According to a research report "Application Lifecycle Management Market saw a rise mainly due to the increase in the adoption rate of ALM tools to shorten the release time and time-to-market. Adoption of new methodologies, such as Agile and DevOps, has an impact on customer experience. Application Lifecycle Management Market by solution, platform, deployment mode, industry, organization size, and region - Global Forecast to 2024" published by MarketsandMarkets. Application Lifecycle Management (ALM) market size is projected to grow from USD 3.1 billion in 2019 to USD 4.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.1% from 2019 to 2024.
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On-premises segment to hold a larger market
sizeduring the forecast period
The on-premises deployment
mode is the traditional method of implementing the ALM software across the
enterprise’s IT ecosystem. The on-premises deployment mode needs the
organization to have the entire infrastructure to run and support the ALM
software when needed. This type of deployment mode indeed gives full control to
the ALM software, but are cost heavy. However, it limits the storage capacity
that is needed to keep up with new functionalities and technologies through
upgradation. On the basis of business types and needs, organizations can choose
to opt-in for on-premises deployments, such as companies dealing with
confidential user data.
Large enterprises segment to hold a larger
market size in 2019
The ALM software helps large
enterprises automate and centralize development, quality, project, and resource
management metrics in a unified dashboard, which is critical to a product team
and the overall organization’s demonstration of quality and agility. The demand
for flexible, scalable, and convenient services by large enterprises is
expected to encourage the market players to come up with newer technologies and
innovative solutions.
Opportunity: Emergence of open-source ALM
tools
Today’s software industry saw an
emergence of an open source platform which that lets developers create open
source software to help grow the developer community. Similar growth has been
witnessed towards the ALM solutions. Commercial ALM solutions costs the company
and requires a hefty one-time investment, which are is mainly considered by
large firms. Open source ALM solutions are mainly used by Small medium
enterprises (SMEs) on a subscription model, otherwise known as Software as a
Service (SaaS) model. Organizations are using open source software for mainly
three 3 reasons, namely to reduce IT costs, for a more secured system, and for
faster delivery. Thus, SMEs are taking benefits of these features to manage
their application lifecycle.
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North
America to hold the largest market size during the forecast period
North
America has always been an innovative and competitive ground for every
technology. The region remains one of the fastest in the adoption of innovative
technologies. Currently, the US holds the highest share in the ALM market, due
to various factors, such as the presence of several enterprises with advanced
IT infrastructure and the availability of technical expertise. Furthermore, the
growth of the market in the US can be attributed to several initiatives taken
by the government of the country to carry out industrial digitalization, as
well as rapid technological innovations and increased use of connected devices
taking place in the US. Presence of leading companies such as Microsoft,
Broadcom, and IBM has fueled innovations in the ALM market, whereas startup
companies, including Perforce, CollabNet, Inflectra, and Digité, have
contributed to the growth of the market to a large extent. North America in the
coming years is projected to continue its lead in the ALM market.
Market
Players
Key
market players profiled in this report include Atlassian(Australia), IBM(US),
Microsoft(US), Micro Focus(UK), CollabNet(US), Broadcom(US), Digite(US),
Inflectra(US), Intland(Germany), Perforce(US), and Siemens(Germany).
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