Global Warranty Management System Market valued approximately USD 2.25 billion in 2017 is anticipated to grow with a healthy growth rate of more than 14.42% over the forecast period 2018-2025.
The Warranty Management System Market is continuously growing in the global scenario at significant pace. Warranty management refers to the effective creation as well as the execution of warranties for the different businesses. Though this kind of work is majorly carried out by product manufacturing organizations, any other company wanting to offer warranties might show an interest in these services provided by warranty management professionals. Warranty management systems efficiently automate the warranty management process including, warranty coverage, administrating campaigns, contract management, warranty tracking, and supplier cost recovery. Increasing number of manufacturing industries and rising demand for mobile & cloud-based solutions are the substantial driving factors of the market during the forecast period.
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Moreover, rising need of cross platform solutions is the factor that likely to creating lucrative opportunity in the near future. In addition, warranty management system offers various benefits such as enhanced supplier recovery, reduced fraudulent claims, improved cash flow, improvement in product quality and so on, due to these benefits of warranty management system its demand is increasing across the world. However, high installation cost and lack of skilled professionals are the factor that limiting the market growth of Warranty Management System during the forecast period.
The regional analysis of Global Warranty Management System Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to rising government support, rising domestic demand and new emerging technologies in the region.
Further, Europe is estimated to grow as stable rate in the global Warranty Management System market over the upcoming years. Asia-Pacific is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 owing to increasing development of manufacturing industries across the region.
The major market player included in this report are:
- Astea International
- Industrial and Financial Systems (IFS)
- Tavant Technologies
- Tech Mahindra
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- Warranty Intelligence
- Claim Management
- Service Contract
- Administration Management
- By Component:
- Services (Professional & Managed Services)
- Manufacturing, Automotive
- Supply Chain & Logistics
- Food & Beverages
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2015, 2016
- Base year – 2017
- Forecast period – 2018 to 2025
Target Audience of the Global Warranty Management System Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers
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