Passport Reader Market is estimated to grow at a CAGR of 6.5% during 2022-2028

According to the new research report published by The Insight Partners on "Passport Reader Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (RFID, Barcode, and OCR), Type (Swipe Readers, Self-Service Kiosks, Compact Full-Page Readers, and Portable Readers), Application (Airport Security, Border Control, and Other Applications), and Sector (Public and Private)" consists of the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The passport reader market size was valued at US$ 212.40 million in 2022 and is projected to reach US$ 310.17 million by 2028; it is expected to grow at a CAGR of 6.5% from 2022 to 2028.

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The increasing spending on the adoption of advanced technologies and security devices in developing and developed countries is driving the demand for passport readers. Governments of different countries are taking significant steps to boost the security and authentication measures at airports and cross-country land/marine borders with the use of electronic devices such as passport readers. Additionally, the continuous emphasis on the construction of new airports and expansion of existing airports are also fueling the demand for passport readers, and therefore driving the passport reader market.

The key factors bolstering the passport reader market growth include surging immigrant population, rising adoption of e-passports, and increasing international air passenger traffic worldwide. Moreover, advancement in technologies, including OCR, is expected to boost the demand for passport readers.

Border control requirements are exceptionally diverse, with certain borders fixed in airports or posts on roads, and several border control measures take place in a mobile manner on ships, trains or by monitoring pedestrians. It outstretched the requisite for an integrated portable reader capable of completing all measures of immigration procedures, such as reading varied ID documents, obtaining biometrics, and connecting to remote databases.

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Increase in Passport Forgery

In the last few years, passport forgery incidents have surged to a great extent, thus, threatening national security. To handle this, the US Department of State's law enforcement arm and DS Service have appointed special agents to identify fake passports and coordinate with over 160 countries for investigation resolutions. Several cases were detected concerning the forging of passports worldwide. Hence, border control authorities and airport officials have installed passport readers that can test the originality of the document. Moreover, the upcoming e-passports are facilitating in eliminating the forgery of documents. These passports have a chip with stored data of travelers, which can be checked at the time of check-in through passport readers. These innovative security features are expected to prevent unlawful activities of generating fake documents. Migration to e-passports has been in progress since 2005, and over 150 states in the US started issuing e-passports in mid-2019. The increase in the deployment of passport readers and issuing of e-passports is expected to mitigate the threat of forged passports, which is expected to drive the passport reader market.

The report includes the segmentation of the global Passport Reader market as follows:

The passport reader market is segmented based on type, technology, application, end user, and geography. Based on technology, the market is segmented into RFID, barcode, and OCR. Based on type, the passport reader market size is segmented into swipe readers, self-service kiosks, compact full-page readers, and portable readers. Based on application, the passport reader market analysis is categorized into airport security, border control, and others. Based on sector, the market is segmented into private and public. Based on geography, the passport reader market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

The List of Companies - Passport Readers Market

These passport reader market players include Access Ltd; ARH Inc.; Beijing Wintone Science & Technology Co., Ltd.; DESKO GmbH; Thales Group; IER SAS; Regula Forensics Inc.; Shenzhen Rakinda Technology Co., Ltd.; Lintech Enterprises Limited; and Veridos GmbH. Besides, mentioned passport reader market players, many other vendors were analyzed during the study.

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