Pune, India -- (SBWIRE) -- 10/01/2018 -- Market Scenario
The global passport reader market is expected to witness a moderate growth over the forecast period due to growing immigrants, increasing need for authentication of passports, and increasing adoption of e-passports. However, the high cost of implementation and technical issues are projected to hamper the global passport reader market.
In the last two to three years, Passport forgery has been increased to great extent, which threatens national security. The U.S. Department of State's law enforcement arm and Diplomatic Security (DS) Service have deployed special agents for identifying fake passports and also to coordinate with more than 160 countries for investigation purposes. Thousands of cases were found related to forging of passports on a global scale. The border control authorities and airport officials have deployed passport readers, which are capable of testing the originality of document. The upcoming e-passports are helping to eradicate the forgery of the documents by holding a chip in which the data of traveler is stored and can be read at the time of check-in. This advanced security features will definitely help in preventing unlawful activities of producing fake documents.
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Increase in the e-passports is rising the demand for passport readers at the airport terminals, hotels, and car rental service stations among others. These e-passports help in creating highly secure and interoperable infrastructure for international travel. Additionally, they reduce waiting time and benefit users by providing self-service kiosks, which enables the passengers to self-verify. However, one of the major restraining factors slowing down the growth of the passport readers market are the technical issues that occur in the device. The passport reader is an electronic device comprising electronic components, optical scanners, RFID, and others. Electronic components are highly sensitive to high voltage, which may damage them or may interfere with the proper working of the device.
Global Passport Reader Market is expected to grow at a CAGR of approximately 8.67% during the forecast period 2018-2023.
Some of the prominent players in the global passport reader market are Gemalto N.V, ARH INC, Access Limited, Regula Forensics Inc., Beijing Wintone Science Technology, DESKO GmbH, IER Inc., Lintech Enterprises Limited, and IDAC Solutions Pvt. Ltd.
The global Passport Reader Market is segmented by technology, type, application, sector, and region. By the technology, the market is sub-segmented as RFID, Barcode, OCR, and other. By the type, the market consists of compact full page reader, self-service kiosk, swipe readers, and others. The application segment consists of airport security, border control, and others. By the sector, the market is segmented into public, government, and private.
- By the technology, OCR dominated the passport reader technology in 2017 and is projected to grow at the highest CAGR of 10.01% during the forecast period
- By the type, the compact, full page reader dominated the market in 2017. Compact full page reader is projected to grow at a CAGR of 8.09%
By the application, airport security dominated the market in 2017. Border control application is projected to be the fastest growing application at a CAGR of 10.01% during the forecast period
MRFR has segmented the market report by region namely Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America accounted for the largest share of the Passport Reader market, owing to rise in usage of e-passports and increase in air passengers, airport officials and border controls started deploying passport readers to maintain a smooth flow of passengers.
- Technology investors
- Integrated device manufacturers (IDMs)
- Original equipment manufacturers (OEMs)
- Research/Consultancy firms
- Device Manufacturers
LIST OF TABLES
TABLE 1 GLOBAL PASSPORT READER MARKET, BY TECHNOLOGY, 2017-2023 (USD MILLION)
TABLE 2 GLOBAL PASSPORT READER MARKET, BY TYPE, 2017-2023 (USD MILLION)
TABLE 3 GLOBAL PASSPORT READER MARKET, BY APPLICATION, 2017-2023 (USD MILLION)
TABLE 4 GLOBAL PASSPORT READER MARKET, BY SECTOR, 2017-2023 (USD MILLION)
TABLE 5 GLOBAL PASSPORT READER MARKET, BY REGION, 2017-2023 (USD MILLION)
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LIST OF FIGURES
FIGURE 1 TOP DOWN & BOTTOMUP APPROACH
FIGURE 2 FORECAST MODEL
FIGURE 3 DROC OF GLOBAL PASSPORT READER MARKET RESEARCH REPORT: FORECAST TO 2023
FIGURE 4 SUPPLY CHAIN ANALYSIS
FIGURE 5 PORTER'S FIVE FORCES ANALYSIS OF GLOBAL PASSPORT READER MARKET
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