ID Reader Market Share, Growth, Trends, Forecast 2027

Market-Research

Global ID Reader Market – Introduction

ID reader is a software solution that enables rapid automatic transfer of textual data from personal and travel documents. ID reader does not store any information; it only transfers the data from the scanner. After scanning the document, an ID reader automatically extracts all the textual data and identifies the document type from the scanned image. An ID reader can easily simplify database creation, ensures business processes automation, higher information accessibility, and fewer mistakes during data input, etc.
An ID reader is generally based on various technologies such as optical character recognition, radio-frequency identification (RFID), and image processing. ID readers easily read all commercial documents such as passports, ID cards, driver license, health cards, as well as special characters (?, Ö, Ü, Š, Ñ, etc.).

Increasing cross-border travels worldwide: Prominent driving factor of the ID reader market

Increasing cross-border travel coupled with the growing number of counterfeit passports is a risk to national security of numerous countries. This is extensively boosting the demand for ID readers. ID readers are mainly used for travel documents such as passports with RFID-based technology, in which the passenger’s data is scanned during check-in, to categorize counterfeit documents. Therefore, increasing cross-border travel worldwide is significantly enhancing the growth of the ID reader market.
According to the UN World Tourism Organization, it is estimated that the percentage of international trips is expected to increase up to more than 1.8 billion over the next 10 years as compared to 1.2 billion trips in 2015.

Security concerns related to RFID technology expected to significantly hamper the ID reader market

RFID-based ID readers are expected to hamper the growth of the market. Major security threats faced by RFID systems include unauthorized access to RFID tags, and cloning & spoofing. Moreover, such unauthorized access could lead to a devastating impact on organizations. Therefore, organizations avoid storing security sensitive information on RFID devices, which is likely to hinder the growth of the ID reader market.
Thus, unauthorized access of tracking technologies is expected to significantly hamper the ID reader market worldwide.

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North America to hold major share of the global ID reader market

In terms of region, the global ID reader market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
North America is anticipated to account for major share of the global ID reader market during the forecast period due to increasing technological advancements such as RFID, and Optical Character Recognition (OCR), indicating potential growth of the ID reader market in this region. Europe is estimated to be the second largest market for ID readers from 2019 to 2027. Growing number of counterfeit passport cases is expected to boost the ID reader market in the region.
Asia Pacific is projected to be a rapidly expanding region of the global ID reader market during the forecast period due to increasing terrorism activities, which is expected to increase the adoption of ID readers in the region.

Global ID Reader Market – Competitive Landscape

In June 2019, Gemalto N.V. (Thales Group) introduced “AT10Ki” an intelligent document reader, specially designed to improved connectivity solutions to enable mobile & cloud apps over Ethernet & Wi-Fi for commercial applications where official papers or documents are essential. This intelligent document reader “AT10Ki” can easily provide a direct linked to cloud applications for various documents such as drivers’ licenses, passports, visas, ID cards, and other official documents.
In March 2018, RF IDeas, Inc., introduced “pcProx Plus BLE reader” coupled with RFID and Bluetooth low energy technology. The reader has wide-ranging usage in financial, healthcare and other industries for various applications like beaconing & e-prescribe for asset tracking & indoor location.

Key Players Operating in the Global ID Reader Market

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Submitted 5 years 12 months ago by TransparencyMarket.