- The key vendors in the Global AFC Systems Market 2015-2019 are Cubic Corp., OMRON Corp., Thales Group and Toshiba Corp.
London, 25 March 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global AFC Systems Market 2015-2019. Outsourcing of automatic fare collection solutions is one major trend emerging in the market. The increased adoption and usage of AFC solutions offers new opportunities for vendors. The solution providers have started to outsource services to third-party vendors, who can use the AFC systems to control costs and security. The Global AFC Systems market is expected to grow at a CAGR of 1.39 percent during the period of 2014-2019.
Organizations choose AFC solutions as they upturn efficiency, ensure proper time management, boost ROI, and improve effective management and handling of critical data. Low operational costs and enhanced profitability lead to organizational success.
“AFC system solutions deliver high ROI and increase the overall process efficiency in organizations. AFC system solutions cover the requirements of integration, collaboration, and operations, which help the core fare collection and manual processes and functions to run smoothly,” says Faisal Ghaus, Vice President of Technavio Research.
“The growing demand for efficient productivity and effective delivery of best-in-class business and technology solutions is a driver for the growth of the Global AFC Systems market.”
To define the market conditions 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.
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