Remote Deposit Capture Market Report by Component (Solution, Service), Deployment (On-premises, Cloud-based), Enterprises (Small and Medium-sized Enterprises (SMEs), Large Enterprises), and Region 2024-2032
The global remote deposit capturemarket size reached US$ 315.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 559.1 Million by 2032, exhibiting a growth rate (CAGR) of 6.37% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 315.3 Million
Market Forecast in 2032
US$ 559.1 Million
Market Growth Rate 2024-2032
6.37%
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.
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global remote deposit capturemarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, deployment and enterprises.
Breakup by Component:
Solution
Service
Breakup by Deployment:
On-premises
Cloud-based
Breakup by Enterprises:
Small and Medium-sized Enterprises (SMEs)
Large Enterprises
Breakup by Region:
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
2023
Historical Period
2018-2023
Forecast Period
2024-2032
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$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
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)
Key Questions Answered in This Report
The global remote deposit capture market was valued at US$ 315.3 Million in 2023.
We expect the global remote deposit capture market to exhibit a CAGR of 6.37% during 2024-2032.
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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