Application Lifecycle Management Market Growing at CAGR of 7.1% | Key Players Micro Focus, Broadcom, Atlassian, Microsoft, IBM

Application Lifecycle Management Market Growing at CAGR of 7.1% | Key Players Micro Focus, Broadcom, Atlassian, Microsoft, IBM

“Atlassian(Australia), IBM(US), Microsoft(US), Micro Focus(UK), CollabNet(US), Broadcom(US), Digite(US), Inflectra(US), Intland(Germany), Perforce(US), and Siemens(Germany)”
Application Lifecycle Management Market by Solution (Software and Services), Platform (Web-Based Applications and Mobile-Based Applications), Deployment mode (On-premise and Cloud), Organization Size, Industry and Region – Global Forecast to 2024

Application Lifecycle Management (ALM) is the process of maintaining a software, right from idea conception, requirement management, designing, development, testing, and deployment to support and retirement of systems. ALM is conducted across 3 phases of the application lifecycle: governance, deployment, and operations. The global Application Lifecycle Management Market size is projected to grow from USD 3.1 billion in 2019 to USD 4.5 billion by 2024, at a CAGR of 7.1% from 2019 to 2024. A major growth driver for the market is the shift from Waterfall development model to Agile development model.

The scope of the report covers the ALM market by solution, deployment mode, platform, organization size, industry, and region. By solution, the services segment is expected to grow at a higher CAGR than the software segment, owing to the growing demand of agile-based methodologies and the increasing need to shorten the time-to-market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164601743

In the ALM market by platform, the mobile applications segment is expected to grow at a higher CAGR than the web-based applications segment during the forecast period due to the increased use of mobile applications by organizations in fields such as branding, marketing, and sales. Mobile ALM provides measures for security threats, such as code vulnerabilities, Structured Query Language (SQL) injection, and buffer overflows, during the development and testing phase of the project.

Based on regions, the ALM market in Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period, while North America is estimated to hold the highest market share in 2019. Due to the increasing adoption of cloud technologies and rising diverse IT demands for business functions, there has been a significant rise in the adoption of ALM in this region. With the pressure to achieve greater business agility, more IT organizations in APAC are planning to adopt the ALM environment to shorten the development lifecycle, improve operational efficiency, and reduce cost.

An increasing demand for cloud-enabled services is one of the major growth opportunities for vendors in the ALM market. The acceptance of cloud solutions among organizations has reduced the efforts and expenses related to the complexity of hardware installation and maintenance, thereby enhancing the company’s business model. The cloud, the convenient, easy-to-use, and flexible approach, has led to the growth of the ALM market. With the entire ecosystem changing to the cloud from on-premises legacy methods, organizations are migrating their ALM software on the cloud. The demand for cloud services is increasing in emerging economies tremendously. The cloud-based platform offers a centralized way to secure the web and mobile applications across an organization throughout the application development lifecycle.

Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=164601743

The major players in the ALM market include Atlassian(Australia), IBM(US), Microsoft(US), Micro Focus(UK), CollabNet(US), Broadcom(US), Digite(US), Inflectra(US), Intland(Germany), Perforce(US), and Siemens(Germany). These players have adopted various growth strategies, including new product launches, partnerships, agreements, mergers and acquisitions, and business expansions. Product launches and acquisitions were the 2 major strategies adopted by these players to achieve a strong foothold in the ALM market.

 

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: India
Website: https://www.marketsandmarkets.com/Market-Reports/application-lifecycle-management-alm-market-164601743.html