Passenger Service System (PSS) Market Size, Share, Growth and Industry Analysis by Type (Airline Inventory System, Internet Booking System, Loyalty System, Departure Control System, Airline Reservation System, Customer Care System, And, Other) By Application (Railway, Aviation, And, Other), Regional Forecast to 2031

Updated On: 15 April 2024

PASSENGER SERVICE SYSTEM (PSS) MARKET REPORT OVERVIEW 

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The global passenger service system (PSS) market size was USD 6814 million in 2021 and is projected to touch USD 12852.1 million by 2031, at CAGR of 6.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A passenger service system (PSS) consists of many critical systems of airlines. It also consists of airline reservations systems. It comprises of two more systems namely departure control system and airline reservation system. These systems are in high demand globally. 

Some of the latest technologies that have been integrated in the PSS market are big data analytics, cloud computing and internet of things (IoT). Software defined data centers have also increased. This is considered as the latest trend in the market.

The number of people travelling has increased post the pandemic. Low cost of aviation ticket is also driving international passenger traffic. Urbanization, and increasing average disposable income of people are some other factors that have positively affected the market. All these factors are generating a robust passenger service system (PSS) market growth.

COVID-19 impact: Low Performance of Transportation Sector Decreased Market Growth

The outbreak of pandemic of COVID-19 became the biggest obstacle for transportation market. Due to the outbreak of pandemic, many problems came into existence. One among the biggest problems that occurred during pandemic was lockdowns. Due to lockdowns transportation sector faced a major blow.

People were not allowed to travel even within the country or outside the country. All forms of transportation which include airways, waterways, and, road transportation suffered from low demand due to absence of customers. Lack of passengers resulted in the downfall of passenger service system (PSS) during pandemic. 

LATEST TRENDS

"Growing Prevalence of Software-defined Data Centers to Increase Market Growth"

Software-defined data centers have increased in the recent days. Airport passenger information and private clouds are extensively being adopted.  Cloud-based technologies have changed the dimensions of the market.

Number of people travelling through air has seen a rise recently. Most of the aviation companies have planned to adopt and incorporate advanced software solutions. PSS softwares are very useful in streamlining and automating many operations. This is considered as the latest rend in the market.

PASSENGER SERVICE SYSTEM (PSS) MARKET SEGMENTATION 

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• By Type:

The market can be divided on the basis of type into the following segments:

Airline inventory system, internet booking system, loyalty system, departure control system, airline reservation system, customer care system, and, other. Airline inventory system segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Railway, aviation, and, other. The railway segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Increase in the Number of Travelers Post Pandemic to Accelerate Market Growth"

Post the pandemic, after all the restrictions were lifted the number of people travelling using public transportations increased significantly. The tremendous growth in passenger traffic can fuel the market growth. With the growing number of passengers need for security has also increased.

Low cost of aviation ticket is also driving international passenger traffic. A report provided by the International Civil Aviation Organization (ICAO) estimated that nearly 1.5 billion travelled through flights. Passenger service systems (PSS) also aim at enhancing the experience of travelers by making the travelling systems more efficient.

"Rising Disposable Income in Recent Times to Propel Market Growth "

Growing preference of towards employment has increased the average disposable income of people. Urbanization is another important factor that has influenced people to travel via airlines. People opt to travel in airlines as they cut down a lot of time required for moving from one place to another. 

Another important introduction that has been witnessed in the market is low-cost carriers. Low-cost carriers enable large number of people to travel economically. About one-third of the airline industries have LCCs. Increasing passenger traffic in airlines has contributed to the growth of the market.

RESTRAINING FACTOR

"High Prices of Passenger Service Systems to Decrease Market Growth"

Airlines adopt PSS in order to increase customer satisfaction as they help in avoiding cancelled flights, and extreme turbulence while boarding the flight. However, adopting such softwares and systems can become very costly for the aviation industries.

Another factor that can hamper the market growth is the uncertainty in demand for aviation industry. During pandemic time, the demand for travelling through airlines collapsed suddenly. Such uncertainties and increase in the cost of PSS systems can deteriorate the market growth. 

PASSENGER SERVICE SYSTEM (PSS) MARKET REGIONAL INSIGHTS 

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"Asia Pacific to Dominate Market Share in Upcoming Years"

Asia Pacific is predicted to witness a tremendous growth during the forecast period. It has occupied the largest market share. China and India are the two major markets of the passenger service systems. The growing per capita income of people in this region has increased the umber of customers for the aviation industry.

Many other countries in this region are planning to construct airports. Most of the aviation companies integrate passenger service systems to improve the experience of the passengers. Many technologies like cloud-computing and Internet of Things (IoT) have improved the PSS softwares. All o these factors have propelled the passenger service system (PSS) market share in Asia Pacific.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Sirena-Travel JSCS (Russain)
• Mercator Ltd. (India)
• Travelsky Technology Ltd. (China)
• KIU System Solutions. (U.S.)
• Travelport Worldwide Ltd. (U.K.)
• SITA NV (Netherlands)
• Sabre Corp. (U.S.)
• Radixx International, Inc. (India)
• Hitit Computer Services A.S. (Istanbul)
• Amadeus IT Group SA (Spain)
• Travel Technology Interactive (E.U.)
• Unisys Corp. (U.S.)
• Hexaware Technologies Ltd. (India)
• Intelisys Aviation Systems Inc. (Canada)
• Bravo Passenger Solutions Pte Ltd. (Singapore)
• IBS Software Services Pvt. Ltd. (India)
• Information Systems Associates FZE (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.