Market Overview
The global passport reader market is anticipated to witness moderate growth over the forecast period, as per the most recent MRFR report. Such growth can be accredited to the mushrooming immigrants, mounting need for authentication of passports and an ascending adoption of e-passports. However, high cost of implementation and technical issues are anticipated to restrict the growth of the passport reader market. the global passport reader market is anticipated to reach a market valuation of USD 279.50 million by 2023, at 8.67% CAGR by 2023.
Passport forgery has risen in the past couple of years, which has led to threatened national security. The US Department of State has recently deployed special agents for the identification of fake passports and to coordinate with more than 160 countries for the purpose of investigation. Under this ongoing investigation, thousands of cases have already been found which are related to passport forgery, globally. Moreover, the border control authorities have adopted passport readers, to test the originality of document, driving the global passport reader market.
Additionally, the upcoming e-passports have provided help in the eradication of forgery of such documents by holding a chip where the data of the traveler is stored and can be read at any time of check-in. This, is expected to help in the prevention of unlawful activities of producing fake documents. Such rising e-passports adoption has supplemented the demand for passport readers at hotels, airport terminals, as well as car rental services. Such e-passports reduce the waiting time and also benefit the users, along with maintaining the security of the nation.
Request Free Sample copy of Report @ https://www.marketresearchfuture.com/sample_request/5929
Market Segmentation
The global passport reader market has been segmented in the report for a clearer perspective on the landscape. Such segmentation has been carried out by application, type, technology, sector, and region. By technology, the passport reader market is segmented into RFID, OCR, and Barcode. By type, the market is segmented into self-service kiosk, swipe readers, and compact full-page reader. By application, the global passport reader market is segmented into border control and airport security. By sector, the passport reader market has been studied for the segments of private, public, and government.
Key Players
Some prominent players in the global passport reader market, as profiled by Market Research Future (MRFR) in its latest report, include 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.
Detailed Regional Analysis
The global Passport Reader Market is segmented into the regions of North America, Asia Pacific, Europe, and Rest of the World. North America’s passport reader market is studied for the sub-segments of the US, Canada, and Mexico. Europe has been studied for the sub-segments of France, the UK, Spain, Germany, Italy, and Rest of Europe. Asia Pacific is also sub-segmented into South Korea, India, China, Japan, Australia, Singapore, Malaysia, Taiwan, Thailand, and Rest of Asia Pacific.
North America is estimated to hold a dominant share of the global passport reader market during the forecast period. This can be accredited to the usage of e-passports and rising number of air passengers who are travelling internationally. Hence, airport and border control officials have started a deployment of passport readers to maintain a smooth flow of passengers.
Asia Pacific is also expected to witness fast-paced ascension in the passport readers market. This is because Asia Pacific is the hub of semiconductors, which in turn has led to many vital market vendors and manufacturers of passport readers in the region. Asia Pacific is witnessing the fastest growth in the global passport reader market.
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)
Continued……
Check Discount @ https://www.marketresearchfuture.com/check-discount/5929
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
Continued…….
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/passport-reader-market-5929