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Global Passport Reader Market to Grow at Promising 11.2% CAGR during 2021-2029 – A Report by Absolute Market Insights

Published On 11 Sep 2021 11:01 AM


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The global passport reader market reached a robust valuation of US$ 249.02 Mn in 2020. The market will exhibit strong growth, rising at 11.2% CAGR during the forecast (2021-2029) period, as the same has its applications in land borders, sea borders, and airports since the 1990s. In recent years, it has been reported that passport reader is used in border control system to assist human expertise with smart technology.

Rising application of passport readers in hotels or other commercial applications

The Pacific Beach Hotel initially installed the ID/Passport scanners to add a layer of protection against fraudulent activities. Having the identities scanned into the concerned system helped in verifying identities and reducing exposure with respect to credit card disputes. The ease of data collection is also one of the factors that have aided the organization to instill such systems in their property. Such factors is has assisted the overall market in the recent years and is expected to drive the global market over the forecast period. The Empire Hotel Group has an existing relationship with TTI Technologies, one of the providers of passport scanner solution for automated business center. The Empire Hotel Group bought TTI’s Scan2PMS solution and was impressed with the functionality and its ease of operation. The installation was performed in a timely manner without interrupting the front desk personnel. The hotel has installed Scan2PMS in two other hotels and is planning to install more to their rest of the properties in the near future.

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Standalone segment is expected to witness the highest growth over the forecast period

The main goal during the development of PR501 Portable Passport Reader was to create a stand-alone, mobile and fully functional full page image capturing and processing device, thus making the use of additional desktop, personal computers or laptops unnecessary. The PR 501 has all the advantages of the CLR desktop readers i.e., true-colour images taken with either normal, IR and UV light; high resolution; fast image-taking and processing. The PR 501 uses the new version of the ARH's reliable OCR (Optical Character Recognition). The image-taking and reading process takes less than 3 seconds. Even the smallest patterns and security marks are visible of the documents. With it a high degree of forgery identification is possible, for every kind of personal document, such as Passports, Visas, ID's, Driving licenses, or even banknotes. With a built-in industrial computer and touch screen, there is no need for any additional hardware elements. Although it's a stand-alone device, the usual computer peripheries, such as mouse, keyboard, communication and USB devices are available with it. This device guarantees reliable performance and continuous workflow. The built in batteries offers up to three hours autonomy if no external power is available. Passport Reader PR 501 is delivered with an easy-to-use API supporting C/C++, Visual Basic, Delphi and Java environments on Windows platforms. Using this functions library, custom-tailored end-user applications can easily be developed thus meeting special user requirements. Its structure, the optical characteristics, the built-in industrial computer and the comprehensive functions library make the PR 501 a considerable solution for any application where mobility, high quality, fast and reliable document verification, robust and compact construction are a must. As the "flight security" is more and more an important topic, AR Hungary considers this device an ideal solution for airlines, security agencies, mobile patrol unit operation, on-board applications on train, cruisers, sea-liners or immigration offices.

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North America held the largest share in 2020 and is expected to witness the similar trend over the forecast period

The United States reported that 143 million valid US biometric passports were in circulation in 2020. 44% of the US population holds a passport in 2020 compared to 4% in 1990 and 15% in 1997. In 2020, the State Department issued 11.71 million ePassports. The authorities have issued 11,711,945 (and 1,741,527 passport cards) for 2020. Thus, the passport reader industry is expected to witness a lucrative growth over the forecast period and is also gaining traction in emerging economies such as India, China and Brazil.

The Impact of Covid-19 on the Global Passport Reader Market  

As of April 2021, the US Department of State reported significant delays in passport processing times owing to COVID-19 i.e., approximately around 10 to 12 weeks. Expedited passports take about 4 to 6 weeks but cost an extra $60 to process. The COVID-19 outbreak and severe quarantine measures all over the world caused a sharp drop in tourism in 2020. Americans, like the rest of the world, drastically reduced their travel in 2020. The 2017-2018 sharp demand for a new passport was due to the fact that a lot of passports issued in 2007 were up for renewal. The pandemic situation has decline the sales of the overall market in the recent past but the control measures taken to cub the COVID-19 situation will likely surpass the decline on sales and will bring more profits and increase in revenue in the near future, thus driving the growth of passport reader market over the forecast period.

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Passport Reader Market:  

By Components

  • Stand-Alone
  • Integrated

By Technology

  • Optical Character Recognition [OCR]
  • Radio-Frequency Identification [RFID]
  • Barcode
  • Others

By Type

  • Full-Page Reader
  • Half-Page Reader
  • Swipe Reader
  • Others

By Document Format

  • ID-1 Format
  • ID-2 Format
  • ID-3 Format
  • Others

By End Users

  • Border Control Applications & Social Security
  • Police
  • Immigration Services
  • Passport Issuing & VISA Application
  • Government
  • Rental Car Companies
  • Hotels & Casinos
  • Corporates [Employee Vetting]
  • Harbors and Airports
  • Banks
  • Travel Agencies
  • Train/ Bus Terminals
  • Others

By Region:

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Contact Us:

Company: Absolute Markets Insights
Email id: [email protected] 
Phone: +91-740-024-2424
Contact Name: Shreyas Tanna
The Work Lab,Model Colony, Shivajinagar, Pune, MH, 411016
Website: https://www.absolutemarketsinsights.com/


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Press Release Provided By: Absolute Markets Insights