Dublin, May 26, 2021 (GLOBE NEWSWIRE) -- The "Cheque Scanner Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Single-feed Cheque Scanners and Multi-feed Cheque Scanners) and Applications (Banks, Enterprises and Financial Institutions)" report has been added to ResearchAndMarkets.com's offering.
The global cheque scanner market was valued at US$ 721.52 million in 2020 and is projected to reach US$ 1,079.55 million by 2028; it is expected to grow at a CAGR of 5.3% from 2021 to 2028.
The cheque scanner market is anticipated to witness a continuous growth in the future. At present scenario, irrespective of availability of different online platforms for sending/receiving money, large proportion of enterprise depends on cheques. This aspect is creating need for cheque scanner to quickly and efficiently clear lumpsum cheques without any human error. The cheque scanner is heavily used by financial institutions, banks, and credit unions to enhance productivity and boost revenue in an automated manner.
The demand for cheque scanner is surging due to rising need to enhance operational efficiency in banks. Cheques are still considered as a primary way for sending/receiving money in various enterprises. Therefore, banks & accounting firms are installing cheque scanners at their branches to effectively manage cheques clearance.
In addition, stringent rules from regulatory authorities are evolving the banking system globally, which is contributing to the market growth. Governments of countries such as the US, the UK, India, and Brazil are setting rules for making cheque process easy.
Also, with ongoing wave of digital transformation of banking sector, the scope of using remote deposit capture will continue to rise in the forthcoming period. In addition, the emergence of mobile deposit services and innovative cheque scanners for standalone kiosks or virtual desktop environment would propel the adoption of cheque scanner in coming years.
U.S. Bank (US), KeyCorp (US), Savings Bank of Mendocino County (US), the Cottonport Bank (US), State Bank of India (India), ICICI Bank (India), NatWest Group (UK), Banco Bradesco (Brazil), and Banese (Brazil) are among the prominent banks across the world using cheque scanner for the effective management of cheque clearance process. For instance, the Cottonport Bank has deployed cheque scanner with an aim to reduce the overall delivery lead time.
PANINI S.p.A., Epson Corp, Canon Inc., Digital Check, ARCA, MagTek, NCR Corporation, Eastman Kodak Company, RDM Corporation, and Lagona are among the key market players profiled during this market study.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Cheque Scanner Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Cheque Scanner Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Need to Achieve Operation Efficiency
5.1.2 Push from Regulatory Authorities
5.2 Market Restraints
5.2.1 Cost Associated with Cheque Scanner
5.3 Market Opportunities
5.3.1 Opportunity for Continuous Innovations
5.4 Market Trend
5.4.1 Trend Towards Remote Deposit Capture (RDC)
5.5 Impact Analysis of Drivers and Restraints
6. Cheque Scanner Market - Global Analysis
6.1 Cheque Scanner Market Global Overview
6.2 Cheque Scanner Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Cheque Scanner Market Analysis - By Product
7.1 Overview
7.2 Cheque Scanner Market, By Product (2020 and 2028)
7.3 Single-Feed Scanner
7.4 Multi-Feed Scanner
8. Cheque Scanner Market Analysis - By Application
8.1 Overview
8.2 Global Cheque Scanner Market Breakdown, By Application, 2020 & 2028 (%)
8.3 Banks
8.4 Enterprises and Financial Institutions
9. Check Scanner Market - Geographic Analysis
10. Cheque Scanner Market- COVID-19 Impact Analysis
11. Global Cheque Scanner Market-Industry Landscape
12. Company Profiles
- PANINI S.p.A.
- Epson Corp
- Canon Inc.
- Digital Check
- ARCA
- MagTek
- NCR Corporation
- Eastman Kodak Company
- RDM Corporation
- Lagona
For more information about this report visit https://www.researchandmarkets.com/r/yw4xul