Global Demand for Passenger Service System Expected To Be Valued at US$ 21.9 Billion by 2032

The global passenger service system market is expected to grow at an astonishing CAGR of over 9.4% between 2022 and 2032, expected to be valued at US$ 21.9 Billion.

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In FY 2021, the industry was valued at US$ 7.9 Billion, and is projected to experience a Y-o-Y growth of 12.7% in 2022, reaching US$ 8.9 Billion.

Competitive Landscape

An increase in product functionality is a key reason behind the increasing demand for passenger service systems. Therefore, market players are increasing their R&D spending in order to launch new products in the market. Furthermore, both acquisitions & mergers, collaborations, and regulatory approvals are also crucial components of effective growth.

• In September 2021, Biman implemented SabreSoni's Passenger Service System, which will allow it to transform into a digital airline, grow its revenue and improve the passenger experience. With the help of the new contract Biman will deploy SabreSonic Passenger Service System that will help them transform their business, drive revenue growth, and improve passenger experiences. As part of the deal, Biman has also chosen a number of Sabre solutions as well as renewed its global distribution agreement with Sabre to help meet the demands of modern day travellers, to avail their services across all points of sale, to optimize the acquisition of new customers, to enhance the value of its loyalty program, and to stimulate demand as the high-stakes market recovery gains traction.

• An advanced check-in management system, Amadeus Altéa Departure Control for Ground Handlers, was unveiled in December 2021 at Pulkovo International Airport in St. Petersburg, which welcomed almost 20 million passengers in 2019. The Amadeus solution uses a SaaS (software as a service) model that permits airlines to take advantage of an integrated check-in system without hosting their own systems directly at Pulkovo Airport. The Amadeus system provides a single, modern interface that will allow ground handling companies to offer services to any airline.

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Key Companies Profiled:

• Hitit Computer Services A/S
• Radixx International Inc.
• Bravo Passenger Solutions Pte. Ltd.
• Hexaware Technologies Ltd.
• Intelisys Aviation Systems Inc.
• SITA
• Unisys Corp.
• Sabre Corp.
• IBS Software
• AeroCRS
• Amadeus IT Group SA

" Rising In Global Demand For Passenger Service System"

The global demand for passenger service systems is rising due to the increasing need for efficient and secure transportation services. This is driven by the growing population, urbanization, and the need for improved mobility. Additionally, the rise of digital technologies has enabled the development of more sophisticated and user-friendly systems that can provide a better customer experience.

As a result, more companies are investing in passenger service systems to improve their operations and provide better services to their customers. This is leading to an increase in demand for these systems, as well as an increase in the number of companies offering them.

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Key Segments:

• by Service Type :

o Airline Reservation System
o Airline Inventory System
o Departure Control System
o Internet Booking Engine
o Loyalty Layer
o Customer care Layer
o Airport Consulting
o Ancillary Services

Questionnaire answered in the report include:

• How the industry has grown?
• What is the present and future outlook on the basis of region?
• What are the challenges and opportunities?
• Why the consumption in region?
• In which year segment is expected to overtake segment?

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This release was published on openPR.