Transparency Market Research (TMR) has recently published a study on
the global application lifecycle management market (ALM) and
estimated the market to expand at a healthy CAGR of 8.90% during the
period from 2015 and 2023.The research report, titled “Application
Lifecycle Management (ALM) Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2015 - 2023,” expects this
market to increase from a value of US$2.04 bn in 2014 to US$4.4 bn by
the end of the forecast period.
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Application lifecycle management (ALM) supervises the lifecycle of
computer programs. It enables software development teams to manage
their projects right from the initial planning to the retirement by
providing governance, development, and maintenance of application
software. In recent times, ALM solutions have gained acceptance in
many industries such as automotive, medical healthcare, and BFSI,
which has driven the growth of the global ALM market significantly.
The report states that the increasing demand for smartphones,
tablets, and other mobile communication devices across the world has
been leading to the rising need for software applications, creating a
massive requirement for ALM. On account of this, the market for ALM
is likely to gain a significant impetus in the global arena over the
forecast period.
In this study, the worldwide market for ALM has been analyzed on the
basis of the component, the end user, and the regional spread of this
market. Based on the component, the market has been classified into
ALM software and ALM service. In 2014, the ALM services segment led
the overall market with a share of more than 55%. Consulting ALM,
professional ALM, and operation and maintenance ALM are the main
components of the ALM services market.
Further, the report classifies the ALM software segment into
on-premise ALM software and cloud-based ALM software. The cloud-based
ALM software segment is projected to report the fastest CAGR of 8.7%
during the forecast period. The ability of cloud-based ALM software
solutions to provide worldwide access to information and the
processes involved in software development is likely to stimulate
this market segment substantially in the near future.
Based on the end user, the report segments the global application
lifecycle management market into BFSI, healthcare, IT and telecom,
aerospace and defense, energy and utilities, automotive and
transportation, retail, and other end-use industries. In 2014, the
demand for ALM solution was the highest from the IT and telecom
industry. Analysts expect this trend to continue over the forecast
period.
Regionally, the report has classified this market into North America,
Asia Pacific, Latin America, Europe, and the Middle East and Africa.
Asia Pacific is anticipated to register the highest growth in the
overall ALM market during the forecast period, notes the study.
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IBM Corp., Microsoft Corp., Polarion Software GmbH, Atlassian Corp.,
Micro Focus International Plc, VersionOne Inc., Parasoft Corp.,
CollabNet Inc., Inflectra Corp., and HP Development Co. L.P. are the
leading enterprises in the global ALM market, states the research
report.
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