Market Highlights: —
The global market for passenger service system is considered to be oligopolistic by nature; the competition of the market within is moderate finds a new research study by Market Research Future. The presence of only few-established players makes the market highly influenced by creating a valuation of USD 10 billion and is expected to rise high by 2023. The registered CAGR is set to capture of about 11%.
A passenger service system (PSS) makes its presence at the heart of an airline’s IT structure. It is necessarily a solution to creating a system to enable efficient operations for various passenger related issues. At the most, it is a communication system that offers set of services to passengers such as excellent customer service, online booking, reservation of seats, check-ins & check-out status, luggage drops with label printing, self-boarding gates and more in loyal ways.
Growing preferences to travel by air and increasing business travel is accounting the passenger service system market to grow at a substantial rate of CAGR and is also predicted that it will capture a significant position by 2023 at a faster pace. This system, having an efficient reservation system, an inventory system and a departure control system is making it essential to the end-to-end operations for airlines.
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Major Key Players
• Sirena-Travel JSCS (Russia),
• Radixx International, Inc. ( U.S.),
• Hitit Computer Services A.S. (Istanbul),
• Intelisys Aviation Systems Inc.(Canada),
• Bravo Passenger Solutions Pte Ltd.( Singapore),
• Unisys Corp.(U.S.),
• Hexaware Technologies Ltd. (India),
• Travelport Worldwide Ltd.(U.K),
• SITA NV (Geneva),
• Sabre Corp.(U.S.),
• IBS Software Services Pvt. Ltd.(India),
• Information Systems Associates FZE (UAE),
• Amadeus IT Group SA (Spain),
• Travel Technology Interactive (France),
• Mercator Ltd.(India),
• Travelsky Technology Ltd. (China),
• KIU System Solutions (Argentina),
According to the Market Research Future Analysis, the global passenger service system market is expected to reach USD ~10 billion by the end of the forecast period at a CAGR of ~11%.
Sabre Corporation and Vietnam Airlines had an announcement on an extended agreement that reiterated their lasting partnership. The carrier leveraged the coverage of SabreSonic which is Sabre's passenger service system (PSS) that Vietnam Airlines operated on, to expand its distribution, retailing, and fulfillment capabilities. This unique experience was driven by Sabre’s powerful passenger service system, with improved functionalities that delivered amplified revenue opportunities by modifying offers and skills to meet the requirements of every traveler. The usage of Sabre’s pioneering technology solutions, customers, hence witnessed a seamless experience, from online booking, purchasing ancillaries on websites, check-in, flight searches, and after-sales service.
According to MRFR’s report, the global passenger service system market is segmented by service, deployment, solution, and region.
By service, the market has been segmented into airline reservation system, airline inventory system, departure control system, internet booking system, loyalty system, customer care system, airport management consulting, ancillary services, and others.
By deployment segment, the market is sub-segmented into cloud and on-premise.
By solution segment, the market has sub-segments which includes inventory management, loyalty management, reservation management, and others.
In MRFR’s report, the market of passenger service system market is spanned across regions including North America, Europe, Asia Pacific, and the rest of the world.
Among them, North America is leading the world in terms of passenger service system market share. The owing reasons are enormous demand for the increasing adoption of consumer electronic devices, which is highly propelling the market to grow to a large extent.
Whereas in Europe, the market share for passenger service system is expected to witness rapid growth over the forecast period.
Next comes the Asia-Pacific region that comprises of China, Japan, and India are notable emerging passenger service system market owing to huge air traffic and operators. This is expected to grow the market at the highest CAGR in the years to come.
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• Passenger service system companies
• Passenger service system providers
• Technical universities
• System integrators
• Managed Security Service Providers
• Professional service providers
• Research and development companies
• Market research and consulting firms
• Solution providers
• Technology standards organizations
• Technology investors
• System Integrators
LIST OF TABLES
Table 1 Global Passenger service system Market: By Region, 2017-2023
Table 2 North America Passenger service system Market: By Country, 2017-2023
Table 3 Europe Passenger service system Market: By Country, 2017-2023
Table 4 Asia-Pacific Passenger service system Market: By Country, 2017-2023
Table 5 Middle East & Africa Passenger service system Market: By Country, 2017-2023
LIST OF FIGURES
FIGURE 1 Global Passenger service system Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Passenger service system Market
FIGURE 4 Value Chain of Global Passenger service system Market
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Release ID: 496394