Global Passport Reader Market Analysis 2024: A US$501.30 Million Market by 2029, Registering a Forecasted CAGR of 8.18% During 2024-2029 - ResearchAndMarkets.com
The global passport reader market value stood at US$321.02 million in 2023 and is expected to reach US$501.30 million by 2029.
- The global passport reader market value stood at US$321.02 million in 2023 and is expected to reach US$501.30 million by 2029.
- The market further thrives on the escalating numbers of international immigrants and the widespread adoption of passport readers in the banking sector.
- The market's upward trajectory is sustained by these diverse growth drivers, reflecting a robust demand for passport reader technology worldwide.
- The Compact Full-page Passport Reader, utilizing advanced OCR technology, efficiently extracts information from entire passport pages, contributing to global passport reader market growth by enhancing security and streamlining immigration processes.