Global E-Visa Market - Growth Drivers, Opportunities and Forecast Analysis to 2024
Summary -
A new market
study, titled “Global E-Visa
Market - Growth Drivers, Opportunities and Forecast Analysis
to 2024” has been featured on
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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.
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