E Visa Market Share

E-Visa Market Overview

The E-Visa Market is projected to grow from USD 1042.8 Million in 2024 to USD 2403.3 million by 2032, exhibiting a compound annual growth rate (CAGR) of 11.0% during the forecast period (2024 - 2032). Additionally, the market size for E-Visa was valued at USD 939.5 million in 2023.

The E-Visa market refers to the industries related to the processing, issuance, and management of visas and passports for international travel. It includes government agencies responsible for issuing visas and passports, as well as private companies that provide services such as expedited processing, travel insurance, and visa consultation.

The market for visas and passports is influenced by factors such as international travel demand, political and economic conditions, and security concerns. As international travel continues to grow, the demand for visas and passports is also expected to increase. In addition, advancements in technology, such as biometric identification and e-passports, are also driving the market's growth.

As per Analyst at MRFR, “The implementation of e-visas can bring significant economic benefits globally. By attracting more visitors, the tourism industry can generate additional revenue and create jobs, which can further drive economic growth. Overall, the combination of government initiatives and improved user experience has helped to establish the e-visa market as an increasingly popular and essential part of the global travel industry.”

E-Visa Market Trends

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  GOVERNMENT AGENCIES DEVELOPING THEIR OWN E-VISA SOLUTIONS TO CAUSE RESTRAIN FOR GROWTH OF PRIVATE PLAYERS

  
  

E-visas have become increasingly popular as a way for travellers to apply for visas online and avoid the time and effort required to apply for a visa through traditional methods such as embassy visits. In recent years, several government agencies have developed their own e-visa solutions, which could potentially restrain the growth of private players in this field.

The main reason for this is that government agencies have a significant advantage over private players in terms of credibility and trust. When it comes to visa issuance, travellers are more likely to trust the government over a private company, which could potentially lead to a preference for government e-visa solutions.

Furthermore, government agencies have access to a wealth of data and resources that private players may not have. This includes information about immigration policies, security issues, and other factors that are critical to the visa application process. With this advantage, government agencies can potentially offer faster and more efficient visa processing times, which could make private players less competitive.

E-Visa Market Platform Segment Insights

E-Visa Component Insights

Based on Component, the E-Visa Market segmentation includes Software and Services. The Software will be the majority share in 2022, contributing around 40% to the market revenue. E-Visa software can be divided into different types based on their functionality and the target users. Here are some of the main types of E-Visa software, along with examples of applications:

• Visa Processing Systems: These are software systems used by government agencies and embassies to process visa applications. They automate the process of checking visa eligibility, processing applications, and issuing visas. Some popular visa processing systems include.


• Passport Management Systems: These are software systems used by government agencies and passport service providers to manage passport applications and issue passports. They automate the process of verifying passport eligibility, collecting application fees, and processing passport applications. Some popular passport management systems include.


• Travel Document Verification Systems: These are software systems used by airlines, border control agencies, and other travel organizations to verify the authenticity of travel documents. They use biometric data and other security features to detect fraudulent documents and prevent unauthorized travel.

E-Visa Application Insights

Based on the Application, the E-Visa Market segmentation is Travelling, Students/Educational Visa, Government/Foreign, Others. Travelling dominated the market in 2022. The demand for travelling visas and passports is an important indicator of international travel trends and can be influenced by various factors, including global pandemics, political and economic situations, and international relations.

In general, the demand for travelling visas and passports has been impacted by the COVID-19 pandemic. Many countries have implemented travel restrictions and border closures to control the spread of the virus, which has greatly reduced the demand for these documents. The World Tourism Organization reported that in 2020, international tourist arrivals decreased by 74% compared to the previous year, representing a loss of approximately one billion arrivals. This decrease in tourism has had a significant impact on the demand for travelling visas and passports.

E-Visa Platform Insights

Based on Platform, the E-Visa Market segmentation includes Desktop, Smartphone, Tablets. The Desktop held the majority share in 2022. Desktop devices have traditionally been the dominant platform for accessing online services, and this trend is also evident in the e-visa market. Most e-visa applications are currently submitted through desktop computers, as currently submitted through desktop computers, as they offer a larger screen and more comfortable typing experience. Additionally, many users feel more secure using their desktops for sensitive transactions like submitting visa applications. However, the use of desktop devices for e-visa applications is expected to decline in the coming years. This is due to the increasing popularity of smartphones and tablets, which offer greater portability and flexibility. Additionally, many countries are now offering mobile-friendly e-visa applications, making it easier for users to apply for visas from their smartphones or tablets.

E-Visa Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. The Asia-Pacific E-Visa market accounted for ~40% in 2022. It is expected to exhibit a significant CAGR growth during the study period. The E-Visa market in the Asia Pacific region is a significant industry due to the large volume of travel and immigration to and from the region. The Asia Pacific region consists of many countries, each with its own set of E-Visa requirements.

China is one of the largest markets for visas and passports in the region, with millions of people applying for various types of visas each year, including tourist, work, and student visas. The Chinese passport is also gaining strength and is now ranked among the top 70 most powerful passports globally.

Other countries in the region, such as Japan, South Korea, and Australia, have highly developed E-Visa markets. Japan's passport is among the most powerful in the world, with visa-free or visa-on-arrival access to over 190 countries. South Korea has a streamlined visa application process and offers multiple visa categories, including business, work, and student visas. Australia has a well-developed E-Visa system and offers several visa categories, including tourist, work, and student visas.

Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, South Korea, and Brazil.

The E-Visa market in Europe is a substantial industry due to the high volume of travel and immigration to and from the region. Europe consists of many countries, each with its own set of E-Visa requirements.

The European Union (EU) is the most significant market for visas and passports in Europe. EU citizens can travel freely within the member states without a visa, and the EU passport is widely accepted around the world. Non-EU citizens, however, need to apply for a Schengen visa to enter the EU for business or tourism purposes, and the process varies from country to country.

Several other European countries, such as the UK and Russia, have their own E-Visa requirements. The UK's passport is widely accepted around the world, and the country has several visa categories, including business, work, and student visas. Russia, on the other hand, has a complex visa process, and travellers need to apply for a visa well in advance of their intended travel date.

E-Visa Key Market Players & Competitive Insights

Global E-visa is the E-visa market refers to the electronic visa market, where visas are processed and issued digitally. The market is growing owing to its convenience, efficiency, and security. Travelers can apply, pay, and receive their visas online, reducing processing times and improving planning. Biometric data collection and real-time background checks ensure safety. More countries are adopting e-visas, making them accessible to a wider audience. Key factors include ease of application, reduced wait times, and increased security measures.

MRFR has analysed some of the major players in the E-Visa Market who have contributed to the market growth. These include Mühlbauer Group, BLS International, Scicom (MSC) Bhd, Canadian Bank Note Company, Limited (CBN), Cserve Technologies, IVisa.com, VisaHQ, Travisa Visa Service Inc., ItsEasy Passport & Visa Services, Gemalto N V, 4G Identity Solutions Pvt. Ltd, VFS Global, Securiport LLC, Swiss Authentis S.A are among the top players in E-Visa Market. these players focus on expanding and enhancing their product portfolio and services to remain competitive and increase their customer. Among these, VFS Global, Gemalto NV, Mühlbauer Group, Thales Company, VisaHQ are among the top 5 players in the E-Visa Market.

The E-Visa Market is consolidated, increasing competition, acquisitions, mergers, and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the E-Visa market include.

• Mühlbauer Group


• BLS International


• Scicom (MSC) Bhd


• Canadian Bank Note Company, Limited (CBN)


• Cserve Technologies


• com


• VisaHQ


• Travisa Visa Service Inc.


• ItsEasy Passport & Visa Services


• Gemalto N V


• 4G Identity Solutions Pvt. Ltd


• VFS Global


• Securiport LLC


• Swiss Authentis S.A

E-Visa Industry Developments

• In June 2023, BLS International Services Ltd. signed a contract with the Embassy of Italy in Kazakhstan to enhance and streamline the visa application process for individuals traveling to Italy from Kazakhstan. BLS International will open five visa application centers across Kazakhstan, handling 25,000 visa applications annually, and offering end-to-end visa processing solutions, including application submission, biometric data collection, and applicant support.


• In October 2023, iVisa has partnered with travel partners to provide worldwide tourism visas for any travel agent. The aim of this partnership is to gives travel agents the flexibility to set up built-in options allowing them to fully customise the system to their needs.

E-Visa Market Segmentation

E-Visa Component Outlook

• Software


• Services

E-Visa Application Outlook

• Travelling


• Students/Educational Visa


• Government/Foreign


• Others

E-Visa Platform Outlook

• Desktop


• Smartphone


• Tablets

E-Visa Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Mexico
  
  
  
  • Europe
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa


• South America