Warranty Management Software Market Expansion Projected to Gain an Uptick During 2021-2031

Vendors Establish Coronavirus Response with Remote Working Resources to Ensure Business Continuity

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.

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AI and ML Warranty Intelligence Deploys Actionable Insights for Product Improvement

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.

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