ALBANY, New York, March 9, 2020 /PRNewswire/ -- As businesses find themselves in an ever-changing and ever-evolving consumer demand landscape, need for responding swiftly to consumer preferences and requirements is increasing. In turn, this is leading to a pressing demand for agility and scalability in organizations. Thus, it does not come as a surprise that the global application lifecycle management market is anticipated to chart a growth rate of 8.9%, compounded annually. In this period, the market would grow from USD 2.88 bn at the start (2019) to USD 5.70 bn at the end (2027) of the assessment period.
"Increase in use of mobile devices will contribute to significant growth in global application lifecycle management market over the forecast period as ALM helps massively in planning, tracking, and designing code and implementing in applications development. IT and Telecom would be one of the dominant market segments in this period", states Transparency Market Research.
Key Findings of the Application Lifecycle Management Market Study
- In terms of enterprise size, the small enterprise will dominate the global application lifecycle management market over the forecast period; the segment will grow at 9.2% growth rate, compounded annually over the stated period
- Notable growth in IT and Telecom, and Automotive and Transportation would help the segment to contribute to overall global application lifecycle management market growth in a major way
- Rapid industrialization and technological advancement to be notable growth factors from 2019 to 2027
Explore 118 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Application Lifecycle Management market by Component – Software (On-premises (Agile Centric ALM, Process Centric ALM), Cloud Based (Agile Centric ALM, Process Centric ALM)), Services (Consulting, Design & Integration, Maintenance & Migration); Enterprise Size – Small & Medium Enterprises and Large Enterprises; End-user - Automotive and Transportation, Manufacturing, Aerospace and Defense, BFSI, Energy and Utilities, Retail & E-commerce, Healthcare, IT and Telecom, Others (Education, Government, and Logistics)
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Global Application Lifecycle Management Market: Key Driving Factors
A number of factors - trends and drivers – are supporting growth in the global application lifecycle management market. Transparency Market Research breaks the prominent ones down as follows:
- Increase in use of mobile devices and development of new browsers are driving the global application lifecycle management market to further growth
- Need to improve timelines in terms of project delivery and management is leading to higher demand for Application Lifecycle Management, contributing to growth in global application lifecycle management market
- The traditional SDLC (Systems Development Lifecycle) infrastructure is ageing and often falls short on few counts when compared with Application Lifecycle Management, paving way for the latter to chart a high growth curve over the forecast period
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Key Impediments for Global Application Lifecycle Management Market Players
Transparency Market Research notes few restraints that are limiting growth in global application lifecycle management market. One of the restraints that is significant involves SMEs perception of Application Lifecycle Management solutions; many feel installation costs are high and that the systems are rigid as far as their own requirements are concerned. Besides, limited IT resources come in the way of implementation of these solutions in such enterprises.
Global Application Lifecycle Management Market: Region-wise Analysis
- North America to lead the global application lifecycle management market from 2019 to 2027, owing to massive adoption of Internet of Things (IoT) in Application Lifecycle Management
- United States to be a major contributor to overall growth of global application lifecycle management market
- South America, and Middle East and Africa to grow at a significant pace over the forecast period
Analyze Application Lifecycle Management market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
The global application lifecycle management market includes a number of prominent players. Some of these include Atlassian Corporation Plc, CollabNet, Inc., The International Business Machines Corporation, Inflectra Corporation, Micro Focus International plc, HP Development Company, L.P., Microsoft Corporation, Parasoft Corporation, Polarion Software GmbH, SAP SE, Digite, Inc. Technological advancement forms an important determinant of growth for these players.
Transparency Market Research provides a comprehensive profile of these players, along with strategies, and market share. It is worth noting here that a range of strategies are often deployed by market players in this landscape. Some of these are alliances such as strategic collaborations and synergistic partnerships. Mergers and Acquisitions also play a crucial role in helping gain a larger share of the overall market growth.
Transparency Market Research has segmented the Application Lifecycle Management market report based on component, enterprise size, end-user, and region.
- Cloud Based
- Design & Integration
- Maintenance & Migration
- Enterprise Size:
- Small & Medium Enterprises
- Large Enterprises
- Automotive and Transportation
- Aerospace and Defense
- Energy and Utilities
- Retail & E-commerce
- IT and Telecom
- Others (Education, Government, and Logistics)
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