Global Barcode Passport Reader Market – Industry Trends and Forecast to 2029

Global Barcode Passport Reader Market, By Reader Type (Swipe Readers, Self-Service Kiosk, Compact Full-Page Reader and Others), Application (Airport Security, Boarder Control and Others), Sector Outlook (Public and Private) – Industry Trends and Forecast to 2029.

Barcode Passport Reader Market Analysis and Size

Over the forecast period, the market is expected to grow due to an increase in immigrants and the growing adoption of e-passports. Furthermore, technological advancements such as optical character recognition (OCR), which converts images of typed or printed text into machine-encoded text from a document photo, a scanned document, or a scene-photo, are expected to drive demand for a passport reader.

Data Bridge Market Research analyses that the barcode passport reader market which was growing at a value of 256.01 million in 2021 and is expected to reach the value of USD 581.53 million by 2029, at a CAGR of 10.80% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Barcode Passport Reader Market Scope and Segmentation

Market Definition

The electronic device used to read the e-passport is known as a barcode passport reader. E-passports are in high demand for passport readers in hotels, security checks for car rental services, and many other places. Biometric passports are basic passports with a microprocessor chip embedded in them. Microprocessor chips are used to reveal the passport owner's information.

Global Barcode Passport Reader Market Dynamics

Drivers

• High growth in immigration process

The rate of immigration growth is a key driver of the passport reader market. Passport and document verification is a critical step in the immigration process. Immigration rates are increasing for a variety of reasons, including job opportunities. Immigration is expected to more than double. It will result in increased investment in security devices. Document authentication, in particular, will be a critical procedure. Many countries will increase their market investment. Due to this critical driver, overall adoption of passport readers is expected to skyrocket.

• Rising cases of passport forgery and fake passports

Passport authentication is becoming increasingly important. The number of fake passport cases has increased dramatically over the last decade. Passport forgery is a serious crime in many areas. Many people are involved in illegal activities by using fake passports. Passport readers are widely used to prevent passport fraud. This device is used in immigration offices, airports, border crossings, and hotels. Passport forgery can pose a threat to national security. Terrorism is on the rise as a result of these crimes. All of these factors will help to boost barcode passport reader profit. Due to the barcode passport reader widespread adoption, revenue rates will skyrocket.

Opportunity

The increasing use of e-passports will create more opportunities for growth. It will result in further growth of the passport reader market. Furthermore, government initiatives to improve security will broaden the scope. Technology advancement will result in innovation. High-end passport verification features can have a positive impact on the market. All of these expansion opportunities will benefit the barcode passport reader market.

Restraints

However, technical issues such as clandestine scanning, biometric feature leakage, and eavesdropping will act as a restraint, further challenging the growth of the in the above-mentioned barcode passport reader market forecast period.

This barcode passport reader market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the barcode passport reader market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Barcode Passport Reader Market

Tourism is one of the industries that heavily relies on aviation. Air transport promotes economic growth and alleviates poverty by facilitating tourism. Every year, 1.4 billion tourists cross borders, with more than half of them flying to their destinations. According to the International Civil Aviation Organization, the COVID 19 outbreak is expected to result in a global reduction of 1,878 to 3,227 million air passengers in 2020. Furthermore, due to travel restrictions, international tourism is expected to decline from US$ 910 to 1,170 billion in 2020, compared to US$ 1.5 trillion in 2019. These statistics are expected to reduce the adoption of passport readers across application areas, slowing the growth of passport readers.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Barcode Passport Reader Market Scope

The barcode passport reader market is segmented on the basis of reader type, sector outlook and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Reader Type

• Swipe Readers
• Self-Service Kiosk
• Compact Full-Page Reader
• Others

Application

• Airport Security
• Boarder Control
• Others

Sector outlook

• Public
• Private

Barcode Passport Reader Market Regional Analysis/Insights

The barcode passport reader market is analysed and market size insights and trends are provided by country, reader type, sector outlook and application as referenced above.

The countries covered in the Barcode Passport Reader market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominated the market in terms of revenue because of the growing number of air passengers. The increasing use of e-passports in hotels, airport terminals, immigration points, and other locations is driving up demand for passport readers in the region.

Asia-Pacific is expected to have the highest CAGR over the forecast period,. Due to the presence of several manufacturers and the development of advanced products such as self-service kiosks, combo readers, and so on, countries such as China and India are expected to generate significant revenue over the next six years.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Barcode Passport Reader Market Share Analysis

The barcode passport reader market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to barcode passport reader market.

Some of the major players operating in the barcode passport reader market are:

• IDAC Solutions (P) Ltd India (India)
• IER (France)
• Lintech Enterprises Limited. (China)
• Regula (Italy)
• 3M (U.S)
• ACCESS CO., LTD. (Japan)
• Adaptive Recognition Inc. (Hungary)
• Bejing Wintone Science & technology Co. Ltd., (China)
• DESKO GmbH (Germany)
• Thales (France)
• Shenzhen Rakinda Technologies Co., Ltd (China)
• Veridos GmbH (Germany)