The global passport reader market size is expected to be worth around US$ 400.97 million by 2030, according to a new report by Vision Research Reports.
The global passport reader market size was valued at US$ 190.21 million in 2020 and is anticipated to grow at a CAGR of 12.3% during forecast period 2021 to 2030.
|Market Size||USD 400.97 million by 2030|
|Growth Rate||CAGR of 12.3% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Technology, Type, Sector, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Gemalto NV (France); ARH Inc. (Hungary); 3M (U.S.); IER (France); Access Ltd. (U.K.); Beijing Wintone Science & Technology Co. Ltd. (China); and DESKO GmbH (Germany)|
The increasing adoption of e-passports and need for authentication of passports at airport points, border control facilities, and immigration points are expected to drive the growth of the market. The increasing number of air passengers is expected to subsequently trigger the building of new airports, especially in developing economies across the world. The governments of various countries are investing heavily in construction of airports and this is expected to increase the demand for passport readers over the forecast period.
increasing adoption of new technologies such as Optical Character Recognition (OCR) enables saving the time required for airport staff to manually enter the data of passengers in the systems. The use of RFID technology has increased owing to the demand from industries & sectors such as transport, retail, medical, and defense.
By Technology Analysis
The RFID segment dominated the market in 2020 and accounted for a market share exceeding 40%. The RFID technology involves the use of an RFID tag embedded in passports, which would be scanned to read the information.
The optical character recognition segment is expected to witness substantial growth over the forecast period. The growth of the segment can be attributed to the need for converting several forms of documentation such as digital images and scanned paper into editable and searchable data.
By Type Analysis
Based on type, the market has been further segregated into swipe reader, self-service kiosk, compact full-page reader, and others. The swipe reader segment accounted for the largest market share in 2020.
The self-service kiosk segment is projected to exhibit the highest growth over the forecast period owing to the high demand for efficient management of airport activities across the globe. A self-service kiosk installed at airports enables travelers to avoid long waiting hours in queues as well as delays at check-in points.
By Sector Analysis
The public sector dominated the passport reader market in 2020 and accounted for a market share of more than 65%. The growth of the segment can be attributed to the increasing installation of passport readers at border control, airport check-in, and immigration points to check the authenticity of documents.
The private sector is expected to register the highest CAGR over the forecast period. The increasing demand for a passport reader from travel agencies and car rental & leasing companies is expected to drive the segment growth.
By Application Analysis
The airport security segment dominated the market in 2020 and is projected to continue dominating the market over the forecast period. The growing threats of human trafficking, border terrorism, smuggling, drug trade, and other criminal activities have led to the imposition of stringent security measures at airports across the world.
The border control segment is expected to witness significant growth in the next six years. The increasing use of a passport reader to detect altered or counterfeit documents of travelers is expected to drive the segment growth.
By Regional Analysis
North America dominated the market in terms of revenue owing to the increasing number of air passengers. The growing use of e-passports at hotels, airport terminals, immigration points, and so on is driving the demand of passport readers in the region.
Asia Pacific is anticipated to exhibit the highest CAGR over the forecast period. Countries such as China and India are expected to generate considerable revenue over the next six years owing to the presence of several manufacturers and the development of advanced products such as self-service kiosks, combo readers
Gemalto NV (France)
ARH Inc. (Hungary)
Access Ltd. (U.K.)
Beijing Wintone Science & Technology Co. Ltd. (China)
DESKO GmbH (Germany)
Compact Full-Page Reader
Middle East & Africa
The Passport Reader market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Passport Reader market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Passport Reader market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Passport Reader market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Passport Reader market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Passport Reader capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Passport Reader by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Passport Reader market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Passport Reader market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Passport Reader market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Passport Reader industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Passport Reader market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Passport Reader market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Passport Reader market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Passport Reader market. These factors have benefited the growth of the global market for Passport Reader. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Passport Reader. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Passport Reader are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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