The global Warranty Management System market size is expected to reach close to USD $ 5,429.5 Mn by 2029 with an annualized growth rate of 13.8% through the projected period.
The increasing need for automation has led to the growth of the market in the coming years and is expected to increase drastically.
Next-Gen warranty system includes Artificial Intelligence and Machine Learning capabilities to ensure better customer satisfaction. Market players are making efforts to provide customized warranty solutions to the customers to improve the customer retail bond. The main driver which is leading the growth market are unstructured files, singular systems, and leakage of confidential data has led to the rise in the demand of the market.
Warranty Management System Market Scope
|Revenue forecast in 2029
|USD 5,429.5 million
|CAGR of 13.8% during 2021-2029
|Software, Vertical, Deployment, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Wipro, Tavant Technologies, Pegasystems, PTC, Infosys, Intellinet Systems
Segment Overview of Global Warranty Management Market
Software Overview, (USD Billion)
- Claim Management
- Vertical Contract
- Warranty Intelligence
- Administration Management
Vertical Overview, (USD Billion)
- Professional Verticals
- System Integration
- Customization Vertical
Vertical Overview, (USD Billion)
- Supply Chain & Logistics
Deployment Overview, (USD Billion)
Regional Overview, (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of Latin America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global workplace market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the Global Warranty Management Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Global Warranty Management Market and their strategic initiatives for the Software development
- The study covers a qualitative and quantitative analysis of the market segmented based on Softwares, Deployment, and vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the Global Warranty Management Market. The report will benefit:
- Every stakeholder is involved in the Global Warranty Management Market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the Global Warranty Management Market.
- Government Enterprises, regulatory authorities, policymakers, and Enterprises looking for investments in trends of the Global Warranty Management Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
Due to the ongoing situation of the global pandemic, companies are maintaining operational readiness for the safety of customers, employees, and partners in the warranty management system. Companies are adopting a remote working environment, to ensure there is a proper collaboration between teams and they have been adopting tools and resources for the better working condition for the employees. The rising need for a cross-platform solution is further influencing the growth market.
Based on Software, the Warranty Management market has been segmented into Claim Management, Vertical Contract, Warranty Intelligence, Administration Management. Warranty Management will be the fastest-growing segment
In terms of Software, the global Warranty Management market is segmented as Professional Vertical, System Integration, and Customization Vertical. The Professional Vertical segment dominates the segment due to increasing Vertical requirements from the customers.
The Warranty Management market based on verticals has been segmented into Automotive, Mining, healthcare, manufacturing, Supply Chain & Logistics, and others. Manufacturing will dominate the market due to an increase in warranty requirement from the vendors.
Based on the Deployment segment, the market is bifurcated into On-Premise and On-Demand. On-Premise is growing with the largest market share as it benefits the organization in terms of speed and scalability.
The Warranty Management System is divided into North America, Europe, APAC, Middle East & Africa, and Latin America. North America will grow with the highest market share due to rising market players in the region. The Asia Pacific will have the highest market share due to the rise in domestic demand and shift of focus to customer relationships.
The major players of the Warranty Management System are Oracle Corporation, Pegasystems Inc., PTC Inc., SAP SE, and various other players in the market. Most of the players are spread across various regions focusing on inorganic and organic strategies.