Ranchi News Desk

Application Lifecycle Management Market Growing at a CAGR 7.1% | Key Player Micro Focus, Broadcom, Atlassian, Microsoft, Rocket Software

 Breaking News
  • No posts were found

Application Lifecycle Management Market Growing at a CAGR 7.1% | Key Player Micro Focus, Broadcom, Atlassian, Microsoft, Rocket Software

October 22
17:44 2020
Application Lifecycle Management Market Growing at a CAGR 7.1% | Key Player Micro Focus, Broadcom, Atlassian, Microsoft, Rocket Software

Application Lifecycle Management Market by Solution (Software and Services), Platform (Web-Based Applications and Mobile-Based Applications), Deployment mode (On-premise and Cloud), Organization Size, Industry and Region – Global Forecast to 2024
Application Lifecycle Management Market by Solution (Software and Services), Platform (Web-Based Applications and Mobile-Based Applications), Deployment mode (On-premise and Cloud), Organization Size, Industry and Region – Global Forecast to 2024

The Application Lifecycle Management (ALM) Market size is expected 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% during the forecast period. This high growth is due to the increasing adoption of ALM tools to shorten the release time and time-to-market. The adoption of new methodologies, such as Agile and DevOps, has an impact on customer experience.

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.

Speak to Our Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=164601743

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.

The major players in the ALM market 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). These players have adopted various growth strategies, including new product launches, partnerships, agreements, mergers and acquisitions, and business expansions. Product launches and acquisitions were the 2 major strategies adopted by these players to achieve a strong foothold in the ALM market.

IBM is one of the prominent players in the ALM market. It has an ALM product portfolio with a wide range of functionalities for requirements, quality assurance, software configuration, software change, and development and distribution domains.

The company’s major operations consist of 5 business segments, namely, cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. Furthermore, the company specializes in cloud, mobile, cognitive, security, research, Watson analytics, consulting, commerce, experience design, Internet of Things (IoT), technology support, industry solutions, systems services, IT infrastructure, resiliency services, and financing. Moreover, it has plans to invest in new businesses, products, services and technologies, systems, facilities, infrastructures, and acquisitions. For instance, in 2017, IBM deployed Agile lifecycle manager version 1.2, which provides design, test, and automated deployment platform to address technical challenges anchored to Network Functions Virtualization (NFV).

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164601743

Microsoft is another innovative company in the ALM market. The company develops and supports software, services, devices, and solutions, which deliver value to customers, and assist people and businesses in knowing their potential. It offers a large product portfolio, which includes operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. Microsoft offers Team Foundation Server (TFS), which is now known as Azure DevOps Server, an ALM solution, with a wide range of functionalities. This solution can help track work visually; stakeholders have a clear insight into the development team’s capacity and can better plan and prioritize tasks and avoid fire drills.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/application-lifecycle-management-alm-market-164601743.html

Related Articles