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Cheque Scanner Market Share

Report ID: GMI8559
Published Date: Mar 2024
Report Format: PDF

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Cheque Scanner Market Share

Global Company Market Share Analysis (%) (2023)

The key players operating in the market are Digital Check Corporation, NCR Corporation, RDM Corporation, Panini S.p.A., Canon Inc., and Seiko Epson Corporation all together comprises a market share of 25-30% in 2023. The market is moderately fragmented as these established companies strategically acquire smaller players to expand their product portfolios, access new markets, and fortify their market positions. The global players are involving in launching new technologically updated products to stay ahead in the competitive market.

Cheque Scanner Market Share

Major players operating in the cheque scanner industry include:

ARCA
Burroughs Smart Source
Burroughs, Inc.
Canon Inc.
CTS Electronics
Digital Check Corporation
IBML
MagTek, Inc.
MiTek Systems, Inc.
NCR Corporation
Panini S.p.A.
RDM Corporation
Seac Banche S.p.A.
Seiko Epson Corporation
UVair International Inc.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of cheque scanner was reached USD 770 million in 2023 and is anticipated to register a CAGR of 5.9% between 2024 and 2032, driven by the increasing volume of cheque-based transactions, particularly in sectors such as banking, finance, and retail.

Multi-feed cheque scanners segment held a dominant market share of over 75% in 2023 and is expected to reach 78.09% by 2032, as they can process numerous cheques at the same time, resulting in increased productivity and throughput than single-feed scanners.

Asia Pacific market for cheque scanner held a revenue share of over 45% in 2023 and is set to gain traction through 2032, driven by rapid economic growth, urbanization, and expanding middle-class population base.

ARCA, Burroughs Smart Source, Burroughs, Inc., Canon Inc., CTS Electronics, Digital Check Corporation, IBML, MagTek, Inc., MiTek Systems, Inc., NCR Corporation, Panini S.p.A., RDM Corporation, Seac Banche S.p.A. are some of the major industry contenders.