Technavio, a tech-focused market research firm, has published a new report on the global e-passport market, which is expected to grow at a CAGR of more than 26% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global e-passport market into the following key regions: Americas, APAC, and EMEA.
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Top three contributors for the global e-passport market are elaborated below
E-passport market in EMEA: The high market share of the e-passport market in EMEA is attributable primarily to the early adoption of biometric technology for various purposes like border control, airport security, identity security, and law enforcement in European nations, including Germany, the UK, and France. Many countries have introduced a wide range of procedures and computerized methods to eliminate passport frauds and address the concerns that are associated with international business and personal security.
According to Ishmeet Kaur, a lead analyst at Technavio, specializing in research on enterprise application, “EU citizens can exercise the right of free movement in the EEA including the EU, Iceland, Liechtenstein, Norway, and Switzerland, without a visa. Citizens who hold valid biometric passports can use automated gates instead of immigration counters at airports in some EEA countries.”
E-passport market in the Americas: The Americas has the highest adoption rate of e-passport technology compared to other regions. The anticipated shift towards the use of other biometric technologies such as facial recognition during the forecast period is likely to favor the growth of the market in this region.
E-passport market in APAC: The implementation of border control technology to reduce the hassles associated with document processing at airports, especially in countries such as Bangladesh and India, are factors which are expected to propel the growth of the e-passport market in APAC. Industry analysts at Technavio project the e-passport market in APAC to generate a revenue of around USD 14 billion by 2021.
The leading vendors operating in the global e-passport market are:
- Gemalto
- Giesecke & Devrient
- Infineon Technologies
- Safran Identity & Security
- Oberthur Technologies
Other prominent vendors in the market include 4G Identity Solutions, ASK, CardLogic, DataCard, HID Global, IRIS, and Mühlbauer.
A more detailed analysis is available in the Technavio report titled, ‘Global E-passport Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Iris Recognition in Access Control Market 2016-2020
- Global Fingerprint Module Market 2016-2020
- Global Fingerprint Biometrics in the VAR Market 2016-2020
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