Application Lifecycle Management (ALM) Market to Reach US$4.39 Bn in Revenue by 2023

Transparency Market Research has released a new market report titled Application Lifecycle Management (ALM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023. According to this report, the global ALM market revenue stood at US$2.04 Bn in 2014 and is expected to reach US$4.39 Bn by 2023 at a CAGR of 8.9% from 2015 to 2023.

Request Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9257

Application lifecycle management (ALM) is a process that is used to coordinate and manage different phases of software development. As a result, software can be designed, delivered, and deployed faster, reducing time to market. ALM solutions have been adopted by companies in various developed economies in North America with a view to maintaining their business agility and flexibility, as ALM increases the business efficiency by creating and enforcing standards across all related project stages, and performing more appropriate allocation of human and technological resources. Also, increasingly cloud-based ALM solutions are being adopted by enterprises around the globe.

Browse Our Report: https://www.transparencymarketresearch.com/application-lifecycle-management-market.html

This is due to the benefits offered by cloud-based implementation models, such as low upfront costs, hosted computing services without any investments in infrastructure, and increased scalability. The cloud-based ALM solutions segment is anticipated to grow the fastest, with an expected CAGR of 8.7% during the forecast period due to their ability to provide global access to information and processes in software development. The ALM services market is segmented into consulting, professional, operation, and maintenance. In 2014, global ALM services component revenue accounted for 1.13 Bn, which is approximately 55% of the overall ALM market.

View TOC: https://www.transparencymarketresearch.com/report-toc/9257

The IT and telecom end-user segment acquired the majority share of the ALM market in the year 2014. It was also the fastest-growing segment, projected to expand at a CAGR of 9.3% from 2015 to 2023. Rising technical as well as managerial challenges and variations in software with different standards in different regions have led to high adoption of ALM solutions among IT and telecom end-users.

Transparency Market Research (TMR) is a 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. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

US Office
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

This release was published on openPR.