North America Cheque Scanner Market Trends and Analysis by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

North America Cheque Scanner Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Single-Feed Check Scanners and Multi-Feed Check Scanners) and Application (Banks, and Enterprises and Financial Institutions)

Report Date : Feb 2022
Report Code : TIPRE00027208

Category : Banking, Financial Services, and Insurance
Status : Published

Available Report Formats :
No. of Pages : 102

Page Updated: Feb 2022

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The cheque scanner market in North America is expected to grow from US$ 328.05 million in 2021 to US$ 495.19 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028.

The banking regulatory authority continuously monitors banking system operation in the country. Moreover, the banking regulatory authority across the region have been promoting digital transformation including the process of digital cheque clearance, thereby driving the demand for cheque scanner. Till the end of 20th century, the cheque clearance in the US was done physically. However, in 2003, congress passed the Check 21 Act, which required fully electronic clearing using cheque images, instead of the original paper cheques. Further, the use of remote deposit capture technology debuted in the US in 2004, creating demand for cheque scanner system in the country. The banking system in the US started using the technology since 2003, which is driving the growth of the North America cheque scanner market.The US is the worst-hit country in North America due to the COVID-19 outbreak. Increasing number of infected individuals led the US federal government to shut down the country borders for international travelers in 2020. The majority of the manufacturing plants either discontinued their operations or continued operating with minimum staff; moreover, travel restrictions disrupted the supply chain of components and parts. These are among the critical issues faced by manufacturers in North American countries in 2020 and early 2021. On the contrary, with a decline in the manufacturing of cheque scanners, the scope of remote deposit capture technology is projected to gain momentum in the upcoming years. Upon facing the consequences of slowdown in the production and sales of cheque scanners, banks are looking forwards to bring latest products such as remote deposit capture technology for enabling digital check deposit services to small business located in remote areas.

North America Cheque Scanner Market Revenue and Forecast to 2028 (US$ Million)

North America Cheque Scanner Market Segmentation

North America Cheque Scanner Market – By Type

Single-Feed Check Scanner
Multi-Feed Check Scanner

North America Cheque Scanner Market – By Application

Banks
Enterprises and Financial Institutions

North America Cheque Scanner Market– By Country

US
Canada
Mexico

North America Cheque Scanner Market-Companies Mentioned

ARCA
Canon Inc.
Digital Check
Eastman Kodak Company
Epson
MagTek Inc
NCR Corporation
Panini S.p.A.
RDM Corporation

North America Cheque Scanner Report Scope

Report Attribute	Details
Market size in 2021	US$ 328.05 Million
Market Size by 2028	US$ 495.19 Million
Global CAGR (2021 - 2028)	6.1%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Type Single-Feed Check Scanners and Multi-Feed Check Scanners By Application Banks Enterprises and Financial Institutions
Regions and Countries Covered	North America US Canada Mexico
Market leaders and key company profiles	ARCA Canon Inc. Digital Check Eastman Kodak Company Epson MagTek Inc NCR Corporation Panini S.p.A. RDM Corporation

Research Manager

Ankita Mittal

Manager,
Market Research & Consulting

Ankita is a dynamic market research and consulting professional with over 8 years of experience across the technology, media, ICT, and electronics & semiconductor sectors. She has successfully led and delivered 100+ consulting and research assignments for global clients such as Microsoft, Oracle, NEC Corporation, SAP, KPMG, and Expeditors International. Her core competencies include market assessment, data analysis, forecasting, strategy formulation, competitive intelligence, and report writing.

Ankita is adept at handling complete project cycles—from pre-sales proposal design and client discussions to post-sales delivery of actionable insights. She is skilled in managing cross-functional teams, structuring complex research modules, and aligning solutions with client-specific business goals. Her excellent communication, leadership, and presentation abilities have enabled her to consistently deliver value-driven outcomes in fast-paced and evolving market environments.

What are the North America Cheque Scanner Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

North America Cheque Scanner Market Report Snapshots

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