PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1672952
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1672952
Global Warranty Management System Market is estimated to be valued at USD 6.98 Bn in 2025 and is expected to reach USD 17.38 Bn by 2032, growing at a compound annual growth rate (CAGR) of 13.9% from 2025 to 2032.
Report Coverage | Report Details | ||
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Base Year: | 2024 | Market Size in 2025: | USD 6.98 Bn |
Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
Forecast Period 2025 to 2032 CAGR: | 13.90% | 2032 Value Projection: | USD 17.38 Bn |
Global warranty management system market growth is driven by increasing need for managing complex warranty operations and improving customer experience across various industry verticals. Warranty management system allows businesses to effectively handle warranty registrations, claims processing, contract maintenance, and service/repair activities in a centralized and streamlined manner. It offers visibility into warranty terms and conditions, coverage periods, claims status and helpful insights to strengthen customer retention. With warranty programs growing in scope and complexity, leveraging warranty management software is becoming imperative for companies to gain a competitive edge in their post-sales service operations and maximize profitability over the lifecycle of a product.
Growing complexity of warranty administration processes across industry verticals stemming from customized terms, global expansion of service networks, and various regulatory compliances has boosted demand for automated warranty management solutions. Rising need to enhance customer satisfaction by offering transparent, seamless and speedy warranty service also boosts adoption of warranty management systems. However, high initial investment costs for deployment and maintenance of these solutions can deter certain small and medium enterprises, thus, hampering the market growth. Furthermore, growing reliance on IoT and analytics capabilities to gather insightful warranty data for meeting evolving customer expectations as well as boosting profit margins can offer opportunities for market players in the near future.
Detailed segmentation: