Passport Reader Market to Reach US$ 310.17 Million by 2028

The passport reader market size is expected to reach US$ 310.17 million by 2028; registering at a CAGR of 6.5% from 2022 to 2028, according to a new research study conducted by The Insight Partners

Increasing Number of Outbound Tourists to Bolster Passport Reader Market During Forecast Period

The report highlights key factors driving the market growth and prominent players and their developments in the market.

The international tourism industry is growing at an exponential rate. According to the World Tourism Organization (UNTWO), there were ~1.4 billion international tourist arrivals worldwide, signifying an increase of 6% from 2017. Also, it was worth ~US$ 1.7 trillion, i.e., ~2% of the total world GDP. With the rising number of international tourists, airports worldwide are deploying an additional level of security and expanding the number of gates to handle air passenger traffic. For instance, in 2019, Panasonic Corporation installed additional automated facial recognition gates at multiple airports in Japan. These included 203 units across the country, of which 123 were deployed for foreign nationals. The features of these gates included passport readers. Also, in 2018, the Cairo International Airport deployed Gemalto’s high-speed passport readers to reduce queues and reinforce security checks. The rise in the count of international tourists worldwide is expected to boost the demand for passport readers, and thereby accelerating the passport reader market growth.

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Key Players : Access Ltd; ARH Inc.; Beijing Wintone Science & Technology Co., Ltd.; DESKO GmbH; Thales Group; IER SAS; Regula Forensics Inc.; Shenzhen Rakinda Technology Co., Ltd.; Lintech Enterprises Limited; and Veridos GmbH. Besides, mentioned passport reader market players, many other vendors were analyzed during the study.

The passport reader market size is segmented based on technology, type, application, sector, and geography. Based on type, the passport reader market is segmented into swipe readers, self-service kiosks, compact full-page readers, and portable readers. Based on technology, the passport reader market size is segmented into RFID, barcode, and others. Based on application, the market is categorized into airport security, border control, and other applications. In terms of sector, the passport reader market is segmented into public and private. Based on geography, the passport reader market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

North America is an early adopter of emerging technologies due to favorable government policies to boost innovation. The air travel industry in North America has a potential influence on the country’s economy. Unfortunately, the US was one of the worst-affected countries due to the COVID-19 pandemic, and the crisis led to a cascading impact on air tourism. For instance, the number of outbound tourists from the US fell to 33.5 million in 2020, only one-third of the 2019 figure. Further, international arrivals in the US declined to 29 million in 2021, a decrease of 36% from 2019. Nevertheless, the air travel industry has been improving faster since 2021. For instance, the National Travel and Tourism Strategy 2022 aims to welcome 90 million international visitors annually by 2027 in the US. Therefore, with the relaxation on travel bans, the passport reader market slowly started to recover.

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