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The global remote deposit capture market was valued at US$ 270.1 Million in 2021.
We expect the global remote deposit capture market to exhibit a CAGR of 7.70% during 2022-2027.
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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