The passport reader market is projected to witness moderate growth in Asia-Pacific during the forecast period. A few of the key factors bolstering the growth of the market include surging immigrant population, rising e-passport adoption, and increasing international air passenger traffic in the region. Moreover, advancement in technologies such as OCR (Optical Character Recognition) is expected to boost the demand for passport readers in Asia-Pacific in the coming years.
The Asia Pacific Passport Reader market is growing along with the Electronics and Semiconductor industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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Market Overview and Dynamics
The Asia-Pacific passport reader market is projected to reach US$ 116.77 million by 2027 from US$ 57.07 million in 2019; it is expected to grow at a CAGR of 9.8% from 2020 to 2027. The rise in number of outbound tourists, and surge in airport construction and expansion projects have been the key factors fueling the market growth in this region.
Key Market Segments
In terms of technology, the RFID segment accounted for the largest share of the Asia-Pacific passport reader market in 2019. The swipe readers segment held the largest share of themarket, based on type, in 2019. By application, airport security accounted for the greatest share of the Asia-Pacific passport reader market in 2019. Further, based on sector, public sector accounted for a larger market share in 2019.
These factors are expected to offer broad growth opportunities in the Electronics and Semiconductor industry and this is expected to cause the demand for Asia Pacific Passport Reader in the market.
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ASIA-PACIFIC PASSPORT READERMARKET SEGMENTATION
Asia-Pacific Passport Reader Market,by Technology
Asia-Pacific Passport Reader Market, by Type
- Swipe Readers
- Self-Service Kiosks
- Compact Full-Page Readers
- Portable Readers
Asia-Pacific Passport Reader Market, by Application
- Airport Security
- Border Control
Asia-Pacific Passport Reader Market, by Sector
- South Korea
- Rest of APAC
- Adaptive Recognition Hungary, Inc.
- Thales Group
- Access Ltd
- BejingWintone Science & Technology Co. Ltd
- DESKO GmbH
- IER SAS
- Shenzhen Rakinda Technologies Co., Ltd.
- Veridos GmbH
- Lintech Enterprises Limited
A few major primary and secondary sources referred to for preparing this report on the passport reader market in Asia-Pacific are company websites, annual reports, financial reports, national government documents, and statistical database. The major companies listed in the report are Thales Group, Access Ltd, DESKO GmbH, IER SAS, and Lintech Enterprise Limited, among others.
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