Dublin, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The "Passenger Service System (PSS) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 to 2028" report has been added to ResearchAndMarkets.com's offering.
This report on the global passenger service system (PSS) market studies various types of service and geography. Passenger Service Systems (PSS) has become one of the vital parts of the airline industry's IT landscape.
With the growing popularity of air travel up to 2019, PSS systems were being re-shaped by market stakeholders according to the changing industry requirements, technology upgrades, and shifts in business strategy. According to our research, the global passenger service system (PSS) market has observed a significant rise in its valuation, especially in the last five years until 2019 with various services such as the presence of augmented reality (AR), home tagging for luggage, and the artificial intelligence (AI) for customer service.
However, with the onset of the COVID-19 pandemic, air travel for both business and leisure purposes has taken a severe hit. According to the International Air Transport Association (IATA), global air traffic is expected to fall by 66% as compared to 2019. In addition, lockdowns and travel restrictions during the summer season of 2020 proved to be a major blow to the air travel industry thereby, resulting in losses even in the most profitable months of the year.
Factors such as public safety, travel restrictions, and economic downturn are expected to result in lower air travel in the following years. Thereby, the market for PSS is expected to witness lower market value during the period from 2020 to 2028 as compared to its pre-COVID-19 peak in 2019.
For the purpose of this study, the various types of services considered are airline reservation systems, customer care systems, departure control systems, airport management consulting, airline inventory systems, loyalty systems, Internet booking systems, and ancillary services.
Market size estimates and forecasts for these segments for the period 2018 to 2028 are provided in terms of USD Mn along with the respective CAGRs for the period 2020 to 2028, considering 2019 as the base year.
In 2019, North America was observed as the largest PSS market due to key driving factors such as its one of the most matured airline markets, availability of a number of established airline operators, digitally upgraded infrastructure, and increasing public awareness associated with airline reservation systems and other services.
During the forecast period 2020 - 2028, Asia-Pacific is expected to be the fastest-growing PSS market due to higher air travel demand from countries such as China and India. Moreover, rising customer awareness related to user-friendly airline ticket booking facilities and the rising tourism industry in South East Asia are also considered as the key factors assisting the increase in demand for PSS.
Key Topics Covered:
Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Research Methodology
Chapter 2 Executive Summary
2.1 Global Passenger Service System (PSS) Market Portraiture
2.2 Global Passenger Service System (PSS) Market, by Type of Service, 2019 (USD Mn)
2.3 Global Passenger Service System (PSS) Market, by Geography, 2019 (Value %)
Chapter 3 Global Passenger Service System (PSS) Market Overview
3.1 Overview
3.2 Market Drivers
3.3 Market Restraints
3.4 Market Opportunities
3.5 Attractive Investment Proposition
3.6 Market Competition Assessment: Passenger Service System (PSS), by Key Players
Chapter 4 Global Passenger Service System (PSS) Market, By Service
4.1 Preface
4.2 Airline Reservation System
4.3 Customer Care System
4.4 Departure Control System
4.5 Airport Management Consulting
4.6 Airline Inventory System
4.7 Loyalty System
4.8 Internet Booking System
4.9 Ancillary Services
Chapter 5 Global Passenger Service System (PSS) Market, By Geography
Chapter 6 Company Profiles
- 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
- Travelsky Technology Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/vm475j
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