Passport Reader Market PEST Analysis with 7.7% of CAGR by 2027 – Access, ARH, DESKO, Thales Group, IER SAS, Regula Forensics

This factor has led the airport authorities and security authorities to implement and deploy advanced passport reading technologies, to safeguard the country from illegal immigrants. Further, the rising deployments of passport readers among hotels, banks, and travel agencies are boosting the growth of passport reader market.

The global passport reader market was dominated by North America in 2019; further, the US dominated the market in North America in the same year. The growth of the market in this country is majorly attributed to the adoption of technologically advanced border securing technologies by the Department of Homeland Security (DHS), including passport readers. The country has significantly high number of airports, which regularly cater to noteworthy number of international passengers (both arrival and departure).

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Key Players Influencing the Market: Access Ltd, ARH Inc., Beijing Wintone Science & Technology Co., Ltd., DESKO GmbH, Thales Group, IER SAS, Regula Forensics Inc., Shenzhen Rakinda Technology Co., Ltd., Lintech Enterprises Limited, and Veridos GmbH.
 
The international tourism industry is growing at an exponential rate. According to the World Tourism Organization (UNTWO), there were ~1.4 billion international tourist arrivals across the world, signifying an increase of 6% from 2017. Also, it was worth ~US$ 1.7 trillion, i.e., ~2% of the total world GDP. With the rising number of international tourists, airports worldwide are deploying an additional level of security and expanding the number of gates to handle air passenger traffic. For instance, in 2019, Panasonic Corporation installed additional automated facial recognition gates at multiple airports in Japan. 
 
Besides this, the report analyses factors affecting Passport Reader market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions considered in the Global Passport Reader Market report.

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Answers that the report acknowledges: 

• Market size and growth rate during forecast period.
• Key factors driving the Passport Reader Market.
• Key market trends cracking up the growth of the Passport Reader Market.
• Challenges to market growth.
• Key vendors of Passport Reader Market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Passport Reader Market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.

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