LONDON--(BUSINESS WIRE)--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:
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.