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.
Rising Demand for Mobile and Cloud Based Solutions
The proliferation of Connected/Smart devices and sensors that comprise of Internet of Things (IoT), as well as the amounts of metadata generated by different machine-to-machine (M2M) communications networks will offer manufacturers a new level of insight needed to intelligently update the warranty claims process and deliver a seamless customer experience. Moreover, the in the recent few months the revenue leakages because of the use of unstructured files, paper documents, and singular systems, service contract software is expected to gain traction which help to create more demand all around the globe.
North America is the largest market in terms of global share
The North America region is projected to have the largest growth in demand, during the forecast period (2018-2023), which provides a suitable environment for startups and SMEs, in terms of government regulations and compliance. Owing to this, enterprises are growing rapidly in the North America region and have a heavy demand for warranty management system market in order to enhance the product quality and customer satisfaction in this region. Therefore, the North American region is to have the highest market share in the warranty management system market.
The major trends responsible for the growth of warranty management system market in the North American region include the growing competition among various automobiles and manufacturing industries and favorable conditions such as availability of Internet access at user’s convince has encouraged the manufacturers to opt for cloud based warranty management systems.
As the demand for the warranty management systems is directly related to the internet penetration rate, in North America region, the internet penetration rate, higher is the demand for warranty management systems.
Key Developments in the Market
- March 2018 - Intellinet Systems Pvt. Ltd., has done innovation in their product (Intellinet Warranty Management Software) the new generation warranty management system with latest features.
- February 2017 - Tavant Technologies, has done product innovation of the latest version of its warranty management application – The Tavant Warranty on-Demand 1.5 on Salesforce AppExchange. The all-new version of TWOD is Salesforce lightning compatible and extremely user-friendly. It will offer new improved outlook to setting up and automatically enforcing warranty coverage exclusions resulting in increased automatic claims processing.
Reasons to Purchase this Report
- Provides latest insights into Global Warranty Management System Market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To understand the dominating technology in the market
- The region that is expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players
- 3 months analyst support along with the Market Estimate sheet (in Excel)
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1.1 Key Study Deliverables
1.2 Market Definition
1.3 Study Assumptions
2. Research Methodology
3. Executive Summary
4. Market Insights
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products and Services
4.2.5 Competitive Rivalry in the Industry
4.3 Industry Value Chain Analysis
4.4 Industry Policies
5. Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Competition in Automotive and Manufacturing Industries
5.1.2 Increasing Awareness About Benefits of WMS
5.1.3 Rising Warranty Expenditure
5.2 Market Challenges
5.2.1 Lack of Qualified and Skilled Workforce
5.2.2 Lack of Awareness Among End-Users
5.2.3 High training cost
6. Technology Snapshot
7. Global Warranty Management System Market
7.1 By Deployment Type
7.2 By Software Type
7.2.1 Warranty Intelligence
7.2.2 Claim Management
7.2.3 Service Contract
7.2.4 Administration Management
7.3 By Component
7.3.2 Services ( Professional and managed services )
7.4 By End User Industry Type
7.4.4 Supply Chain and Logistics
7.4.5 Food and Beverages
7.5 By Region
7.5.1 North America
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia - Pacific
7.5.4 Latin America
7.5.5 Middle East & Africa
8. Competitive Intelligence - Company Profiles
8.1 IBM Corporation
8.2 Oracle Corporation
8.3 Pegasystems Inc.
8.4 PTC Inc.
8.5 SAP SE
8.6 stea International, Inc.
8.7 Industrial and Financial Systems (IFS) AB
8.8 Infosys Limited
8.9 Tavant Technologies, Inc.
8.10 Tech Mahindra Limited
8.11 Wipro Limited
*List Not Exhaustive
9. Investment Analysis
10. Future of Global Warranty Management System Market