Application Lifecycle Management (ALM) Market, by Solution [Software, Services (Professional Services, Managed Services), Deployment Mode (On-premise, Cloud), Platform, (Web-Based Application, Mobile Application), Organization Size (SME, Large Enterprises), Industry Verticals (Banking, Financial Services, and Insurance, Telecom and IT, Media and Entertainment, Retail and eCommerce, Healthcare, Manufacturing, Energy and Utilities, Others) Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

Application Lifecycle Management (ALM) Market Analysis:

Application lifecycle management (ALM) refers to the process of supervising, managing, and coordinating an applications lifecycle from the very initial to its completion. Application lifecycle management starts from the designing of an application. The application comes into existence with the very starting from deciding what all resources and specifications are required. Once the prototype or an initial layout is finished it is tested to understand what the application is still lacking or what changes could bring better outcomes. After all the changes are done and final product is ready to be released it is once again checked and tested to ensure that the application is working fine. Once it passes the final test it is ready to be mass produced and circulated around the globe. This process continues for every new application software development. Further ALM is also used for maintenance related work, to remove bugs or other issues causing negative impact on the application’s performance. ALM ensures that a software application can be designed, developed, and deployed at a faster pace. ALM solutions are being widely adopted by organizations across the globe for the benefits it provides. ALM helps in optimum utilization of human and technological resources and saves from wastage of funds, time, and energy.

Growing smart device users, increased need for efficiency and grater engineering productivity are the major factors driving market growth

In the past decade smartphone users have grown massively and it has led to development of various browsers or platforms to provide various applications and software to the users. Creating a software for various platforms usually includes multiple activities which is typically not restricted only to writing codes. These multiple activities are called as development and operations (DevOps) and they are present throughout the application’s lifecycle. They include the course of action for an application’s development. For instance, a basic approach would be creating a basic design, planning for the same, continuous tracking of activities, developing codes, implementation, managing source codes, running prototype, testing, monitoring till the work is completed. This saves the developers from wasting excess resources and funds and ensures that the product will be of utmost quality. Also, ALM helps in ensuring that the application software is developed well before time so that there are no chances of delay. ALM helps to maintain efficiency across all stages and increases the engineering productivity by providing support to organizations, groups, individuals, and teams in the testing and developing productivity. All these benefits have motivated developers across the globe to opt for ALM solutions to create a software.

Lack of appropriate tracking capabilities, limited technological resources and high initial investments are hampering market growth

Using an application lifecycle management for the development of an application makes it tough to trace the requirements throughout the software’s development lifecycle (SDLC). Further, small and medium sized businesses have limited technological and IT resources which don’t allow them to invest in ALM solutions. Also, they find ALM systems highly rigid and out of reach due to high initial investments.
Upgradations and advancements in application lifecycle management systems to create lucrative market opportunities

Growing developments in the application lifecycle management sector will loosen up the systems rigidity which sometimes hinders the working conditions and norms of an organization. Ongoing research and development work to create and enhance open source application lifecycle management systems will create major market opportunity. The next generation ALM systems will loosen up the rigidity and will be more flexible, cost-effective and easy to acquire at low investments. They would provide better solutions to a developer and focus on better set of activities and right course of actions to increase efficiency.

Application Lifecycle Management (ALM) Market, by Solution:

Software segment will be the most lucrative till 2027

Software segment will be the most lucrative in the application lifecycle management market during the forecast period. Software solution are cost-effective and highly efficient. They enable individuals, groups, or
big teams, all to produce and deliver high quality software within stipulated time period. ALM software help the developers with various activities like planning and designing, acquiring all the resources required, estimating, developing, testing and quality check, development and operations, and maintenance. They facilitate in optimum utilization of resources as well. Also, they ensure smooth communication amongst different teams to avoid any conflicts which could impact the development process. All these factors have motivated companies to use ALM software and increased the growth of software segment.

Application Lifecycle Management (ALM) Market, by Deployment Mode:

Cloud-based segment to grow exponentially

Cloud-based deployment mode is expected to grow exponentially in application lifecycle management market during the forecast timeframe. Cloud-based segment is highly cost-effective, doesn’t require any maintenance, gets continuous upgradations, and doesn’t occupy space. Cloud-based segment provides maximum flexibility and high business agility. Further, they are easy to operate and provide greater scalability. Owing to these factors the cloud-based ALM solutions will be growing exponentially.

Application Lifecycle Management (ALM) Market, by Platform:

Mobile application segment will grow at a significant rate

Mobile application segment is anticipated to grow at a significant rate in the application lifecycle management market during the forecast period. The massively growing mobile phone users and rising internet penetration are the major factors driving the growth of mobile application segment. Further, advancements in the telecom industry and IT industry have also facilitated in the market’s growth. Upcoming technologies like 5G is forecasted to create lucrative opportunities for mobile applications segment.

Application Lifecycle Management (ALM) Market, by Organization Size:

Small and medium sized enterprises (SME) will grow massively

Small and medium sized enterprises are expected to grow massively in the application lifecycle management market during the forecast timeframe. ALM software has helped to reduce costs and improve efficiency by providing support related to optimum utilization of resources. Since SME’s have low availability of resources it is necessary to use them with utmost care. Development of cloud-based solutions have encouraged small and medium sized enterprises majorly to opt for ALM solutions. These are user-friendly solutions which provide higher agility, increased efficiency, enhanced reliability, and greater scalability. All these factors have motivated SME’s to highly invest in the ALM systems market.

Application Lifecycle Management (ALM) Market, by Industry Vertical:

Telecom and IT sector to grow at a fast pace

Telecom and IT sector will have a dominating share in the global market, and they are expected to register a significant revenue during the forecast timeframe. Growing demand for better telecom services, advancements in the IT sector, rising mobile phone users, availability of high-speed internet connection with increased penetration are the factors driving the growth of telecom and IT sector in ALM market. Furthermore, growing technical and managerial challenges and changes in software segment with multiple standards in different countries have led to adoption of ALM software to reduce working complexity.

Application Lifecycle Management (ALM) Market, by Region:

North America region to hold the largest market share 

North America region is anticipated to hold the largest market share in the application lifecycle management market during the forecast period. The region has a strong technological infrastructure and high spending capacity which enables it to develop and acquire new technologies at low costs. Availability of multiple organizations with advanced IT infrastructure and presence of appropriate technical support are driving the market growth in the region. Moreover, the incorporation of internet of things (IoT) in ALM solutions will create huge potential opportunities in the developed regions like North America.

To explore more about Application Lifecycle Management Market, get in touch with our analysts here.

https://www.researchdive.com/connect-to-analyst/283

Some of the significant application lifecycle management market players include Siemens, CollabNet, Atlassian,   Micro Focus, Inflectra Corporation, Microsoft, Broadcom, Digité, Intland Software,  and IBM.

Market Players prefer inorganic growth strategies to expand into local markets. 

Application lifecycle management market leaders are emphasizing highly on acquisition & merger and advanced product development. These are the common strategies followed by established organizations. To emphasize more on the competitor analysis of market players, the porter’s five force model is explained in the report.

Source: Research Dive Analysis

* Taxes/Fees, If applicable will be added during checkout. All prices in USD.