, /PRNewswire/ -- The global E-passport market size is estimated to grow by from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 12.96% during the forecast period.
Increasing security concerns is driving market growth, with a trend towards increased adoption of E-passports. However, high initial investment costs poses a challenge. Key market players include Co.
, Aion Tech Solutions Ltd., ASSA ABLOY AB, AUSTRIACARD AG, CardLogix Corp., De La Rue PLC, DERMALOG Identification Systems GmbH, Entrust Corp.
, GET Group Holdings Ltd., Giesecke Devrient GmbH, HID Global Corp., IDEMIA France SAS, Intel Corp.
, IN Groupe, Keyfactor, M2SYS, Muhlbauer GmbH and Co. KG, NXP Semiconductors NV, Panasonic Holdings Corp., and Thales Group.
Get a detailed analysis on regions, market segments, customer landscape, and companies - The E-passport market has experienced significant growth over the last decade due to heightened security needs in the travel industry. E-passports provide biometric data and encryption technology, making them more secure against identity theft, terrorism, and . Governments benefit from facilitated citizen movement, boosting trade and tourism.
The push toward digitization and automation, accelerated by the COVID-19 pandemic, also drives adoption. E-passports offer faster, smoother processing and increased efficiency, aligning with the growing comfort level with digital identification and transactions. The market is expected to continue .
