Use of Mobile Passport Scanners
Border control requirements are exceptionally diverse, with certain borders fixed in airports or posts on roads, and several border control measures take place in a mobile manner on ships, trains or by monitoring pedestrians. It outstretched the requisite for an integrated portable reader capable of completing all measures of immigration procedures, such as reading varied ID documents, obtaining biometrics, and connecting to remote databases.
Additionally, passport checks are an essential security measure for several businesses and institutions. In some instances, a passport is the most appropriate document to collect necessary customer information. Also, in some cases, passports are mandatory by law, and the collected data must be shared with local authorities. As manual checking of passports is a tedious task in some businesses, they prefer using dedicated passport readers. In such cases, mobile passport scanning integrated with Mobile optical character recognition (OCR) is an ideal alternative. Thus, use of mobile passport scanners is emerging as a trend for the passport reader market growth.
Market Overview
The aviation sector in Latin America is witnessing a constant growth in terms of passenger volume, which increased to 28.7 million passengers until July 2019, 4.5% up from 2018. It is projected that the airport sector in the Latin American region should invest ~US$ 55 billion by 2040. These investments will emphasize on airport infrastructure, including the expansion, renovation, and modernization of existing facilities, as well as the construction of new airports. Also, Colombia is ranked 4th in the world in terms of forecast of the air sector growth over the next 20 years. The country’s airport sector is projected to contribute significantly to the connectivity improvement. As per a CEPAL’s report, the Latin American region requires a total investment of US$ 25.5 billion during 2016–2025 to fill the capacity gap in airport infrastructure. To meet this challenge, governments, as well as air infrastructure concessionaires, are focusing on making significant airport investments. However, the lack of investments in airport infrastructure is restricting the growth of the market across South America.
South America Passport Reader Market Revenue and Forecast to 2028 (US$ Million)
South America Passport Reader Market Segmentation
The South America passport reader market is segmented based on technology, type, application, sector, and country. Based on technology, the South America 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 South America 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 South America 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 South America passport reader market is bifurcated into private and public. The public segment held a larger market share in 2022.
Based on country, the South America passport reader market is segmented into Brazil, Argentina, and the Rest of South America. Brazil dominated the market share in 2022.
Adaptive Recognition Hungary, Inc.; Thales Group; Access Ltd; Shenzhen Rakinda Technologies Co., Ltd.; Regula; Veridos GMBH; and Lintech Enterprises Limited are the leading companies operating in the South America passport reader market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 19.72 Million |
| Market Size by 2028 | US$ 24.12 Million |
| CAGR (2022 - 2028) | 3.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Passport Reader Market is valued at US$ 19.72 Million in 2022, it is projected to reach US$ 24.12 Million by 2028.
As per our report South America Passport Reader Market, the market size is valued at US$ 19.72 Million in 2022, projecting it to reach US$ 24.12 Million by 2028. This translates to a CAGR of approximately 3.4% during the forecast period.
The South America 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 South America Passport Reader Market report:
The South America Passport Reader Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Passport Reader Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Passport Reader Market value chain can benefit from the information contained in a comprehensive market report.
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