Global E-passport and E-visa market to grow at a CAGR of 30.17% During
The Global E-passport and E-visa Market is also experiencing high adoption of hybrid smart cards. These smart cards have shared storage and processing of information, which eliminates the need for multiple cards and ensures easy handling.
E-passports and e-visas are used to authenticate a traveler’s identity when crossing borders or entering into another country. This technology stores data about the traveler on a smart chip, which includes a unique identification number and a digital signature. It is more secure than traditional paper technology as it prevents data alteration and duplication. The data stored electronically on the chip is authenticated by PKI, thus making e-passport forgeries impossible. Facial, fingerprint, and iris recognition are major biometric modalities used for this process.
As more and more people travel across borders for both business and pleasure, the need for access control at borders has increased. To enhance the safety of individuals and reduce the risk of terror attacks, the International Civil Aviation Organization (ICAO) has made it mandatory for its member countries to implement e-passports.
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“Hybrid smart cards not only secure user information, but also have the option for MIFARE functionality, which is a technology owned by NXP Semiconductors,”.
“MIFARE functionality increases transaction speed, has enhanced security features, is reliable, easy to use and is expected to drive the Global E-passport and E-visa Market in the coming years.”
Furthermore, third generation e-passports are picking up pace, as they have advanced security features and are increasingly being adopted in many countries.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global E-passport and E-visa market for the period 2015-2019. To calculate the market size, the report considers the revenue generated from the hardware, software, and services used for the e-passport and e-visa.
The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors in the Global E-passport and E-visa market. It also presents the revenue forecast of different geographic regions. In addition, the report discusses the major drivers that influence the growth of the Global E-passport and E-visa market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.