Press release
Warranty Management Systems Market : Emergence of Advanced Technologies and Global Industry Analysisq
Warranty vendors offer solutions through services and software. Manufacturers are at liberty to choose the option that suits best to their business requirement. With the increased penetration of Internet worldwide, the cloud based warranty management systems have gained increased adoption, globally.
Warranty management systems can be accessed either through on-premise or cloud based software. Cloud based warranty management software have found increased penetration with ease of installation, saving on infrastructure cost, and ease of use. The on-premise warranty management software market held the largest share of the overall WMS market in 2013.
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With provisions for enhanced security and complete control options to the customer, on-premise warranty management systems strive to remain competitive in the market.
Warranty management systems, by deployment, can be segmented into private, public and hybrid cloud. and by application - automotive, industrial equipment, heavy machinery and equipment, HVAC, aerospace and defense, food and beverages, healthcare, communication equipment and others.
In 2013, healthcare industry held the largest share in the overall warranty management systems market. Increasing demands for healthcare services and increasing number of aging population worldwide has led to increases transactions within this market segment.
Warranty management is widely adopted by small and large scale industries across the world in order to increase top-line revenue and bottom-line profits. Favorable condition such as availability of Internet access at user’s convince has encouraged manufacturers to opt for cloud based warranty management systems.
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Moreover factors such as enhanced customer experience, improved customer retention, shortening of bill cycle and improved cash flow have increased OEMs confidence to opt for automating warranty claims management processes.
North America led the overall warranty management systems market in terms of revenue in 2013 on account of increased spending by manufacturers on warranty management systems in order to enhance product quality and customer satisfaction in this region. Asia Pacific held the second largest revenue share of the overall warranty management systems market in 2013 due to the strong presence of manufacturing industries in this region.
Warranty management systems market in Asia Pacific is expected to achieve significant growth during the forecast period from 2014 to 2022. Opportunities from other regions including Middle East and Africa and Latin America are expected to further drive the growth of the warranty management systems market during the forecast period 2014 to 2022.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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