Global Warranty Management System (WMS) Market by Product Types (Claim Management, Service Contract, Warranty Intelligence, and Administration Management), Services (Professional, Deployment & System Integration, and Customization), Deployments (Cloud

The global warranty management system (WMS) market was valued over USD 2 billion in 2019 and is projected to surpass USD 4 billion by 2026, at a CAGR of greater than 14%. The growth of this market is expected to be driven by the ascent in claims cost and stressed provide-OEM relationship where it is relied upon to play a key role. WMS reclassifies the agreement and warranty management frameworks by giving integrated software to robotize and normalize the warranty unified procedures. Most associations are ignorant about the effect of inadequate and slacking item criticism, insufficient repair management, hampered client brand loyalty, and expanded disappointment among clients.

Market Trends, Drivers, Restraints, and Opportunities:

• Rising penetration of internet coupled with the falling data & processing prices is driving the growth of the market.
• Increasing convergence of analytics and warranty intelligence is acting as a favourable factor driving the market growth.
• Rising cost of implementation of its framework is acting as a restraint for the growth of the market.
• Lack of awareness among potential customers is a restraint in the market growth.
• The unexplored markets of emerging economies and the use of latest technologies such as Internet of (IoT) are opportunities for the growth of the market.

Scope of the Report

The report on the global warranty management system (WMS) market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. AttributesDetailsBase Year2019Historic Data2018–2019Forecast Period2020–2026Regional ScopeAsia Pacific, Europe, North America, the Middle East & Africa, and Latin AmericaReport CoverageCompany Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Global Warranty Management System Market Segment Insights:

Based on product types, the market is divided into claim management, service contract, warranty intelligence, and administration management. The service contract segment has the biggest segment in 2019 due to revenue leakages because of the utilization of paper archives, unstructured documents, and singular frameworks. However, the warranty intelligence segment is expected to witness the fastest growth with a substantial CAGR in forecast period due to assists with tracking error patterns and depict precise warranty trends, thereby sparing 2-3% of the claimed cases cost that the organization spends in claims settlements. In terms of services, the market is fragmented into professional, deployment & system integration, and customization. The deployment & system integration segment has biggest share of the overall market in 2019 and is anticipated to witness the fastest CAGR during the forecast period due to backward integration with the legacy systems present at the enterprise level. By deployments, the market is segmented into cloud and on-premise. The on-premise segment has the biggest share due to secured in-house network. However, the cloud segment is expected to boom at the fastest CAGR during the forecast period due to its ease of usage, advanced security technologies, scalability, and round the clock support services. In terms of verticals, the market is divided into manufacturing & automotive, healthcare, supply chain & logistics, food & beverages, and others. The manufacturing & automotive segment has the largest market share of more than 50% and is expected to witness the highest CAGR during the forecast period due its huge volume of sales catering to large number of customers and rapid urbanization worldwide. On the basis of regions, the market is segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. North America has the biggest regional market in 2019 and will extend further at a moderate CAGR from 2020 to 2026 due to the presence of developed and advanced infrastructure in the region. However Asia Pacific is expected to witness the fastest CAGR during the forecast period because of rising disposable income, rapid industrialization, and growing number of population.

Competitive Landscape:

Some of the other key players operating in the market include International Business Machines (IBM) Corporation, Oracle Corporation, Pegasystems Inc., PTC Incorporated, SAP SE, Astea International, Inc., Industrial and Financial Systems (IFS) AB, Infosys Limited, Tavant Technologies, Inc., Tech Mahindra Limited, and Wipro Limited. The major market players gain edge in the market by activities of mergers & acquisitions and investing in research & development to offer various product offerings.

• In February 2020, Infosys is set to acquire Simplus which is leading salesforce consulting services.
• In October 2019, Oracle reported it consented to an arrangement to acquire CrowdTwist, the main cloud-local client loyalty solution to enable brands to offer customized client experiences.
• In October 2018, IBM acquired Red Hat to increase its dominance in hybrid cloud platform.

The Global WMS Market has been segmented on the basis of

Product types

• Claim Management
• Service Contract
• Contract Management
• Warranty and Contract Tracking
• Warranty Transaction Management
• Warranty Intelligence
• Warranty Analytics
• Interactive Dashboards and Reporting
• Administration Management
• Campaign And Product Registration
• Billing Management
• Customer Experience

Services

• Professional
• Deployment & System Integration
• Customization

Deployments

• On-Demand
• On-Premise

Verticals

• Manufacturing & Automotive
• Healthcare
• Supply Chain & Logistics
• Food & Beverages
• Others

Regions

• Asia Pacific
• China
• India
• Japan
• Europe
• Germany
• K.
• France
• North America
• S.
• Canada
• Latin America
• Brazil
• Mexico
• Middle East & Africa