Application Lifecycle Management Market growth Industry Study in Detail
Application Lifecycle Management Market growth Industry Study in Detail
The report on the Global Application Lifecycle Management Market covers Industry Size, market valuation by segmentation as well as region, historical trends, dynamics, country-level analysis for every segment, key Vendor’s share analysis, competitive landscape and supply chain analysis.

The Application Lifecycle Management (ALM) market size is expected to grow from USD 3.1 billion in 2019 to USD 4.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period. This high growth is due to the increasing adoption of ALM tools to shorten the release time and time-to-market. The adoption of new methodologies, such as Agile and DevOps, has an impact on customer experience.

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.

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North America has always been an innovative and competitive ground for every technology. The region remains one of the fastest in the adoption of innovative technologies. Currently, the US holds the highest share in the ALM market, due to various factors, such as the presence of several enterprises with advanced IT infrastructure and the availability of technical expertise. Furthermore, the growth of the market in the US can be attributed to several initiatives taken by the government of the country to carry out industrial digitalization, as well as rapid technological innovations and increased use of connected devices taking place in the US. Presence of leading companies such as Microsoft, Broadcom, and IBM has fueled innovations in the ALM market, whereas startup companies, including Perforce, CollabNet, Inflectra, and Digité, have contributed to the growth of the market to a large extent. North America in the coming years is projected to continue its lead in the ALM market.

IBM is one of the prominent players in the ALM market. It has an ALM product portfolio with a wide range of functionalities for requirements, quality assurance, software configuration, software change, and development and distribution domains.

The company’s major operations consist of 5 business segments, namely, cognitive solutions, 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, industry solutions, systems services, IT infrastructure, resiliency services, and financing. Moreover, it has plans to invest in new businesses, products, services and technologies, systems, facilities, infrastructures, and acquisitions. For instance, in 2017, IBM deployed Agile lifecycle manager version 1.2, which provides design, test, and automated deployment platform to address technical challenges anchored to Network Functions Virtualization (NFV).

Microsoft is another innovative company in the ALM market. The company develops and supports software, services, devices, and solutions, which deliver value to customers, and assist people and businesses in knowing their potential. It offers a large product portfolio, which includes operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. Microsoft offers Team Foundation Server (TFS), which is now known as Azure DevOps Server, an ALM solution, with a wide range of functionalities. This solution can help track work visually; stakeholders have a clear insight into the development team’s capacity and can better plan and prioritize tasks and avoid fire drills.

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