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Increase in cross-border travel has led to growth in the Global E-passport and E-visa Market, which is expected to post a CAGR of 30.17 percent from 2014-2019, says research firm TechNavio.
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.
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.
“Hybrid smart cards not only secure user information, but also have the option for MIFARE functionality, which is a technology owned by NXP Semiconductors,” says Faisal Ghaus, Vice President of TechNavio.
“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.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
Global E-passport Market 2012-2016
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