Passport Reader Market is expected to reach US$ 310.17 million by 2028

PRESS RELEASE BY The Insight Partners 05 Jan 2023

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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.

North America held the largest passport reader market share in 2022 and the US dominated the region in the same year. The passport reader market growth in the US is majorly attributed to the adoption of technologically advanced border-securing technologies by the Department of Homeland Security (DHS), including passport readers. The country has a significantly high number of airports, which regularly cater to a noteworthy number of international passengers (both arrival and departure). This factor has led airport authorities and security authorities to implement and deploy advanced passport-reading technologies to safeguard the country from illegal immigrants. In February 2020, the US TSA deployed a new credential authentication technology (CTA) at Boston Logan International Airport. The technology enables verification of traveler ID and confirms their flight information in near real-time, thus, boosting security concerning the use of fake documents. A CAT scanner can verify nearly 2,500 different types of ID, including passports, as it is integrated with a passport reader. TSA has installed new credential authentication technology at the Boston Logan International Airport (BOS). The growing number of passports issued by government officials is likely to augment the demand for international travel and increase the deployment of a larger number of passport reader systems across the countries such as the US, Canada, and Mexico. For instance, in 2022, the overall number of passports issued by the government of the US is estimated to be ~21.9 million compared to 15.5 million passports in 2021. This is leading to a rise in international travel from the US, further fueling the demand for passport verification. This, in turn, will drive the demand for passport readers across North America and henceforth fueling the passport reader market.

Impact of COVID-19 Pandemic on Global Passport Reader Market

Tourism is one of the industries relying heavily on aviation. By facilitating tourism, air transport helps generate economic growth and alleviate poverty. ~1.4 billion tourists’ cross borders every year, and over half of them travel to their destinations by air. According to ICAO, the global passenger traffic got recovered modestly in 2021. The global passengers count was 2.3 billion (49% less pre-pandemic (2019) levels) and 60% more as compared to 2020. The decline in air passenger traffic negatively impacted the passport reader market adversely.

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.

The passport reader market is highly fragmented, with the presence of several key players present at global, regional, and country level. These passport reader market players include 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.

Passport Reader Market Breakdown – by Region, 2022

Passport Reader Market Breakdown – by Region, 2022

Passport Reader Market Size & Trends Report | 2028

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Passport Reader Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (RFID, Barcode, and OCR), Type (Swipe Readers, Self-Service Kiosks, Compact Full-Page Readers, and Portable Readers), Application (Airport Security, Border Control, and Other Applications), and Sector (Public and Private)

Source: The Insight Partners Analysis

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.

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