Press release
Passenger Service System Market worth US$ 11.523 bn by 2024
As per a report by Transparency Market Research, the global passenger service system (PSS) market will likely expand at a robust 11.8% CAGR between 2016 and 2024 to become worth US$ 11.523 bn by 2024 from US$4.315 bn in 2015.
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https://www.transparencymarketresearch.com/passenger-service-system-market.html
Depending upon the various services offered, the global passenger service system (PSS) market can be segmented into airline inventory system, internet booking system, airline reservation system, airport management consulting, loyalty system, departure control system, ancillary services, and customer care system.
Among them, the airline reservation system segment accounted for maximum share of 27.8% in 2015. Mainly driving the growth in this segment is the high uptake among medium and small airline operators.
Geographically, the key segments of the global passenger service system (PSS) market are North America, South America, Asia Pacific, Europe, and the Middle East and Africa.
Asia Pacific, of them, is slated to expand its share at a healthy clip and contribute to the market substantially, in the forecast period. As per the TMR report, the market is Asia Pacific will likely rise at a CAGR of 13.0% between 2016 and 2024.
Growing Number of Airline Operators Drive Market
Passenger Service System (PSS) is a clutch of solutions that enables efficient management of an airline front-end operation by managing passenger related activities.
It is basically a communication system that offers services to passengers such as loyalty, customer care, online booking, reservation, and check-in and check-out status in real-time.
“Increasing spending capacity of the middle-class population and the rise in number of airline operators is slated to provide a fillip to the demand for passenger service system in the coming years. Passenger service system helps airline operators to quickly monetize their offering and further generate revenue from non-core assets,” explains the lead analyst of the report.
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https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=22676
At present, numerous passenger service system (PSS) providers are offering non-core PSS solution such as ancillary service, loyalty system and customer care system in response to demand from airline operators. In addition, some PSS providers are also providing airport management consulting solution to satisfy demand for smart airport offering.
“Market is at an interesting cusp where players are coming up with new platforms and new technologies to facilitate better services to customers,” adds the lead analyst of the TMR report.
The demand for better PSS solutions such as home tagging for luggage, presence of augmented reality (AR), and artificial intelligence for customer service are expected to contribute to the growth of PSS solution over the forecast period. Growing penetration of the internet is another major factor boosting the global passenger service system (PSS) market.
Get TOC @ https://www.transparencymarketresearch.com/report-toc/22676
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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