Passenger Service System Market Set for 9.4% CAGR Surge by 2032

The global passenger service system market is poised for remarkable growth, with an anticipated Compound Annual Growth Rate (CAGR) exceeding 9.4% from 2022 to 2032, reaching a projected value of US$ 21.9 Billion.

In the fiscal year 2021, the industry achieved a valuation of US$ 7.9 Billion, and it is forecasted to witness a Year-on-Year (Y-o-Y) growth of 12.7% in 2022, reaching US$ 8.9 Billion.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=5850

As the demand for travel escalates among passengers, there is a concerted effort worldwide to develop new technologies and services aimed at enhancing safety, efficiency, and effectiveness within the industry. The surge in international passenger traffic continually generates new demands and prerequisites for ensuring a seamless and secure flow of passengers.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐓𝐫𝐞𝐧𝐝𝐬:

Technological Advancements: Continuous innovation in technology is driving the evolution of passenger service systems. This includes the integration of advanced features such as mobile check-in, self-service kiosks, and biometric authentication, enhancing the overall passenger experience and operational efficiency.

Rising Air Travel Demand: The increasing demand for air travel, fueled by factors such as growing disposable income, expanding middle-class population, and rising international tourism, is driving the growth of the PSS market. Airlines are investing in modernizing their passenger service systems to accommodate the growing number of passengers and improve service delivery.

Focus on Personalization: Airlines are increasingly adopting personalized approaches to passenger services to enhance customer satisfaction and loyalty. Advanced PSS solutions enable airlines to collect and analyze passenger data to offer tailored services, such as personalized offers, seat preferences, and in-flight entertainment options.

Shift towards Cloud-Based Solutions: There is a growing trend towards cloud-based PSS solutions due to their scalability, flexibility, and cost-effectiveness. Cloud-based platforms enable airlines to access real-time data, streamline operations, and adapt to changing market dynamics more efficiently compared to traditional on-premises systems.

Integration of Ancillary Services: Airlines are leveraging PSS platforms to upsell ancillary services such as baggage fees, seat upgrades, and in-flight amenities. Integrated PSS solutions enable airlines to offer a seamless booking and purchasing experience for passengers, resulting in increased revenue streams and improved profitability.

Enhanced Security and Compliance: With the increasing focus on security and regulatory compliance in the aviation industry, PSS vendors are developing solutions that incorporate robust security features and ensure compliance with industry standards and regulations. This includes measures to safeguard passenger data, prevent unauthorized access, and mitigate cybersecurity risks.

Expansion of Low-Cost Carriers (LCCs): The rapid growth of low-cost carriers worldwide is driving demand for cost-effective and efficient PSS solutions. LCCs are increasingly adopting modern PSS platforms to support their business models, which prioritize operational efficiency, simplified booking processes, and competitive pricing.

Emergence of New Distribution Channels: PSS vendors are exploring new distribution channels and partnerships to expand their market reach and offer innovative services to airlines and passengers. This includes collaboration with travel agencies, online travel agents (OTAs), and global distribution systems (GDS) to enhance booking and distribution capabilities.

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
• Travel Technology Interactive
• Information Systems Associates FZE
• ACCELAero
• Travelport Worldwide Ltd.
• KIU System Solutions
• Travelsky Technology Ltd.
• Sirena Travel JSCS

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

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.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝 𝐢𝐧 𝐏𝐚𝐬𝐬𝐞𝐧𝐠𝐞𝐫 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭

• 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

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://www.factmr.com/report/passenger-service-system-market

𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭:

Ticketing Solution Market: https://www.factmr.com/report/1863/ticketing-solution-market

Cloud Computing Market: https://www.factmr.com/report/cloud-computing-market

Public Cloud System Infrastructure Service Market:
https://www.factmr.com/report/public-cloud-system-infrastructure-service-market

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