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Warranty Management System Market By Component, By Deployment Mode, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2023-2032

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    Report

  • 404 Pages
  • September 2023
  • Region: Global
  • Allied Market Research
  • ID: 5879302
A warranty management system is a software solution designed to help companies manage the entire warranty process, from tracking and registering warranties to managing claims and providing analytics. In addition, it helps to automate the tracking process and manages warranties of the products. Furthermore, warranty management software offers business users complete information about product quality, warranty claims data, and supplier recovery, i.e., returning expenses and returning damaged products to suppliers. The key features of the software include parts, contracts, returns, and claims management. The latest warranty management software comes with business intelligence features that can diagnose and avert warranty fraud. Thus, by using warranty management software, stakeholders comprising service providers, suppliers, end users, and manufacturers can cooperate to improve product quality, improve customer experience, and reduce warranty expenditures.

Furthermore, with increasing competition in the global market, manufacturers are striving to differentiate their products by offering better after-sales services. This includes providing extended warranty periods, faster claims processing, and better customer support. As a result, manufacturers are heavily investing in warranty management systems to streamline their after-sales service operations and improve customer satisfaction, which leads to the growth of the market. Moreover, surge in adoption of cloud-based solutions has a significant impact on the warranty management system market. With more companies opting for cloud-based solutions, there has been an increase in the demand for warranty management systems that can be accessed and managed from anywhere, anytime, and through any device with internet connection. This has led to increase in adoption of cloud-based warranty management solutions, thereby driving the growth of the warranty management system market. However, resistance to change limits the adoption of new technologies, which affects the growth of the market. In addition, lack of awareness for the warranty management system due to lack of marketing and promotion of these systems acts as the key deterrent factor of the global market. On the contrary, as companies continue to invest in the development of new products, the need for an efficient and effective warranty management system becomes increasingly important. Thus, the emergence of new technologies is expected to present lucrative opportunities for the expansion of the global warranty management system market in the upcoming years.

The global warranty management system market is segmented into component, deployment mode, industry vertical, and region. Depending on component, it is bifurcated into software and service. By deployment mode, it is segregated into on-premise and cloud. On the basis of industry vertical, it is fragmented into manufacturing, automotive, healthcare, supply chain & logistics, food & beverages, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the warranty management system market such as IBM Corporation, IFS, Mize, Oracle Corporation, Pegasystems Inc., PTC, Salesforce, SAP, Tavant, and Wipro Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the warranty management system industry.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the warranty management system market analysis from 2022 to 2032 to identify the prevailing warranty management system market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the warranty management system market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global warranty management system market trends, key players, market segments, application areas, and market growth strategies.

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  • Volume Market Size and Forecast

Key Market Segments

By Industry Vertical

  • Manufacturing
  • Automotive
  • Healthcare
  • Supply Chain and Logistics
  • Food and Beverages
  • Others

By Component

  • Software
  • Service

By Deployment Mode

  • On-premise
  • Cloud

By Region

  • North America
  • U.S.
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
  • Key Market Players
  • Tavant
  • SAP
  • Oracle Corporation
  • IBM CORPORATION
  • Mize
  • IFS
  • PTC
  • Pegasystems Inc.
  • Wipro Limited
  • Salesforce

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.3. Porter’s five forces analysis
3.4. Market dynamics
CHAPTER 4: WARRANTY MANAGEMENT SYSTEM MARKET, BY COMPONENT
4.1. Overview
4.2. Software
4.3. Service
CHAPTER 5: WARRANTY MANAGEMENT SYSTEM MARKET, BY DEPLOYMENT MODE
5.1. Overview
5.2. On-premise
5.3. Cloud
CHAPTER 6: WARRANTY MANAGEMENT SYSTEM MARKET, BY INDUSTRY VERTICAL
6.1. Overview
6.2. Manufacturing
6.3. Automotive
6.4. Healthcare
6.5. Supply Chain and Logistics
6.6. Food and Beverages
6.7. Others
CHAPTER 7: WARRANTY MANAGEMENT SYSTEM MARKET, BY REGION
7.1. Overview
7.2. North America
7.3. Europe
7.4. Asia-Pacific
7.5. LAMEA
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2022
CHAPTER 9: COMPANY PROFILES
9.1. Oracle Corporation
9.2. Wipro Limited
9.3. Pegasystems Inc.
9.4. IBM CORPORATION
9.5. Tavant
9.6. Salesforce
9.7. IFS
9.8. SAP
9.9. PTC
9.10. Mize
List of Tables
Table 01. Global Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 02. Warranty Management System Market for Software, by Region, 2022-2032 ($ Million)
Table 03. Warranty Management System Market for Service, by Region, 2022-2032 ($ Million)
Table 04. Global Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 05. Warranty Management System Market for On-Premise, by Region, 2022-2032 ($ Million)
Table 06. Warranty Management System Market for Cloud, by Region, 2022-2032 ($ Million)
Table 07. Global Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 08. Warranty Management System Market for Manufacturing, by Region, 2022-2032 ($ Million)
Table 09. Warranty Management System Market for Automotive, by Region, 2022-2032 ($ Million)
Table 10. Warranty Management System Market for Healthcare, by Region, 2022-2032 ($ Million)
Table 11. Warranty Management System Market for Supply Chain and Logistics, by Region, 2022-2032 ($ Million)
Table 12. Warranty Management System Market for Food and Beverages, by Region, 2022-2032 ($ Million)
Table 13. Warranty Management System Market for Others, by Region, 2022-2032 ($ Million)
Table 14. Warranty Management System Market, by Region, 2022-2032 ($ Million)
Table 15. North America Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 16. North America Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 17. North America Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 18. North America Warranty Management System Market, by Country, 2022-2032 ($ Million)
Table 19. U.S. Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 20. U.S. Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 21. U.S. Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 22. Canada Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 23. Canada Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 24. Canada Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 25. Europe Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 26. Europe Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 27. Europe Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 28. Europe Warranty Management System Market, by Country, 2022-2032 ($ Million)
Table 29. UK Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 30. UK Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 31. UK Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 32. Germany Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 33. Germany Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 34. Germany Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 35. France Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 36. France Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 37. France Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 38. Italy Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 39. Italy Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 40. Italy Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 41. Spain Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 42. Spain Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 43. Spain Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 44. Rest of Europe Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 45. Rest of Europe Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 46. Rest of Europe Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 47. Asia-Pacific Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 48. Asia-Pacific Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 49. Asia-Pacific Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 50. Asia-Pacific Warranty Management System Market, by Country, 2022-2032 ($ Million)
Table 51. China Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 52. China Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 53. China Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 54. Japan Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 55. Japan Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 56. Japan Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 57. India Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 58. India Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 59. India Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 60. Australia Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 61. Australia Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 62. Australia Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 63. South Korea Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 64. South Korea Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 65. South Korea Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 66. Rest of Asia-Pacific Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 67. Rest of Asia-Pacific Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 68. Rest of Asia-Pacific Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 69. LAMEA Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 70. LAMEA Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 71. LAMEA Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 72. LAMEA Warranty Management System Market, by Country, 2022-2032 ($ Million)
Table 73. Latin America Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 74. Latin America Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 75. Latin America Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 76. Middle East Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 77. Middle East Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 78. Middle East Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 79. Africa Warranty Management System Market, by Component, 2022-2032 ($ Million)
Table 80. Africa Warranty Management System Market, by Deployment Mode, 2022-2032 ($ Million)
Table 81. Africa Warranty Management System Market, by Industry Vertical, 2022-2032 ($ Million)
Table 82. Oracle Corporation: Key Executives
Table 83. Oracle Corporation: Company Snapshot
Table 84. Oracle Corporation: Service Segments
Table 85. Oracle Corporation: Product Portfolio
Table 86. Wipro Limited: Key Executives
Table 87. Wipro Limited: Company Snapshot
Table 88. Wipro Limited: Service Segments
Table 89. Wipro Limited: Product Portfolio
Table 90. Pegasystems Inc.: Key Executives
Table 91. Pegasystems Inc.: Company Snapshot
Table 92. Pegasystems Inc.: Service Segments
Table 93. Pegasystems Inc.: Product Portfolio
Table 94. Pegasystems Inc.: Key Stratergies
Table 95. IBM Corporation: Key Executives
Table 96. IBM Corporation: Company Snapshot
Table 97. IBM Corporation: Service Segments
Table 98. IBM Corporation: Product Portfolio
Table 99. Tavant: Key Executives
Table 100. Tavant: Company Snapshot
Table 101. Tavant: Service Segments
Table 102. Tavant: Product Portfolio
Table 103. Tavant: Key Stratergies
Table 104. Salesforce: Key Executives
Table 105. Salesforce: Company Snapshot
Table 106. Salesforce: Service Segments
Table 107. Salesforce: Product Portfolio
Table 108. Ifs: Key Executives
Table 109. Ifs: Company Snapshot
Table 110. Ifs: Service Segments
Table 111. Ifs: Product Portfolio
Table 112. Sap: Key Executives
Table 113. Sap: Company Snapshot
Table 114. Sap: Service Segments
Table 115. Sap: Product Portfolio
Table 116. Ptc: Key Executives
Table 117. Ptc: Company Snapshot
Table 118. Ptc: Service Segments
Table 119. Ptc: Product Portfolio
Table 120. Mize: Key Executives
Table 121. Mize: Company Snapshot
Table 122. Mize: Service Segments
Table 123. Mize: Product Portfolio
List of Figures
Figure 01. Warranty Management System Market, 2022-2032
Figure 02. Segmentation of Warranty Management System Market, 2022-2032
Figure 03. Top Impacting Factors in Warranty Management System Market
Figure 04. Top Investment Pockets in Warranty Management System Market (2023-2032)
Figure 05. High to Moderate Bargaining Power of Suppliers
Figure 06. Moderate to High Threat of New Entrants
Figure 07. Moderate to High Threat of Substitutes
Figure 08. High to Moderate Intensity of Rivalry
Figure 09. Moderate Bargaining Power of Buyers
Figure 10. Global Warranty Management System Market: Drivers, Restraints and Opportunities
Figure 11. Warranty Management System Market, by Component, 2022 and 2032 (%)
Figure 12. Comparative Share Analysis of Warranty Management System Market for Software, by Country 2022 and 2032 (%)
Figure 13. Comparative Share Analysis of Warranty Management System Market for Service, by Country 2022 and 2032 (%)
Figure 14. Warranty Management System Market, by Deployment Mode, 2022 and 2032 (%)
Figure 15. Comparative Share Analysis of Warranty Management System Market for On-Premise, by Country 2022 and 2032 (%)
Figure 16. Comparative Share Analysis of Warranty Management System Market for Cloud, by Country 2022 and 2032 (%)
Figure 17. Warranty Management System Market, by Industry Vertical, 2022 and 2032 (%)
Figure 18. Comparative Share Analysis of Warranty Management System Market for Manufacturing, by Country 2022 and 2032 (%)
Figure 19. Comparative Share Analysis of Warranty Management System Market for Automotive, by Country 2022 and 2032 (%)
Figure 20. Comparative Share Analysis of Warranty Management System Market for Healthcare, by Country 2022 and 2032 (%)
Figure 21. Comparative Share Analysis of Warranty Management System Market for Supply Chain and Logistics, by Country 2022 and 2032 (%)
Figure 22. Comparative Share Analysis of Warranty Management System Market for Food and Beverages, by Country 2022 and 2032 (%)
Figure 23. Comparative Share Analysis of Warranty Management System Market for Others, by Country 2022 and 2032 (%)
Figure 24. Warranty Management System Market by Region, 2022 and 2032 (%)
Figure 25. U.S. Warranty Management System Market, 2022-2032 ($ Million)
Figure 26. Canada Warranty Management System Market, 2022-2032 ($ Million)
Figure 27. UK Warranty Management System Market, 2022-2032 ($ Million)
Figure 28. Germany Warranty Management System Market, 2022-2032 ($ Million)
Figure 29. France Warranty Management System Market, 2022-2032 ($ Million)
Figure 30. Italy Warranty Management System Market, 2022-2032 ($ Million)
Figure 31. Spain Warranty Management System Market, 2022-2032 ($ Million)
Figure 32. Rest of Europe Warranty Management System Market, 2022-2032 ($ Million)
Figure 33. China Warranty Management System Market, 2022-2032 ($ Million)
Figure 34. Japan Warranty Management System Market, 2022-2032 ($ Million)
Figure 35. India Warranty Management System Market, 2022-2032 ($ Million)
Figure 36. Australia Warranty Management System Market, 2022-2032 ($ Million)
Figure 37. South Korea Warranty Management System Market, 2022-2032 ($ Million)
Figure 38. Rest of Asia-Pacific Warranty Management System Market, 2022-2032 ($ Million)
Figure 39. Latin America Warranty Management System Market, 2022-2032 ($ Million)
Figure 40. Middle East Warranty Management System Market, 2022-2032 ($ Million)
Figure 41. Africa Warranty Management System Market, 2022-2032 ($ Million)
Figure 42. Top Winning Strategies, by Year (2020-2023)
Figure 43. Top Winning Strategies, by Development (2020-2023)
Figure 44. Top Winning Strategies, by Company (2020-2023)
Figure 45. Product Mapping of Top 10 Players
Figure 46. Competitive Dashboard
Figure 47. Competitive Heatmap: Warranty Management System Market
Figure 48. Top Player Positioning, 2022
Figure 49. Oracle Corporation: Net Revenue, 2020-2022 ($ Million)
Figure 50. Oracle Corporation: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 51. Oracle Corporation: Revenue Share by Segment, 2022 (%)
Figure 52. Oracle Corporation: Revenue Share by Region, 2022 (%)
Figure 53. Wipro Limited: Net Revenue, 2020-2022 ($ Million)
Figure 54. Wipro Limited: Revenue Share by Segment, 2022 (%)
Figure 55. Pegasystems Inc.: Net Revenue, 2020-2022 ($ Million)
Figure 56. Pegasystems Inc.: Revenue Share by Segment, 2021 (%)
Figure 57. Pegasystems Inc.: Revenue Share by Region, 2021 (%)
Figure 58. IBM Corporation: Net Revenue, 2019-2021 ($ Million)
Figure 59. IBM Corporation: Research & Development Expenditure, 2019-2021 ($ Million)
Figure 60. IBM Corporation: Revenue Share by Segment, 2022 (%)
Figure 61. IBM Corporation: Revenue Share by Region, 2022 (%)
Figure 62. Salesforce: Net Revenue, 2020-2022 ($ Million)
Figure 63. Salesforce: Revenue Share by Segment, 2022 (%)
Figure 64. Salesforce: Revenue Share by Region, 2022 (%)
Figure 65. Sap: Net Revenue, 2020-2022 ($ Million)
Figure 66. Ptc: Net Revenue, 2020-2022 ($ Million)
Figure 67. Ptc: Revenue Share by Segment, 2022 (%)
Figure 68. Ptc: Revenue Share by Region, 2022 (%)

Executive Summary

According to the report, the warranty management system market was valued at $3.7 billion in 2022, and is estimated to reach $16.1 billion by 2032, growing at a CAGR of 16.2% from 2023 to 2032.

The warranty management system market is likely to experience a significant growth rate of 16.2% from 2023-2032 owing to increasing market demand for software segment

A warranty management system is a software solution or platform that helps businesses to efficiently manage their product warranties and related processes. It is designed to streamline and automate warranty-related tasks, including warranty registration, claims processing, tracking, and reporting. The primary purpose of a warranty management system is to enhance customer satisfaction by ensuring timely and accurate handling of warranty claims and reducing administrative overhead for businesses. Moreover, warranty management software offers business users complete information about product quality, warranty claims data and supplier recovery that is returning expenses and returning damaged products to suppliers.

The increasing demand for efficient and streamlined warranty management processes is driving the growth of the warranty management system market, as companies recognize the value of these systems in improving their operational efficiency, reducing costs, and enhancing customer satisfaction. Furthermore, with the increasing competition in the global market, manufacturers are striving to differentiate their products by offering better after-sales services. This includes providing extended warranty periods, faster claims processing, and better customer support. As a result, manufacturers are investing in warranty management systems to streamline their after-sales service operations and improve customer satisfaction, which leads to the growth of the market. In addition, the growing adoption of cloud-based solutions had also a significant impact on the warranty management system market, with more companies opting for cloud-based solutions, there has been an increase in the demand for warranty management systems that can be accessed and managed from anywhere, anytime, and through any device with an internet connection. Hence, this has led to the increasing adoption of cloud-based warranty management solutions, which, in turn, acts as a driver for the growth of the warranty management system market. However, lack of awareness for the warranty management system market due to lack of marketing and promotion of these systems hampers the growth of the market. Moreover, resistance to change slows down the adoption of new technologies, which also affects the growth of the warranty management system market.

On the contrary, the emergence of new technologies presents a significant opportunity for the warranty management system market. As companies continue to invest in the development of new products, the need for an efficient and effective warranty management system becomes increasingly important. Hence, use of such new technology and innovations will provide lucrative opportunities for the growth of the warranty management system market.

The warranty management system market is segmented on the basis of component, deployment mode, industry vertical, and region. Based on component, it is segmented into software and service. By deployment mode, it is segmented into on-premise and cloud. By industry vertical, it is segmented into manufacturing, automotive, healthcare, supply chain & logistics, food & beverages, and others. By region, it is analyzed across North America (the U.S., and Canada), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

The report analyzes the profiles of key players operating in warranty management system market such as IBM Corporation, IFS, Mize, Oracle Corporation, Pegasystems Inc., PTC, Salesforce, SAP, Tavant, and Wipro Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the warranty management system industry.

Furthermore, market players are adopting strategies like partnership and business development for enhancing their services in the market and improving customer satisfaction. For instance, in November 2022, Tavant, a digital products and solutions company and one of the global leaders in service lifecycle management, had entered in partnership with Daimler Truck AG (DTAG), one of the world’s largest commercial vehicle manufacturers, to provide warranty and claim management solutions for its European brands. Similarly, in April 2022, Hikvision, an IoT solution provider with video as its core competency, expanded its global warranty on premium project products to five years. This new, 5-year warranty will further support Hikvision customers with easy project maintenance and increased cost efficiency, which will increase their business and help to grow the market. Therefore, such strategy will help to grow the warranty management system market in the upcoming years.

Key Market Insights

By component, the software segment was the highest revenue contributor to the market, and is estimated to reach $9.59 billion by 2032, with a CAGR of 15.0 %. However, the service segment is estimated to be the fastest growing segment with the CAGR of 18.3% during the forecast period.

By deployment mode, the on-premise segment was the highest revenue contributor to the market, and is estimated to reach $8.68 billion by 2032, with a CAGR of 14.5 %. However, the cloud segment is estimated to be the fastest growing segment with the CAGR of 18.6% during the forecast period.

Based on industry vertical, the manufacturing segment was the highest revenue contributor to the market, with $1.20 billion in 2022, and is estimated to reach $4.12 billion by 2032, with a CAGR of 13.4%. However, the food & beverages segment is expected to be the fastest growing segment with the CAGR of 20.1% during the forecast period.

Based on region, North America was the highest revenue contributor, accounting for $1.37 billion in 2022, and is estimated to reach $4.12 billion by 2032, with a CAGR of 11.8%.

Companies Mentioned

  • Tavant
  • SAP
  • Oracle Corporation
  • IBM CORPORATION
  • Mize
  • IFS
  • PTC
  • Pegasystems Inc.
  • Wipro Limited
  • Salesforce

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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