Passenger Service System (PSS) Market - Growth, Future Prospects and Competitive Analysis, 2017 - 2025, the passenger service system market was valued at USD 7,765.3 Mn in 2017, and is expected to reach USD USD 18,927.0 Mn by 2025, expanding at a CAGR of 11.8% from 2017 to 2025.
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Market Insights
For efficient management of an airline front-end operations especially related with passengers requires a suite of solutions known as passenger service system (PSS).
The key passenger services provided by PSS solution suite comprises online booking, customer care, reservation, loyalty, and check-in & check-out status. According to market experts, in the coming years there will be high demand for passenger service system due to the developing commercial aviation infrastructure in developing countries and rising number of passengers opting for air travel. Increasing market entry of new medium and small scaled airline operators across Asia Pacific, MEA and South America region is anticipated to rise the adoption of passenger service system.
The airline industry has become more aware about re-defining customer experience in order to increase the value of each passenger.
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The information technology has been considered as the cost center at most airlines and airports both private and public airline operators are trying overcome challenges by achieving balance in investments and returns. The key factors expected to assist the market over the next few years are the increasing need for core passenger service solutions, departure control systems, involving airline reservation systems, and internet booking systems among new medium and low-cost carriers.
In year 2016, it was observed that North America dominated the global PSS market with a market share of 27.2%. The key factors assisting growth of this market are presence of lucrative opportunities for market players, availability of large pool of well-established airline operators, and large number of passengers are boosting the demand for PSS in North America. During the forecast period 2017 - 2025, the Asia Pacific PSS market was observed as the fastest growing region in terms of revenue and growing at significant rate due to rise in the tourism industry in South East Asia and Australia. In Latin America and the Middle East and Africa it was observed that there will be comparatively a stable growth over the next few years, especially due to the market entry of new small and medium airline operators.
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The key players operating in PSS market are Radixx International Inc., Hexaware Technologies Ltd., Bravo Passenger Solutions Pte Ltd., Hitit Computer Services A.S., SITA NV, Unisys Corp., Enoya-one Ltd. (AeroCRS), Sabre Corp., Intelisys Aviation Systems Inc., IBS Software Services Pvt. Ltd., Travelport Worldwide Ltd., Enoya-one Ltd. (AeroCRS), Amadeus IT Group SA, Information Systems Associates FZE, Travel Technology Interactive, Mercator Ltd., KIU System Solutions, Sirena-Travel JSCS, and Travelsky Technology Ltd.
Key Market Movements:
• High demand for passenger service system due to the developing commercial aviation infrastructure in developing countries
• Increasing need for core passenger service solutions
• Presence of lucrative opportunities for market players in developed countries
• Increasing need for core passenger service solutions
• Presence of lucrative opportunities for market players in developed countries
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