Published Date : Oct 23, 2017
ALBANY, New York, Oct 23, 2017: MarketResearchReports.biz has recently added a new market study to its repository, titled “Application Lifecycle Management (ALM) Market (By Component - Software, Services; By End-User - Automotive and Transportation, Aerospace and Defense, BFSI, Energy and Utilities, Retail, Healthcare, IT and Telecom, Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, this market is driven by the ability of ALM software to manage projects and deal with delivery releases, requirements, and others. It helps organizations achieve their business goals, thus witnessing increased demand. Application lifecycle management software solutions are much in demand from the automotive, BFSI, and healthcare sectors.
The growing uptake of mobile devices and the increasing number of platforms have generated many mobile applications, which require efficient ALM software for management. As the increasing number of mobile devices is also leading to multiplatform complexity, the demand for ALM solutions is propelling. The demanding need for greater efficiency across teams has fueled engineering productivity, which is driving the global application lifecycle management software market. The report also discusses the various factors which will inhibit the growth of this market, thus providing an unbiased research data about where the global ALM market is heading and why. The section on drivers and restraints help readers to understand which factors will help them achieve their business goals and which factors could pose a challenge and hamper their progress. The impact reports of both drivers and restraints are also included in this section.
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One of the key challenges faced by market players is the lack of visibility in requirement management. Poor communication is another challenge faced. The lack of traceability between requirements and other artifacts through software development lifecycle will also pose a challenge. However, the demand for ALM will continue to grow as systems development life cycle (SDLC) infrastructure will age. Aging of SDLC will create high demand for ALM across various sectors as SDLC has a rigid design and the procedure for positioning a project into stages is very inflexible, creating problems in estimating time or budget for each stage of the project.
The global application lifecycle management market is segmented on the basis of components into software and services. Of these, the software segment is anticipated to lead. The software segment is categorized into cloud-based deployment type and on-premise. This is further segmented into agile-centric ALM and process-centric ALM solutions for each type. The demand for agile-centric ALM is growing on account of the high demand for flexibility, scalability, and agility among business organizations. The changing customer requirements and dynamic needs of businesses will also boost the demand for application lifecycle management and drive its market across the globe.
By end users, the application lifecycle management market is segmented into aerospace and defense, automotive and transportation, energy and utilities, BFSI, healthcare, retail, and IT and telecom. The growing industrialization and advancements in technology will drive demand for ALM in the IT and telecom and automotive and transportation sectors. The demand for application lifecycle management is also increasing in the healthcare sector on account of the growing incidences of health issues leading to the emergence of various advanced technologies in healthcare sector, further leading to a significant pace of growth for the healthcare segment of the ALM market.
The market for ALM is studied from a regional as well as a global point of view. On the basis of geography, the market is segmented into Asia Pacific, Europe, North America, and the Rest of the World. Of these, the market for application lifecycle management is attractive in the developed regions of Europe and North America.
Key ALM companies include: CollabNet, Inc., Atlassian Corporation Plc, IBM Corporation, Micro Focus International plc, Inflectra Corporation, HP Development Company, L.P., Parasoft Corporation, Microsoft Corporation, VersionOne, Inc., and Polarion Software GmbH.
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