Global Passport Reader Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 11.10 % during a forecast period.



Global Passport Reader Market

The report study has analyzed revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers and market disrupters in the report and same is reflected in our analysis.

The passport readers are widely used at airports to reduce time & queue for check-in and for error-free recording of information. The newly launched readers have used to read ID cards, passports, visas, ePassports, driver's licenses, national IDs, and military common access cards. It also reads 1D or 2D barcodes like QR code, DataMatrix, and PDF417 from the printed documents and mobile phones.

Global Passport Reader Market, Dynamics:

An increase in number of immigrants and adoption of e-passports are expected to drive the growth of the global passport reader market during the forecast period. A technological innovative system like optical character recognition (OCR) is used for the alteration of images of typed or printed text into machine-encoded text is also expected to drive the demand for a passport reader. The demand for authenticating passports at airport check-in points, border security, immigration points, and hotels and increase in terrorism activities are leading to the increasing sales of passport readers. The numbers of counterfeit passport cases, which are posing a threat to the national security of several countries are driving the demand for a passport reader.

With the sudden outbreak of COVID-19 disease, the world is affected, many businesses are shuting down and operations across different enterprises are also compromised. The many key players are working in a non-optimized manner because of they are looking for ways to increase their operational efficiencies, overall productivity. They are also looking for innovative ideas & solutions to increase the revenue.

Global Passport Reader Market, Segment Analysis:

The RFID segment held the XX% market share in 2019 and is projected to contribute market share more than 40% during the forecast period. The RFID technology contains the RFID tag embedded in passports, which helps to read the information. An increase in focus on enhancing security systems has created the demand for RFID chips on visas and passports.

The public sector held the dominant position in the global passport reader market in 2019 and is projected to continue its dominance during the forecast period. The dominant position in the market is attributed to the rise in installation of passport readers at border control, airport check-in, and migration points to check the authenticity of documents. An increase in number of immigrants in countries like Germany, Mexico, and Australia are also contributing considerable demand for the installation of a passport reader in the public sector.

A self-service kiosk is used at check-in points of airports for managing airline passenger traffic and serving passengers to avoid delays. The self-service kiosk segment is expected to grow at a XX% rate of CAGR during the forecast period because of the demand for efficient management of airport activities. A self-service kiosk has installed at airports to enable travelers to avoid long waiting hours in queues and delays at check-in points. It also featured with an RFID tag for scanning passports and speeding up the entry process for travelers. The number of airport constructions is expected to drive the demand for self-service kiosks, especially in Europe and Asia Pacific regions.

In 2019, North America region held the dominant position in global passport reader market. The growth in the market was attributed to the increased number of air passengers. The rise in use of e-passports at hotels, airport terminals, immigration points, government investments in airport infrastructure and installation of passport readers at various airports for realizing hassle-free flow of passengers are some of the prominent factors behind the growth of the regional passport reader market. On the other hand, in current market scenario, the migration has strictly prohibited from one country to another countries across the globe because of the sudden outbreak of the COVID-19 is expected to limit the passport reader market growth.

The objective of the report is to present a comprehensive analysis of the Global Passport Reader Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Passport Reader Market dynamics, structure by analyzing the market segments and projects the Global Passport Reader Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Passport Reader Market make the report investor’s guide.