Pune, India, June, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Passenger Service System Market Research Report.
Passenger Service System Market – Overview
The rise in the number of aircrafts operating in the travel sector has augmented the demand for passenger service systems consequently. Market focused reports associated to the Information and Communications Technology industry among others recently have been made accessible by Market Research Future which issues reports on this industry. The passenger service system market globally is estimated to achieve revenues worth USD 10 billion by the year 2023 while growing at a CAGR of 11% approximately in the forecast period.
A significant rise in the number of air travelers has raised the need for agile and diverse passenger service systems by airlines around the world. The demand for more amenities by travelers when they decide to travel has improved the technologies that are powering the passenger service systems in the market. The intensifying adoption rate of cloud technologies is fuelling the expansion of the passenger service system markets. The demand for additional ancillary offerings is motivating increased adoption of PSS by airlines thereby fuelling market growth.
The market for passenger service system is segmented into deployment, service, solution, and region. The deployment segment is segmented into on-premise and cloud. The segmentation on the basis of service comprises of airline inventory system, departure control system, airport management consulting, airline reservation system, loyalty system, internet booking system, ancillary services, customer care system and others. The segments on the basis of solution include loyalty management, inventory management, reservation management, and others. The market spans regions such as Asia Pacific, North America, Europe and rest of the world.
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The passenger service system market on a global scale comprises of the regions such as Europe (Germany, the U.K,) North America (Mexico, the U.S., and Canada), Asia Pacific (Japan, China, and India), and Rest of the World. The North American region is among the leading regions in the world in terms of market stake. The passenger service system market in this region has an enormous demand potential owing to the mounting adoption of consumer electronics devices, which is additionally pushing the market growth to a great extent. The market for passenger service system in the European region is anticipated to observe a speedy growth in the upcoming period. While, the Asia Pacific nations such as Japan, China, and India are developing markets for passenger service systems, which is projected to develop at a maximum CAGR percent in the review period.
Global Competitive Analysis
Securing and translating the likely probabilities is amending the growth pace of the market noticeably. The vital trends and players have initiated a positive tone for development. The options for growth and innovation have improved at a speedy pace altering the landscape of the market. By ensuring supply and demand are in balance the competitors can unlock new opportunities for growth. The key players and trends have created a positive tone for development. The competitors in the market have been urged into devising tactical road-maps that capitalize on the positive market cues. The momentum of the market’s progress has altered the competitive background of the market.
The eminent competitors in the market are Amadeus IT Group SA (Spain), Radixx International, Inc. ( U.S.), Sabre Corp.(U.S.), Intelisys Aviation Systems Inc.(Canada), Hitit Computer Services A.S. (Istanbul), IBS Software Services Pvt. Ltd.(India), Unisys Corp.(U.S.), Sirena-Travel JSCS (Russia), Bravo Passenger Solutions Pte Ltd.( Singapore), Information Systems Associates FZE (UAE), Hexaware Technologies Ltd. (India), SITA NV (Geneva), Travelport Worldwide Ltd.(U.K) and KIU System Solutions (Argentina) among others.
June 2018 Sabre Corporation and Vietnam Airlines have of late announced an extended agreement which reiterates their lasting partnership. The carrier will leverage the coverage of SabreSonic which is Sabre’s passenger service system (PSS) that Vietnam Airlines is currently operating on, to expand its distribution, retailing, and fulfilment capabilities. This distinguished experience will be driven by Sabre's powerful passenger service system, with improved functionalities that will deliver amplified revenue opportunities by modifying offers and experiences to meet the requirements of every traveller. The usage of Sabre's pioneering technology solutions, customers, will witness a seamless experience, from online booking, purchasing ancillaries on websites, check-in, flight searches, and after-sales service.