Warranty Management System Market, By Solution (Service and Software), By WMS Services (System Integration & Consulting, Business Process Outsourcing and Application Maintenance), By WMS Software (On Premises and Cloud Based), By Application (Automotive, Industrial Equipment, Heavy Machinery & Equipment, HVAC, Aerospace & Defense, Food & Beverages, Healthcare, Communication Equipment and Others)and by Region (North America, Europe, Asia Pacific, Latin America) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Warranty management system (WMS) is a component of product life cycle management system that is used to capture and analyze historical production data. WMS is used by many organizations to process, track and manage warranties and claims in the product lifecycle. Warranty management system helps OEMs to overcome various challenges such as to identify the product that has defective component, identify the reason behind failure, bad design, or bad material, and to identify people who worked on the batch. The major sectors which have gained considerable revenue in in warranty management systems market worldwide are healthcare, food and beverages, industrial manufacturing, automotive, and communication equipment industry.
North America is expected to drive market growth over the forecast period that provides a suitable environment for SMEs and startups. Enterprises are growing rapidly in North America and increased the demand for warranty management system in order to enhance product quality and customer satisfaction in this region. The U.S. country has dominated the market and witnessing high growth due to rising security concerns of the data among small and medium enterprises. Moreover, the growing demand for smartphone devices and increasing adoption of smart devices creates the demand for a warranty management solution to provide the best solution or service to the customers.
Increased output of manufacturing industries is expected to drive growth of the global warranty management system market during the forecast period. Expansion of global warranty management systems market is directly proportional to the output of manufacturing industries, i.e. how much products they yield annually. Furthermore, the automotive industry is the most lucrative sector for WMS solutions. According to Coherent Market Insights’ analysis, the global motor vehicle production (car and commercial) increased to 84,100,167 units in 2012 from 61,791,868 in 2009 at a CAGR of 10.8%. This increase in production of vehicles has led to significant growth of finances across this industry. Hence, these factors are expected to drive growth of the global warranty management system market in the near future
This report segments the global warranty management system market on the basis of solution, WMS services, WMS software, application and region. On the basis of solution, the global warranty management system market is segmented into service and software. On the basis of WMS services, the global warranty management system market is segmented into system integration & consulting, business process outsourcing and application maintenance. On the basis of WMS software, the global warranty management system market is segmented into on premises and cloud based. On the basis of application, the global warranty management system market is segmented into automotive, industrial equipment, heavy machinery & equipment, HVAC, aerospace & defense, food & beverages, healthcare, communication equipment and others. On the basis of region, the global warranty management system market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Key features of the study:
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