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Magnetic Ink Character Recognition (MICR) Devices Market

Magnetic Ink Character Recognition (MICR) Devices Market (Technology: MICR Printing [Ribbon Encoding Services and Non-Impact MICR Printing] and Recognition Technology [Waveform Readers, Matrix Readers, Optical Readers, Dual Magnetic Readers, and Hybrid Device]; and End-user: Banks and Financial Institutes, Government Agencies, and Business Organizations) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Several Winning Strategies Adopted by Market Players During Covid-19 Pandemic

The global financial crisis caused by the threatening COVID-19 pandemic has negatively affected the magnetic ink character recognition (MICR) devices market similar to other industries. Manufacturers operating in the magnetic ink character recognition (MICR) devices market are trying to overcome the disruptions caused due to forced lockdown and shutting down of businesses. Companies are re-establishing their businesses by adopting innovative strategies to address challenges in the global magnetic ink character recognition (MICR) devices market. Technical advancement in the MICR help manufacturers to develop MICR devices to enhance productivity. The increasing demand for magnetic ink character recognition devices in the banking industry for check processing and reading data on other financial documents boost the global market amid the coronavirus pandemic. There are constantly evolving techniques to rapidly read and record financial documents and enhance security with the help of magnetic ink and innovative fonts.

magnetic ink character recognition (micr) devices market infographic

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Advanced Technologies Accelerating Growth Potential of MICR Devices

The magnetic ink character recognition (MICR) devices market is expected to reach US$ 664.58 Mn by 2031. The increasing adoption and awareness of advanced printing technologies in developing countries is driving the demand for MICR devices. Technological growth and emerging trends in the IT sector are creating fruitful opportunities for the market players to improve performance and quality of prints. Companies are developing cost-effective MICR devices to reduce the risk of damage, while processing important documents. MICR market players are launching innovative printing solutions based on the MICR technology. The MICR devices are increasingly being used in the BFSI industry to read and scan the printed information into a data collection device.

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Demand for MICR Devices in Bank & Financial Institutions

Digitalization and technical advancements demand need of security services to minimize frauds in banking operations, transaction processes, etc. The increasing demand for secure document processing in banks and financial organizations fuels the global magnetic ink character recognition (MICR) devices market growth. Magnetic ink character recognition devices offer efficient document management, enhance security, data protection, accuracy, etc. However, all the MICR printing fonts should be according to the guidelines of the American National Standards Institute (ANSI). Rising cybercriminals across the globe demand efficient security measures to protect valuable documents and transaction details for such threats. Thus, manufacturers operating in the magnetic ink recognition (MICR) devices market are witnessing potential revenue opportunities.

Increasing Competition among Market Players and Overcoming Challenges

Apollo Electronics Co., Ltd., Canon, Inc., Maverick International, Fujifilm Holdings Corporation, Digital Check Corporation, and Xerox Corporation are some of the key players operating in the global magnetic ink character recognition (MICR) devices market. The increasing competition among these players is create value-grab opportunities in the market. Due to the rising demand for MICR devices in healthcare, transportation, security services, and retail industries, many business leaders are focusing on overcoming challenges to fulfill the surging demand from these industries, which contributes to the market expansion. Owing to the strong presence of top market contributors and adoption of newest technologies in North America, the magnetic ink character recognition (MICR) devices market is expected to grow exponentially.

magnetic ink character recognition (micr) devices market segmentation

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Analysts’ Viewpoint

Increasing applications of magnetic ink character recognition (MICR) devices in banks, financial institutes, and business organizations to recognize characters on printed checks, deposit slips, etc. boost market growth. These devices are helpful in converting printed characters into digital data. Market contributors should target emerging trends in the MICR technology to improve the productivity of such devices. Latest trends and technologies in MICR are creating lucrative opportunities for the market players to stay ahead of the competition. However, high costs of the MICR devices and adoption of advanced payment technologies can hamper the magnetic ink character recognition (MICR) devices market. The MICR technology reduces the risk of fraudulent activities by offering legitimacy and security to important financial documents; hence, it is increasingly being used by banks, government agencies, and financial organizations.

Magnetic Ink Character Recognition (MICR) Devices Market: Overview

  • The latest research report published by Transparency Market Research pertains to the global magnetic ink character recognition (MICR) devices market for the historical period 2016–2020, and the forecast period, 2021-2031. Growing adoption of magnetic ink character recognition (MICR) devices in the BFSI sector is expected to boost the magnetic ink character recognition (MICR) devices market during the forecast period.
  • Magnetic ink character recognition (MICR) devices help to read and scan the information into a data collection device. Rise in penetration of advanced payment methods in various industry verticals is estimated to restrain the growth of the magnetic ink character recognition (MICR) devices market during the forecast period. The use of MICR printing technology in retail, transportation, and healthcare industries helps to develop advance magnetic ink character recognition devices to generate revenue.
  • In terms of revenue, the global magnetic ink character recognition (MICR) devices market is estimated to exceed value of US$ 664.58 Mn by 2031, expanding at a CAGR of 1.5% during the forecast period

Rising Demand for Fast and Secure Document Processing Technology – Key Driver of Magnetic Ink Character Recognition (MICR) Devices Market

  • Document management has evolved as a technology across the world. At present, the optimization of storage, bandwidth, readiness, and accuracy of data are the latest trends in the market. Magnetic ink character recognition devices offer easy retrieval, management, and control of the flow of documents in a secure and efficient manner, including data protection and records management services. Therefore, growing demand for fast and secure document management technology is expected to generate demand for MICR devices around the globe.
  • For instance, retailers commonly use MICR readers to minimize their exposure to check fraud. Government and corporate organizations likewise utilize MICR technology to accelerate the sorting of documents.
  • In addition, magnetic ink character recognition systems deliver a high level of security, since MICR characters must follow a stringent format and use specific iron oxide ink, which makes the documents difficult to forge
  • The American National Standards Institute (ANSI) manages and implements all MICR printing standards. Therefore, all MICR character fonts must adhere to ANSI standards. MICR fonts that do not adhere to these standards are rejected from banks and other financial institutions.
  • In recent years, cases of cybersecurity thefts and cyber-attacks have increased, which are likely to boost the demand for MICR technology during the forecast period
  • Hence, rising demand for fast and secure document processing technology is set to boost the magnetic ink character recognition (MICR) devices market during the forecast period

Growing Adoption of MICR Devices across End-use Industries

  • Adoption of MICR devices across several end-use industries such as healthcare, government, retail, and transportation is expected to drive the magnetic ink character recognition (MICR) devices market across the world. MICR devices are used to encode information in various applications such as sales promotions, credit cards, coupons, airline tickets, deposit tickets, and insurance premium receipts.
  • Furthermore, demand for magnetic ink character recognition (MICR) devices is unceasingly growing from the healthcare industry in order to process physical medical records packed with paper, detailing patient history. Adoption of MICR scanners among healthcare environments is expected to further enhance payment processing operations.
  • Likewise, transportation industries such as airlines and railways are also fueling the demand for MICR devices to print and scan checks, deeds, certificates, and tickets
  • Growing incorporation of advanced technologies help in reducing operating cost of providing banking services, especially in unbanked and rural areas. Besides, printing high-quality MICR output on demand using digital solutions means that organizations can save time and eliminate the costs and risks of storing and transporting preprinted checks and other negotiable documents that can be damaged or stolen.
  • Thus, growing adoption of MICR devices in end-use industries is expected to create lucrative opportunities for the magnetic ink character recognition (MICR) devices market

Magnetic Ink Character Recognition (MICR) Devices Market: Competition Landscape

  • Detailed profiles of providers of quantum computing have been given in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global magnetic ink character recognition (MICR) devices market are
    • Apollo Electronics Co., Ltd.
    • Canon, Inc.
    • Digital Check Corporation
    • Fujifilm Holdings Corporation
    • Glory Global Solutions
    • Kerning Data Systems, Inc.
    • MagTek, Inc.
    • Maverick International
    • Panini S.p.A.
    • RDM Corporation
    • ROTOTYPE S.p.A.
    • Seiko Epson Corporation
    • Source Technologies
    • Troy Group, Inc.
    • Xerox Corporation

Magnetic Ink Character Recognition (MICR) Devices Market: Key Developments

  • Key providers of magnetic ink character recognition (MICR) devices, such as Canon Inc., Seiko Epson Corporation, MagTek Inc., TROY Group, and Xerox Corporation are focusing on product innovation and the development of cost-effective magnetic ink character recognition (MICR) devices to attract more customers. Additionally, players active in providing magnetic ink character recognition (MICR) devices are focusing on inorganic growth strategies such as strategic collaborations and merger & acquisition activities with technology partners to improve their offerings and market reach. Some other key developments in the global magnetic ink character recognition (MICR) devices market are highlighted below:
    • In February 2021, MagTek, Inc., a manufacturer of electronic systems launched the first integrated, rugged magnetic stripe card reader
    • In October 2021, TROY Group, Inc., a provider of on-demand printing solutions entered into a partnership with Loffler Companies, Inc. a managed service provider, to offer MICR check printing solutions
    • In February 2020, Seiko Epson Corporation, a supplier of value-added financial services and payments solutions, launched innovative next generation multifunction teller devices for financial services industry
    • In December 2019, Canon, Inc., a provider of inkjet printers & professional printers entered into partnership with McAfee Corp., an American global computer security software company to expand its printing solutions by increasing endpoint security protection on multifunction printers
  • In the global magnetic ink character recognition (MICR) devices market report, we have discussed individual strategies, followed by company profiles of providers of magnetic ink character recognition (MICR) devices. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global magnetic ink character recognition (MICR) devices market.

Magnetic Ink Character Recognition (MICR) Devices Market Snapshot

Attribute

Detail

Market Size Value in 2020 (Base Year)

US$ 563.66 Mn

Market Forecast Value in 2031

US$ 664.58 Mn

Growth Rate (CAGR)

1.5%

Forecast Period

2021-2031

Quantitative Units

US$ Mn for Value

Market Analysis

Includes market size assessment for the historic period 2016-2010, along with base year and forecast period, in terms of value (US$ Mn). It also provides insights such as regional analysis, opportunity assessment, product development and innovation, and ecosystem analysis.

Competition Landscape
  • Market Share Analysis by Company (2020)
  • Detailed vendor profiling and insights on their key strategies for business growth, along with competition dashboard

Format

Electronic (PDF) + Excel

Market Segmentation
  • Technology
    • MICR Printing
      • Ribbon Encoding Services
      • Non-Impact MICR Printing
    • Recognition Technology
      • Waveform Readers
      • Matrix Readers
      • Optical Readers
      • Dual Magnetic Readers
      • Hybrid Device
  • End-user
    • Banks and Financial Institutes
    • Government Agencies
    • Business Organizations

Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Countries Covered
  • U.S.
  • Canada
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • India
  • Japan
  • ASEAN
  • Saudi Arabia
  • United Arab Emirates
  • South Africa

Companies Profiled
  • Apollo Electronics Co., Ltd.
  • Canon, Inc.
  • Digital Check Corporation
  • Fujifilm Holdings Corporation
  • Glory Global Solutions
  • Kerning Data Systems, Inc. MagTek, Inc.
  • Maverick International
  • Panini S.p.A.
  • RDM Corporation
  • ROTOTYPE S.p.A.
  • Seiko Epson Corporation
  • Source Technologies
  • Troy Group, Inc.
  • Xerox Corporation

Customization Scope

Available upon Request

Pricing

Available upon Request

Magnetic Ink Character Recognition (MICR) Devices Market – Segmentation

TMR’s research study assesses the magnetic ink character recognition (MICR) devices market on the basis of technology, end-user, and region. The report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the magnetic ink character recognition (MICR) devices market.

Technology
  • MICR Printing
    • Ribbon Encoding Services
    • Non-Impact MICR Printing
  • Recognition Technology
    • Waveform Readers
    • Matrix Readers
    • Optical Readers
    • Dual Magnetic Readers
    • Hybrid Device
End-user
  • Banks and Financial Institutes
  • Government Agencies
  • Business Organizations
Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Frequently Asked Questions

What is the Magnetic Ink Character Recognition (MICR) Devices Market size?

Magnetic Ink Character Recognition (MICR) Devices Market is projected to reach US$665.6 mn by the end of the 2025

What is the CAGR for Magnetic Ink Character Recognition (MICR) Devices Market?

Magnetic Ink Character Recognition (MICR) Devices Market is expected to grow at a CAGR of 1.6% during 2021 – 2031

What is the Study Period of Magnetic Ink Character Recognition (MICR) Devices Market?

Magnetic Ink Character Recognition (MICR) Devices Market is studied from 2021 – 2031

Who are the key players in the Magnetic Ink Character Recognition (MICR) Devices Market?

Key vendors in the Magnetic Ink Character Recognition (MICR) Devices Market are ACOM Solutions, Inc., Canon, Inc., Hewlett Packard Company, Epson America, Inc., Murni Solusindo Nusantara, MagTek, Inc., Panini SpA, Rosetta Technologies, Inc., Vertical Infonet Pvt.Ltd., Source Technologies, Troy Group, Inc., Xerox Corporation Ltd, Uniform Industrial Corporation, and ZIH Corp.

Which Region Lead Magnetic Ink Character Recognition (MICR) Devices Market?

Asia Pacific region Takes Lead in the Magnetic Ink Character Recognition (MICR) Devices Market

    1. Preface

        1.1. Market Introduction

        1.2. Market Segmentation

        1.3. Key Research Objectives

    2. Assumptions and Research Methodology

        2.1. Market Taxonomy – Segment Definition

        2.2. Research Methodology

            2.2.1. List of Primary and Secondary Sources

        2.3. Key Assumptions for Data Modelling

    3. Executive Summary - Global Magnetic Ink Character Recognition (MICR) Devices Market

    4. Market Overview

        4.1. Market Definition

        4.2. Technology/ Product Roadmap

        4.3. Market Factor Analysis

            4.3.1. Forecast Factors

            4.3.2. Ecosystem/ Value Chain Analysis

            4.3.3. Market Dynamics (Growth Influencers)

                4.3.3.1. Drivers

                4.3.3.2. Restraints

                4.3.3.3. Opportunities

                4.3.3.4. Impact Analysis of Drivers and Restraints

        4.4. COVID-19 Impact Analysis

            4.4.1. Impact of COVID-19 on the Magnetic Ink Character Recognition (MICR) Devices Market

            4.4.2. End-user Sentiment Analysis: Comparative Analysis on Spending

                4.4.2.1. Increase in Spending

                4.4.2.2. Decrease in Spending

            4.4.3. Short Term and Long Term Impact on the Market

        4.5. Market Opportunity Assessment – by Region (North America/ Europe/ Asia Pacific/ Middle East & Africa/ South America)

            4.5.1. By Technology

            4.5.2. By End-user

        4.6. Competitive Scenario

            4.6.1. List of Emerging, Prominent, and Leading Players

            4.6.2. Major Mergers & Acquisitions, Expansions, Partnership, Contacts, Deals, Etc.

    5. Global Magnetic Ink Character Recognition (MICR) Devices Market and Forecast

        5.1. Market Revenue Analysis (US$ Mn), 2016-2031

            5.1.1. Historic Growth Trends, 2016-2020

            5.1.2. Forecast Trends, 2021-2031

        5.2. Pricing Model Analysis

    6. Global Magnetic Ink Character Recognition (MICR) Devices Market and Forecast, by Technology

        6.1. Key Findings

        6.2. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Forecast, by Technology, 2018 - 2031

            6.2.1. MICR Printing

                6.2.1.1. Ribbon Encoding

                6.2.1.2. Non-Impact MICR Printing

            6.2.2. Recognition Technology

                6.2.2.1. Waveform Readers

                6.2.2.2. Matrix Readers

                6.2.2.3. Optical Readers

                6.2.2.4. Dual Magnetic Readers

                6.2.2.5. Hybrid Device

    7. Global Magnetic Ink Character Recognition (MICR) Devices Market and Forecast, by End-user

        7.1. Key Findings

        7.2. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Forecast, by End-user, 2018 - 2031

            7.2.1. Banks and Financial Institutes

            7.2.2. Government Agencies

            7.2.3. Business Organizations

    8. Global Magnetic Ink Character Recognition (MICR) Devices Market and Forecast, by Region

        8.1. Key Findings

        8.2. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Forecast, by Region, 2018 - 2031

            8.2.1. North America

            8.2.2. Europe

            8.2.3. Asia Pacific

            8.2.4. Middle East & Africa

            8.2.5. South America

    9. North America Magnetic Ink Character Recognition (MICR) Devices Market and Forecast

        9.1. Regional Outlook

        9.2. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Analysis and Forecast (2018 - 2031)

            9.2.1. By Technology

            9.2.2. By End-user

        9.3. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Forecast, by Country, 2018 - 2031

            9.3.1. U.S.

            9.3.2. Canada

            9.3.3. Mexico

    10. Europe Magnetic Ink Character Recognition (MICR) Devices Market and Forecast

        10.1. Regional Outlook

        10.2. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Analysis and Forecast (2018 - 2031)

            10.2.1. By Technology

            10.2.2. By End-user

        10.3. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Forecast, by Country & Sub-region, 2018 - 2031

            10.3.1. Germany

            10.3.2. U.K.

            10.3.3. France

            10.3.4. Spain

            10.3.5. Italy

            10.3.6. Rest of Europe

    11. APAC Magnetic Ink Character Recognition (MICR) Devices Market and Forecast

        11.1. Regional Outlook

        11.2. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Analysis and Forecast (2018 - 2031)

            11.2.1. By Technology

            11.2.2. By End-user

        11.3. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Forecast, by Country & Sub-region, 2018 - 2031

            11.3.1. China

            11.3.2. India

            11.3.3. Japan

            11.3.4. ASEAN

            11.3.5. Rest of Asia Pacific

    12. Middle East & Africa (MEA) Magnetic Ink Character Recognition (MICR) Devices Market and Forecast

        12.1. Regional Outlook

        12.2. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Analysis and Forecast (2018 - 2031)

            12.2.1. By Technology

            12.2.2. By End-user

        12.3. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Forecast, by Country & Sub-region, 2018 - 2031

            12.3.1. Saudi Arabia

            12.3.2. The United Arab Emirates

            12.3.3. South Africa

            12.3.4. Rest of Middle East & Africa

    13. South America Magnetic Ink Character Recognition (MICR) Devices Market and Forecast

        13.1. Regional Outlook

        13.2. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Analysis and Forecast (2018 - 2031)

            13.2.1. By Technology

            13.2.2. By End-user

        13.3. Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Forecast, by Country & Sub-region, 2018 - 2031

            13.3.1. Brazil

            13.3.2. Argentina

            13.3.3. Rest of South America

    14. Competition Landscape

        14.1. Market Competition Matrix, by Leading Players

        14.2. Market Revenue Share Analysis (%), by Leading Players (2020)

    15. Company Profiles

        15.1. Apollo Electronics Co., Ltd.

            15.1.1. Business Overview

            15.1.2. Product Portfolio

            15.1.3. Geographical Footprint

            15.1.4. Revenue and Strategy

        15.2. Canon, Inc.

            15.2.1. Business Overview

            15.2.2. Product Portfolio

            15.2.3. Geographical Footprint

            15.2.4. Revenue and Strategy

        15.3. Digital Check Corporation

            15.3.1. Business Overview

            15.3.2. Product Portfolio

            15.3.3. Geographical Footprint

            15.3.4. Revenue and Strategy

        15.4. Fujifilm Holdings Corporation

            15.4.1. Business Overview

            15.4.2. Product Portfolio

            15.4.3. Geographical Footprint

            15.4.4. Revenue and Strategy

        15.5. Glory Global Solutions

            15.5.1. Business Overview

            15.5.2. Product Portfolio

            15.5.3. Geographical Footprint

            15.5.4. Revenue and Strategy

        15.6. Kerning Data Systems, Inc.

            15.6.1. Business Overview

            15.6.2. Product Portfolio

            15.6.3. Geographical Footprint

            15.6.4. Revenue and Strategy

        15.7. MagTek, Inc.

            15.7.1. Business Overview

            15.7.2. Product Portfolio

            15.7.3. Geographical Footprint

            15.7.4. Revenue and Strategy

        15.8. Maverick International

            15.8.1. Business Overview

            15.8.2. Product Portfolio

            15.8.3. Geographical Footprint

            15.8.4. Revenue and Strategy

        15.9. Panini S.p.A.

            15.9.1. Business Overview

            15.9.2. Product Portfolio

            15.9.3. Geographical Footprint

            15.9.4. Revenue and Strategy

        15.10. RDM Corporation

            15.10.1. Business Overview

            15.10.2. Product Portfolio

            15.10.3. Geographical Footprint

            15.10.4. Revenue and Strategy

        15.11. ROTOTYPE S.p.A.

            15.11.1. Business Overview

            15.11.2. Product Portfolio

            15.11.3. Geographical Footprint

            15.11.4. Revenue and Strategy

        15.12. Seiko Epson Corporation

            15.12.1. Business Overview

            15.12.2. Product Portfolio

            15.12.3. Geographical Footprint

            15.12.4. Revenue and Strategy

        15.13. Source Technologies

            15.13.1. Business Overview

            15.13.2. Product Portfolio

            15.13.3. Geographical Footprint

            15.13.4. Revenue and Strategy

        15.14. Troy Group, Inc.

            15.14.1. Business Overview

            15.14.2. Product Portfolio

            15.14.3. Geographical Footprint

            15.14.4. Revenue and Strategy

        15.15. Xerox Corporation

            15.15.1. Business Overview

            15.15.2. Product Portfolio

            15.15.3. Geographical Footprint

            15.15.4. Revenue and Strategy

    16. Key Takeaways

    List of Tables

    Table 1: Acronyms Used in Magnetic Ink Character Recognition (MICR) Devices Market

    Table 2: North America Magnetic Ink Character Recognition (MICR) Devices Market Revenue Analysis, by Country, 2021 - 2031 (US$ Mn)

    Table 3: Europe Magnetic Ink Character Recognition (MICR) Devices Market Revenue Analysis, by Country, 2021 - 2031 (US$ Mn)

    Table 4: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Revenue Analysis, by Country, 2021 - 2031 (US$ Mn)

    Table 5: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Revenue Analysis, by Country, 2021 and 2031 (US$ Mn)

    Table 6: South America Magnetic Ink Character Recognition (MICR) Devices Market Revenue Analysis, by Country, 2021 - 2031 (US$ Mn)

    Table 7: Mergers & Acquisitions, Expansions (1/3)

    Table 8: Mergers & Acquisitions, Expansions (2/3)

    Table 9: Mergers & Acquisitions, Expansions (3/3)

    Table 10: Global Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Technology, 2018 – 2031

    Table 11: Global Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by End-user, 2018 – 2031

    Table 12: Global Magnetic Ink Character Recognition (MICR) Devices Market Volume (US$ Mn) Forecast, by Region, 2018 – 2031

    Table 13: North America Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Technology, 2018 – 2031

    Table 14: North America Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by End-user, 2018 – 2031

    Table 15: North America Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Country, 2018 - 2031

    Table 16: U.S. Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 17: Canada Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 18: Mexico Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 19: Europe Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Technology, 2018 – 2031

    Table 20: Europe Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by End-user, 2018 – 2031

    Table 21: Europe Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Country, 2018 - 2031

    Table 22: Germany Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 23: U.K. Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 24: France Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 25: Spain Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 26: Italy Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 27: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Technology, 2018 – 2031

    Table 28: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by End-user, 2018 – 2031

    Table 29: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Country, 2018 - 2031

    Table 30: China Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 31: India Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 32: Japan Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 33: ASEAN Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 34: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Technology, 2018 – 2031

    Table 35: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by End-user, 2018 – 2031

    Table 36: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Country, 2018 - 2031

    Table 37: Saudi Arabia Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 38: Kuwait Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 39: United Arab Emirates Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 40: South Africa Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 41: South America Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Technology, 2018 – 2031

    Table 42: South America Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by End-user, 2018 – 2031

    Table 43: South America Magnetic Ink Character Recognition (MICR) Devices Market Value (US$ Mn) Forecast, by Country, 2018 - 2031

    Table 44: Brazil Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 45: Argentina Magnetic Ink Character Recognition (MICR) Devices Market Revenue CAGR Breakdown (%), by Growth Term

    Table 46: Apollo Electronics Co., Ltd. Product Portfolio

    Table 47: Canon, Inc. Product Portfolio

    Table 48: Digital Check Corporation Product Portfolio

    Table 49: Fujifilm Holdings Corporation Product Portfolio

    Table 50: Glory Global Solutions Product Portfolio

    Table 51: Kerning Data Systems, Inc. Product Portfolio

    Table 52: MagTek, Inc. Product Portfolio

    Table 53: Maverick International Product Portfolio

    Table 54: Panini S.p.A. Product Portfolio

    Table 55: RDM Corporation Product Portfolio

    Table 56: ROTOTYPE S.p.A. Product Portfolio

    Table 57: Seiko Epson Corporation Corporation Product Portfolio

    Table 58: Source Technology Product Portfolio

    Table 59: TROY Group, Inc. Product Portfolio

    Table 60: Xerox Corporation Product Portfolio

    List of Figures

    Figure 1: Global Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn) Forecast, 2018–2031

    Figure 2: Global Magnetic Ink Character Recognition (MICR) Devices Market Revenue (US$ Mn) Opportunity Assessment, by Region, 2021E

    Figure 3: Top Segment Analysis of Magnetic Ink Character Recognition (MICR) Devices Market

    Figure 4: Global Magnetic Ink Character Recognition (MICR) Devices Market Revenue (US$ Mn) Opportunity Assessment, by Region, 2031F

    Figure 5: Global Magnetic Ink Character Recognition (MICR) Devices Market Attractiveness Assessment, by Technology

    Figure 6: Global Magnetic Ink Character Recognition (MICR) Devices Market Attractiveness Assessment, by End-user

    Figure 7: Global Magnetic Ink Character Recognition (MICR) Devices Market Attractiveness Assessment, by Region

    Figure 8: Global Magnetic Ink Character Recognition (MICR) Devices Market Revenue (US$ Mn) Historic Trends, 2016 - 2020

    Figure 9: Global Magnetic Ink Character Recognition (MICR) Devices Market Revenue Opportunity (US$ Mn) Historic Trends, 2016 - 2020

    Figure 10: Global l Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2021

    Figure 11: Global Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Com, 2031

    Figure 12: Global Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Solution, 2021 – 2031

    Figure 13: Global Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Services, 2021 – 2031

    Figure 14: Global Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2021

    Figure 15: Global Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2031

    Figure 16: Global Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Banks and Financial Institutes, 2021 – 2031

    Figure 17: Global Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Government Agencies, 2021 – 2031

    Figure 18: Global Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Business Organizations, 2021 – 2031

    Figure 19: Global Magnetic Ink Character Recognition (MICR) Devices Market Opportunity (US$ Mn), by Region

    Figure 20: Global Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Share (%), by Region, 2021–2031

    Figure 21: Global Magnetic Ink Character Recognition (MICR) Devices Market Size (US$ Mn), by Region, 2021 & 2031

    Figure 22: Global Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Region, 2021

    Figure 23: Global Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Region, 2031

    Figure 24: North America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), 2021 – 2031

    Figure 25: Europe Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), 2021 – 2031

    Figure 26: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), 2021 – 2031

    Figure 27: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), 2021 – 2031

    Figure 28: South America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), 2021 – 2031

    Figure 29: North America Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by End-user

    Figure 30: North America Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by Technology

    Figure 31: North America Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by Country

    Figure 32: North America l Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2021

    Figure 33: North America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2031

    Figure 34: North America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by MICR Printing, 2021 – 2031

    Figure 35: North America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Recognition Technology, 2021 – 2031

    Figure 36: North America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2021

    Figure 37: North America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2031

    Figure 38: North America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Banks and Financial Institutes, 2021 – 2031

    Figure 39: North America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Government Agencies, 2021 – 2031

    Figure 40: North America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Business Organization, 2021 – 2031

    Figure 41: North America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Country, 2021

    Figure 42: North America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Country, 2031

    Figure 43: U.S. Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 44: Canada Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 45: Mexico Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 46: Europe Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by End-user

    Figure 47: Europe Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by Technology

    Figure 48: Europe Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by Country

    Figure 49: Europe l Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2021

    Figure 50: Europe Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2031

    Figure 51: Europe Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by MICR Printing, 2021 – 2031

    Figure 52: Europe Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Recognition Technology, 2021 – 2031

    Figure 53: Europe Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2021

    Figure 54: Europe Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2031

    Figure 55: Europe Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Banks and Financial Institutes, 2021 – 2031

    Figure 56: Europe Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Government Agencies, 2021 – 2031

    Figure 57: Europe Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Business Organization, 2021 – 2031

    Figure 58: Europe Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Country, 2021

    Figure 59: Europe Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Country, 2031

    Figure 60: U.S. Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 61: U.K. Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 62: France Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 63: Spain Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 64: Italy Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 65: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by End-user

    Figure 66: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by Technology

    Figure 67: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by Country

    Figure 68: Asia Pacific l Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2021

    Figure 69: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2031

    Figure 70: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by MICR Printing, 2021 – 2031

    Figure 71: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Recognition Technology, 2021 – 2031

    Figure 72: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2021

    Figure 73: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2031

    Figure 74: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Banks and Financial Institutes, 2021 – 2031

    Figure 75: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Government Agencies, 2021 – 2031

    Figure 76: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Business Organization, 2021 – 2031

    Figure 77: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Country, 2021

    Figure 78: Asia Pacific Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Country, 2031

    Figure 79: U.S. Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 80: India Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 81: Japan Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 82: ASEAN Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 83: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by End-user

    Figure 84: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by Technology

    Figure 85: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by Country

    Figure 86: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2021

    Figure 87: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2031

    Figure 88: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by MICR Printing, 2021 – 2031

    Figure 89: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Recognition Technology, 2021 – 2031

    Figure 90: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2021

    Figure 91: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2031

    Figure 92: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Banks and Financial Institutes, 2021 – 2031

    Figure 93: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Government Agencies, 2021 – 2031

    Figure 94: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Business Organization, 2021 – 2031

    Figure 95: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Country, 2021

    Figure 96: Middle East & Africa Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Country, 2031

    Figure 97: Saudi Arabia Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 98: Kuwait Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 99: United Arab Emirates Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 100: South Africa Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 101: South America Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by End-user

    Figure 102: South America Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by Technology

    Figure 103: South America Magnetic Ink Character Recognition (MICR) Devices Revenue Opportunity Share, by Country

    Figure 104: South America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2021

    Figure 105: South America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Technology, 2031

    Figure 106: South America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by MICR Printing, 2021 – 2031

    Figure 107: South America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Recognition Technology, 2021 – 2031

    Figure 108: South America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2021

    Figure 109: South America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by End-user, 2031

    Figure 110: South America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Banks and Financial Institutes, 2021 – 2031

    Figure 111: South America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Government Agencies, 2021 – 2031

    Figure 112: South America Magnetic Ink Character Recognition (MICR) Devices Market Absolute Opportunity (US$ Mn), by Business Organization, 2021 – 2031

    Figure 113: South America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Country, 2021

    Figure 114: South America Magnetic Ink Character Recognition (MICR) Devices Market Value Share Analysis, by Country, 2031

    Figure 115: Brazil Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

    Figure 116: Argentina Magnetic Ink Character Recognition (MICR) Devices Market Opportunity Growth Analysis (US$ Mn) Forecast, 2021 – 2031

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Magnetic Ink Character Recognition (MICR) Devices Market

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