Market Overview:
The global mobile cheque scanning system market is expected to grow at a CAGR of xx% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for mobile cheque scanning systems from financial institutions, enterprises, and others. In addition, the growing adoption of cloud-based solutions is also contributing to the growth of this market.
Product Definition:
A mobile cheque scanning system is a device or app that allows users to scan cheques and deposit them into their bank accounts electronically. This system can speed up the process of depositing cheques, as well as making it easier to track deposits. The importance of mobile cheque scanning systems lies in their ability to make banking more convenient for users, while also speeding up the process of depositing money.
Single-Feed Cheque Scanning System:
The global single-feed cheque scanning system market size was valued at USD 1.5 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period. The increasing demand for mobile cheque scanning systems across various industries such as BFSI, retail, healthcare, and others is anticipated to drive the growth of this industry during the forecast period.
Multi-Feed Cheque Scanning System:
Multi-Feed Cheque Scanning System is a device that scans cheques from multiple feeds simultaneously. It is used in Mobile Cheque Scanning System to scan cheques of varying sizes and shapes.
The Multi-Feed system consists of an input mechanism, control unit, motorized table, and laser source or LED light source. The system can be fixed or portable depending on the customer requirement.
Application Insights:
The financial institutions segment dominated the global market in 2017. The growth of this segment can be attributed to the increasing adoption of e-commerce and growing preference for electronic payments among consumers and businesses. Moreover, rising demand for mobile cheque scanning solutions from banks and other financial institutions is expected to fuel industry expansion over the forecast period.
The enterprise application segment is anticipated to witness significant growth over the forecast period owing to various advantages offered by these systems, such as ease of use, efficiency in cheque processing, increased productivity along with cost & time savings. Furthermore, these systems help enterprises comply with regulatory requirements such as PSD2 or General Data Protection Regulation (GDPR) which demands easy access to account information via mobile devices or online portals without printing out a paper copy for every transaction. Such factors are projected to drive demand over the coming years.
Other applications include government institutes.
Regional Analysis:
The market in Asia Pacific and Middle East & Africa is expected to grow at a significant rate over the forecast period. The growth can be attributed to increasing adoption of mobile cheque scanning systems by financial institutions for on-the-go cheque processing, especially in developing countries such as India and China. In addition, growing smartphone penetration coupled with rising e-commerce activities is anticipated to drive demand for MCSS solutions in these regions.
North America held a substantial share of the overall revenue owing to early adoption of technologies such as Near-field Communication (NFC) and contactless payments across various industries. Moreover, presence of major players such as Vistaprint; Paypal; Braintree; American Express; Intuit Inc.; Square, Inc.; Zong LLC., etc., has contributed significantly towards regional market growth. These companies are continuously working towards providing enhanced services through innovative products thus driving industry growth across North America region.
Growth Factors:
- Increasing demand for mobile cheque scanning system from small and medium businesses (SMBs) due to the advantages offered by such systems over traditional methods of data entry and storage.
- Proliferation of smartphones and tablets, coupled with the increasing demand for mobile apps, is driving the growth of the mobile cheque scanning system market.
- The growing trend of paperless transactions is also contributing to the growth of this market.
- Rising awareness about security risks associated with traditional methods of data entry and storage is prompting businesses to adopt mobile cheque scanning systems as a more secure alternative solution.
Scope Of The Report
Report Attributes
Report Details
Report Title
Mobile Cheque Scanning System Market Research Report
By Type
Single-Feed Cheque Scanning System, Multi-Feed Cheque Scanning System
By Application
Financial Institutions, Enterprise, Others
By Companies
Canon, Epson, Digital Check, Panini, Magtek, Kodak, ARCA, NCR Corporation
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
211
Number of Tables & Figures
148
Customization Available
Yes, the report can be customized as per your need.
Global Mobile Cheque Scanning System Market Report Segments:
The global Mobile Cheque Scanning System market is segmented on the basis of:
Types
Single-Feed Cheque Scanning System, Multi-Feed Cheque Scanning System
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:
- Canon
- Epson
- Digital Check
- Panini
- Magtek
- Kodak
- ARCA
- NCR Corporation
Highlights of The Mobile Cheque Scanning System 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 Cheque Scanning System
- Multi-Feed Cheque Scanning System
- 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 Mobile Cheque Scanning System 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
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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 mobile cheque scanning system is a device that can be used to scan and process cheques. It typically includes a scanner, computer, and printer. The system allows users to quickly and easily scan cheques into their computer for processing.
Some of the major companies in the mobile cheque scanning system market are Canon, Epson, Digital Check, Panini, Magtek, Kodak, ARCA, NCR Corporation.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Mobile Cheque Scanning System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Mobile Cheque Scanning System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Mobile Cheque Scanning System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Mobile Cheque Scanning System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Mobile Cheque Scanning System Market Size & Forecast, 2020-2028
4.5.1 Mobile Cheque Scanning System Market Size and Y-o-Y Growth
4.5.2 Mobile Cheque Scanning System Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Single-Feed Cheque Scanning System
5.2.2 Multi-Feed Cheque Scanning System
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Financial Institutions
6.2.2 Enterprise
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Mobile Cheque Scanning System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Mobile Cheque Scanning System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Single-Feed Cheque Scanning System
9.6.2 Multi-Feed Cheque Scanning System
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Financial Institutions
9.10.2 Enterprise
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Single-Feed Cheque Scanning System
10.6.2 Multi-Feed Cheque Scanning System
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Financial Institutions
10.10.2 Enterprise
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Single-Feed Cheque Scanning System
11.6.2 Multi-Feed Cheque Scanning System
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Financial Institutions
11.10.2 Enterprise
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Single-Feed Cheque Scanning System
12.6.2 Multi-Feed Cheque Scanning System
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Financial Institutions
12.10.2 Enterprise
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Single-Feed Cheque Scanning System
13.6.2 Multi-Feed Cheque Scanning System
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Financial Institutions
13.10.2 Enterprise
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Mobile Cheque Scanning System Market: Competitive Dashboard
14.2 Global Mobile Cheque Scanning System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Canon
14.3.2 Epson
14.3.3 Digital Check
14.3.4 Panini
14.3.5 Magtek
14.3.6 Kodak
14.3.7 ARCA
14.3.8 NCR Corporation
