The surge in the volume of passengers is favoring the growth of the passenger service system market 2020. The semiconductors & electronics industry reports are produced by Market Research Future, which places a spotlight on market options for expansion. A USD 10 billion income is likely to be perceived by the year 2023 while developing at a CAGR of 11%.

The escalating population levels and the requirement for additional amenities are anticipated to spur the passenger service system market share. The mounting demand for artificial intelligence and augmented reality is anticipated to bolster the passenger service system market size in the coming period.

In this regard, Market Research Future (MRFR) asserts that the global Passenger Service System Market is poised to register an impressive CAGR during the assessment period (2017 – 2023). MRFR also states that the industry can overcome COVID 19 effects in no time, provided industry players incorporate effective strategies. Implementation of advanced technologies and services offerings could re-establish these businesses.

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Over the last decade, the PSS market has grown dramatically. However, the onset of the COVID-19 pandemic severely hit the passenger service system industry, bringing it to a standstill for more than three months. Most countries imposed social distancing in place with severe travel restrictions, causing significant revenue losses to travel and tourism industries worldwide.

Resultantly, the passenger service system market witnessed huge revenue losses and a decline in total market valuation in 2020. However, the passenger service system market is expected to rebound sooner than later, regaining its previous momentum.

Global Passenger Service System Market - Competitive Analysis

Fiercely competitive, the passenger service system market appears fragmented, with several large and small forming a competitive landscape. These players adopt strategic approaches such as mergers & acquisitions, collaboration, expansion, and new product/technology launches to gain a substantial market share.

Major Players

Players active in the global passenger service system market are Radixx International, Inc. (US), Sirena-Travel JSCS (Russia), Bravo Passenger Solutions Pte Ltd.( Singapore), Intelisys Aviation Systems Inc.(Canada), Unisys Corp. (US), Travelport Worldwide Ltd.(UK), Hexaware Technologies Ltd. (India), SITA NV (Geneva), IBS Information Systems Associates FZE (UAE), Travel Technology Interactive (France), Amadeus IT Group SA (Spain), and KIU System Solutions (Argentina), among others.

Passenger Service System (PSS) Market – Segmentations

The passenger service system market analysis is segmented into services, deployment, solutions, and regions. The service segment is sub-segmented into airline reservation systems, departure control systems, airline inventory systems, internet booking systems, customer care systems, loyalty systems, ancillary services, airport management consulting, and others.

The deployment segment is sub-segmented into on-cloud and on-premise. The solution segment is sub-segmented into loyalty management, inventory management, reservation management, and others.

Global PSS Market – Geographical Analysis

North America dominates the global passenger service system market. The largest market share attributes to the huge demand for PSS systems covering various functions, including flight scheduling, ticket reservation, loyalty program, departure control, and e-commerce. Besides, the rising uptake of mobile booking technology and travel apps drives the region's passenger service system market share.

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Industry/ Innovation/ Related News:

July 21, 2021 --- LOT, a Polish airline company, announced signing a multi-year agreement with Amadeus IT Group, S.A., a major Spanish IT provider for the global travel & tourism industry. The partnership allows LOT to explore the advantages of the Amadeus Airline Platform fully.

The agreement covers a wide range of futuristic solutions related to passenger service systems, airline operations, passenger disruption management, digital experience, revenue management, and merchandising. To reach the world's largest travel sellers network and expand its global footprint, LOT would start to distribute new and tailored content in real-time through the Amadeus Travel Platform.


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