Global Radio Frequency Identification (RFID) Passport Reader Market, By Type (Compact Full Page Reader, Self-Service Kiosk, Swipe Readers, Others), Application (Airport Security, Border Control, Others), Sector (Public, Private) – Industry Trends and Forecast to 2029.
Radio Frequency Identification (RFID) 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. Technological advancements such as Optical Character Recognition (OCR), which is used to convert images of typed or printed text into the 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 radio frequency identification (RFID) passport reader market which was growing at a value of 264.57 million in 2021 and is expected to reach the value of USD 645.77 million by 2029, at a CAGR of 11.80% 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.
Radio Frequency Identification (RFID) Passport Reader Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Compact Full Page Reader, Self-Service Kiosk, Swipe Readers, Others), Application (Airport Security, Border Control, Others), Sector (Public, Private),
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Countries Covered
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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
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Market Players Covered
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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)
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Opportunities
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Market Definition
RFID is a type of wireless communication used to uniquely identify an object, animal, or person. E-passports are in high demand for hotel passport readers, 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 Radio Frequency Identification (RFID) Passport Reader Market Dynamics
Drivers
- Growth in visa and immigration services
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.
- Growing 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. These factors will help boost radio frequency identification (RFID) passport reader market growth.
Opportunities
- High prevalence of E-passports
The increasing use of e-passports will create more growth opportunities. It will result in further growth of the passport reader market.
- Technological Advancement
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. These expansion opportunities will benefit the Radio Frequency Identification (RFID) passport reader market.
Restraints
- Technical Issues
However, technical issues such as clandestine scanning, biometric feature leakage, and eavesdropping will act as a restraint, further challenging the growth of the above-mentioned radio frequency identification (RFID) passport reader market forecast period.
This radio frequency identification (RFID) 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 radio frequency identification (RFID) 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 Radio Frequency Identification (RFID) Passport Reader Market
Tourism is one of the industries that heavily rely 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 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 Radio Frequency Identification (RFID) Passport Reader Market Scope
The radio frequency identification (RFID) passport reader market is segmented on the basis of type, application and sector. 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.
Type
- Compact Full Page Reader
- Self-Service Kiosk
- Swipe Readers
- Others
Application
- Airport Security
- Boarder Control
- Others
Sector
- Public
- Private
Radio Frequency Identification (RFID) Passport Reader Market Regional Analysis/Insights
The radio frequency identification (RFID) passport reader market is analyzed and market size insights and trends are provided by country, type, application and sector as referenced above.
The countries covered in the radio frequency identification (RFID) 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 Radio Frequency Identification (RFID) Passport Reader Market Share Analysis
The radio frequency identification (RFID) 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 radio frequency identification (RFID) passport reader market.
Some of the major players operating in the radio frequency identification (RFID) 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)
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