Press release
Global Application Lifecycle Management Market to Reach US$4.4 bn by 2023, Increasing Demand for Mobile Communication Devices Drives Growth
Application lifecycle management (ALM) supervises the lifecycle of computer programs. It enables software development teams to manage their projects right from the initial planning to the retirement by providing governance, development, and maintenance of application software. In recent times, ALM solutions have gained acceptance in many industries such as automotive, medical healthcare, and BFSI, which has driven the growth of the global ALM market significantly.
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The report states that the increasing demand for smartphones, tablets, and other mobile communication devices across the world has been leading to the rising need for software applications, creating a massive requirement for ALM. On account of this, the market for ALM is likely to gain a significant impetus in the global arena over the forecast period.
In this study, the worldwide market for ALM has been analyzed on the basis of the component, the end user, and the regional spread of this market. Based on the component, the market has been classified into ALM software and ALM service. In 2014, the ALM services segment led the overall market with a share of more than 55%. Consulting ALM, professional ALM, and operation and maintenance ALM are the main components of the ALM services market.
Further, the report classifies the ALM software segment into on-premise ALM software and cloud-based ALM software. The cloud-based ALM software segment is projected to report the fastest CAGR of 8.7% during the forecast period. The ability of cloud-based ALM software solutions to provide worldwide access to information and the processes involved in software development is likely to stimulate this market segment substantially in the near future.
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Based on the end user, the report segments the global application lifecycle management market into BFSI, healthcare, IT and telecom, aerospace and defense, energy and utilities, automotive and transportation, retail, and other end-use industries. In 2014, the demand for ALM solution was the highest from the IT and telecom industry. Analysts expect this trend to continue over the forecast period.
Regionally, the report has classified this market into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. Asia Pacific is anticipated to register the highest growth in the overall ALM market during the forecast period, notes the study.
IBM Corp., Microsoft Corp., Polarion Software GmbH, Atlassian Corp., Micro Focus International Plc, VersionOne Inc., Parasoft Corp., CollabNet Inc., Inflectra Corp., and HP Development Co. L.P. are the leading enterprises in the global ALM market, states the research report.
The global ALM market is segmented into:
By Component
Software
On-Premise
Agile Centric ALM
Process Centric
Cloud-Based
Agile Centric ALM
Process Centric
Services
Consulting
Professional
Operation and Maintenance
By End User
Automotive and Transportation
Aerospace and Defense
BFSI
Energy and Utilities
Retail
Healthcare
IT and Telecom
Others
By Region
North America
The U.S.
Rest of North America
Europe
EU7
CIS
Rest of Europe
Asia Pacific
Japan
China
South Asia
Australasia
Rest of APAC
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Rest of Latin Americ
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TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
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