Impact of COVID-19 on Passenger Service System (PSS) Market

The global passenger service system (PSS) market has large number of players operating the market that are likely to enhance competition in the global market. Leading players in the market are expected to indulge in research and development activities to provide better and enhanced services to their customers. They are also involved in mergers and acquisitions, partnership, and collaboration to strengthen their position in the market. Some of the key leading players in the global passenger service system market are Information Systems Associates FZE, Hexaware Technologies Ltd., Travelport Worldwide Ltd., IBS Software Services Pvt. Ltd., SITA NV, Sabre Corp., Amadeus IT Group SA, and Information Systems Associates FZE.

According to Transparency Market Research, the global passenger service system market is expected to generate US.52 bn by the end of 2024 progressing from US.3 bn earned in 2015. During the forecast period between 2016 and 2024, the market is projected to rise at staggering CAGR of 11.8%.

On the basis of service offered, the airline reservation system segment is expected to dominate the global market during the forecast tenure. In 2015, this segment held 27.8% share in the market. The reason behind the growth of this segment is increasing number of small and medium airline operators. Based on geography, Asia Pacific is expected to offer lucrative growth opportunities and drive the demand in this market. During the forecast period, this region is anticipated to rise at 13% CAGR.

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Growing Preference to Travel By Air to Propel Passengers Service System Market

The demand for passenger service system has grown significantly as this service helps in easing out airline operations that are related with passengers enquire. It further comprises of customer care, reservation, check-in & check-out status, online booking, and loyalty. Over the coming years, the demand for passenger service systems is likely to increase owing to the developing commercial aviation infrastructure mainly in the developed economies.

In addition, growing preference to travel by air and increasing business travels with-in and outside the country are also expected to provide a fillip to the market. Departure control system, airline reservation system, and internet booking system are also predicted to contribute to generate higher revenue for the passenger service system (PSS) market in the near future.

Increasing Number of Small and Medium Airline Operators to Fuel Market’s Growth

Developed economies are the key regions that are driving the demand for the passenger service system market. The market has earned largest revenue from these regions because of the presence of multiple airline operators in these regions. Growing demand for passenger service system and rising preference of passengers for this service has also benefited the market’s growth. However, increasing number of small and medium airlines operators in other regions are expected to reduce the share of developed regions. On the other hand, developing regions in Asia Pacific are likely to offer better growth opportunity for the passenger service system market. On the accounts of rising airline journey in countries like Australia, China, and Japan.

The information presented in this review is based on a TMR report, titled “Passenger Service System (PSS) Market (Service – Airline Reservation System, Airline Inventory System, Departure Control System, Internet Booking System, Customer Care System, Loyalty System, Airport Management Consulting, and Ancillary Services) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”