle East & Africa
|Market Size 2022||USD 1.68 Billion|
|Market Size 2023||USD 1.82 Billion|
|Market Size 2032||USD 4.03 Billion|
|Compound Annual Growth Rate (CAGR)||9.3% (2023-2032)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Platform, and Applications|
|Geographies Covered||North America, Europe, Asia Pacific, Middle East & Africa, and South America|
|Countries Covered||The U.S, Canada, Mexico, Germany, France, UK, China, Japan, India, Australia, South Korea, UAE, and Brazil|
|Key Companies Profiled||Mühlbauer Group (Germany), 4G Identity Solutions Private Limited (India), VFS Global Group (London), SecuriPort LLC (US), Scicom (MSC) Berhad (Malaysia), Gemalto NV (Netherlands), Canadian Bank Note Company, Limited (CBN) (Canada), C Serve Corporate Services (Mozambique), BLS International (India), Swiss Authentis S.A (Europe), and Mi-Tech (Onam).|
|Key Market Opportunities||Demand from emerging economies|
|Key Market Dynamics||Smart processes to eliminate paperwork and support operators Flexibility and scalability to meet changing needs|
USD 1.82 Billion in 2023
USD 4.03 Billion in 2032
Mühlbauer Group (Germany), 4G Identity Solutions Private Limited (India), VFS Global Group (London), SecuriPort LLC (US), Scicom (MSC) Berhad (Malaysia), Gemalto NV (Netherlands), Canadian Bank Note Company, Limited (CBN) (Canada), C Serve Corporate Services (Mozambique), BLS International (India), Swiss Authentis S.A (Europe), and Mi-Tech (Onam).
Key Questions Answered
Why Choose Market Research Future?