Passport Reader Market: Emerging Trends and Industry Outlook

The global passport reader market size was valued at USD 188.21 million in 2018 and is expected to grow at a CAGR of11.3%

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.

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Passport Reader Market Report Highlights

• 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.