Market Highlights
E-visa solutions simplify and streamline the entire visa process lifecycle,
which guarantees minimum to no contact between individuals to secure an
essential travel document and reduces turnaround timelines. Therefore, eVisa
solutions are considered viable for governments and travelers. Increasing deep
cultural, linguistic, and people-to-people ties between countries boost the
e-visa market size.
Global E-Visa
Market is expected to reach USD 4.27 Billion by 2030, recording a CAGR of
11.93% during the forecast period (2020–2030).
Global trade depends on the ability for quick transit between countries. As
developing countries in Southeast Asia such as Malaysia look to capitalize on
the growing tourism industry, these countries have made it simpler for tourists
to acquire e-visas. Countries across the globe are adopting e-visas to
eliminate paperwork. 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.
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.
Visa facilitator agencies are increasingly deploying e-visa portals. For
instance, on Feb 25, 2020, VFS Global (Visa Facilitation Services Global), an
outsourcing and technology services company that serves governments and
diplomatic missions worldwide, announced the launch of the first official and
exclusive electronic Visa on Arrival (eVOA) digital solution for the
convenience and comfort of travelers to Vietnam.
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Segmentation:
The E-Visa Market has been segmented based on Component, Platform,
Application, and Region.
Based on component, the e-visa market has been segmented into software and service.
The service segment is expected to have the largest market share, whereas the
software segment is expected to have the highest CAGR during the forecast
period.
Based on platform, the e-visa market has been segmented into desktops,
smartphones, and tablets. The desktops segment is expected to have the largest
market share, whereas the smartphone segment is expected to have the highest CAGR
during the forecast period.
Based on application, the e-visa market has been segmented into traveling,
students/educational visas, government/foreign affairs, and others. The
traveling segment accounted for the largest market share, whereas the
students/educational visa segment is expected to register the highest CAGR
during the forecast period.
Regional Analysis:
North America dominates the global e-visa
market, with the rise in e-passport usages and international travels.
Besides, increasing deployments of these e-visa systems, including travel
authorization (ESTA) in the US, electronic travel authorization (ETA) in
Canada, and the universal e-visa in Mexico, have ushered in the growth of the
e-visa market in this region. The North American e-visa market is projected to
retain its dominance throughout the estimated period.
The Asia Pacific region stands second in the global e-visa market. The
region accounts for over a 1/4th of the world’s tourism revenues. In order to
promote travel and tourism, APAC countries have added e-visa support, which
helps the market growth in the region. The increased adoption of e-visa by the
governments to improve security and visa verification drives the market growth.
Malaysia is estimated to have the largest market share in the APAC e-visa
market during the forecast period.
The European e-visa market is growing rapidly, mainly due to the growing
adoption of next-generation identification technologies across the public,
government, and private sectors. Furthermore, increasing implementation to
identify individual visa authenticity provides an impetus to the growth of the
regional market. The dynamic growth in
e-visa components and the internet of things (IoT) in the region help increase
the market share.
Global E-Visa Market –
Competitive Analysis
Highly competitive, the e-visa market appears fragmented due to the
presence of several well-established players. To gain a larger competitive
share, industry players adopt strategies, such as mergers & acquisitions,
collaboration, expansion, and product/technology launch.
They make substantial R&D investments to drive research and development
of new technologies and cost-effective portfolios. Considerable investments go
into expansion plans to increase global reach and to gain diverse expertise.
Major Players:
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.
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