DUBLIN, Jan. 4, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/nwmrjl/warranty) has announced the addition of the "Warranty Management System Market - Global Forecast to 2020" report to their offering.
The warranty management system market size is estimated to grow from USD 1.7 Billion in 2015 to USD 3.4 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 14.4% from 2015 to 2020
In the milieu of automating all service management processes, ineffective claim processing and valuation of warranties lead to the increasing need for warranty management systems. Most organizations are unaware about the impact of insufficient and lagging product criticism, ineffective repair management, hampered customer brand loyalty, and increased dissatisfaction among customers. With the convergence of analytics and warranty intelligence, the market has a huge opportunity to grow during the forecast period.
The warranty management software solutions effectively automate the warranty management process which includes warranty coverage, administrating campaigns and product registrations, contract management, warranty and contract tracking, part return and supplier cost recovery. The service contract software segment is expected to hold the largest market share and dominate the market from 2015 to 2020. The main driver encouraging organizations to install service contract are the revenue leakages due to the use of paper documents, unstructured files, and singular systems.
Warranty intelligence software is expected to grow at the highest rate in the warranty management system market during the forecast period. The software helps to track error patterns and project accurate warranty trends, thereby saving 2-3% of the claims cost that the company spends in claims settlements. Claim management software is also one of the software solutions holding a major market share, as it develops a seamless claim processing infrastructure, which automates the process of claim processing and reduces duplication and fraud.
The major vendors in this market include IBM Corporation, Oracle Corporation, Pegasystems, Inc., PTC, Inc., SAP SE, and others.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Warranty Management System Market: Premium Insight
5 Warranty Management System Market: Overview
6 Warranty Management System Market: Industry Trends
7 Warranty Management System Market Analysis, By Software
8 Warranty Management System Market Analysis, By Service
9 Warranty Management System Market Analysis, By Deployment
10 Warranty Management System Market Analysis, By Vertical
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- Astea International, Inc.
- Industrial and Financial Systems (IFS) AB
- Infosys Limited
- International Business Machines (IBM) Corporation
- Oracle Corporation
- PTC Inc.
- Pegasystems Inc.
- SAP SE
- Tavant Technologies, Inc.
- Tech Mahindra Limited
- Wipro Limited
For more information visit http://www.researchandmarkets.com/research/nwmrjl/warranty
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SOURCE Research and Markets