December 22, 2014 -
According to TechNavio, growing demand for ePassports and national ID cards will result in exponential growth in the Chinese biometrics market, leading to a projected compound annual growth rate (CAGR) of 14.8 percent from 2015-2019.
With countries aiming to replace existing travel documents with electronic passports, otherwise known as ePassports, TechNavio projects fast growth in demand for the highly secure, interoperable international travel document, that incorporates fast and reliable identity authentication with biometric verification.
An ePassport is the same as a traditional passport book with the addition of a small, embedded integrated circuit or chip. The chip stores the same data visually displayed on the data page of the passport, as well as the passport holder’s picture stored in digital form. An ePassport also contains a unique chip identification number and a digital signature to detect data alteration and verify signing authority. The document also can store additional data in the chip, as defined by specific issuing governments.
TechNavio also projects increased biometric market growth due to the expanding use of China’s Resident Identity Card. Legislation passed in 2003 expanded the scope of China’s national ID card and also established the use of newer, second-generation cards, which are machine-readable and more difficult to forge.
In concurrence with TechNavio’s findings, the Biometrics Research Group, publisher of BiometricUpdate.com, believes that within the next decade, the ePassport will become the ubiquitous travel document. The research firm estimates that nearly 500 million ePassports have been issued worldwide by over 100 countries and that approximately 485 million are in circulation. Of these, 54 countries have opted to store facial and fingerprint data in the travel document.
In a Biometric Research Note issued in December 2013, Biometrics Research Group, Inc. estimated that revenues within the global ePassport market will reach US$10.2 billion by 2015.