- Global Application Lifecycle Management Market to reach a market valuation of approximately USD 5.70 bn by the end of the year 2027
- Businesses' needs for flexibility, scalability, and agility to drive demand in global application lifecycle management market
ALBANY, New York, March 9, 2020 /PRNewswire/ -- As businesses find themselves in an ever-changing and ever-evolving consumer demand landscape, need for responding swiftly to consumer preferences and requirements is increasing. In turn, this is leading to a pressing demand for agility and scalability in organizations. Thus, it does not come as a surprise that the global application lifecycle management market is anticipated to chart a growth rate of 8.9%, compounded annually. In this period, the market would grow from USD 2.88 bn at the start (2019) to USD 5.70 bn at the end (2027) of the assessment period.
"Increase in use of mobile devices will contribute to significant growth in global application lifecycle management market over the forecast period as ALM helps massively in planning, tracking, and designing code and implementing in applications development. IT and Telecom would be one of the dominant market segments in this period", states Transparency Market Research.
Key Findings of the Application Lifecycle Management Market Study
In terms of enterprise size, the small enterprise will dominate the global application lifecycle management market over the forecast period; the segment will grow at 9.2% growth rate, compounded annually over the stated period
Notable growth in IT and Telecom, and Automotive and Transportation would help the segment to contribute to overall global application lifecycle management market growth in a major way
Rapid industrialization and technological advancement to be notable growth factors from 2019 to 2027
Explore 118 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Application Lifecycle Management market by 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 Application Lifecycle Management Market: Key Driving Factors
A number of factors - trends and drivers – are supporting growth in the global application lifecycle management market. Transparency Market Research breaks the prominent ones down as follows:
Increase in use of mobile devices and development of new browsers are driving the global application lifecycle management market to further growth
Need to improve timelines in terms of project delivery and management is leading to higher demand for Application Lifecycle Management, contributing to growth in global application lifecycle management market
The traditional SDLC (Systems Development Lifecycle) infrastructure is ageing and often falls short on few counts when compared with Application Lifecycle Management, paving way for the latter to chart a high growth curve over the forecast period
Key Impediments for Global Application Lifecycle Management Market Players
Transparency Market Research notes few restraints that are limiting growth in global application lifecycle management market. One of the restraints that is significant involves SMEs perception of Application Lifecycle Management solutions; many feel installation costs are high and that the systems are rigid as far as their own requirements are concerned. Besides, limited IT resources come in the way of implementation of these solutions in such enterprises.
Global Application Lifecycle Management Market: Region-wise Analysis
North America to lead the global application lifecycle management market from 2019 to 2027, owing to massive adoption of Internet of Things (IoT) in Application Lifecycle Management
United States to be a major contributor to overall growth of global application lifecycle management market
South America, and Middle East and Africa to grow at a significant pace over the forecast period
Analyze Application Lifecycle Management market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
The global application lifecycle management market includes a number of prominent players. Some of these include Atlassian Corporation Plc, CollabNet, Inc., The International Business Machines Corporation, Inflectra Corporation, Micro Focus International plc, HP Development Company, L.P., Microsoft Corporation, Parasoft Corporation, Polarion Software GmbH, SAP SE, Digite, Inc. Technological advancement forms an important determinant of growth for these players.
Transparency Market Research provides a comprehensive profile of these players, along with strategies, and market share. It is worth noting here that a range of strategies are often deployed by market players in this landscape. Some of these are alliances such as strategic collaborations and synergistic partnerships. Mergers and Acquisitions also play a crucial role in helping gain a larger share of the overall market growth.
Transparency Market Research has segmented the Application Lifecycle Management market report based on component, enterprise size, end-user, and region.
Digital Talent Acquisition Market - According to a new market report pertaining to the global chatbot market published by Transparency Market Research the global chatbot market was valued at US$ 274.5 Mn in 2019 and is projected to reach US$ 2,358.2 Mn by 2027, at a CAGR of 31.3% during the forecast period from 2020 to 2027.
Smart and Mobile Supply Chain Solutions Market - The global smart & mobile supply chain solutions market was valued at US$ 13,614.8 Mn in 2018. It is expected to expand at a CAGR of 9.9% during the forecast period. The scope of smart supply chain solutions is high among third-party logistic (3PL) service providers.
Process Safety Services Market - The global process safety services market was valued at US$ 18,337.7 Mn in 2018 and is expected to expand at a CAGR of 4.9% during the forecast period. Growing safety demands in the oil & gas and chemical industry is expected to drive the process safety services market.
Wireless Mesh Network Market- The global wireless mesh network market was valued at US$ 5,594.0 Mn in 2019 and is forecast to expand at a CAGR of 9.5% from 2020 to 2027, reaching a value of US$ 11,622.9 Mn in 2027.
Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.