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.
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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. 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:
IBM
Oracle
Pegasystems
PTC
SAP
Astea International
Industrial and Financial Systems (IFS)
Infosys
Tavant Technologies
Tech Mahindra
Wipro
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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:
By Type:
Warranty Intelligence
Claim Management
Service Contract
Administration Management
By Component:
Solution
Services (Professional & Managed Services)
By Application:
Manufacturing, Automotive
Healthcare
Supply Chain & Logistics
Food & Beverages
Others
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By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Market research objective you provided focuses on conducting a comprehensive analysis of a specific market. Here is a breakdown of the research objectives you mentioned:
To analyze and forecast the market size of the market:
- This objective involves assessing the current market size and using historical data and market trends to forecast its future size.
- This analysis helps in understanding the market’s growth potential and opportunities.
To classify and forecast the global market based on product, material, application, and region:
- This objective aims to categorize the market based on different factors such as product types, materials used, applications, and geographical regions.
- It also involves forecasting the market size and growth for each category, providing a detailed understanding of market segmentation.
To identify drivers and challenges for the global market:
- This objective focuses on identifying the factors that drive market growth and those that pose challenges or constraints.
- Understanding the drivers helps in recognizing opportunities, while understanding the challenges allows for mitigation strategies and informed decision-making.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations, and partnerships in the market:
- This objective involves analyzing the competitive landscape of the market. It includes studying activities such as mergers and acquisitions, agreements, collaborations, and partnerships among market players.
- This analysis provides insights into the market’s competitive dynamics and strategic moves by key players.
To conduct pricing analysis for the market:
- This objective aims to analyze pricing strategies within the market. It involves assessing pricing trends, price variations based on different factors, and understanding price sensitivity among customers.
- This analysis helps in formulating effective pricing strategies for market players.
To identify and analyze the profile of leading players operating in the market:
- This objective involves profiling and analyzing the key players in the market. It includes studying their business strategies, financial performance, product portfolios, market share, and competitive advantages.
- This analysis helps in understanding the competitive landscape and benchmarking against industry leaders.
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