World E-passport Market to See Remarkable Uptake through 2023
01 Feb 2018 • by Natalie Aster
LONDON – E-passport, a.k.a. biometric passport, refers to an advanced variant of traditional documents equipped with an electronic chip; it was introduced to raise the security structure as well as restrict fraudulent cases, thus, enhancing capabilities with high-tech modern airport structure.
Through 2023, the world’s market for e-passport is set to follow an upward trend, posting a colossal CAGR. The key forces driving the market growth comprise the rising number of travellers, an uptake in ascertain identity frauds, an availability of progressive airport infrastructure facilitates, to name a few. Still, the market growth can be significantly obstructed by such factor as stiff prices for deployment and availability of cost-effective e-passports.
Nowadays, rising penetration of e-passports in developing countries and ongoing technological innovations are likely to open new growth opportunities for the global e-passport market in the offing.
Regionally, the world’s market for e-passport is currently led by APAC. This regional e-passport market is set to remain the leading one up till 2023.
A deep, professional analysis of this market is provided in topical research report “E-passport Market (by Technology and Application) - Global Opportunity Analysis and Industry Forecast, 2017-2023” worked out by AMR.