TechNavio recognizes the following companies as the key players in the Global e-passport Market: Gemalto N.V., Giesecke & Devrient GB Ltd., Morpho B.V., and Oberthur Technologies.
Commenting on the report, an analyst from TechNavio’s team said: “Nations are increasingly implementing the e-passport system as a standard travel document. A major reason for this is that it is mandatory for ICAO member countries and EU countries to implement the e-passport. Another reason for this is the enhanced security provided by the e-passport due to the smart card technology being used. It provides protection against identity fraud, effective border control, and faster immigration inspection. This is having a positive impact on the demand for e-passports as travel documents.”
According to the report, one of the major drivers in this market is the increase in regulatory issues. The ICAO has made it mandatory for its member countries to implement e-passports by 2015 for safer cross-border travel. This has resulted in a large number of companies in the APAC region and South America implementing the e-passport system for travel.
Further, the report states that one of the major challenges in this market is the high cost incurred for the implementation of e-passports. Implementation of e-passport requires the use of a smart card and biometric technologies to save important information in the smart chip, which incurs high cost.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-e-passport-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report -Global e-passport Market 2012-2016
