Europe 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) 

TIPRE00027199 | Pages: 105 | Technology, Media and Telecommunications | Feb 2022 | Type: Regional | Status: Published

Market Introduction

Geographically, the cheque scanner market in Europe is further segmented into the UK, Germany, Italy, France, Russia, and the rest of Europe. Germany, the UK, France, and Italy are at the forefront of the adopting digital banking. Robust adoption of the advanced technology in the banking and large enterprises sector drives the growth of the Europe check scanner market. The presence of leading market players such as PANINI, Digital Check Corp., Canon Europe, and MagTek Europe is bolstering the market growth. The banks, financial institutes, and large enterprises firmly shift toward remote deposit capture systems to enhance customer banking experience. The countries such as the UK and France are promoting remote deposit capture services. For instance, in October 2017, all-banks in the UK started to offer an image clearing system (ICS) for check deposit applications. The solution introduced in the country is enabling customers to exchange cheque images and data instead of visiting the bank with a physical paper document. The UK banks are processing the check with the image alone; there is no requirement for bank check documents. Such legislative changes from the country to enhance banking service is creating a substantial growth opportunity for market players in the UK. The region has a positive outlook for adopting remote deposit capture systems to improve banking services. Apart from the increasing adoption of check scanners in the banking sector, the rising demand from large-sized businesses to process many cheques also creates the need for check scanners. Moreover, the companies are developing and introducing innovative devices to meet customer demands. For instance, in November 2018, Canon Europe introduced a new imageFORMULA range of check scanners. This new series of check scanners are capable of scanning up to 3,000 checks per day with accuracy and processing up to 45 checks per minute. Further, the imageFORMULA range of check scanners captures a double-sided image in a single transaction.

In Europe, Russia is the hardest-hit country by the COVID-19 outbreak, followed by the UK and others. The majority of European countries suffered an economic hit due to the lack of revenues from various industries due to business shutdowns, travel bans, and supply chain disruptions. However, with the advent of the remote cheque deposit model during these crises, the scope of cheque scanners is likely to expand further as the model eliminates the need for waiting in long queues for depositing cheques. Irrespective of such developments, disruptions in supply chains and halts in manufacturing units have limited the manufacturing of cheque scanners, which has led to a decline in revenues of players operating in the European cheque scanner market.

Market Overview and Dynamics

The cheque scanner market in Europe is expected to grow from US$ 193.84 million in 2021 to US$ 275.18 million by 2028; it is estimated to grow at a CAGR of 5.1% from 2021 to 2028. Opportunity for continuous innovations; Vendors need to improve and enhance their offerings to be relevant in the market. For instance, Digital Check introduced enhanced API, SecureLink 2.0, which contains enhanced functionality that is a major update to the original SecureLink by Digital Check. Securelink 2.0 offers user specific application that can be operated on a network, including PCs, handheld devices, and touchscreens. SecureLink is used by financial institutions and corporations to operate cheque scanner in aggregation with thin-client teller workstations, virtual desktop environments, and standalone kiosks. Similarly, RDM offers EC9600i series network cheque scanner that offers simple driverless one touch setup. The solution utilizes RDM’s Independence TM platform technology, an intelligent, self-contained, and secured network. This enables the scanner to connect to PC, Mac, mobile devices, and payment terminals within any operating system or browser directly via driverless USB or on a network via Ethernet, including thin clients such as Citrix. This is bolstering the growth of the cheque scanner market.

Key Market Segments

Based on type, the market is segmented into single-feed check scanner and multi-feed check scanner. In 2020, the multi-feed check scanner segment held the largest share in Europe cheque scanner market. Based on application the market is divided into banks, enterprises & financial institutions. The banks segment accounts for largest market share in the 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the cheque scanner market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ARCA, Canon Inc., Digital Check, Eastman Kodak Company, Epson, Lagona, MagTek Inc, NCR Corporation, and Panini S.p.A. among others.

Reasons to buy report

  • To understand the Europe cheque scanner market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe cheque scanner market
  • Efficiently plan M&A and partnership deals in Europe cheque scanner market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe cheque scanner market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.

EUROPE CHEQUE SCANNER MARKET SEGMENTATION

By Type

  • Single-Feed Check Scanner
  • Multi-Feed Check Scanner

By Application

  • Banks
  • Enterprises and Financial Institutions

By Country

  • UK
  • Germany
  • Italy
  • France
  • Russia
  • Rest of Europe

Company Profiles

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

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.        Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           Europe Cheque Scanner Market Landscape

4.1         Market Overview

4.2         PEST Analysis

4.2.1        Europe – PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           Europe Cheque Scanner Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Surge in 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 – Europe Analysis

6.1         Cheque Scanner Market Europe Overview

6.2         Europe Cheque Scanner Market –Revenue and Forecast to 2028 (US$ Million)

7.           Europe Cheque Scanner Market Analysis – By Type

7.1         Overview

7.2         Europe Cheque Scanner Market, By Type (2020 and 2028)

7.3         Single-Feed Scanner

7.3.1        Overview

7.3.2        Single-Feed Scanner: Europe Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

7.4         Multi-Feed Scanner

7.4.1        Overview

7.4.2        Multi-Feed Scanner: Europe Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

8.           Europe Cheque Scanner Market Analysis – By Application

8.1         Overview

8.2         Europe Cheque Scanner Market Breakdown, By Application, 2020 & 2028 (%)

8.3         Banks

8.3.1        Overview

8.3.2        Banks: Europe Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

8.4         Enterprises & Financial Institutions

8.4.1        Overview

8.4.2        Enterprises & Financial Institutions: Europe Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

9.           Europe Check Scanner Market – Country Analysis

9.1         Overview

9.1.1        Europe: Cheque Scanner Market- by Key Country

9.1.1.1          Germany: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1          Germany: Check Scanner Market- By Type

9.1.1.1.2          Germany: Cheque Scanner Market- By Application

9.1.1.2          France: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1          France: Check Scanner Market- By Type

9.1.1.2.2          France: Cheque Scanner Market- By Application

9.1.1.3          Italy: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1          Italy: Check Scanner Market- By Type

9.1.1.3.2          Italy: Cheque Scanner Market- By Application

9.1.1.4          UK: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1          UK: Check Scanner Market- By Type

9.1.1.4.2          UK: Cheque Scanner Market- By Application

9.1.1.5          Russia: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.5.1          Russia: Check Scanner Market- By Type

9.1.1.5.2          Russia: Cheque Scanner Market- By Application

9.1.1.6          Rest of Europe: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.6.1          Rest of Europe: Check Scanner Market- By Type

9.1.1.6.2          Rest of Europe: Cheque Scanner Market- By Application

10.        Europe Cheque Scanner Market- COVID-19 Impact Analysis

10.1      Overview

11.        Europe Cheque Scanner Market-Industry Landscape

11.1      Overview

11.2      Market Initiative

11.3      Merger and Acquisition

11.4      New Development

12.        Company Profiles

12.1      Panini S.p.A.

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2      Epson

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3      Canon Inc.

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4      Digital Check

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5      ARCA

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

12.6      MagTek Inc

12.6.1     Key Facts

12.6.2     Business Description

12.6.3     Products and Services

12.6.4     Financial Overview

12.6.5     SWOT Analysis

12.6.6     Key Developments

12.7      NCR Corporation

12.7.1     Key Facts

12.7.2     Business Description

12.7.3     Products and Services

12.7.4     Financial Overview

12.7.5     SWOT Analysis

12.7.6     Key Developments

12.8      Eastman Kodak Company

12.8.1     Key Facts

12.8.2     Business Description

12.8.3     Products and Services

12.8.4     Financial Overview

12.8.5     SWOT Analysis

12.8.6     Key Developments

12.9      Iagona

12.9.1     Key Facts

12.9.2     Business Description

12.9.3     Products and Services

12.9.4     Financial Overview

12.9.5     SWOT Analysis

12.9.6     Key Developments

13.        Appendix

13.1      About The Insight Partners

13.2      Word Index

 


LIST OF TABLES

Table 1.             Europe Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Table 2.             Germany: Check Scanner Market- By Type –Revenue and Forecast to 2028 (US$ Million)

Table 3.             Germany: Cheque Scanner Market- By Application –Revenue and Forecast to 2028 (US$ Million)

Table 4.             France: Check Scanner Market- By Type –Revenue and Forecast to 2028 (US$ Million)

Table 5.             France: Cheque Scanner Market- By Application –Revenue and Forecast to 2028 (US$ Million)

Table 6.             Italy: Check Scanner Market- By Type –Revenue and Forecast to 2028 (US$ Million)

Table 7.             Italy: Cheque Scanner Market- By Application –Revenue and Forecast to 2028 (US$ Million)

Table 8.             UK: Check Scanner Market- By Type –Revenue and Forecast to 2028 (US$ Million)

Table 9.             UK: Cheque Scanner Market- By Application –Revenue and Forecast to 2028 (US$ Million)

Table 10.          Russia: Check Scanner Market- By Type –Revenue and Forecast to 2028 (US$ Million)

Table 11.          Russia: Cheque Scanner Market- By Application –Revenue and Forecast to 2028 (US$ Million)

Table 12.          Rest of Europe: Check Scanner Market- By Type –Revenue and Forecast to 2028 (US$ Million)

Table 13.          Rest of Europe: Cheque Scanner Market- By Application –Revenue and Forecast to 2028 (US$ Million)

Table 14.          List of Abbreviation

 


LIST OF FIGURES

Figure 1.           Europe Cheque Scanner Market Segmentation

Figure 2.           Europe Cheque Scanner Market Segmentation – By Country

Figure 3.           Europe Cheque Scanner Market Overview

Figure 4.           Multi-Feed Scanner Segment is Expected to Dominate the Market by Type

Figure 5.           Banks Segment held Largest Market Share in 2020

Figure 6.           UK held Largest Market Share in 2020

Figure 7.           Europe – PEST Analysis

Figure 8.           Expert Opinion

Figure 9.           Europe Cheque Scanner Market Impact Analysis of Drivers and Restraints

Figure 10.        Europe Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 11.        Europe Cheque Scanner Market Revenue Share, by Type (2020 and 2028)

Figure 12.        Single-Feed Scanner: Europe Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Multi-Feed Scanner: Europe Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 14.        Europe Cheque Scanner Market Revenue Share, by Application (2020 and 2028)

Figure 15.        Banks: Europe Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16.        Enterprises & Financial Institutions: Europe Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17.        Europe: Cheque Scanner Market, by key Country – Revenue (2020) (US$ Million)

Figure 18.        Europe: Check Scanner Market Revenue Share, By Key Country (2020 and 2028)

Figure 19.        Germany: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20.        France: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21.        Italy: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22.        UK: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Russia: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.        Rest of Europe: Cheque Scanner Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25.          Impact of COVID-19 Pandemic in Europe Country Markets
  1. ARCA
  2. Canon Inc.
  3. Digital Check
  4. Eastman Kodak Company
  5. Epson
  6. Lagona
  7. MagTek Inc
  8. NCR Corporation
  9. Panini S.p.A.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe Cheque Scanner Market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Europe Cheque Scanner Market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Cheque Scanner Market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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