Market Overview:
The global cheque scanner market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cheque scanners from financial institutions, enterprises, and others across the globe. In addition, the growing adoption of cheque scanning solutions by small and medium-sized businesses (SMBs) is also contributing to the growth of this market. Based on type, the global cheque scanner market can be segmented into single-feed check scanners and multi-feed check scanners. The single-feed check scanner segment is expected to account for a larger share of this market in 2018 owing to its low cost and easy installation as compared to multi-feed check scanners.
Product Definition:
A cheque scanner is a device that is used to scan cheques so that they can be deposited into a bank account. This device allows the user to quickly and easily deposit checks without having to go through the hassle of filling out a deposit slip or going to the bank. The importance of this device lies in its ability to make depositing checks easier and faster for the user.
Single-Feed Check Scanners:
Single-feed check scanners are used for scanning the back of cheque and verify its accuracy. It is a low-cost device, which can be easily installed at bank teller machines or self service kiosks. The technology has been around for more than two decades but its usage was limited to large banks with multiple branches until recently when smaller banks started adopting it as well.
Multi-Feed Check Scanners:
Multi-feed check scanners are used to detect errors and omissions in several documents at a time. It is an effective tool for scanning checks as it allows the user to scan the same document multiple times with slight variations in each attempt. This helps in catching any possible error that may have been missed during a single pass through the document.
Application Insights:
The financial institutions segment dominated the global cheque scanner market in 2017, accounting for a share of over 60.0% and is expected to maintain its lead over the forecast period. The growth can be attributed to increasing adoption of cheque scanners at banks and other financial institutions, which in turn is likely to propel industry expansion over the coming years.
Enterprise application was one of the prominent segments accounted for in 2017 owing to growing preference among companies for digitization efforts at a domestic level as well as an international level. A large number of companies have started adopting cheque scanners owing to benefits offered by them such as ease Of Use, Increased Security And Convenience In Cheques Clearing Processes Among Others which are anticipated fuel demand from enterprise applications segment during future years.
The others application segment includes government departments, public sector units (PSUs), non-profit organizations (NPOs).
Regional Analysis:
North America dominated the global cheque scanner market in 2017. The presence of a large number of financial institutions and growing adoption of technologies such as barcoding, check imaging, and others are contributing to the growth of this regional market. Moreover, increasing government initiatives to curb money laundering activities is also propelling the demand for these devices in this region. For instance, according to a recent study published by Global Financial Integrity (GFI), an organization working for curbing financial crimes including money laundering has estimated that around USD X billion was laundered through offshore centers in 2015 alone.
Asia Pacific is expected to witness significant growth over the next eight years owing with rapid economic development coupled with rising disposable income among consumers especially in India.
Growth Factors:
- Increasing demand for automation in the banking sector
- Rising demand for mobile and online banking
- Proliferation of digital payments
- Growing number of retail outlets and e-commerce platforms
- Increasing adoption of cheque scanning by small businesses
Scope Of The Report
Report Attributes
Report Details
Report Title
Cheque Scanner Market Research Report
By Type
Single-Feed Check Scanners, Multi-Feed Check Scanners
By Application
Financial Institutions, Enterprise, Others
By Companies
Epson, Canon, Panini, Digital Check, ARCA, Magtek, Kodak, NCR Corporation, RDM
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Cheque Scanner Market Report Segments:
The global Cheque Scanner market is segmented on the basis of:
Types
Single-Feed Check Scanners, Multi-Feed Check Scanners
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Financial Institutions, Enterprise, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Epson
- Canon
- Panini
- Digital Check
- ARCA
- Magtek
- Kodak
- NCR Corporation
- RDM
Highlights of The Cheque Scanner Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single-Feed Check Scanners
- Multi-Feed Check Scanners
- By Application:
- Financial Institutions
- Enterprise
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cheque Scanner Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A cheque scanner is a device that can read and process cheques.
Some of the major players in the cheque scanner market are Epson, Canon, Panini, Digital Check, ARCA, Magtek, Kodak, NCR Corporation, RDM.
The cheque scanner market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cheque Scanner Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Cheque Scanner Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Cheque Scanner Market - Supply Chain
4.5. Global Cheque Scanner Market Forecast
4.5.1. Cheque Scanner Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Cheque Scanner Market Size (000 Units) and Y-o-Y Growth
4.5.3. Cheque Scanner Market Absolute $ Opportunity
5. Global Cheque Scanner Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Cheque Scanner Market Size and Volume Forecast by Type
5.3.1. Single-Feed Check Scanners
5.3.2. Multi-Feed Check Scanners
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Cheque Scanner Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Cheque Scanner Market Size and Volume Forecast by Application
6.3.1. Financial Institutions
6.3.2. Enterprise
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Cheque Scanner Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Cheque Scanner Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Cheque Scanner Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Cheque Scanner Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Cheque Scanner Demand Share Forecast, 2019-2026
9. North America Cheque Scanner Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Cheque Scanner Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Cheque Scanner Market Size and Volume Forecast by Application
9.4.1. Financial Institutions
9.4.2. Enterprise
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Cheque Scanner Market Size and Volume Forecast by Type
9.7.1. Single-Feed Check Scanners
9.7.2. Multi-Feed Check Scanners
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Cheque Scanner Demand Share Forecast, 2019-2026
10. Latin America Cheque Scanner Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Cheque Scanner Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Cheque Scanner Market Size and Volume Forecast by Application
10.4.1. Financial Institutions
10.4.2. Enterprise
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Cheque Scanner Market Size and Volume Forecast by Type
10.7.1. Single-Feed Check Scanners
10.7.2. Multi-Feed Check Scanners
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Cheque Scanner Demand Share Forecast, 2019-2026
11. Europe Cheque Scanner Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Cheque Scanner Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Cheque Scanner Market Size and Volume Forecast by Application
11.4.1. Financial Institutions
11.4.2. Enterprise
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Cheque Scanner Market Size and Volume Forecast by Type
11.7.1. Single-Feed Check Scanners
11.7.2. Multi-Feed Check Scanners
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Cheque Scanner Demand Share, 2019-2026
12. Asia Pacific Cheque Scanner Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Cheque Scanner Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Cheque Scanner Market Size and Volume Forecast by Application
12.4.1. Financial Institutions
12.4.2. Enterprise
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Cheque Scanner Market Size and Volume Forecast by Type
12.7.1. Single-Feed Check Scanners
12.7.2. Multi-Feed Check Scanners
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Cheque Scanner Demand Share, 2019-2026
13. Middle East & Africa Cheque Scanner Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Cheque Scanner Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Cheque Scanner Market Size and Volume Forecast by Application
13.4.1. Financial Institutions
13.4.2. Enterprise
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Cheque Scanner Market Size and Volume Forecast by Type
13.7.1. Single-Feed Check Scanners
13.7.2. Multi-Feed Check Scanners
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Cheque Scanner Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Cheque Scanner Market: Market Share Analysis
14.2. Cheque Scanner Distributors and Customers
14.3. Cheque Scanner Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Epson
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Canon
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Panini
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Digital Check
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. ARCA
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Magtek
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Kodak
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. NCR Corporation
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. RDM
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
