Application Lifecycle Management Software Market Report: Market anticipated to reach USD 5 BN by 2026
Posted On October 28, 2020
The Global Application Lifecycle Management Software Market value is expected to grow from USD 2.9 BN in 2019 to USD 5 BN by 2026 at a CAGR of 8% during 2020-2026 as per the market report by Value Market Research. Application lifecycle management software is a software application used for product lifecycle management of computer programs. The key trend stimulating the ALM market’s growth is the increased adoption of software tools to shorten the development time, release time, and time-to-market software applications. The growing need for improved communication, a collaboration between teams, and improved business efficiency by reducing costs will further propel market growth. Easy integration, better scalability, enhanced reliability, increased agility, and user-friendliness of ALM software will favor ALM’s rapid adoption by small and medium-sized enterprises. Rapid industrialization and automation of various industries will boost the market growth. The technical and managerial challenges associated with software and availability of different software standards are the main challenging factors that could influence market growth.
Application lifecycle management software is a software suite that manages an application’s life cycle from conception to the end of life. It encompasses several disciplines of a software program like requirements management, architecture, computer programming, testing, maintenance, change management, integration, project management, and release management. An ALM leads to faster software deployments, high-quality products, improved workflow visibility, and increased developer satisfaction. ALMs are built with API management capabilities to enable third-party tool integration. Different ALM software platforms and suites with varied features are available. The key attribute that distinguishes ALM software from project management tools is that these suites also include the quality assurance part of software development.
The report “Global Application Lifecycle Management Software Market Report By Solution (Software, Services), By Deployment (On-Premises, Cloud), By Organization Size (Small And Medium-Sized Enterprises (SMEs), Large Enterprises), By Industry Vertical (Banking, Financial Services, And Insurance (BFSI), Telecom And IT, Media And Entertainment, Retail And Ecommerce, Healthcare, Manufacturing, Energy And Utilities, Others (Transportation And Logistics, Education And Government) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" initially provides the market overview, executive summary followed by detailed revenue analysis bifurcated by segments and regions. The study researches the historical trends of the industry along with understanding all the geo-economic conditions related to the application lifecycle management software market, thus making the foundation of the report strong and reliable.
On the basis of solution the market is segmented into Software, Services. By deployment the application lifecycle management software market is categorised as On-premises, Cloud. By organization size the application lifecycle management softwaremarket is categorised as Small and Medium-sized Enterprises (SMEs), Large Enterprises. Based on industry vertical the application lifecycle management software market is segmented as Banking, Financial Services, and Insurance (BFSI), Telecom and IT, Media and Entertainment, Retail and Ecommerce, Healthcare, Manufacturing, Energy and Utilities, Others.
Regionally, the report is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In this section of the report the data related to all the segments are analysed as per regions.
The Report Segments Global Application Lifecycle Management Software Market -
By Organization Size
- Small and Medium-Sized Enterprises (SMEs)
- Large Enterprises
By Industry Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Telecom and IT
- Media and entertainment
- Retail and ecommerce
- Energy and utilities
- Others (Transportation and logistics, Education and Government)
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
IBM Corporation, Microsoft Corporation, CA Technologies Inc., Hewlett-Packard Development Company L.P., VersionOne Inc., Electric Cloud Inc., Changepoint Corporation, Atlassian Corporation, Micro Focus, Rocket Software, Inc.
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