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Warranty Management System Market by Types, by Deployment, by Verticals, by Regions - Global Forecast to 2020

Warranty Management System Market: Global Forecast until 2020

  • November 2015
  • 140 pages
  • ID: 3397885
In this report:
North America is expected to grow from USD ##.## million in 2015 to USD ##,##.## million by 2020, at a CAGR of ##.##% from 2015 to 2020 due to quick adoption of new and emerging technologies in the region.
Automotive industry held ##% of the total market share in 2015 and is expected to increase by ##.##% during the forecast period.

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Increase in warranty claims costs projected to drive the warranty management system market.

The warranty management system market size is forecasted to grow from $1.70B in 2015 to $2.40B by 2020, at a compound annual growth rate (CAGR) of 14.40 percent between 2015 and 2022. The warranty management system market is influenced by Elements such as operational efficiency issues, lack of automate claim processes, growing warranty claims cost, stringent warranty regulations, and product improvement scope.

Service contract to benefit maximum traction during the outlook period

The service contract is forecasted to hold the largest portion of market share duing the estimate period. Additionally, revenue leakages as a result of the use of paper documents, unstructured files, and singular systems, service contract software is anticipated to gain traction and grow at the highest compound annual growth rate (CAGR) during the outlook period. The warranty management software market is also estimated to witness rise in the manufacturing and automotive markets, with the manufacturing vertical anticipated to hold the largest part of market share during the estimate period. Professional services are anticipated to grow at the maximal rate between 2015 and 2022. Nevertheless, operated customization services are anticipated to hold the biggest market share during the outlook period.

In the process of finding out and checking the market value for various segments and subsegments collected by secondary research, extensive primary audit sessions were treated with main people in Tier 1 (35.0 percent), Tier 2 (45.0 percent), and Tier 3 (20.0 percent) firms. The interviews were managed with several main people including C-level (75.0 percent), and Grade of manager (25.0 percent) operating in the warranty management system marketplace. The primary interviews were performed worldwide covering regions including North America (40.0 percent), Europe (EU) (30.0 percent), Asia-Pac (20.0 percent), and RoW (10.0 percent).

As the role of warranties and contracts is evolving for enhanced customer service, the warranty system management market affords tremendous upcoming opportunites for increase in the upcoming five years. There exists a futuristic approach of combining the Internet of Things technology with warranty management solutions as there is a significant increase and traction for connected warranty management solutions for multiple industrial applications. With the growing connected product ecosystem, manufacturers need remote monitoring and centralized management or configuration of software. Moreover, the institutions are also turning towards customized services to assure a balanced and integrated warranty standpoint.

The analysis will facilitate the market top players/new sector entrants in this sector in these ways:

1. This document breaks down the warranty management system market comprehensively and offers the best approximations of the revenue data for the global market and the sub-segments across the distinct verticals and localities.

2. The market research benefits partners to comprehend the pulse of the sector and offers them information on main market drivers, market restraints, opportunities, and alternatives.

3. This industry report will facilitate partners to better find out the competitor and obtain additional insights to better their rank in the business sector. The competitive outlook section includes competitor landscape, newproduct developments, alliances, mergers, and acquisitions.

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