AFC Systems Market in China 2015-2019
About Automatic Fare Collection Systems
Automatic fare collection system is the integration of devices and software that automate the ticketing systems of transportation networks. The system is based on contactless technology and is automated to computation of fare and manually or automatically collection from travellers. The systems consists of automatic or semi-automatic ticket vending machines, automatic entry and exit gates, station and central server. An AFC system helps to improve rate of transaction, provide affordable operations and collect fares more efficiently. In addition, it helps to broaden the customer base for transport systems and establishments, as it provides end-users with easy operations. With the introduction of latest technology such as contactless technology, smartcard, and electronic payment, it helps to lessen the transaction risk and cost associated with handling cash. AFC systems market in China is expected to grow at a much rapid pace with the increased infrastructure investments by the China government in recent years.
TechNavio's analysts forecast the AFC Systems Market in China to grow at a CAGR of 12.04 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the AFC Systems market in China for the period 2015-2019. To calculate the market size, the report considers the AFC Systems market in China, the Global AFC Systems market, revenue generated from enterprise business, software, application, updates, and subscription revenue.
TechNavio's report, AFC Systems Market in China 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes profile of key vendors operating in this market.Key Vendors
Technavio Announces the Publication of its Research Report – AFC Systems Market in China 2015-2019
Technavio recognizes the following companies as the key players in the AFC Systems Market in China: GRG Banking Equipment Co. Ltd., Shanghai Huahong Jitong Smart System Co Ltd., Shanghai Huaming Intelligent Terminal Equipment Co., Ltd. and Shanghai Potevio Co. Ltd.
Other Prominent Vendors in the market are: Advantech, China Academy of Railway Sciences (CARS), China National Software & Service, Chunlan, Cubic Transportation Systems (Beijing), Founder International, GaoXin Modern Intelligent System, Nanjing Thales Panda Transportation System, Samsung SDS China, Shandong New Beiyang Information Technology, Shanghai Huateng Software Systems and Shenzhen Modern Computer Manufacturer
Commenting on the report, an analyst from Technavio’s team said: “Increased adoption of contactless technology in AFC systems is one of the key trends upcoming in this market. The growing adoption and usage of smart cards and contactless technology has opened new opportunities for vendors and users.”
According to the report, the growth in rail traffic is one of the main drivers of the market. China is expanding its railway network across the country, leading to an increased demand for AFC systems. Changes in business demands and market environment have compelled organizations to reduce the cost of human resources in rail divisions.
Further, the report states that additional or unanticipated system requirements pose a major threat to the market. An AFC system needs additional components to provide manual fare collection services, and has integration issues when controlling large infrastructures. These issues may negatively affect service providers and hinder the growth of the market.
GRG Banking Equipment , Shanghai Huahong Jitong Smart System, Shanghai Huaming Intelligent Terminal Equipment, Shanghai Potevio , Advantech, China Academy of Railway Sciences (CARS), China National Software & Service, Chunlan, CubiTransportation Systems (Beijing), Founder International, GaoXin Modern Intelligent System, Nanjing Thales Panda Transportation System, Samsung SDS China, Shandong New Beiyang Information Technology, Shanghai Huateng SoftwareSystems, Shenzhen Modern Computer Manufacturer
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