London, 01 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the AFC Systems Market in China 2015-2019, which is expected to grow at a CAGR of 12.04 percent during the forecast period of 2014-2019.
AFC systems maintain service quality, reduce errors, eliminate confusion in the transaction process, and keep track of the whole transaction process which enhances the overall productivity of the transportation sector. AFC solutions enable enterprises to increase efficiency, ensure proper time management, boost ROI, and ensure effective management of critical data. They lower operational costs, boost revenue, and enhance profitability, fostering the growth of an organization.
“Public transport operators are adopting and investing in electronic media such as smart cards to replace paper-based tickets,” says Faisal Ghaus, Vice President of TechNavio.
“Contactless technology makes the payment process more efficient by reducing missing transactions and lowering operating costs through transaction automation and reporting.”
Key Market Drivers
- Growth in rail traffic volume
- Need for substantial cost reduction
- Increased adoption of modern technologies
- Improved service quality by suppliers and operators
Key Market Trends
- Increased adoption of contactless technology
- High efficiency of IT processes
- Embedding analytics into AFC
- Increased usage of cloud computing and RFID technology
Key Market Vendors
- GRG Banking Equipment Co. Ltd.
- Shanghai Huahong Jitong Smart System Co Ltd.
- Shanghai Huaming Intelligent Terminal Equipment Co., Ltd.
- Shanghai Potevio Co. Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
