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Global Application Lifecycle Management (ALM) Software Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast - 2022 to 2028

05-06-2022 10:12 AM CET | IT, New Media & Software

Press release from: Orion Market Reports

The application lifecycle management (ALM) software market is anticipated to grow at a significant CAGR of 6.9% during the forecast period (2022-2028). ALM is the process of overseeing a software application from conception to termination. In general, it covers application software development, specification allocation, testing, and design. Requirement management, project design, integration, and application release management are the main components of ALM. As the software development lifecycle only pertains to the development process, ALM software helps organizations achieve their business goals by allowing software development teams to track their projects from requirements to delivery. Compliance, faster release, and high-quality output are all advantages of ALM. The market is being driven by an increase in the engineering productivity, and the requirement for improved application efficiency in industries. In addition, the market is growing due to an increase in the requirement for better decision-making during application development, as well as a movement in development methods from waterfall to agile.

A full report of Global Application Lifecycle Management (ALM) Software Market is available at: https://orionmarketreports.com/global-application-lifecycle-management-alm-software-market/105074/  

The global ALM software market is segmented based on type and sales channel. Based on type, the market is sub-segmented into the mobile-based application and web-based applications. Among these types, the mobile-based application segment is expected to propel the growth of the market due to the increasing mobile penetration globally. Based on the application, the market is sub-segmented into BFSI, retail & e-commerce, manufacturing, government & defense, energy & utilities, IT& telecom, education, healthcare, and others.

The market players are also contributing significantly to the market's growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market.  For instance, in February 2022, Cybellum announced a technological partnership with Siemens Digital Industries, to integrate its product and device security platform with Polarion ALM solution.

Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- IBM Corp., Microsoft Corp., CA Technologies Inc., Hewlett-Packard Development Co. LP, Electric Cloud Inc., Atlassian Corp., and Rocket Software Inc.,among others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global ALM Software Market Report by Segment

By Type

Mobile Based Application
Web-Based Application

By Application

BFSI
Retail & E-commerce
Manufacturing
Government & Defense
Energy & Utilities
IT & Telecom
Education
Healthcare
Others

Media Contact:

Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404

About Us:

Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

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