Global Passport Reader Market Scope

Global Passport Reader Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global passport reader market is estimated to garner a revenue of approximately USD 449.0 Million by the end of 2031 by growing at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of approximately USD 213.0 Million in the year 2021. The growth of the market can be attributed to an increase in international tourism. As per the World Bank, international tourism in terms of the number of arrivals increased to 2.4 billion in 2019.

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A passport reader is a camera inbuilt device that is designed to take photos of identity documents using special illumination. With the advancement of technology, the passport reader at airports and other security checkers allows biometric passport reader apps for the verification of documents in order to make entry faster and easier than depending on traditional passport photos. Furthermore, the use of electronic passport readers reduces the need for personnel to check documents at check-in and check-out points. For instance, thousands of flights have been cancelled in Britain in the year 2022 owing to the shortages of staff considering the rise in COVID-19 cases. Therefore, a reduction in the requirement of staff for the authentication of identity documents is anticipated to surge the passport reader market size.

Global Passport Reader Market: Growth Drivers and Challenges

Growth Drivers

• Rising Terrorism Activities- Terrorism activities are rising owing to the ease of travel of terrorists from one country to another and it is expected to drive the growth of the global passport reader market. As per the United Nations Office for the Coordination of Humanitarian Affairs, the global terrorist attack count has increased to 5, 226 in 2021.

• Growing Drug Trafficking Cases – According to the data published by U.S-China Economic and Security Review Commission, nearly 64,565 drug trafficking cases were reported in the United States to the U.S Sentencing Commission.

• Surge in Hotels and Motels Business – Passport readers have been used in hotels to verify the identity of the guests. Moreover, the government has some rules and regulations for hotel businesses to keep records of their clients. There are approximately 90,562 hotels and motel businesses in the United States in 2022 representing a 0.4 percent increase per year over the past five years.

• Rise in the Number of Passengers- According to the International Civil Aviation Organization, the total number of passengers that are carried through air transport on scheduled services rose to 4.5 billion in the year 2019, which is 3.6 percent higher than the last year.

• Increased Spending from the Regulatory Department– As per the data provided by American Immigration Council, the United States Border Patrol Budget has been raised to USD 4.9 Billion in 2021 from USD 105 Million in 2000.

Challenges

• High Cost of Deployment

• Technical Issues such as Clandestine Scanning

• Biometric Feature Leakage

The global passport reader market is segmented and analyzed for demand and supply by application into airport security and border control, out of which, the airport security segment is anticipated to hold the largest share of the global passport reader market. The growth of the segment is attributed to the growing threats of criminal activities such as human trafficking, drug trade, smuggling, and others, the need for the identification of counterfeit passports, the development of advanced technologies, and the enhancement of airport security. According to the U.S Department of State, there has been a rising trend in trafficking victims from 3, 946 in 2018 to 5,145 in 2019.

Global Passport Reader Market Regional Synopsis

Regionally, the global passport reader market is studied in five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2031 on the back of development in advanced products such as combo readers and others, growing adoption of biometric passports in the region, an increase in the number of airports and border security, and an increase in the number of migrants. According to the Asia Pacific Migration Report 2020, the number of international migrants has grown from 52 million in 1990 to 65 million in 2019 out of which 51 percent is male and 49 percent is female.

Market Segmentation

Our in-depth analysis of the global passport reader market includes the following segments:

Key Companies Dominating the Global Passport Reader Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global passport reader market that are included in our report are ACCESS CO., LTD, Adaptive Recognition Inc., Regula Forensics Inc., Beijing Wintone Science & Technology Co. Ltd., DESKO GmbH, IER SAS, 3M, GEMALTO (Thales), Veridos GmbH, Shenzhen Rakinda Technology Co., Ltd, and others.

Global Passport Reader Market: Latest Developments

• February, 2022- Regula Forensics Inc., launched their latest version of Document Reader SDK. Version 6.1 that contains several changes and necessary fixes, along with an updated database of document templates.

• May, 2019- DESKO GmbH and Latin ID announced a solution for preventing fraud due to identity theft that is based on verifying the authenticity of official IDs as well as capturing the customers' biometrics. This solution has been implemented in 1,852 registration points throughout Mexico. This allows them to create "Unique Identities" for each user.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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