Rising Use Of AI/ ML To Boost Warranty Management System Market Growth

Warranty Management System Market
Warranty Management System Market

Warranty Management System Market is segmented by Deployment Type (On-premise and Cloud), Software Type (Warranty Intelligence, Claim Management, Service Contract, and Administration Management), Component (Solutions and Services), End-user Industry (Industrial Equipment, Automotive and Transportation, Consumer Durable, Construction/Building Materials, Medical Devices, and Aerospace and Defense) and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The global Warranty Management System Market is estimated to be valued at US$ 3681.42 million in 2022 and is expected to exhibit a CAGR of 16.2 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Warranty Management System automatically traces and regulates warranties of the commodities through its lifecycle. Warranty Management System provides business customers whole data regarding the quality of product, warranty assurance data and supplier claim that is recurring cost and inveterate damaged goods to suppliers.

The main properties of the software comprises parts, bonds, returns, and claims supervision. The current warranty management system comes with BI properties that can analyze and prevent warranty scam. By utilizing warranty management system, stakeholders consist service suppliers, suppliers, end-user clients, and producers can cooperate to enhance standard of the product, enhance customer experience, and decrease warranty cost.

Competitive Landscape:

Key players involved in the growth of the global Warranty Management System Market are Oracle Corporation, Pegasystems Inc., IBM Corporation, Tavant and Wipro Limited.

Market Key Drivers:

The rising use of smart devices, IoT, AI and ML is expected to augment the growth of global Warranty Management System for Market. For instance, around 35% of companies are using AI. As per Gartner, the global AI market is known to reach $266.92 billion by 2027.

Rising investment in cloud computing is projected to propel the growth of global Warranty Warranty Management System Market. For instance, as per the Platform9 report, in 2022, single public (32.1%), hybrid (29.8%), and on-premises clouds (14.1%) were companies’ dominant settings to run their jobs.

Covid-19 Impact Analysis:

The COVID-19 outbreak has positively impacted the growth of the warranty management system for market as industrial operations were provisionally closed across several regions to curb the spread of virus. This rose the necessity for more warranty management systems in the market, occurred by less production of consumer electronic appliances.

Key Takeaways:

The global Warranty Management System Market is anticipated to exhibit a CAGR of 16.2 % during the forecast period rising mergers and acquisitions. For instance, In November 2022, Tavant, collaborated with Daimler Truck AG, to offer warranty and claim management solutions for its European brands.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in the global Warranty Management System for Market due to mergers and acquisitions, product expansions and rising use of AI/ML, increasing demand of smart devices, rising IoT. For instance, In May 2022, moving forward in change strategy for WMS Group Ltd (UK), Opteven announced it’s highly manageable and market-leading online rights platform for WMS dealers and rebuilders.

Comments

Post a Comment

Popular posts from this blog

Sarcopenia Treatment; Training and Physical Exercise Is Key to Counteract Sarcopenia

Image
Sarcopenia Treatment A primary Sarcopenia Treatment is exercise. Researchers have identified resistance training as the specific form of exercise that is most beneficial to individuals with sarcopenia. At present, resistance exercise, protein supplementation, and vitamin D have been established as the basic treatment of sarcopenia. Recent clinical trials on sarcopenia therapies such as physical exercise, nutraceutical, and pharmaceutical interventions have revealed that exercise is the only effective strategy shown to alleviate sarcopenia. Sarcopenia refers to a loss of muscle mass specifically related to aging. It's normal to lose some muscle mass as people age. Sarcopenia has been defined as an age-related, involuntary loss of skeletal muscle mass and strength. Although aging is the main cause of sarcopenia, some other factors contribute to the loss of muscle mass. Getting little or no physical activity on a regular basis puts people at an increased risk of developing sarcopenia
Read more

Bioresorbable Implants Can Also Help To Prevent Complications And Speed Up The Recovery Process

Image
Bioresorbable Implants Medical implants, either passive for structural support or for diagnosis and therapy with active electronics, are widely used in surgical applications. Although they have shown long-term biocompatibility, their removal imposes physical, biological and economical burdens on patients. To overcome this drawback, implantable devices exhibiting biodegradation in the body have been developed. These implants disappear inside the body after a certain time of use, and can be replaced with natural bone. The resorption of Bioresorbable Implants is driven by hydrolysis of the bonds linking their monomers. The amorphous portions of the polymer degrade first, while the crystalline regions remain intact and provide most of their mechanical strength. The monomers are then broken down into lactic and glycolic acids, which are converted to pyruvate and then processed through the citric acid cycle into water and carbon dioxide. The Bioresorbable Implants Market was valued at US$
Read more

Increasing Developments by Key Players Are Expected To Augment the Growth of the Global Digital Pathology Market

Image
 Digital Pathology Digital Pathology Market , by Product Type (Image Analysis Software, Scanner {Bright Field Scanner, Fluorescence Scanner}, Services {Installation & Integration, Maintenance Services, Consulting Services}), by Therapeutic Area (Oncology, Hematology, Autoimmune Disorder, Dermatology, and Others), by Technology (Immunohistochemistry, ISH & FISH, Immunofluorescence and others) End User (Pharmaceutical & Biotechnology Companies, Diagnostic Labs, Hospital Laboratories, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030. The global Digital Pathology Market is anticipated to reach an estimated value of US$ 884.4 million in 2023 and is projected to grow at a CAGR of 12.2% from 2023 to 2030. Market Overview: Digital pathology refers to the practice of digitizing glass slides containing tissue samples and analyzing them using digital imaging technology
Read more