Passport Reader Market

Passport Reader Market Size, Share, Growth Analysis, By Technology(RFID, Barcode, OCR), By Type(Swipe Readers, Self-Service Kiosk, Compact Full-Page Reader, Others), By Application(Airport Security, Border Control, Others), By Sector(Public, Private), By Region(North America, Europe, Asia Pacific, Latin America) - Industry Forecast 2024-2031


Report ID: UCMIG45M2019 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Passport Reader Market Insights

Market Overview:

In 2018, the global market size of passport readers was valued at USD 188.21 million, and it is projected to experience a compound annual growth rate (CAGR) of 11.3% from 2019 to 2025. The growth of the market during the forecast period is expected to be driven by an increase in the number of immigrants and the rising adoption of e-passports. Additionally, advancements in technology, such as Optical Character Recognition (OCR), which allows the conversion of images of printed or typed text into machine-encoded text, are also expected to contribute to the demand for passport readers. RFID tags are used to encode the personal data of a passport holder.

Passport Reader Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Technology Distributors by segment aggregation, the contribution of the Technology Distributors in Technology Hardware & Equipment and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

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FAQs

The market for Passport Reader was estimated to be valued at US$ XX Mn in 2021.

The Passport Reader Market is estimated to grow at a CAGR of XX% by 2028.

The Passport Reader Market is segmented on the basis of Technology, Type, Application, Sector, Region.

Based on region, the Passport Reader Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Passport Reader Market are Gemalto NV (France), ARH Inc. (Hungary), 3M (U.S.), IER (France), Access Ltd. (U.K.), Beijing Wintone Science & Technology Co. Ltd. (China), DESKO GmbH (Germany).

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Passport Reader Market

Report ID: UCMIG45M2019

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