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Global Warranty Management Systems Market to Exhibit 12.8% CAGR from 2014 to 2022

Press release Description

Albany, New York, April 11, 2016: Market Research Reports Search Engine (MRRSE) has recently added a new study, titled “Warranty Management Systems Market (By Solution – Service and Software; By Service Type – System Integration and Consulting, Business Process Outsourcing (BPO) and Application Maintenance, By Application – Automotive, Industrial Equipment, Heavy Machinery and Equipment, HVAC, Aerospace and Defense, Food and Beverages, Healthcare, Communication Equipment and Others (Office Equipment, Furniture, and Apparel)) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 -2022,” to its expanding database.

The report on the warranty management systems (WMS) market is a vital instrument for understanding how the automation of warranty and claims handling has eased the warranty claim procedure for manufacturers to pursue processes at their convenience. In this report, vital market indicators such as drivers, challenges, and expansion opportunities that will influence market growth are analyzed at length. This, in turn, helps examine trends that will impact the progression of the WMS market during the 2014-2022 period.

Browse Full Global Warranty Management Systems Market Report with

According to the report, progression of manufacturing industries and process improvement and awareness among manufacturers about opportunities for cash flow with the incorporation of efficient warranty management system are significantly benefitting the WMS market. Furthermore, the rising awareness about benefits of WMS such as enhanced supplier recovery, reduced fraudulent claims, improved cash flow, and improvement in product quality has contributed to the increasing popularity of warranty management systems.

By solution, the WMS market is segmented into services and software. The selection of services and software by users is based on factors such as security of access, business-specific demands, and budget for warranty management systems. For instance, with increasing R&D in the IT industry, manufacturers are demanding installation of customized warranty management systems to cater to specific needs. Using a combination of outsourcing, application development, and systems integration, vendors of WMS can fulfill these needs.

The services segment is further divided into system integration and consulting, application development, and business process outsourcing (BPO). The software segment comprises on-premise and cloud-based software. With the rising penetration of the internet across virtually all industry verticals, both on-premise and cloud-based software are exhibiting a growth in demand.

On the basis of deployment, public, private, and hybrid cloud are the segments of this market. Typically, private cloud-based WMS are utilized by manufacturers that are primarily interested in protecting their assets and can afford the installation costs of private WMS. Alternately, public cloud-based WMS are exhibiting prominence among small and medium-sized enterprises (SMEs) due to their flexibility and low installation cost. Hybrid cloud-based WMS are gaining momentum as they exhibit features of both private and public cloud-based systems.

Some top companies in the warranty management system market mentioned in this report are PTC Inc., Tavant Technologies Inc., Oracle Corporation, Zafire Ltd., Simply Warranty, Pegasystems Inc., SAP SE, Astea International Inc., and Snap-on, among others.

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