Passport Reader Market, Emerging Trends, Qualitative Outlook, Business Growth, End Users and Business Opportunities, Top Leading Players and Forecast 2027
The global Passport Reader Market will develop an 8.67% CAGR in the
forecast period 2017- 2023, according to the new Market Research Future (MRFR)
analysis. A passport reader is a device that caters to the demands of passport
reading, travel document reading, visa and ID card OCR reading. Owing to its
alluring features and plentiful benefits, it has wide applications such as
border control, airport security, and others.
Various factors are fuelling the global passport reader market growth.
As per the recent MRFR market estimates, such factors include the growing
immigrants, growing need for authentication of passports, growing adoption of
e-passports, increasing investments on the adoption of advanced technologies
and security devices both in developed and developing countries, advances in
technologies such as OCR, and increasing international air passenger traffic
worldwide.
On the contrary, decline in air passenger traffic, impact of COVID-19
pandemic, technical issues, and high cost of implementation may impede the
global passport reader market growth over the forecast period.
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The notable
players in the passport reader market are Regula Forensics Inc., IER Inc.,
Beijing Wintone Science Technology, DESKO GmbH, Gemalto N.V, ARH INC, Access
Limited, Lintech Enterprises Limited, and IDAC Solutions Pvt. Ltd.
The segmental
investigation of the passport reader market is conducted based on type,
application, technology, sector, and region. Based on the technology, the
passport reader market is segmented into Barcode, OCR, RFID, and other. The
type of basis of segmenting the passport reader market consists of a
self-service kiosk, swipe readers, compact full page reader, and others. The
application-based segmentation of the passport reader market consists of border
control, airport security, and others. Based on the sectors, the passport
reader market is segmented into government, public, and private. Based on the
regions, the passport reader market is segmented into the Asia Pacific, North
America, Europe, and the rest of the world.
Regional Analysis:
The regional
examination of the passport reader market consists of the Asia Pacific, North
America, Europe, and the rest of the world. The Asia Pacific is the fastest
mounting region through the passport reader market. Additionally, the budding
focus of several Asian Pacific government to progress smart cities projects is
advancing the passport reader market along with the growth in the setting up of
automatic gate systems at airports. The North American regional market is
governing the global market by holding 38% of the share in the passport reader
market worldwide. Due to the upsurge in the use of e-passports and the rise in
air passengers, the North American regional market is growing. Also, the
airport and border controls officials in these regions are actively deploying
passport readers to continue an even flow of passengers.
Industry News:
The
global Passport Reader Market Trends has been affected due to the lockdown
across the regions. This pandemic situation has hampered the Passport Reader
Market Growth as well as its productivity, supply chain, and others. Moreover,
the global market has lost its investors due to the increasing loss for the
products, supply, transportation, workforce, and others. However, in the
meantime, the key market players have implied various strategic techniques to
boost global market growth. Thus, to meet the global market demands, the global
market increased its speed in producing more valuable products for its intended
customers. Recently, the global market has stabilized its position in the
global market and is expected to register a higher Passport Reader Market Size
for the forecast period.
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Full Report Details @ https://www.marketresearchfuture.com/reports/passport-reader-market-5929
1 Executive Summary
2 Scope of the Report
2.1 Market
Definition
2.2 Scope
of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets
Structure
3 Market Research Methodology
3.1 Research
Process
3.2 Secondary
Research
3.3 Primary
Research
3.4 Forecast
Model
Continued….
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