Warranty Management System - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Warranty Management System Market is accounted for $2.65 billion in 2018 and is expected to reach $9.99 billion by 2027 growing at a CAGR of 15.9% during the forecast period. Some of the key factors influencing the market growth include increasing competition in automotive and manufacturing industries, rising warranty expenditure, growing demand for mobile & cloud-based solutions, and rising need for automation. However, the lack of qualified and skilled workforce is restricting market growth.
Warranty management includes the management of warranty and post-warranty support. Generally, it includes warranty registration claims submission, claims processing and settlement, fraud detection, returns management, supplier recovery, extended warranty marketing, replacement parts logistics, and inventory management.
Amongst Deployment Type, On-Premise segment is going to have a lucrative growth during the forecast period, as it benefits organizations with increased scalability, speed, and 24/7 service. On-premises deployment is popular mostly in large enterprises where information is very critical for business operations.
By Geography, North America is estimated to grow at the significant rate during the forecast period, due to quick adoption of all the new and emerging technologies and strong financial position of the region. The United States dominates the warranty management system market in the region. The country is witnessing healthy growth due to the rising acceptance of security of the data among small- and medium-scale firms.
Some of the key players in global Warranty Management System market are Techmark, Accel Japan, International Business Machines (IBM), Oracle, Pegasystems, PTC, SAP, Astea International, Industrial and Financial Systems (IFS), Infosys, Tavant Technologies, Tech Mahindra, Wipro, CAC Holdings Corporation, IBS QMS, BiOS, Inc., Sompo, and IFS.
Software Types Covered:
• Claim & Transaction Management
• Service Contract
• Warranty Intelligence
• Administration Management
• Other Software Types
Deployment Types Covered:
• Medium-Sized Business
• Large Business
• Small Business
End Users Covered:
• Supply Chain and Logistics
• Health Care
• Food & Beverages
• Industrial Equipment
• Heavy Machinery and Equipment
• Heating, Ventilation, and Air Conditioning (HVAC)
• Aerospace and Defense
• Communication Equipment
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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