Application Lifecycle Management Market Set for Exquisite Growth with Globally Leading Players
TheApplication Lifecycle Management (ALM) market size is expected to grow from USD3.1 billion in 2019 to USD 4.5 billion by 2024, at a Compound Annual GrowthRate (CAGR) of 7.1% during the forecast period. This high growth is due to theincreasing adoption of ALM tools to shorten the release time andtime-to-market. The adoption of new methodologies, such as Agile and DevOps,has an impact on customer experience.
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The majorplayers 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 haveadopted 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 theseplayers to achieve a strong foothold in the ALM market.
IBM is oneof the prominent players in the ALM market. It has an ALM product portfoliowith a wide range of functionalities for requirements, quality assurance,software configuration, software change, and development and distributiondomains.
Thecompany’s major operations consist of 5 business segments, namely, cognitivesolutions, global business services, technology services and cloud platforms,systems, and global financing. Furthermore, the company specializes in cloud,mobile, cognitive, security, research, Watson analytics, consulting, commerce,experience design, Internet of Things (IoT), technology support, industrysolutions, systems services, IT infrastructure, resiliency services, andfinancing. Moreover, it has plans to invest in new businesses, products,services and technologies, systems, facilities, infrastructures, andacquisitions. For instance, in 2017, IBM deployed Agile lifecycle managerversion 1.2, which provides design, test, and automated deployment platform toaddress technical challenges anchored to Network Functions Virtualization(NFV).
Microsoft isanother innovative company in the ALM market. The company develops and supportssoftware, services, devices, and solutions, which deliver value to customers,and assist people and businesses in knowing their potential. It offers a largeproduct portfolio, which includes operating systems, cross-device productivityapplications, server applications, business solution applications, desktop andserver management tools, software development tools, and video games. Microsoftoffers Team Foundation Server (TFS), which is now known as Azure DevOps Server,an ALM solution, with a wide range of functionalities. This solution can helptrack work visually; stakeholders have a clear insight into the developmentteam’s capacity and can better plan and prioritize tasks and avoid fire drills.
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