ePassport Market to Witness Steady Growth at 22.1 % CAGR During 2018 - 2028 - PowerPoint PPT Presentation

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ePassport Market to Witness Steady Growth at 22.1 % CAGR During 2018 - 2028


The report on the ePassport market offers a detailed analysis of the market volume (Units), market drivers, challenges, opportunities and trends, industry growth factors. Analysis of the global ePassport market was valued at 16,458.1 Mn in 2017 and is projected to witness 7.4X expansion at 2018-2028. – PowerPoint PPT presentation

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Title: ePassport Market to Witness Steady Growth at 22.1 % CAGR During 2018 - 2028

Exclusive Forecast Study of ePassport Market to
Incur Growth at 22.1 CAGR During 2018 - 2028
  • Feb 2020

Report Id REP-GB-8987 Published On 22 Feb,
2019 Category Electronics, Semiconductors, and
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ePassport Market
  • Global Air Quality Monitoring Equipment Market
    Report by Future Market Insights
  • According to the latest market intelligence
    report by FMI, the global market size of Air
    Quality Monitoring Equipment pegged US 4.7 Bn
    in 2018 with a CAGR of xx from 2014 to 2018, and
    is spectated to register US xx Mn/Bn by the end
    of 2029 with a CAGR of 7.0 from 2019 to 2029.
  • The global Air Quality Monitoring Equipment
    Market report considers the following years to
    project the overall market growth
  • History Year 2014 - 2018
  • Base Year 2018
  • Estimated Year 2019
  • Forecast Year 2019 2029
  • The present scenario of the Air Quality
    Monitoring Equipment Market is elaborated in
    terms of volume (x units), value (Mn/Bn USD),
    production, and consumption. The report
    scrutinizes the market into various segments, end
    uses, regions and players on the basis of demand
    pattern, and future prospect.  

ePassport Market
    number of ePassports closed in on approximately
    263,966 thousand units in 2018, and will record
    19 Y-o-Y growth in 2019, according to a new
    study of Future Market Insights (FMI). Prospects
    of the ePassport market are influenced by a
    plethora of factors, ranging from protocols
    implemented by regulatory bodies such as ICAO,
    ACI, and IATA to improve border security, to
    smart airport initiatives such as biometrics. 
  • The local data structure (LDS) format,
    traditionally employed in ePassports, have been
    witnessing changes recently. With the
    International Civil Aviation Organization (ICAO)
    working on new version of LDS, called LDS2, which
    will retain the backward compatibility while
    incorporating read-write function. This will
    further extend the functionality of ePassport
    with applications that enable storage of travel
    data, including travel stamps and Visas, coupled
    with other information that include special
    programs or advanced biometrics for special
  • The roadmap for LDS2 has birthed new concepts
    apropos of use and collection of passenger
    information, which in turn is expected to have
    far-reaching implications for the airports. With
    refugee crisis and rise in international
    terrorism, demand for counterfeit and stolen
    passports has been on the rise, which has led
    governments and airlines to better their security
    systems. Advent of ePassport alludes a future
    with more data transmission capability to a
    tamper-resistant and secure integrated circuit
    (IC), thereby revolutionizing airport security
    and reducing waiting times in long queues. 

ePassport Market
  • RFID Remains Preferred Technology while
    Biometrics Gain Marked Significance
  • According to the study, RFID technology has
    witnessed widespread adoption in ePassport
    generation, with global sales estimated at over
    207,396 thousand units in 2018. New applications
    of RFID for ePassport have been introduced,
    however considerable privacy and security risks
    have been identified recently. This has led to
    the incorporation of multistage authentication
    for verification of ePassports, resulting in the
    adoption of biometrics in combination with RFID
    to reduce identity theft and fraud, while aiding
    governments in furthering their border security. 
  • Omnipresence of biometric technology continues to
    enable thorough, yet time-effective screenings
    with the aid of chip readers, which is
    particularly pervasive in commercialized settings
    such as the hospitality industry. As biometric
    technology becomes vital for national security,
    converging digital and physical identities via
    ePassports is viewed as commendable solution for
    improved efficacy and accuracy of border
    security. The study estimates the number of
    ePassports integrated with the biometric
    technology to register Y-o-Y growth at more than
    18 in 2019 over 2018. 
  • ePassport Market Players Eyeing Long-term
    Contracts with Governments
  • According to the study, companies operating in
    the ePassports market have been taking efforts to
    submit tenders and acquire supply contracts for
    ePassport developments and deployments. The
    multi-year service contract of Gemalto N.V. for
    British passports is a prime example of such
    instances. Key players in the ePassport market
    have been concentrating on the development
    deployment of highly-encrypted ePassports, as
    new-generation passports witnessed increased
    incorporation by using PACE and SAC.

ePassport Market
  • Lack of infrastructure developments and
    relatively expensive nature of ePassports remain
    key growth impediments for their market growth.
    ePassport penetration is currently limited to
    developed markets, and several developing
    economies are yet to introduce the biometric and
    electronic variants, particularly held back by
    lack of capital and technological know-how. 
  • The study estimates Europe to lead the ePassport
    market in 2019, with East Asia following the
    suit. The market in East Asia is further
    projected by the study to outgrow all the other
    regional markets in the near future, with efforts
    of countries to improve their border security by
    introducing technologically advanced features in
    their passports.
  • Press-release Source  https//www.globenewswire.c
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    intelligence and consulting firm. We deliver
    syndicated research reports, custom research
    reports and consulting services which are
    personalized in nature. FMI delivers a complete
    packaged solution, which combines current market
    intelligence, statistical anecdotes, technology
    inputs, valuable growth insights and an aerial
    view of the competitive framework and future
    market trends.

ePassport Market
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Private Limited (FMI)
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