Application Lifecycle Management (ALM) Market by Solution (Software, and Services), Platform (Web-Based Applications, and Mobile Applications), Deployment Mode (On-Premises, and Cloud), Organization Size, Industry, and Region - Global Forecast to 2022
The Application Lifecycle Management (ALM) market is estimated to grow at a CAGR of 7.0% during the forecast period.
The ALM market size is expected to grow from USD 2.58 billion in 2017 to USD 3.63 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period. This growth is expected to be fuelled by the digital transformation across various verticals, the increasing adoption of Agile and DevOps, and the emergence of advanced ALM intelligence. However, with the presence of large players and open source ALM providers, the market is expected to be highly competitive.
Services subsegment is expected to witness a higher growth rate in the solutions segment during the forecast period
The services segment is expected to witness a higher growth rate during the forecast period. The service providers help in implementing intelligent applications to streamline business processes. The benefits of employing ALM services include improved organizations’ performance, reduced complexities and operating expenses, standardized and improved project delivery, improved engagement cash flow and profitability, simplified project planning and execution, streamlined project lifecycle, and improved resource productivity.
Mobile applications segment under the platform segmentationis expected to have a higher growth rate during the forecast period
The mobile applications segment is expected to witness a higher growth rate during the forecast period. People’s lives have changed, owing to the increasing use of smartphones and mobile applications. Organizations are using mobile applications for branding, customer engagement, direct sales, and indirect sales. With the increase in the adoption of mobiles, the security of devices and applications have also become crucial. Mobile ALM security involves code vulnerabilities, such as Structured Query Language (SQL) injections and buffer overflows that are addressed during the development and testing phases of mobile ALM projects.
Asia Pacific (APAC) is expected to grow at the fastest rate during the forecast period
As per the geographic analysis, the APAC region is expected to witness the fastest growth rate in the ALM market, due to the region’s nature of rapidly adopting new technologies, making higher investments in digital transformation, and its aim at increasing the Gross Domestic Product (GDP). Major countries that have the potential in this region include Australia, Singapore, China, Korea, Hong Kong, and India. These countries are rapidly investing in technological transformation. The growth in this region is expected to be driven by the presence of half of the world’s mobile users, the largest number of social media users, the rising trend of the online shopping experience, and the increasing internet connection and speed. All these factors are expected to contribute to the growth of the ALM market in the APAC region. The large enterprises and Small and Medium-sized Enterprises (SMEs) in APAC are acknowledging the importance of ALM software and focusing on the deployment of dedicated ALM software to facilitate affordable applications and efficiently serve their customers’ requirements.
The break-up profiles of the primary participants have been given below:
• By Company Type: Tier 1 (30%), Tier 2 (40%), and Tier 3 (30%)
• By Designation: C-Level (40%), Director Level (25%), and Manager Level (35%)
• By Region: North America (35%), APAC (30%), Europe (25%), and RoW (10%)
The key ALM market vendors profiled in the report are as follows:
1. Atlassian (Australia)
2. IBM (US)
3. Microsoft (US)
4. Micro Focus (UK)
5. CollabNet (US)
6. CA Technologies (US)
7. Digite (US)
8. Inflectra (US)
9. Intland Software (Germany)
10. Perforce (US)
11. Siemens (Germany)
The global ALM market has been segmented by solution, deployment mode, platform, organization size, vertical, and region. A detailed analysis of the regions has been done to provide insights into the potential business opportunities across different regions. In addition to this, the strength of service portfolio and business strategy excellence are some of the other MarketsandMarkets analysis included in the report.
Reasons to Buy the Report
The report would help the market leaders/new entrants in the ALM market in the following ways:
1. The report segments the ALM market comprehensively to provide the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
2. The report helps the stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
3. The report helps the stakeholders understand the competitors and gain more insights to enhance their position in the market.