Global Warranty Management Systems Market Projected to Touch US$30.8 bn by 2022
Global warranty management systems market has been, estimating the market to rise at a CAGR of 12.80% between 2014 and 2022 and reach US$30.8 bn by the end of the forecast period
[UKPRwire, Wed Mar 13 2019] In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Warranty Management Systems Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.
This report provides analysis of the Warranty Management Systems Market growth forecast and market size during the forecast period from 2014 – 2022. Some of the key factors contributing to the expansion of warranty management systems (WMS) market are: growth of manufacturing industry and process improvement. Awareness among manufacturers regarding opportunities to free up cash with incorporation of efficient warranty management systems has significantly contributed to the expansion of WMS market. Furthermore, enhanced supplier recovery, improved cash flow, reduced fraudulent claims and improvement in product quality have given way to immense popularity of warranty management systems.
This research on warranty management systems market provides a complete understanding of how automating the warranty and claims handling has made it easier for manufacturers to address needs of warranty claims at their convenience. The report covers a complete study of numerous factors like drivers, challenges, and expansion opportunities that affect the market growth. These factors help the study of numerous trends that impact the growth of warranty management systems market during the forecast period from 2014 - 2020. The report includes a widespread coverage of underlying technological factors that affect the growth of warranty management systems market.
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Warranty management systems market based on the solutions is segmented into: service and software. Based on factors like the security of access, budget for warranty management systems and business specific demands, manufacturers choose a solution in order to cater to their requirements. Depending on the service type, warranty management systems market is classified into-- system integration and consulting, business process outsourcing (BPO) and application development. With increasing research and development of IT industry, the manufacturers are demanding for customized warranty management systems to suit their nature specific demand. With the help of outsourcing, application development and systems integration warranty management vendors are able to fulfill these demands. Furthermore, warranty management systems based on the software deployment model can be segmented into: on-premise and cloud based software. With the increased penetration of internet across different industry verticals from automotive to food and beverages and others, the popularity for both on-premise and cloud based software is on rise. The ease with which cloud based WMS can be accessed and used has increased its adoption among manufacturers worldwide. On the basis of deployment type, the warranty management systems can be segmented into: private, public and hybrid cloud. Private cloud based WMS are popularly being used by manufacturers whose primary interest is to protect their assets and who can afford the installation cost for a private cloud based WMS. On the other hand, public cloud based WMS is gaining immense popularity among small and medium enterprises (SMEs) due to the flexibility with which it can be installed and low cost of installation. Hybrid cloud based WMS with the potential of both private and public cloud is gaining momentum. Warranty management systems based on application are classified into: automotive, industrial equipment, heavy machinery and equipment, HVAC, aerospace and defense, food and beverages, healthcare, communication equipment and others (office equipment, furniture, and apparel).
The demand for the various offering offered by WMS providers for particular industry differs based on in specific industry requirement. Increased investment by warranty management vendors to penetrate within the warranty management systems market to expand its customer base, enhanced modes of processing warranty claims and safe modes of interaction have all contributed to the growth of warranty management systems market, worldwide The report provides a cross-sectional understanding of the warranty management systems market across the globe which includes North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
In addition, the report describes a competitive landscape within the warranty management systems market and describes numerous business strategies taken up by the leading warranty management vendors. In addition, report provides competitive analysis of on-premise and cloud-based warranty management systems. It further explains the growth of each of this market segment within various geographies and the reason for the market growth per region. The report also provides iformation about thr key vendors in company profiles section and the strategies used by them to achieve competitive edge and recent developments along with consolidated revenue generated by each of the companies. Some of the companies profiled in the report include PTC, Inc., Pegasystems, Inc., Tavant Technologies, Inc., SAP SE, Oracle Corporation, Astea International Inc., Zafire Ltd., Snap-on, and Simply Warranty among others.
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The global warranty management systems market is categorized into the following segments:
Warranty Management Systems Market, by Solution
Warranty Management Systems Market, by Type
- System integration and consulting
- Business process outsourcing (BPO)
- Application Maintenance
Warranty Management Systems Market, by Type
- On-premise solutions
- Cloud based solutions
Warranty Management Systems Market, by Deployment
Warranty Management Systems Market, by Application
- Industrial Equipment
- Heavy Machinery and Equipment
- Aerospace and Defense
- Food and Beverages
- Communication Equipment
- Others (office equipment, furniture, and apparel)
Warranty Management Systems Market, by Geography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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