Global Passport Reader Market Growth 2023-2029

Global Passport Reader Market Growth 2023-2029

A biometric passport is a traditional passport that has an embedded electronic microprocessor chip which contains biometric information that can be used to authenticate the identity of the passport holder. It uses contactless smart card technology, including a microprocessor chip (computer chip) and antenna (for both power to the chip and communication) embedded in the front or back cover, or center page, of the passport. The passport's critical information is both printed on the data page of the passport and stored in the chip.

LPI (LP Information)' newest research report, the “Passport Reader Industry Forecast” looks at past sales and reviews total world Passport Reader sales in 2022, providing a comprehensive analysis by region and market sector of projected Passport Reader sales for 2023 through 2029. With Passport Reader sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Passport Reader industry.

This Insight Report provides a comprehensive analysis of the global Passport Reader landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Passport Reader portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Passport Reader market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Passport Reader and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Passport Reader.

The global Passport Reader market size is projected to grow from US$ 159.3 million in 2022 to US$ 225.4 million in 2029; it is expected to grow at a CAGR of 225.4 from 2023 to 2029.

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.

This report presents a comprehensive overview, market shares, and growth opportunities of Passport Reader market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
RFID
Barcode
OCR

Segmentation by application
Airport Security
Border Control
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Gemalto
3M
ARH Inc
Access Limited
Regula Forensics
China-Vision
Desko
OT-Morpho
Prehkeytec
IDAC Solutions
DILETTA
Grabba
BioID Technologies
Wintone

Key Questions Addressed in this Report

What is the 10-year outlook for the global Passport Reader market?

What factors are driving Passport Reader market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Passport Reader market opportunities vary by end market size?

How does Passport Reader break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.