Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Cheque Scanner Market by Type (Single-Feed Check Scanners, Multi-Feed Check Scanners), By Application (Financial Institutions, Enterprise, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Cheque Scanner Market by Type (Single-Feed Check Scanners, Multi-Feed Check Scanners), By Application (Financial Institutions, Enterprise, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 156053 3300 Machinery & Equipment 377 230 Pages 4.5 (44)

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.

Global Cheque Scanner Industry Outlook

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


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


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:


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.


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:

  1. Epson
  2. Canon
  3. Panini
  4. Digital Check
  5. ARCA
  6. Magtek
  7. Kodak
  8. NCR Corporation
  9. RDM

Global Cheque Scanner Market Overview

Highlights of The Cheque Scanner Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Single-Feed Check Scanners
    2. Multi-Feed Check Scanners
  1. By Application:

    1. Financial Institutions
    2. Enterprise
    3. Others
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. 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

Global Cheque Scanner Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. 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 Overview Financials Developments Strategic Outlook
      14.4.2. Canon Overview Financials Developments Strategic Outlook
      14.4.3. Panini Overview Financials Developments Strategic Outlook
      14.4.4. Digital Check Overview Financials Developments Strategic Outlook
      14.4.5. ARCA Overview Financials Developments Strategic Outlook
      14.4.6. Magtek Overview Financials Developments Strategic Outlook
      14.4.7. Kodak Overview Financials Developments Strategic Outlook
      14.4.8. NCR Corporation Overview Financials Developments Strategic Outlook
      14.4.9. RDM Overview Financials Developments Strategic Outlook
      14.4.10. COMPANY 10 Overview Financials Developments Strategic Outlook
      14.4.11. COMPANY 11 Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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