Focus on Enhancing User Experience and Ensuring Safe Passenger Flow Creating Lucrative Opportunities for Passenger Service System Providers: Fact.MR Report
Focus on Enhancing User Experience and Ensuring Safe Passenger Flow Creating Lucrative Opportunities for Passenger Service System Providers: Fact.MR Report
The global Passenger Service System Marketis expected to reach US$ 10.52 billion in 2024 and further climb to a value of US$ 24.22 billion by the end of 2034, according to a recently updated research report published by Fact.MR.
The number of people visiting different parts of the world for work and pleasure is continuously rising, which is driving advancements in travel-related technology and services. Leading companies in the passenger service system market are focusing on creating systems that enhance user experience in particular, as well as safety, efficacy, and efficiency. To maintain a seamless and safe passenger flow, there is a growing need for passenger service systems due to the increase in international passenger traffic.
The aviation industry’s growing operational complexity is a key driving force behind the development of novel operations management solutions. These solutions are providing significant opportunities for the market of passenger service systems to grow further.
Leading Players Driving Innovation in the Passenger Service System Market:
The Key Players in the Infant Passenger Service System Industry include Travel Technology Interactive Amadeus IT Group SA; Sabre Corporation; Radixx International, Inc.; KIU System Solutions; Travelsky Technology Ltd.; Unisys Corporation; SITA NV; Travelport Worldwide Ltd.; Bravo Passenger Solutions Pte. Ltd.; Hitit Computer Services A/S; IBS Software; ACCELAero; Sirena Travel JSCS.
Click to Request a Sample of this Report for Additional Market Insights
https://www.factmr.com/connectus/sample?flag=S&rep_id=5850
Passenger Service System Market News & Trends:
Vietnam Airlines successfully implemented Amadeus's upgraded passenger service system (PSS) technology in June 2024, along with a number of other pertinent technological solutions. This demonstrates the carrier's ongoing digital transition.
To improve customer satisfaction and operational efficiency, travel technology behemoth Amadeus delivered its passenger service system to Air India in November 2023. Air India is implementing the entire set of Amadeus Alta PSS (Passenger Service System) components, according to a statement from Amadeus. These include commerce, merchandising, frequent flyer program administration, online, mobile, and revenue accounting and management.
The Airports Authority of India and SITA, a travel and transportation company's technology subsidiary, inked a historic deal in July 2023 to help one of the world's fastest-growing markets by providing technology to 43 of the nation's biggest airports.
Biman will be able to become a digital airline, increase its revenue, and enhance the traveler experience thanks to the implementation of SabreSoni's Passenger Service System in September 2021. The SabreSonic Passenger Service System will be implemented by Biman with the aid of the new contract, enabling them to improve passenger experiences, increase income, and revolutionize their business.
Pulkovo International Airport in St. Petersburg, which handled nearly 20 million passengers in 2019, inaugurated Amadeus Altéa Departure Control for Ground Handlers, a state-of-the-art check-in management system, in December 2021. Airlines can benefit from an integrated check-in system without having to host their systems at Pulkovo Airport thanks to the Amadeus solution's SaaS (software as a service) approach. Ground handling firms will be able to give services to any airline thanks to the Amadeus system's unified, contemporary interface.
Key Takeaways from the Passenger Service System Market Study:
The global passenger service system market is forecasted to expand at an 8.7% CAGR from 2024 to 2034. North America is estimated to hold 33% of the global market share in 2024.
Worldwide sales of software-based passenger service systems are poised to reach US$ 11.14 billion in 2024. The East Asia market is projected to generate revenue worth US$ 6.3 billion by 2034.
The market in Japan is forecasted to expand at a CAGR of 10% from 2024 to 2034. China is set to lead the East Asia market with a 48.9% revenue share in 2024.
“Key trends in the market are advancements in cloud computing, data analytics, and artificial intelligence (AI), which are enhancing the operational capabilities of passenger service systems. This enables airlines to improve customer experiences through real-time updates and personalized services” says a Fact.MR analyst
Preference for Cloud-based Solutions Growing Globally
Cloud-based solutions are in great demand in the passenger service system market due to their flexibility and scalability, which enable airlines and travel agencies to promptly adjust their operations to fluctuating demand and seasonal patterns. Additionally, cloud-based solutions provide cost-effective options for passenger service management because they don't require a lot of on-premises equipment or maintenance.
Cloud-based solutions also offer greater accessibility and real-time data management, which improves customer service and operational effectiveness. Demand for cloud-based passenger service systems is rising as more people choose to work remotely and collaborate virtually. These systems provide reliable connectivity and accessibility from any location.
Get a Custom Analysis for Targeted Research Solutions:
https://www.factmr.com/connectus/sample?flag=S&rep_id=5850
More Valuable Insightson Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the passenger service system market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on component (software, services), service type (airline reservation systems, airline inventory systems, departure control systems, internet booking engine passenger service systems, loyalty layer passenger service systems, customer care layer passenger service systems, airport consulting passenger service systems, ancillary services passenger service systems), and deployment (cloud, on-premise), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Explore More Related Studies Published by Fact.MR Research:
Quantum Cryptography Market stands at a valuation of US$ 930.17 million in 2023. Industry is projected to reach US$ 12.82 billion by 2033.
The Smart Parking Solution Market is expanding from an estimated $6.3 billion in 2024 to a colossal $39.2 billion by 2034, fueled by a CAGR of 20%.
Display Device Market is expanding from an estimated $153.12 billion in 2024 to a colossal $230.52 billion by 2034, fueled by a CAGR of 4.2%.
Interactive Kiosk Market is expanding from an estimated $30.3 billion in 2024 to a colossal $49.4 billion by 2034, fueled by an impressive CAGR of 5%
LED Lighting Solution Market size is estimated at $87,821.5 Mn in 2024 and projected to grow at 10.1% CAGR to accumulate a total of $2,30,156.2 Mn by 2034
Wearable AI Market is anticipated to jump $230 Billion at a CAGR of 27.6% during forecast period. North America held a 39% share of the global market.
The RF-Over-Fiber Solution Market is expanding from an estimated $1,012.8 million in 2024 to a colossal $2,315.6 million by 2034, fueled by an 8.6% CAGR.
Business Process Outsourcing (BPO) Market to surge from $318.8 billion in 2024 to $688.2 billion by 2034, driven by 8% CAGR, marking substantial growth.
A Passenger Service System (PSS) is a software solution used by airlines and travel companies to manage reservations, inventory, and customer services, enhancing the overall travel experience.
Cloud computing is the delivery of computing services over the internet, allowing for flexible resources, faster innovation, and economies of scale without the need for physical hardware.
User experience (UX) refers to the overall experience a user has when interacting with a product or service, focusing on usability, accessibility, and satisfaction.
Market share is the portion of a market controlled by a particular company or product, typically expressed as a percentage of total sales in that market.
CAGR, or Compound Annual Growth Rate, is the rate at which an investment grows annually over a specified period, assuming the profits are reinvested at the end of each period.
Explore more articles in the Research Reports category
