Companies in the warranty management system market are fulfilling business continuity plans amidst the COVID-19 (coronavirus) outbreak. They are maintaining operational readiness to address challenges created by the pandemic. In order to ensure employee and partner safety, companies in the warranty management system market are adhering to guidelines issued by local governments and health organizations to successfully contain the spread of the coronavirus.
Seamless and robust remote working environments are being established for employees to ensure secure collaboration between teams. Companies are adopting tools and resources that facilitate remote working so that employees can address the issues and requests of their partners and customers. They are establishing a highly distributed workforce to deliver the highest level of support and services to partners. Employees are closely monitoring all logged calls and support requests from its customers, while working remotely amidst the coronavirus pandemic.
Next-gen warranty management systems (WMS) are integrated with artificial intelligence (AI) and machine learning (ML) capabilities to ensure customer satisfaction. For instance, California-based software company Tavant Technologies is promoting its end-to-end warranty management system that helps organizations reduce warranty costs and improve aftermarket experience. Thus, AI and ML innovations in warranty lifecycle management solutions are contributing toward a robust CAGR of ~13% for the market during the assessment period.
AI and ML deliver actionable insights about a product’s warranty lifecycle. Vendors in the warranty management system market are increasing efforts to provide customized warranty solutions to end users by feeding key intelligence outputs back into the supply chain. End users are able to create a dynamic framework with the help of the warranty lifecycle management software that deploy continuous improvements in products. Software developers are focusing on robust data management is an important aspect for continuous improvements in products.
Intelligent warranty management systems are witnessing high demand in the market landscape. Hence, MSX International— a provider of technology-enabled business process outsourcing (BPO) services to OEMs has identified pain points of automotive companies and harnessed the advantages of AI to reinvent the warranty management software. It has been found that automotive companies spend several billion dollars on warranty claims most of which are misdiagnosed or fraudulent. Hence, vendors in the warranty management system market are using AI to deploy accuracy and transparency in warranty claims by customers.
Software developers are increasing efforts to solve the issue of fraudulent claims made by customers in the automotive OEM sector. Vendors in the warranty management system market are combining the capabilities of AI and ML to intelligently apply data science for prioritizing each claim.
The warranty management system market is projected to climb a revenue of US$ 11.1 Bn by 2030 from US$ 3.2 Bn in 2020. The increased output of manufacturing industries in countries of Asia Pacific, such as China and India, are contributing toward exponential market growth. For instance, an Indian multinational technology company Tech Mahindra has adopted an integrated warranty management system provided by the U.S. software company Pegasystems Inc. to improve productivity in the company and increase profitability. Thus, manufacturing industries are able to eliminate time-consuming manual efforts associated with warranty management, and deploy integration among OEM warranty systems and dealer management systems.
Companies in the warranty management system market are helping manufacturing companies replace outdated legacy systems with integrated warranty management solutions to effectively collaborate with OEMs. Warranty management systems help to deal with significant fluctuations in inventory levels.
Cloud-based warranty management systems are playing a pivotal role in laboratory information management. Though warranty management is only a part of the overall laboratory information management system (LIMS), it helps to effectively collaborate with other partners in the value chain. However, traditional cloud-based solutions tend to be less configurable as compared to on-premise solutions. Hence, companies in the warranty management system market are improving the technology of cloud-based warranty management systems that make it desirable in big and small laboratory information management operations.
Warranty management systems are growing popular in web-based LIMS architectures. As such, the demand for WMS is rising with the need for fast claims management and for reducing warranty costs in the warranty management system market. Cloud-based warranty management systems are delivering performance-oriented operations and catering toward customer-focused warranty services.
Integrated warranty management systems are capturing the market with increasing demand for safe and secure warehouse support. For instance, Inspirisys Solutions Limited - an Indian information technology services company, is increasing its portfolio in integrated warranty management systems to cater to IT, telecom, and medical equipment companies. Companies in the warranty management system market are expanding their business streams in sectors of security surveillance platforms and home automation solutions.
Vendors in the warranty management system market are increasing their capabilities to assimilate new technologies and processes in systems, owing to the ever-evolving nature of the WMS technology. They are increasing efforts to boost their credibility as reliable partners for after-sales services in order to gain a competitive edge over other service and software providers. Vendors are eyeing new clients and customers by providing online warranty support and many customers prefer the convenience of online operations.
Analysts’ Viewpoint
Companies are offering free learning webinars for its customers and partners to educate them about their warranty management software amidst the COVID-19 outbreak. They are providing extended warranty programs to increase the lifecycle of products. Vendors are devoted to deliver continuous innovation solutions in warranty management systems to achieve flexibility and service quality in operations. However, stringent SLAs (Service Level Agreements) by various product vendors pose as a restraint for growth of the warranty management system market. Hence, companies should acquire proficiency in managing forward & reverse logistics, including import & re-export of spares to adhere strict SLAs given by product vendors.
Warranty Management System Market: Segmentation
TMR’s research study assesses the warranty management system market on the basis of solution, deployment, application, and region. The report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the warranty management system market.
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1. Preface
1.1. Market Introduction
1.2. Market Segmentation
1.3. Key Research Objectives
2. Assumptions and Research Methodology
2.1. Research Methodology
2.1.1. List of Primary and Secondary Sources
2.2. Key Assumptions for Data Modelling
3. Executive Summary - Global Warranty Management System Market
4. Market Overview
4.1. Market Definition
4.2. Macroeconomic Factors
4.2.1. World GDP Indicator – For Top Economies
4.2.2. Global ICT Spending (US$ Mn)
4.3. Market Factor Analysis
4.3.1. Forecast Factors
4.3.2. Ecosystem/ Value Chain Analysis
4.3.3. Market Dynamics (Growth Influencers)
4.3.3.1. Drivers
4.3.3.2. Restraints
4.3.3.3. Opportunities
4.3.3.4. Impact Analysis of Drivers and Restraints
4.4. Market Opportunity Assessment – by Region (North America/ Europe/ Asia Pacific/ Middle East & Africa/ South America)
4.4.1. By Solution
4.4.2. By Deployment
4.4.3. By Application
4.5. Competitive Scenario and Trends
4.5.1. Warranty Management System Market Concentration Rate
4.5.1.1. List of Emerging, Prominent and Leading Players
4.5.2. Mergers & Acquisitions, Expansions
4.6. Impact Analysis of COVID-19 on the Warranty Management System Market
4.7. Market Outlook
5. Global Warranty Management System Market Analysis and Forecast
5.1.1. Market Revenue Analysis (US$ Mn), 2015-2030
5.1.1.1. Historic Growth Trends, 2015-2019
5.1.1.2. Forecast Trends, 2020-2030
6. Global Warranty Management System Market Analysis, by Solution
6.1. Key Segment Analysis
6.2. Warranty Management System Market Size (US$ Mn) Forecast, by Solution, 2018 - 2030
6.2.1. Service
6.2.1.1. System Integration and Applications Development
6.2.1.2. BPO
6.2.1.3. Application Maintenance
6.2.2. Software
7. Global Warranty Management System Market Analysis, by Deployment
7.1. Key Segment Analysis
7.2. Warranty Management System Market Size (US$ Mn) Forecast, by Deployment, 2018 - 2030
7.2.1. On-premise
7.2.2. Cloud
8. Global Warranty Management System Market Analysis, by Application
8.1. Key Segment Analysis
8.2. Warranty Management System Market Size (US$ Mn) Forecast, by Application, 2018 - 2030
8.2.1. Automotive
8.2.2. Industrial Equipment
8.2.3. Heavy Machinery and Equipment
8.2.4. HVAC
8.2.5. Aerospace and Defense
8.2.6. Food and Beverage
8.2.7. Healthcare
8.2.8. Communication Equipment
8.2.9. Others
9. Global Warranty Management System Market Analysis and Forecast, By Region
9.1. Key Findings
9.2. Warranty Management System Market Size (US$ Mn) Forecast, by Region, 2018 - 2030
9.2.1. North America
9.2.2. Europe
9.2.3. Asia Pacific
9.2.4. Middle East & Africa
9.2.5. South America
10. North America Warranty Management System Market Analysis
10.1. Regional Outlook
10.2. Warranty Management System Market Size (US$ Mn) Analysis and Forecast (2018 - 2030)
10.2.1. By Solution
10.2.2. By Deployment
10.2.3. By Application
10.3. Warranty Management System Market Size (US$ Mn) Forecast, by Country, 2018 - 2030
10.3.1. U.S.
10.3.2. Canada
10.3.3. Mexico
11. Europe Warranty Management System Market Analysis and Forecast
11.1. Regional Outlook
11.2. Warranty Management System Market Size (US$ Mn) Analysis and Forecast (2018 - 2030)
11.2.1. By Solution
11.2.2. By Deployment
11.2.3. By Application
11.3. Warranty Management System Market Size (US$ Mn) Forecast, by Country & Sub-region, 2018 - 2030
11.3.1. Italy
11.3.2. France
11.3.3. U.K.
11.3.4. Germany
11.3.5. Rest of Europe
12. APAC Warranty Management System Market Analysis and Forecast
12.1. Regional Outlook
12.2. Warranty Management System Market Size (US$ Mn) Analysis and Forecast (2018 - 2030)
12.2.1. By Solution
12.2.2. By Deployment
12.2.3. By Application
12.3. Warranty Management System Market Size (US$ Mn) Forecast, by Country & Sub-region, 2018 - 2030
12.3.1. China
12.3.2. India
12.3.3. Japan
12.3.4. ASEAN
12.3.5. Rest of Asia Pacific
13. Middle East & Africa (MEA) Warranty Management System Market Analysis and Forecast
13.1. Regional Outlook
13.2. Warranty Management System Market Size (US$ Mn) Analysis and Forecast (2018 - 2030)
13.2.1. By Solution
13.2.2. By Deployment
13.2.3. By Application
13.3. Warranty Management System Market Size (US$ Mn) Forecast, by Country & Sub-region, 2018 - 2030
13.3.1. United Arab Emirates
13.3.2. South Africa
13.3.3. Rest of Middle East & Africa (MEA)
14. South America Warranty Management System Market Analysis and Forecast
14.1. Regional Outlook
14.2. Warranty Management System Market Size (US$ Mn) Analysis and Forecast (2018 - 2030)
14.2.1. By Solution
14.2.2. By Deployment
14.2.3. By Application
14.3. Warranty Management System Market Size (US$ Mn) Forecast, by Country & Sub-region, 2018 - 2030
14.3.1. Brazil
14.3.2. Argentina
14.3.3. Rest of South America
15. Competition Landscape
15.1. Market Competition Matrix, by Leading Players
15.2. Market Revenue Share Analysis (%), by Leading Players (2019)
16. Company Profiles
16.1. IFS World Operations AB
16.1.1. Business Overview
16.1.2. Product Portfolio
16.1.3. Geographical Footprint
16.1.4. Revenue and Strategy
16.2. Mize, Inc.
16.2.1. Business Overview
16.2.2. Product Portfolio
16.2.3. Geographical Footprint
16.2.4. Revenue and Strategy
16.3. Oracle Corporation
16.3.1. Business Overview
16.3.2. Product Portfolio
16.3.3. Geographical Footprint
16.3.4. Revenue and Strategy
16.4. Pegasystems Inc.
16.4.1. Business Overview
16.4.2. Product Portfolio
16.4.3. Geographical Footprint
16.4.4. Revenue and Strategy
16.5. PTC Inc.
16.5.1. Business Overview
16.5.2. Product Portfolio
16.5.3. Geographical Footprint
16.5.4. Revenue and Strategy
16.6. SAP SE
16.6.1. Business Overview
16.6.2. Product Portfolio
16.6.3. Geographical Footprint
16.6.4. Revenue and Strategy
16.7. ServiceMax, Inc.
16.7.1. Business Overview
16.7.2. Product Portfolio
16.7.3. Geographical Footprint
16.7.4. Revenue and Strategy
16.8. Tavant Technologies, Inc.
16.8.1. Business Overview
16.8.2. Product Portfolio
16.8.3. Geographical Footprint
16.8.4. Revenue and Strategy
16.9. Turn Key Web Solutions
16.9.1. Business Overview
16.9.2. Product Portfolio
16.9.3. Geographical Footprint
16.9.4. Revenue and Strategy
16.10. Zafire Limited
16.10.1. Business Overview
16.10.2. Product Portfolio
16.10.3. Geographical Footprint
16.10.4. Revenue and Strategy
17. Key Takeaways
List of Tables
Table 1: Global Warranty Management System Market Value (US$ Mn) Forecast, by Solution, 2018 - 2030
Table 2: Global Warranty Management System Market Value (US$ Mn) Forecast, by Deployment, 2018 - 2030
Table 3: Global Warranty Management System Market Value (US$ Mn) Forecast, by Application, 2018 - 2030
Table 4: Global Warranty Management System Market Value (US$ Mn) Forecast, by Region, 2018 - 2030
Table 5: North America Warranty Management System Market Value (US$ Mn) Forecast, by Solution, 2018 - 2030
Table 6: North America Warranty Management System Market Value (US$ Mn) Forecast, by Deployment, 2018 - 2030
Table 7: North America Warranty Management System Market Value (US$ Mn) Forecast, by Application, 2018 - 2030
Table 8: North America Warranty Management System Market Value (US$ Mn) Forecast, by Country, 2018 - 2030
Table 9: Europe Warranty Management System Market Value (US$ Mn) Forecast, by Solution, 2018 - 2030
Table 10: Europe Warranty Management System Market Value (US$ Mn) Forecast, by Deployment, 2018 - 2030
Table 11: Europe Warranty Management System Market Value (US$ Mn) Forecast, by Application, 2018 - 2030
Table 12: Europe Warranty Management System Market Value (US$ Mn) Forecast, by Country, 2018 - 2030
Table 13: Asia Pacific Warranty Management System Market Value (US$ Mn) Forecast, by Solution, 2018 - 2030
Table 14: Asia Pacific Warranty Management System Market Value (US$ Mn) Forecast, by Deployment, 2018 - 2030
Table 15: Asia Pacific Warranty Management System Market Value (US$ Mn) Forecast, by Application, 2018 - 2030
Table 16: Asia Pacific Warranty Management System Market Value (US$ Mn) Forecast, by Country, 2018 - 2030
Table 17: Middle East & Africa Warranty Management System Market Value (US$ Mn) Forecast, by Solution, 2018 - 2030
Table 18: Middle East & Africa Warranty Management System Market Value (US$ Mn) Forecast, by Deployment, 2018 - 2030
Table 19: Middle East & Africa Warranty Management System Market Value (US$ Mn) Forecast, by Application, 2018 - 2030
Table 20: Middle East & Africa Warranty Management System Market Value (US$ Mn) Forecast, by Country, 2018 - 2030
Table 21: South America Warranty Management System Market Value (US$ Mn) Forecast, by Solution, 2018 - 2030
Table 22: South America Warranty Management System Market Value (US$ Mn) Forecast, by Deployment, 2018 - 2030
Table 23: South America Warranty Management System Market Value (US$ Mn) Forecast, by Application, 2018 - 2030
Table 24: South America Warranty Management System Market Value (US$ Mn) Forecast, by Country, 2018 - 2030
Table 25: Competition Matrix – Capabilities & Potential to Grow
List of Figures
Figure 1: Global Warranty Management System Market Size (US$ Mn) Forecast, 2018 – 2030
Figure 2: Global Warranty Management System Market Revenue (US$ Mn) Opportunity Assessment, by Region, 2020E
Figure 3: Top Segment Analysis
Figure 4: Global Warranty Management System Market Revenue (US$ Mn) Opportunity Assessment, by Region, 2030F
Figure 5: GDP (US$ Mn), Top Countries (2014 – 2019)
Figure 6: Top Economies GDP Landscape, 2019
Figure 7: Global ICT Spending (%), by Region, 2019
Figure 8: Global ICT Spending (US$ Mn), Regional Contribution, 2019
Figure 9: Global ICT Spending (US$ Mn), Spending Solution Contribution, 2019
Figure 10: Global ICT Spending (%), by Solution, 2019
Figure 11: Global Warranty Management System Market Attractiveness Assessment, by Solution
Figure 12: Global Warranty Management System Market Relative Attractiveness Assessment, by Solution
Figure 13: Global Warranty Management System Market Attractiveness Assessment, by Deployment
Figure 14: Global Warranty Management System Market Relative Attractiveness Assessment, by Deployment
Figure 15: Global Warranty Management System Market Attractiveness Assessment, by Application
Figure 16: Global Warranty Management System Market Relative Attractiveness Assessment, by Application
Figure 17: Global Warranty Management System Market Attractiveness Assessment, by Region
Figure 18: Global Warranty Management System Market Relative Attractiveness Assessment, by Region
Figure 19: Global Warranty Management System Market, by Solution, CAGR (%) (2020 – 2030)
Figure 20: Global Warranty Management System Market, by Application, CAGR (%) (2020 – 2030)
Figure 21: Global Warranty Management System Market, by Deployment, CAGR (%) (2020 – 2030)
Figure 22: Global Warranty Management System Market, by Region, CAGR (%) (2020 – 2030)
Figure 23: Global Warranty Management System Market Revenue (US$ Mn) Historic Trends, 2015 - 2019
Figure 24: Global Warranty Management System Market Revenue Opportunity (US$ Mn) Historic Trends, 2015 - 2019
Figure 25: Global Warranty Management System Market Revenue (US$ Mn) and Y-o-Y Growth (Revenue %) Forecast, 2020 - 2030
Figure 26: Global Warranty Management System Market Revenue Opportunity (US$ Mn) Forecast, 2020 - 2030
Figure 27: Global Warranty Management System Market Value Share Analysis, by Solution, 2020
Figure 28: Global Warranty Management System Market Value Share Analysis, by Solution, 2030
Figure 29: Global Warranty Management System Market Value Share Analysis, by Deployment, 2020
Figure 30: Global Warranty Management System Market Value Share Analysis, by Deployment, 2030
Figure 31 : Global Warranty Management System Market Value Share Analysis, by Application, 2020
Figure 32: Global Warranty Management System Market Value Share Analysis, by Application, 2030
Figure 33: Global Warranty Management System Market Value Share Analysis, by Region, 2020
Figure 34 : Global Warranty Management System Market Value Share Analysis, by Region, 2030
Figure 35: North America Warranty Management System Market Value Share Analysis, by Solution, 2020
Figure 36: North America Warranty Management System Market Value Share Analysis, by Solution, 2030
Figure 37: North America Warranty Management System Market Value Share Analysis, by Deployment, 2020
Figure 38: North America Warranty Management System Market Value Share Analysis, by Deployment, 2030
Figure 39: North America Warranty Management System Market Value Share Analysis, by Application, 2020
Figure 40: North America Warranty Management System Market Value Share Analysis, by Application, 2030
Figure 41: North America Warranty Management System Market Value Share Analysis, by Country, 2020
Figure 42: North America Warranty Management System Market Value Share Analysis, by Country, 2030
Figure 43: Europe Warranty Management System Market Value Share Analysis, by Solution, 2020
Figure 44: Europe Warranty Management System Market Value Share Analysis, by Solution, 2030
Figure 45: Europe Warranty Management System Market Value Share Analysis, by Deployment, 2020
Figure 46: Europe Warranty Management System Market Value Share Analysis, by Deployment, 2030
Figure 47: Europe Warranty Management System Market Value Share Analysis, by Application, 2020
Figure 48: Europe Warranty Management System Market Value Share Analysis, by Application, 2030
Figure 49: Europe Warranty Management System Market Value Share Analysis, by Country, 2020
Figure 50: Europe Warranty Management System Market Value Share Analysis, by Country, 2030
Figure 51: Asia Pacific Warranty Management System Market Value Share Analysis, by Solution, 2020
Figure 52: Asia Pacific Warranty Management System Market Value Share Analysis, by Solution, 2030
Figure 53: Asia Pacific Warranty Management System Market Value Share Analysis, by Deployment, 2020
Figure 54: Asia Pacific Warranty Management System Market Value Share Analysis, by Deployment, 2030
Figure 55: Asia Pacific Warranty Management System Market Value Share Analysis, by Application, 2020
Figure 56: Asia Pacific Warranty Management System Market Value Share Analysis, by Application, 2030
Figure 57: Asia Pacific Warranty Management System Market Value Share Analysis, by Country, 2020
Figure 58: Asia Pacific Warranty Management System Market Value Share Analysis, by Country, 2030
Figure 59: Middle East & Africa Warranty Management System Market Value Share Analysis, by Solution, 2020
Figure 60: Middle East & Africa Warranty Management System Market Value Share Analysis, by Solution, 2030
Figure 61: Middle East & Africa Warranty Management System Market Value Share Analysis, by Deployment, 2020
Figure 62: Middle East & Africa Warranty Management System Market Value Share Analysis, by Deployment, 2030
Figure 63: Middle East & Africa Warranty Management System Market Value Share Analysis, by Application, 2020
Figure 64: Middle East & Africa Warranty Management System Market Value Share Analysis, by Application, 2030
Figure 65: Middle East & Africa Warranty Management System Market Value Share Analysis, by Country, 2020
Figure 66: Middle East & Africa Warranty Management System Market Value Share Analysis, by Country, 2030
Figure 67: South America Warranty Management System Market Value Share Analysis, by Solution, 2020
Figure 68: South America Warranty Management System Market Value Share Analysis, by Solution, 2030
Figure 69: South America Warranty Management System Market Value Share Analysis, by Deployment, 2020
Figure 70: South America Warranty Management System Market Value Share Analysis, by Deployment, 2030
Figure 71: South America Warranty Management System Market Value Share Analysis, by Application, 2020
Figure 72: South America Warranty Management System Market Value Share Analysis, by Application, 2030
Figure 73: South America Warranty Management System Market Value Share Analysis, by Country, 2020
Figure 74: South America Warranty Management System Market Value Share Analysis, by Country, 2030
Figure 75: Market Revenue Share (%) Analysis – Major players and Other players