Passenger Service System Market Gaining Traction with Growing Number of Business Travels

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 The global passenger service system (PSS) market has large number of players operating the market that are likely to enhance competition in the global market. Leading players in the market are expected to indulge in research and development activities to provide better and enhanced services to their customers. They are also involved in mergers and acquisitions, partnership, and collaboration to strengthen their position in the market. Some of the key leading players in the global passenger service system market are Information Systems Associates FZE, Hexaware Technologies Ltd., Travelport Worldwide Ltd., IBS Software Services Pvt. Ltd., SITA NV, Sabre Corp., Amadeus IT Group SA, and Information Systems Associates FZE.

According to Transparency Market Research, the global passenger service system market is expected to generate US$11.52 bn by the end of 2024 progressing from US$4.3 bn earned in 2015. During the forecast period between 2016 and 2024, the market is projected to rise at staggering CAGR of 11.8%.
On the basis of service offered, the airline reservation system segment is expected to dominate the global market during the forecast tenure. In 2015, this segment held 27.8% share in the market. The reason behind the growth of this segment is increasing number of small and medium airline operators. Based on geography, Asia Pacific is expected to offer lucrative growth opportunities and drive the demand in this market. During the forecast period, this region is anticipated to rise at 13% CAGR.

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ng out airline operations that are related with passengers enquire. It further comprises of customer care, reservation, check-in & check-out status, online booking, and loyalty. Over the coming years, the demand for passenger service systems is likely to increase owing to the developing commercial aviation infrastructure mainly in the developed economies. In addition, growing preference to travel by air and increasing business travels with-in and outside the country are also expected to provide a fillip to the market. Departure control system, airline reservation system, and internet booking system are also predicted to contribute to generate higher revenue for the passenger service system (PSS) market in the near future.

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