Application Lifecycle Management (ALM) Market in Brief
Transparency Market Research has released a new market
report entitled " Application Lifecycle Management (ALM) Market
[Component – Software (On-premises (Agile Centric ALM, Process Centric ALM),
Cloud Based (Agile Centric ALM, Process Centric ALM)), Services (Consulting,
Design & Integration, Maintenance & Migration); Enterprise Size – Small
& Medium Enterprises and Large Enterprises; End-user - Automotive and
Transportation, Manufacturing, Aerospace and Defense, BFSI, Energy and
Utilities, Retail & E-commerce, Healthcare, IT and Telecom, Others
(Education, Government, and Logistics)] – Global Industry Analysis, Size,
Share, Growth, Trends and Forecast, 2019 – 2027." According to this
report, the global application
lifecycle management (ALM) market revenue stood at US$ 2,887.4 Mn in 2019 and
is expected to reach US$ 5,701.9 Mn by 2027, at a
CAGR of 8.9% during the forecast period from 2019 to 2027.
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Application Lifecycle Management (ALM) Market -
Definition
Application lifecycle management (ALM) software is used to
coordinate and manage different stages of software development. As a result,
software can be designed, delivered, and deployed faster, reducing time to
market. ALM solutions have been adopted by companies in various developed economies
with a view to maintaining their business agility and flexibility, as ALM
increases the business efficiency by creating and enforcing standards across
all related project stages, and performing more appropriate allocation of human
and technological resources. Also, increasing cloud-based ALM solutions are
being adopted by enterprises around the globe. This is due to the benefits
offered by cloud-based implementation models, such as low upfront costs, hosted
computing services without any investments in infrastructure, and increased
scalability. The cloud-based ALM solutions segment is anticipated to grow the
fastest, with an expected CAGR of 8.7% during the forecast
period due to their ability to provide global access to information and
processes in software development. The ALM services market is segmented into
consulting, professional, operation, and maintenance. In 2019, global ALM
services component revenue accounted for US$ 1,683.8 Mn, which is
approximately 58.3% of the overall ALM market. In terms of
enterprise size, revenue of small & medium enterprises accounted for US$
1,556.2 Mn in 2019, and is expected to expand at a CAGR
of 9.2% during the forecast period.
The IT and telecom end-user segment acquired the majority
share of the ALM market in the year 2019. It was also the
fastest growing segment, projected to expand at a CAGR of 10.2% from 2019 to 2027. Rising
technical as well as managerial challenges and variations in software with
different standards in different regions have led to high adoption of ALM
solutions among IT and telecom end-users.
In the future, the ALM market is expected to grow
significantly in Asia Pacific due to fast technological development and
population growth.
North America Application Lifecycle Management (ALM)
Market
The U.S. is one of the biggest spenders in application
lifecycle management (ALM) across the world. ALM market size of the U.S. is
projected to reach US$ 1,356.9 Mn by 2027 at
a CAGR of 8.9% during the forecast period. The North America
application lifecycle management (ALM) market is expected to reach US$
1,696.1 Mn by 2027 from US$ 684.7 Mn in 2019,
rising at a rate CAGR of 9.2% during the forecast period. One
of the key trends in the ALM market in North America is the adoption of
Internet of Things (IoT) in ALMs. IoT has huge potential in developing
economies, but is expected to have a higher overall value impact in advanced
economies such as North America because of the higher value per use.
Key Growth Drivers of the Application Lifecycle
Management (ALM) Market
- Rapid
uptake of mobile devices, growth in number of browsers/platforms - Developing
applications for multiple platforms involves many activities other than
just code writing, which are referred to as DevOps (development +
operations), or as ALM, throughout the application’s complete lifecycle.
Activities include planning and tracking work, designing code,
implementing, managing source code repository and continuous integration,
running builds, testing, running various diagnostic forms in development
and production areas, and monitoring the application performance and user
behavior in real time
- Need
for greater efficiency across teams and increased engineering
productivity - ALM enables project timelines management as
well as project delivery. It ensures that every requirement has been
mapped with software capability. ALM tests the performance of the software
throughout its lifecycle. ALM supports individuals, teams, and
institutions in their quest to scale up tester and developer productivity.
Furthermore, it extends the software lifecycle.
- Aging
systems development lifecycle (SDLC) infrastructure - The
SDLC model is used in project management and involves various stages in a
system development project, from the initial study to the maintenance of
the completed application. SDLC consists of a detailed plan that describes
how the development, maintenance, and replacement of specific software is
conducted. Complete structure of the software development process reduces
the development time of the software. ALM helps to reduce time taken for
the software development process which helps to increase the profitability
of the company.
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Key Challenges Faced by Application Lifecycle Management
(ALM) Market Players
- The
contribution of SMEs to the global economy is highly significant. A major
section of SMEs consider traditional ALM solutions as rigid processes with
high installation cost.
- Mid-sized
enterprises are aware of the importance of ALM, but reluctant to implement
it due to limited IT resources. Moreover, any change in standard operating
procedures (SOPs) also leads to the possibility of disturbance to current
users. Developers within an organization have been forced to use many
tools for the management of agile projects.
- Therefore,
demand for next-generation ALM tools is increasing, given that they are
anticipated to be lighter, leaner, and focused on specific best practices
in order to increase efficiency
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