Global Warranty management Systems Market to be fueled by Rising Demand for Procedures Enhancing Pro
Market Research, Warranty Management Systems Market
The rising demand for procedures enhancing the lifecycle of a product has led to the demand for warranty management systems. In 2013, the global warranty management systems market stood at US$10,553.6 million. Driven by the increase in the overall revenue of companies, the market is poised to develop at a CAGR of 12.8% during the period from 2014 to 2022.In 2013, based on solutions, the services segment of the global WMS market held nearly 79% of overall industry. The segment is expected to report the highest growth owing to increased demand from original equipment manufacturers (OEMs). The rising number of OEMs outsourcing their processes and raised efforts of warranty vendors for the development and maintenance of the application are also estimated to boost growth prospects of the warranty management services segment. The warranty management software segment is expected to rise on the back of improved Internet infrastructure and increase in the number of Internet providers working towards improving broadband networks.
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, Warranty Management Systems Market