Increase in cross-border travel has led to growth in the global e-passport and e-visa Market, which is expected to post a CAGR [compound annual growth rate] of 30.17% from 2014-2019, says research firm TechNavio (www.technavio.com).
The global e-passport and e-visa market is also experiencing high adoption of hybrid smart cards. These smart cards have shared storage and processing of information, which eliminates the need for multiple cards and ensures easy handling.
“Hybrid smart cards not only secure user information, but also have the option for MIFARE functionality, which is a technology owned by NXP Semiconductors,” says Faisal Ghaus, vice president of TechNavio. “MIFARE functionality increases transaction speed, has enhanced security features, is reliable, easy to use and is expected to drive the Global E-passport and E-visa Market in the coming years.”
Furthermore, third generation e-passports are picking up pace, as they have advanced security features and are increasingly being adopted in many countries, he adds.
