DUBLIN, Apr. 28, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/8rqbmq/global_afc) has announced the addition of the "Global AFC Systems Market 2015-2019" report to their offering.
This report covers the present scenario and the growth prospects of the Global Automatic Fare Collection Systems market for the period 2015-2019. To calculate the market size, the report considers revenue generated from the automatic fare collection systems software licenses, applications, services, and support and maintenance.
The outsourcing of AFC solutions is one major trend being witnessed 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.
According to the report, the need for substantial cost reduction among organizations is one of the major drivers in this market. There is growing demand for automated business processes that allow flexibility in changing business conditions. Changing business demands and market environments have put considerable pressure on organizations to reduce costs incurred by human resources. The adoption of AFC solutions helps reduce the operational costs of organizations.
Further, the report states that system integration issues are one of the major challenges in this market. Organizations face difficulties in adopting AFC systems as they are integrated with various components to provide automatic and manual fare collection services. These issues may negatively affect the service providers and the growth of the market.
The Global Automatic Fare Collection Systems market is divided into the following segments based on end-users:
- Government Sector
- Healthcare Sector
- Retail Sector
- Telecommunication Sector
- Education Sector
- Corporate and Commercial Parks
- BFSI Sector
- Construction Sector.
- Thales Group
Other Prominent Vendors
- Busan Transportation
- Caravan KDE
- CCS Challenges Card Systems
- Founder International
- GaoXin Modern Intelligent System
- GRG Banking Equipment
- KML Engineering
- Nanjing Putian Telecommunications
- Nippon Signal
- Samsung SDS
- Sanghai Huahong Jitong Smart Systems
- Sanghai Huaming Intelligent Terminal Equipment
- Sanghai Huateng Software Systems
- ST Electronics
For more information visit http://www.researchandmarkets.com/research/8rqbmq/global_afc
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SOURCE Research and Markets