Yahoo Finance 
The Worldwide Passport Reader Industry is Expected to Reach $426.5 Million by 2028 at a 10.7% CAGR
Global Passport Reader Market
Dublin, Jan. 26, 2023 (GLOBE NEWSWIRE) -- The "Global Passport Reader Market Size, Share & Industry Trends Analysis Report by Technology, Type (Swipe Readers, Self-Service Kiosk, Compact Full-Page Reader, and Others), Application, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Passport Reader Market size is expected to reach $426.5 million by 2028, rising at a market growth of 10.7% CAGR during the forecast period.
A passport reader or passport scanner isa camera specialized imaging equipment that captures images of the supplied identity documents. In contrast to a conventional camera, a passport scanner employs specialized illuminations when scanning the document. In addition to visible white light, it also has infrared and ultraviolet light sources.
The photos captured under these lighting conditions are utilized for particular image processing activities, mostly for data reading and verification. The chip in the e-passport provides additional security measures. The security measures will allow the system to detect any attempts to tamper with the chip. In addition, it cannot be altered, and abuse of the passport is prevented.
A biometric passport (also called an e-passport, ePassport, or digital passport) is a regular passport with an implanted electronic microprocessor chip that includes biometric information that may be used to validate the passport holder's identity. It employs contactless smart card technology, which includes a microprocessor chip (computer chip) and antenna (for both power to the chip and communication) that are integrated into the front or rear cover or center page of the passport.
The passport's vital information is printed on the datasheet, repeated on the machine-readable lines, and saved in the chip. Public key infrastructure (PKI) is used to authenticate the data contained electronically in the passport chip, making it costly and impossible to fake provided all security methods are implemented appropriately.
COVID-19 Impact Analysis
The emergence of COVID-19 is resulting in increased financial losses across a variety of businesses throughout the world. As a result of the pandemic, the market for passport readers has also been negatively impacted. There is a general tightening of travel restrictions.
The authorization to travel for tourism and business is revoked. These preventative measures are implemented in several different areas to halt the propagation of illness. Moving around the territory for necessary reasons such as an emergency is permitted in certain areas.
Market Growth Factors
Immigration Expansion For Passport Readers
Passport and document verification are vital steps in the immigration process. Immigration rates are increasing for a variety of motives, including employment prospects. It is anticipated that the immigration rate would double. It will result in increased spending on security devices. In particular, the authentication of papers will be a crucial operation. Many nations will increase their market investment. The widespread usage of passport readers is anticipated to increase as a result of this key factor.
Increasing e-passport usage will create new growth prospects.
Verification of actual passports can be time-consuming. Passport readers make the evaluation of e-passports quick and precise. In several places, e-passports are widely adopted. Increased usage of these passports will result in market shifts for passport readers. The market for innovations in validating digital documents will expand rapidly. It will result in further market expansion for passport readers. In addition, government measures to strengthen security will expand the available options.
Marketing Restraining Factor
Lack Of Technical Knowledge And Expensive Device
Airport security is of the utmost importance, and any negligence might result in security risks. Using e-gates at airports guarantees a high level of passenger safety. To maintain a high-performance security infrastructure, however, a group of well-trained specialists is necessary; nevertheless, experienced people are scarce for maintaining security infrastructure, which is driving a trend toward cloud computing and virtualization.
Report Attribute | Details |
No. of Pages | 234 |
Forecast Period | 2021 - 2028 |
Estimated Market Value (USD) in 2021 | $214 Million |
Forecasted Market Value (USD) by 2028 | $427 Million |
Compound Annual Growth Rate | 10.7% |
Regions Covered | Global |
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Passport Reader Market by Technology
3.1 Global RFID Market by Region
3.2 Global Barcode Market by Region
3.3 Global OCR Market by Region
Chapter 4. Global Passport Reader Market by Type
4.1 Global Swipe Readers Market by Region
4.2 Global Self-Service Kiosk Market by Region
4.3 Global Compact Full-Page Reader Market by Region
4.4 Global Others Market by Region
Chapter 5. Global Passport Reader Market by Application
5.1 Global Airport Security Market by Region
5.2 Global Border Control Market by Region
5.3 Global Others Market by Region
Chapter 6. Global Passport Reader Market by Sector
6.1 Global Public Market by Region
6.2 Global Private Market by Region
Chapter 7. Global Passport Reader Market by Region
Chapter 8. Company Profiles
8.1 Thales Group S.A. (Gemalto NV)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research and Development Expense
8.2 3M Company
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 SWOT Analysis
8.3 Adaptive Recognition Inc.
8.3.1 Company Overview
8.4 IER Group
8.4.1 Company Overview
8.5 The Access Group
8.5.1 Company Overview
8.6 Beijing Wintone Science & technology Co. Ltd.
8.6.1 Company Overview
8.7 DESKO GmbH
8.7.1 Company Overview
8.7.2 Recent Strategies and Developments
8.7.2.1 Product Launches and Product Expansions
8.8 IDAC Solutions Pvt. Ltd.
8.8.1 Company Overview
8.9 Regula Forensics
8.9.1 Company Overview
8.9.2 Recent Strategies and Developments
8.9.2.1 Partnerships, Collaborations, and Agreements
8.9.2.2 Product Launches and Product Expansions
For more information about this report visit https://www.researchandmarkets.com/r/xxdn2s-passport?w=12
Attachment
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
