Passport Reader Market Analysis Report By Technology, By Type, By Application, By Sector, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619951  |  Published: July 2020  |  No of Pages: 100
Format: Electronic (PDF)  |  Industry: Consumer Electronics

Industry Insights

The global passport reader market size was accounted for USD 188.21 million in 2018. It is projected to witness a CAGR of 11.3% CAGR over the forecasted years, 2019 to 2025. The surging adoption of e-passports coupled with the rising number of international air travelers across the globe is projected to drive the demand for passport readers.

Rapid technological advances like OCR (Optical Character Recognition) being used for image alteration from images of printed or typed text into the machine-readable text are gaining traction across the globe. Moreover, the use of RFID tags to store personal data is projected to drive the need for passport readers in the upcoming years.

North America passport reader market

These readers help in reducing delays caused at check-ins and facilitate error-free information recording. For example, a passport reader named AT9000 MK2 has been launched by Gemalto NV to authenticate and read several documents accurately, quickly, and easily. It can read all types of passports, visas, national IDs, and driver’s licenses.

The rising need for information authentication at border security, hotels, check-in points, and immigration points is driving the demand for passport readers. Also, the surging number of terrorism and trafficking activities and cross-border travels is projected to further fuel up its demand in the upcoming years.

Technology Insights

The segment of RFID held the largest share of more than 40% across the global market in 2018. This can be attributed to the embedded RFID tag in the passport that can be scanned for reading information. Also, the rising focus to develop enhanced security systems is driving the need for the creation of RFID chips on passports and visas.

The segment of optical character recognition is anticipated to register significant growth from 2019 to 2025. This can be associated with the rising need for the conversion of many documents liked scanned papers and digital images into searchable and editable data. The OCR technology is also anticipated to gain significant demand in the upcoming years on account of its feature to record the passport holder’s information.

Type Insights

In 2018, the swipe reader segment dominated the global passport reader market. This can be attributed to its feature of having a strip of magnet that can store the information on swiping of the card. This facility enhances good passenger service at airports and other check-in counters. Moreover, the rising usage of swipe readers across the transportation sector, hotels, car leasing agencies, and banks is projected to drive market growth in the upcoming years.

The segment of the self-service kiosk is anticipated to witness the highest CAGR over the forecasted years, 2019 to 2025. This can be associated with the rising adoption of such devices to effectively manage airport activities. It also facilitates the reduction of delays in queues and check-in points, thereby boosting its need across the globe.

Sector Insights

In 2018, the public sector held the largest share of around 65.0% across the global market. The rising adoption of such devices at immigration points, airport check-in, and border control for document verification is projected to drive the growth of this segment. Moreover, rising installations of self-service kiosks at airports for assisting passengers to avoid delays are projected to fuel up the demand for passport readers.

The segment of the private sector is projected to witness the highest growth from 2019 to 2025 across the global market. This can be associated with the surging demand for passport readers by car leasing & rental companies and travel agencies across the globe. Further, their feature of authenticating information of guests at hotels and stores is projected to drive its demand in the upcoming years.

Application Insights

The application segment of airport security held the largest share across the global market in 2018. This can be attributed to the rising concerns about border terrorism, criminal activities, smuggling, human trafficking, and drug trade. Further, the rising usage of passport readers for identity validation is projected to fuel its demand in the upcoming years.

Global passport reader market

The segment of border control is anticipated to register a significant share over the forecasted years. This can be associated with the surging usage of passport readers for the detection of counterfeit or altered traveler’s documents. Moreover, increasing awareness regarding security concerns coupled with the adoption of this technology for allowing faster and secured border crossing.

Regional Insights

North America held the largest share of 29.0% across the global market in 2018. This can be attributed to the surging growth in the number of air travelers across countries like the U.S. and Canada. Moreover, the usage of e-passports across several airport terminals, immigration points, and hotels is projected to fuel up the market growth. Moreover, rising investments for the development of airport infrastructure coupled with the need for the installation of passport reader devices at airport terminals are anticipated to contribute majorly to the market growth across this region.

The Asia Pacific is projected to witness the highest growth from 2019 to 2025. This can be attributed to the rising presence of several players across this region coupled with the development of products like combo readers and self-service kiosks. Moreover, increasing the adoption of biometric passports across countries like Australia is projected to boost the demand for passport readers.

COVID-19 Impact Insights

The market for passport readers has been impacted on account of the ongoing COVID-19 pandemic. As a majority of the key manufacturers of consumer electronics and raw material manufacturers are located in China, their supply chain has been impacted negatively. Further, the restrictions imposed by several countries over international cargo movement are also hindering the growth of electronic devices like passport readers. Moreover, the traveling bans across the globe have significantly reduced the number of air travelers, thereby obstructing the demand for devices like passport readers at airports.

The market is anticipated to gain traction over the post-pandemic period on account of rapid technological advances being carried out by several major players. Also, the need for ensuring national safety and security will increase in the upcoming years on account of rising trafficking and terrorism cases. These factors are projected to contribute majorly towards the demand for passport readers in the post-pandemic period.

Key Companies & Market Share Insights

The key players in the passport reader market are ARH Inc, IER, 3M, Gemalto NV, DESKO GmbH, Beijing Wintone Science & Technology Co. Ltd., and Access Ltd. These players held a significant share across the global market. They are constantly engaged in product development and innovation to launch good quality products.

For example, 3M has developed an authentication system of travel documents that can authenticate optical features like graphical patterns, logos, crests, and ultraviolet images present of the passport. It has been named as 3M e-Passport Reader and is quite popular across the globe.

Report Scope

Attribute

Details

The base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD million and CAGR from 2019 to 2025

Regional Scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country Scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; China; Japan; India; South Korea; Australia; Brazil

Report coverage

Revenue forecast, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For this study, Million Insights has segmented the global passport reader market based on technology, type, application, sector, and region:

• Technology Outlook (Revenue, USD Million, 2014 - 2025)
    • RFID
    • Barcode
    • OCR

• Type Outlook (Revenue, USD Million, 2014 - 2025)
    • Swipe Reader
    • Self-Service Kiosk
    • Compact Full-Page Reader
    • Others

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Airport Security
    • Border Control
    • Others

• Sector Outlook (Revenue, USD Million, 2014 - 2025)
    • Public
    • Private

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
    • The Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Australia
    • South America
        • Brazil
    • Middle East & Africa

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