Rising Construction and Expansion Activities of New Airports Across the Region
According to International Air Transport Association (IATA), the number of global air passengers is expected to reach 8.2 billion annually by 2037. It has stirred a need for the expansion of existing airports and the construction of new airports across the region. Several countries have intensively focused on the development of their airport infrastructure. As per CAPA, ~313 individual projects are under construction in Europe, including Russia. These include 42 new airports that are being constructed or planned in the region. The most expensive airport project that entered the execution phase in 2021 is Domodedovo International Airport Expansion, Russia (US$ 3.2 billion): The expansion of Domodedovo International Airport in Moscow, Russia, will ease air traffic congestion and enhance the airport’s annual capacity from 30 million to 35 million passengers. This project aims to establish the airport as a major international and multi-modal transportation hub and create a larger space for the check-in area and departure gates.
Thus, such growth in the construction and expansion of airports will further increase the adoption of passport readers for security systems, which is anticipated to boost the passport reader market growth.
Europe Passport Reader Market Overview
Europe constitutes several countries boasting rich geographical features, as well as heritage such as mountains, rivers, historical monuments, landmark sites, and cultural monuments, resulting in massive number of international tourists throughout the year. Countries such as Norway, Sweden, Italy, Germany, Greece, France, and Ireland attract notable number of international tourists from various other countries across the year. Presently, Europe homes some of the world’s biggest and busiest international airports in the UK, France, Germany, and Italy attracting notable number of international passengers daily. As a result, the government and airport security agencies utilize the application of different technologies, including passport readers, to ensure the seamless functioning and security of airport facilities throughout the region.
Europe Passport Reader Market Revenue and Forecast to 2028 (US$ Million)
Europe Passport Reader Market Segmentation
The Europe passport reader market is segmented on the basis of technology, type, application, sector, and country. Based on technology, the Europe passport reader market is segmented into RFID, barcode, and OCR. The RFID cylinders segment held the largest market share in 2022.
Based on type, the Europe passport reader market is segmented into swipe readers, self-service kiosks, compact full-page readers, and portable readers. The compact full-page readers segment held the largest market share in 2022.
Based on application, the Europe passport reader market is segmented into airport security, border control, and others. The airport security segment held the largest market share in 2022.
Based on sector, the Europe passport reader market is bifurcated into private and public. The public segment held a larger market share in 2022.
Based on country, the Europe passport reader market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. The UK dominated the market share in 2022.
Adaptive Recognition Hungary, Inc.; Thales Group; Access Ltd; Beijing Wintone Science & Technology Co. Ltd; Desko GmbH; IER SAS; Shenzhen Rakinda Technologies Co., Ltd.; Regula; Veridos GMBH; and Lintech Enterprises Limited are the leading companies operating in the Europe passport reader market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 40.49 Million |
| Market Size by 2028 | US$ 60.96 Million |
| CAGR (2022 - 2028) | 7.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Passport Reader Market is valued at US$ 40.49 Million in 2022, it is projected to reach US$ 60.96 Million by 2028.
As per our report Europe Passport Reader Market, the market size is valued at US$ 40.49 Million in 2022, projecting it to reach US$ 60.96 Million by 2028. This translates to a CAGR of approximately 7.1% during the forecast period.
The Europe Passport Reader Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Passport Reader Market report:
The Europe Passport Reader Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Passport Reader Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Passport Reader Market value chain can benefit from the information contained in a comprehensive market report.
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