Market Research Report
Europe Passport Reader Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology ; Type ; Application ; Sector ; and Country
|Europe Passport Reader Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology ; Type ; Application ; Sector ; and Country|
Published: July 14, 2020
The Insight Partners
Content info: 87 Pages
Delivery time: 1-2 business days
The Europe passport reader market was valued at US$ 39.40 million in 2019 and is projected to reach US$ 71.82 million by 2027; it is expected to grow at a CAGR of 8.2% from 2020 to 2027. The optical character recognition (OCR) is used for the alteration of images of typed or printed text from a photo of a document, scanned document, or scene-photo into machine-encoded text, and such technological upgrades are also likely to increase the demand for a passport readers in Europe.
At airports, passport readers are needed to shorten operational time and check-in queues as well as for the error-free recording of information; these benefits drive the Europe passport reader market growth. The necessity to authenticate passports at airport check-in points, border security, immigration points, and hotels is also likely to boost the market growth during the forecast period. The rise in the extent of cross-border travel and increase in terrorism activities are further boosting the sales of passport readers in this region.
The overall Europe passport reader market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the passport reader market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe Passport reader market. Thales Group and Access Ltd, among others, are the key players serving the passport reader market in Europe.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe Passport reader market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Europe Passport reader market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution