Title: ePassport Market to Witness Steady Growth at 22.1 % CAGR During 2018 - 2028
1Exclusive Forecast Study of ePassport Market to
Incur Growth at 22.1 CAGR During 2018 - 2028
Report Id REP-GB-8987 Published On 22 Feb,
2019 Category Electronics, Semiconductors, and
ICT
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4ePassport 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.
5ePassport Market
- VALLEY COTTAGE, N.Y. (GLOBE NEWSWIRE) -- The
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
passengers. - 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.
6ePassport 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.
7ePassport 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
om/news-release/2019/02/25/1741519/0/en/ePassport-
Market-Size-will-Record-at-a-CAGR-of-22-1-by-2028-
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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.
8ePassport Market
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