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Passport Reader Market Is Expected to Witness Healthy Growth at 11.3% CAGR through 2025 | Grand View Research, Inc.

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Passport Reader Market Is Expected to Witness Healthy Growth at 11.3% CAGR through 2025 | Grand View Research, Inc.

October 11
03:52 2019
Passport Reader Market Is Expected to Witness Healthy Growth at 11.3% CAGR through 2025 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,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 passport reader market.

According to a report, “ Passport Reader Market Size, Share & Trends Analysis Report By Technology (RFID, Barcode, OCR), By Type, By Application, By Sector (Public, Private), By Region, And Segment Forecasts, 2019 – 2025 ”, published by Grand View Research, Inc.,The global passport reader market size is estimated to reach USD 395.97 million by 2025, growing at a CAGR of 11.3% from 2019 to 2025, according to a new report by Grand View Research, Inc. 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.

Furthermore, 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. The continuous advances in biometric technologies are further driving the demand for readers to strengthen security at airports and borders by reducing forgery.

North America dominated the global passport reader market in 2018 and is projected to continue to dominate over the forecast period owing to the rapid and early adoption of advanced technologies such as multi-row OCR reader for machine-readable passports. Asia Pacific is expected to register the highest CAGR owing to the increasing production of readers in countries such as India and China. Countries such as the U.S., Australia, and Germany are estimated to generate considerable revenue over the forecast period.

North America passport reader market

Further key findings from the report suggest:

  • Increasing number of airports and the rising number of immigrants is propelling the demand for passport readers at airport check-in points and border security

  • The airport security segment dominated the market in terms of revenue in 2018 owing to the growing threats of terrorism and other criminal activities

  • The self-service kiosk segment is expected to register the highest growth rate over the forecast period owing to benefits such as reduced waiting time for passengers

  • The public sector dominated the market in 2018 owing to the increasing demand for passport readers from airport check-in points, aviation security points, and so on

  • North America accounted for the largest market share in 2018 owing to the increasing use of e-passports in the region

  • Asia Pacific region is expected to register the highest CAGR over the forecast period owing to the presence of leading manufacturers such as Shenzhen HCC Technology Co., Ltd.

  • The prominent players operating in the passport reader market include Beijing Wintone Science & Technology Co. Ltd. (China); Gemalto NV (France); DESKO GmbH (Germany); ARH Inc. (Hungary); and 3M (U.S.), among others. 

Application Insights

The airport security segment dominated the market in 2018 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 increasing use of a passport reader to validate identity of individuals and identify counterfeit passports at airports is driving the segment growth. Moreover, the installation & usage of security systems and investment for the development of advanced technologies & systems for enhancing airport security are contributing to the growth of the segment.

Global passport reader market

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. The other factors responsible for the growth of segment are rising awareness about security concerns and need for enabling secure and fast border crossing for travelers. The installation of passport readers at border control points to reduce illegal immigration and human trafficking is further propelling the border control segment growth.

Regional Insights

In 2018, 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. The region accounted for approximately 29% share of the global market in 2018. U.S. held a major share in the North American market in 2018 owing to the increasing government investments in airport infrastructure and installation of passport readers at various airports for realizing hassle-free flow of passengers.

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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, and so on. Prominent manufacturers in the APAC region include Shenzhen HCC Technology Co., Ltd. and Sinosecu Technology Co., Ltd. Additionally, the growing adoption of biometric passport and an increasing number of airports in Australia is further expected to fuel the region’s growth.

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Grand View Research has segmented the global passport reader market on the basis of technology, type, application, sector, and region:

Passport Reader Technology Outlook (Revenue, USD Million, 2014 – 2025)

  • RFID

  • Barcode

  • OCR

Passport Reader Type Outlook (Revenue, USD Million, 2014 – 2025)

  • Swipe Readers

  • Self-Service Kiosk

  • Compact Full-Page Reader

  • Others

Passport Reader Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Airport Security

  • Border Control

  • Others

Passport Reader Sector Outlook (Revenue, USD Million, 2014 – 2025)

  • Public

  • Private

Passport Reader Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • South America

    • Brazil

  • Middle East & Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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