The Application Lifecycle Management or ALM is a specification, design & development and testing of software application of a computer program. It covers the complete lifecycle from the idea conception to the development, deployment, testing, support and eventually retirement of a software system. Moreover, it is an integrated system of processes, people, and tools that helps in managing the life of an application from concept to retirement. It is similar to Software Development Lifecycle (SDLC). It includes certain parameters for instance governance, maintenance, development, and decommissioning of software. Thus with the increasing applications in various sectors are making the market to grow at its prominent phase.
Referring to study “Global Application Life Cycle Management Market to reach USD 5.70 billion by 2027” Some of the leading players operating in the global application life cycle management market are The International Business Machines Corporation, CollabNet, Inc., Microsoft Corporation, Inflectra Corporation, Parasoft Corporation, Micro Focus International plc, SAP SE, HP Development Company, L.P., Polarion Software GmbH, Digite, Inc., Atlassian Corporation Plc. These key players are continually in the process of updating their assistance or service portfolio.
Based on type, application life cycle management market is segregated as software and services. Based on ALM tools, market is segregated as source code management, estimation & planning, large enterprises, small & medium enterprises, deployments or divots, application portfolio management, requirements management, testing & quality assurance, version control, maintenance & support and real-time planning & team communication. Based on hosted type, market is segregated as cloud and on-premise. In addition, based on application, market is segregated as high tech, healthcare & life science, aerospace & defense, transportation & hospitality, IT & telecom, consumer goods & retail, manufacturing, and others.
The application life cycle management market is driven by rise in demand for improved decision makers’ software, followed by increase in shift of development model from waterfall to agile and ensures compliance throughout the application development phase. However, critical integration of ALM tools and slow disposable rate of legacy method may impact the market. Moreover, rapid uptake of mobile devices & growth in number of browsers/platforms and emergence of open source ALM tools are key opportunities for market.
Based on geography, the North-American region holds major share in global application life cycle management market owing to presence of several enterprises with advanced IT infrastructure coupled with rise in availability of technical expertise in the region. Whereas, the Asian-Pacific and European regions are anticipated to exhibit substantial growth rate due to exponential increase in the demand for SaaS (software-as-a-service) based ALM over the forecast period. It is predicted that future of the global market will be optimistic because of rapid technological innovations along with rise in use of connected devices during the forecast period. The global application life cycle management market is valued approximately at US $2.88 billion in 2019 and is probable to grow with a healthy growth rate of more than 8.9% during the forecast period 2020-2027.
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Ankur Gupta, Head Marketing & Communications