September 23, 2013 -
The global market for e-passports is set to grow at a CAGR of 32.5% over the period of 2012-2016, according to new research published by TechNavio.
The report, Global e-passport Market 2012-2016, notes that one of the key factors contributing to this growth is increased government regulations. However, the report also indicates that high implementation costs of e-passports could pose a challenge to this growth.
Biometric data is increasingly a part of e-passports – often as embedded fingerprints and facial images.
e-Passports are also seen as a major driver to the global biometrtics market. According to separate research, revenue for the global biometrics market is anticipated to reach $20 million by 2018, and national identity programs and biometric passports are major growth drivers for the industry.
Based on a recent Steria survey, more than half of Europeans support biometric systems for ID documents or ePassports.
According to a SecureIDNews report from 2012, 93 out of 193 U.N member states were issuing e-passports at the time, with 21 additional countries ready to deploy the technology in the next 2 years.