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Global E-Visa Market Research Report-Forecast till 2025
SKU ID : MRF-15864889 | Publishing Date : 30-Jun-2020 | No. of pages : 87
Global E-Visa Market Research Report-Forecast till 2025
The Global E-Visa Market is evaluated to register a steady growth at a CAGR of 11.4% to reach USD 2,551.6 Million during the review period. Electronic visas are different than the other visa types; applicants can easily obtain an e-visa by entering the required information electronically on the portal. All the documentation and formalities needed for the visa are carried out online and linked to the respective passport number. It is the very simplified and intelligible process for visa-insurance as the label, stamp, and sticker are not there on the passport before traveling. The application is entirely processed over the internet with the web portal hence it is becoming popular.
The global visa market is expected to significant growth during the forecast period due to the requirement for smart processes and removal of paperwork and continuous demand for flexibility and scalability from the applicants to meet the accelerating requirements across the countries.
Market Synopsis
The e-visa market has been classified on the basis of component, platform, application, and region. By the component segment, the e-visa market has been sub-segmented into software and service.
In terms of the platform used, the e-visa market has been divided into desktops, smartphones, and tablets. Based on application type, the global e-visa market has been categorized into traveling, students/educational visas, government/foreign affairs, and others. However, the traveling segment has been further divided into leisure travel and business travel.
Regional Analysis
The E-Visas global market has been segmented as North America, Europe, Asia-Pacific, and the rest of the World.
North America is evaluated to contribute to the largest market segment of the global e-visa market. The regional market is again sub-segmented into the US, Canada, and Mexico and the regional market growth is driven by 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. However, owing to leisure spots and well- established business hub the US has the largest market share in the North American e-visa market.
In 2018, Asia-Pacific was accounted for the second-largest market for e-visa. The regional market has been categorized into India, Vietnam, Thailand, Singapore, Malaysia, Australia, and the rest of Asia-Pacific. The region records for a quarter of the world’s tourism revenue, and in order to promote the travel and tourism sector, APAC countries have added support for e-visas, which has helped the market expansion in the region. Malaysia is evaluated to contribute to the largest market in the Asia-Pacific e-visa market during the study period.
Major Players
The Major 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).
COVID 19 Impacts
We are continuously tracking the impact of COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations and many other useful insights.
Market Overview
The Global E-Visa Market is evaluated to register a steady growth at a CAGR of 11.4% to reach USD 2,551.6 Million during the review period. Electronic visas are different than the other visa types; applicants can easily obtain an e-visa by entering the required information electronically on the portal. All the documentation and formalities needed for the visa are carried out online and linked to the respective passport number. It is the very simplified and intelligible process for visa-insurance as the label, stamp, and sticker are not there on the passport before traveling. The application is entirely processed over the internet with the web portal hence it is becoming popular.
The global visa market is expected to significant growth during the forecast period due to the requirement for smart processes and removal of paperwork and continuous demand for flexibility and scalability from the applicants to meet the accelerating requirements across the countries.
Market Synopsis
The e-visa market has been classified on the basis of component, platform, application, and region. By the component segment, the e-visa market has been sub-segmented into software and service.
In terms of the platform used, the e-visa market has been divided into desktops, smartphones, and tablets. Based on application type, the global e-visa market has been categorized into traveling, students/educational visas, government/foreign affairs, and others. However, the traveling segment has been further divided into leisure travel and business travel.
Regional Analysis
The E-Visas global market has been segmented as North America, Europe, Asia-Pacific, and the rest of the World.
North America is evaluated to contribute to the largest market segment of the global e-visa market. The regional market is again sub-segmented into the US, Canada, and Mexico and the regional market growth is driven by 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. However, owing to leisure spots and well- established business hub the US has the largest market share in the North American e-visa market.
In 2018, Asia-Pacific was accounted for the second-largest market for e-visa. The regional market has been categorized into India, Vietnam, Thailand, Singapore, Malaysia, Australia, and the rest of Asia-Pacific. The region records for a quarter of the world’s tourism revenue, and in order to promote the travel and tourism sector, APAC countries have added support for e-visas, which has helped the market expansion in the region. Malaysia is evaluated to contribute to the largest market in the Asia-Pacific e-visa market during the study period.
Major Players
The Major 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).
COVID 19 Impacts
We are continuously tracking the impact of COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations and many other useful insights.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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