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Remote Deposit Capture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A5208
Year End
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Market Overview:
The global remote deposit capture market size reached US$ 293.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 458.6 Million by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2022
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Forecast Years
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2023-2028
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Historical Years
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2017-2022
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| Remote Deposit Capture Market Size in 2022 | US$ 293.9 Million |
| Remote Deposit Capture Market Forecast in 2028 | US$ 458.6 Million |
| Remote Deposit Capture Market Growth Rate 2023-2028 | 7.3% |
Remote deposit capture (RDC) refers to a service offered by banks to manage the check depositing process remotely. It allows the customers to scan checks and transmit scanned images via an encrypted internet connection. It includes scanning the checks, verifying the details and images and sharing the deposits with financial institutions. RDC requires a scanner, an internet connection and a banking service that supports the system and is widely available on tablets, smartphones and computers to deposit checks conveniently. It assists in enhancing cash flow, eliminating trips to the bank, improving business operations, 24/7 availability, reducing risks and improving convenience. As a result, RDC is widely used across small, medium and large enterprises.
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Remote Deposit Capture Market Trends:
The increasing adoption of smartphones across the globe is one of the key factors driving the growth of the market. RDC is widely used among consumers as it provides instant notification for deposited funds and offers high-speed, convenience and hassle-free services. Additionally, the increasing digitization to improve core processing capabilities by eliminating the need to visit banks and remotely depositing gift checks, paychecks and refund checks is favoring the market growth. Moreover, various technological advancements, such as the integration of the Internet of Things (IoT) and artificial intelligence (AI) to make secure payments, provide prompt customer assistance and enhance efficiency, are providing a thrust to the market growth. In line with this, the widespread adoption of data analytics capabilities that enable real-time detection and assist in reducing risks and frauds is positively impacting the market growth. Other factors, including the sudden outbreak of coronavirus (COVID-19) disease and increased awareness of social distancing, along with the implementation of various government initiatives toward digitalization, are anticipated to drive the market toward growth.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global remote deposit capture market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment and enterprises.
Breakup by Component:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Solution
- Service
Breakup by Deployment:
- On-premises
- Cloud-based
Breakup by Enterprises:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alogent, Checkalt LLC, Digital Check Corp., EFT Network, FIS, Fiserv Inc., Jack Henry & Associates Inc., Jaguar Software, Mitek Systems Inc., NCR Corporation, Northern Trust Corporation and ProgressSoft Corporation.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Million |
| Segment Coverage | Component, Deployment, Enterprises, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Alogent, Checkalt LLC, Digital Check Corp., EFT Network, FIS, Fiserv Inc., Jack Henry & Associates Inc., Jaguar Software, Mitek Systems Inc., NCR Corporation, Northern Trust Corporation and ProgressSoft Corporation |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global remote deposit capture market was valued at US$ 293.9 Million in 2022.
We expect the global remote deposit capture market to exhibit a CAGR of 7.3% during 2023-2028.
The rising integration of IoT and artificial intelligence to make secure payments, provide prompt customer assistance, and enhance efficiency of financial transactions, is currently driving the global remote deposit capture market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of remote deposit capture service in the banking sector to remotely deposit cheques and eliminate the need to visit banks for combating the risk of the coronavirus infection.
Based on the component, the global remote deposit capture market can be categorized into solution and service. Currently, solution exhibits a clear dominance in the market.
Based on the deployment, the global remote deposit capture market has been segmented into on-premises and cloud-based, where on-premises currently represent the largest market share.
Based on the enterprises, the global remote deposit capture market can be bifurcated into Small and Medium-sized Enterprises (SMEs) and large enterprises, where Small and Medium-sized Enterprises (SMEs) currently account for the majority of the global market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global remote deposit capture market include Alogent, Checkalt LLC, Digital Check Corp., EFT Network, FIS, Fiserv Inc., Jack Henry & Associates Inc., Jaguar Software, Mitek Systems Inc., NCR Corporation, Northern Trust Corporation, and ProgressSoft Corporation.
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