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Passport Reader market: Market Drivers, Restraints And Opportunities-2018 To 2023

Press Release
Kenneth Research
Kenneth Research

Passport Reader Market Information: By Technology (RFID, Barcode, OCR), Type (Compact Full Page Reader, Self-Service Kiosk, Swipe Readers), Application (Airport Security, Border Control), Sector (Public, Private) and Region – Global Forecast till 2023In the last few years, Passport forgery cases have increased exceedingly, which threatens national security. The U.S. Bureau of State’s law implementation arm and Diplomatic Security (DS) Service have sent agents for recognizing counterfeit passports and furthermore to coordinate with more than 160 nations for the purpose of investigation. A number of cases were discovered producing fake passports on a worldwide scale. However, the upcoming e-passports are annihilating the fraud of the archives by holding a chip in which the information of the traveler is put away and can be perused at the check-in time. This type of security features would help in averting unlawful exercises of creating counterfeit passports. The Global Passport Reader Market is projected to grow at a CAGR of 8.67% during the forecast period (2017-2023).

Source of information-https://www.marketwatch.com/press-release/passport-reader-market-market-drivers-restraints-and-opportunities-2018-to-2023-2019-05-17

The global passport reader market is anticipated to observe moderate growth during the prediction period with the increasing number of immigrants, a growing requirement for passport authentication, along with the rising adoption of the e-passports. Nevertheless, the high implementation cost and other technical issues are the factors that are expected to restrain the growth of the global passport reader market.

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Market Segmentation
The global passport reader market is divided on the basis of its technology, application, type, sector, and regional demand. Based on its technology, the market is divided into RFID, OCR, Barcode, and other. On the basis of its application segment, the global market is classified as border control, airport security, and others. By its type, the market is bifurcated into the self-service kiosk, swipe readers, compact full-page reader, and others. Based on its sector, the market is sectioned into government, public, and private.

Regional Analysis
Geographically, the global passport reader market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.

Key Players
Some of the major industry players in the global passport reader market include companies like Gemalto N.V, Lintech Enterprises Limited, Access Limited, ARH INC, Regula Forensics Inc., DESKO GmbH, Beijing Wintone Science Technology, IER Inc., and IDAC Solutions Pvt. Ltd among others.

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