The Asia Pacific will represent an increasing percent of the global market for ePassports and eVisas as revenue share increases from 19.2% of global combined ePassport and eVisa revenue in 2009 to 40.63% of this combined global revenue in 2014.
Millburn, NJ (PRWEB) February 22, 2011
New research from Acuity Market Intelligence indicates that the Asia Pacific ePassport and eVisa market will reach sustainable annual revenues of $4.2 billion by the 2014 with an impressive CAGR of 47% from 2009 through 2014. Acuity projects that Asia will displace Europe as market leader dominating both revenue and volume market share. Asia Pacific revenue is projected to increase form $600 million to more than $4.2 billion annually while the number of ePassport and eVisa credentials issued grows form 16,648 to 74,369.
The Asia Pacific market will represent an increasing percent of the global market for ePassports and eVisas as revenue share increases from 19.2% of global combined ePassport and eVisa revenue in 2009 to 40.63% of this combined global revenue in 2014. The regional revenue CAGR of 47% dwarfs global revenue growth projected to reach only 27% during the same period.
The number of countries issuing ePassports in the region grows form 19 to 26 while the number of eVisa issuing countries grows form 0 to 12. Asia Pacific credential volume increases from 23% to 40% of global volume representing a CAGR of 35%.
Acuity Market Intelligence is an emerging technology strategy and research consultancy with a proven record of accurately anticipating identification solution market trends. These forecasts are based on Acuity's latest market research "The Asia Pacific ePassport and eVisa Industry Report".
"Asia's growth is no surprise as identity-based programs are ultimately population driven and more than one third of the world's population resides in this region", says Acuity Principal, C. Maxine Most. "We also expect emerging Asia economies to drive accelerated demand for international travel as both the number of citizens traveling aboard and visas issued for both tourists and business professionals dramatically increase."
"The Asia Pacific ePassport and eVisa Industry Report" is the first in a series of regionally based ePassport and eVisa market analyses Acuity will publish in the first half of 2011. These reports offer lucid, unbiased, insight and analysis and provide previously unpublished critical data and statistics on regional ePassport and eVisa markets. This unprecedented series of reports offers Acuity's trademark brand of hype-free insight into the marketplace for the development of secure electronic passports and visas including a comprehensive opportunity analysis and targeted revenue forecasts for 2009 to 2014.
To order, preview, or get more information on "The Asia Pacific ePassport and eVisa Industry Report", contact Acuity at +1 303 449 1897 or info(at)acuity-mi(dot)com, or visit http://www.acuity-mi.com/APGePPeV_Report.html.
About Acuity Market Intelligence
Acuity Market Intelligence (http://www.acuity-mi.com) is an emerging technology strategy and research consultancy with a proven record of accurately anticipating electronic identification market trends. The company provides strategic planning, market research and analysis, sector tracking, opportunity sizing, solution, and deployment analysis, due diligence, executive briefings, and customized consulting. Founded in October 2001, Acuity is headquartered in Louisville, Colorado, USA with clients in the United States, Asia and Europe.
For further information, please contact:
Acuity Market Intelligence
+1 303 449 1897
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