Passenger Service System Market Trends, Growth And Regional Outlook 2027

 Market Highlights

The surge in the volume of passengers is favoring the growth of the passenger service system market 2020. The semiconductors & electronics industry reports are produced by Market Research Future, which places a spotlight on market options for expansion. 

The Passenger Service System Market Size is expected to grow at USD ~10 billion by the year 2023 at a CAGR of ~11%. 

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Segmentation:

Market Research Future has assessed the global passenger service frameworks market on the basis segments. According to its report, the market for passenger service system has been segmented into service, deployment, region, and solution. The deployment segment has been bifurcated into cloud and on-premise. The classification on the basis of service consists of departure control system, airline inventory system, airline reservation system, airport management consulting, internet booking system, loyalty system, customer care system, ancillary services, and others. The segments on the basis of solution encompass inventory management, loyalty management, reservation management, and others. The market spans across regions such as North America, Asia Pacific, Europe and the rest of the world.

Detailed Regional Analysis

The regional assessment of the passenger service system market encompasses regions such as North America, Europe, Asia Pacific, and the rest of the regions.  The one of the foremost regions in the world is North American region in terms of the market segment. The enormous demand owing to the mounting implementation of customer electronics devices is, additionally, pushing the market of the passenger service system in this region to a massive degree. The European passenger service system market is anticipated to observe a speedy augmentation over the approaching period. While, the Asia Pacific nations such as Japan, China, and India are the rising passenger service system markets, which is likely to develop at the peak CAGR in the forecast period.

Competitive Analysis

Translating and securing the likely probabilities is revising the development pace of the market remarkably. The key players and trends have set an assertive tone for growth. The options for innovation and growth have accelerated at a swift pace altering the arena of the market. By making sure that demand and supply are in balance the rivals can unlock new avenues for development. The key trends and prominent players have developed a positive tone for market expansion. The competitors in the market have been working into devising tactical roadmaps that leverage on the positive market cues. The rate of the market’s growth has transformed the competitive background of the market. The renowned players operating in the market include Radixx International, Inc. ( U.S.), Amadeus IT Group SA (Spain), Sabre Corp.(U.S.), Hitit Computer Services A.S. (Istanbul), Intelisys Aviation Systems Inc.(Canada), Unisys Corp.(U.S.), IBS Software Services Pvt. Ltd.(India), Bravo Passenger Solutions Pte Ltd.( Singapore),  Sirena-Travel JSCS (Russia), Information Systems Associates FZE (UAE),  SITA NV (Geneva), Hexaware Technologies Ltd. (India), KIU System Solutions (Argentina), and Travelport Worldwide Ltd.(U.K) among others.

Industry Updates:

Feb 2020 Amadeus and Lufthansa Group have improved and extended their old technology partnership. Through this contract, Swiss International Air Lines, Austrian Airlines, Lufthansa, Brussels Airlines, and Air Dolomiti will go on to depend on the Altéa Passenger Service System to direct inventory, reservation, ticketing, disruption management at the airport, and departure management.

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Global Passenger Service System Market Research Report: By Service (Airline Reservation System, Airline Inventory System), Deployment (Cloud, On-Premise), Solution (Inventory Management) - Forecast Till 2023

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