ID: MRFR/ICT/7299-CR | February 2020 | Region: Global | 87 pages
An electronic visa (e-visa) is an entry requirement formality performed online, stored in a computer, and linked to the passport number used for the request. It simplifies the visa-issuance process as there is no label, sticker, or stamp to be placed in the passport before traveling to any destination. The application is processed entirely over the Internet with the help of a web-based portal.
The need for smart processes that eliminate paperwork and support operators, and demand for flexibility and scalability to meet changing needs across countries are expected to be the key drivers for the e-visa market during the forecast period.
Global E-Visa Market is expected to reach USD 2,551.6 Million by 2025 at a CAGR of 11.4% during the forecast period.
The e-visa market has been segmented based on component, platform, application, and region.
Based on the component, the e-visa market has been segmented into software and service.
Based on the platform, the e-visa market has been segmented into desktops, smartphones, and tablets.
By application, the e-visa market has been segmented into traveling, students/educational visas, government/foreign affairs, and others. The traveling segment has been further segmented into leisure travel and business travel.
Geographically, the market has been categorized as North America, Europe, Asia-Pacific, and the rest of the World.
North America accounted for the largest market share in the global e-visa market; this region has been further segmented into the US, Canada, and Mexico. The US is the most visited country both for leisure as well as business 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 was the second-largest market for e-visa in 2018. 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 during the forecast period.
The Key Players of the Global E-Visa Market are Mühlbauer Group (Germany), 4G Identity Solutions Private Limited (India), VFS Global Group (UAE), SCICOM (Malaysia), Gemalto NV (Netherlands), CBN (Canada), Securiport LLC (US), C Serve Corporate Services (Mozambique), BLS International (India), Swiss Authentic S.A (Switzerland), and MITECH (Oman).
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
The global e-visa market will be gaining a valuation of USD 2,551.6 Million by 2025.
The market will be growing at a CAGR of 11.4% in coming years.
Component, platform, application are the segments involved in the study of the market.
Asia-Pacific, Europe, North America are the regions scoring well in terms of market’s growth.
4G Identity Solutions Private Limited, Mühlbauer Group, VFS Global Group, SCICOM and more are some of the top players investing in the market’s growth.