The global application lifecycle management market size is poised to grow by USD 1.78 billion during 2020-2024, progressing at a CAGR of over 9% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Application Lifecycle Management Market 2020-2024 (Graphic: Business Wire)
Key application lifecycle management market driver, such as the exponential increase in the demand for SaaS-based ALM will drive market growth. Most of the organizations try to modify their customer experience, accelerate time to market, deliver new services faster, and enter new markets. SaaS-based ALM enables enterprises to gain productivity enhancement through scheduled software upgrades with no application downtime and expensive diversion of resources. SaaS-based ALM offers a collaborative environment for managing the entire software development process. Furthermore, the capability of SaaS-based ALM to detect bugs in advance and correct them will propel the growth of the ALM market.
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- The major application lifecycle management market growth came from on-premises deployment model segment. Organizations that require their applications and data to be within their corporate firewall will adapt the on-premises deployment model. Therefore, the application lifecycle management market share growth by the on-premise segment will be significant during the forecast period.
- North America was the largest application lifecycle management market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The need to improve business processes to enhance customer satisfaction and gain a competitive advantage will significantly drive application lifecycle management market growth in this region over the forecast period.
- The global application lifecycle management market is fragmented. Atlassian Corp. Plc, Broadcom Inc., CollabNet Inc., HP Inc., International Business Machines Corp., Micro Focus International Plc, Microsoft Corp., Perforce Software Inc., SAP SE, and Siemens AG. are some of the major market participants. To help clients improve their market position, this application lifecycle management market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global application lifecycle management market 2020-2024 is expected to have Neutral and At par. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/application-lifecycle-management-market-industry-analysis
Increasing Use of ALM to Attain Improved Cost-saving in Businesses will be a Key Market Trend
The increasing use of ALM to attain improved cost-saving in businesses is one of the major trends driving application lifecycle management market growth. ALM enables the centralized management of project portfolios, which reduces costs and provides on-time services to markets. In globalized business environments, the management of IT infrastructure across various sites is difficult and resource-intensive for large enterprises. Moreover, through centralization, application management services provide organizations with more efficient problem-solving capabilities and system maintenance at a relatively low cost. Furthermore, developments in various projects can be tracked at a rapid pace, which enhances the processing speed and response time. Such advantages of ALM will drive ALM market growth during the forecast period.
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Application Lifecycle Management Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist application lifecycle management market growth during the next five years
- Estimation of the application lifecycle management market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the application lifecycle management market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of application lifecycle management market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Deployment
- Market segments
- Comparison by Deployment
- On-premise – Market size and forecast 2019-2024
- Cloud-based – Market size and forecast 2019-2024
- Market opportunity by Deployment
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Atlassian Corp. Plc
- Broadcom Inc.
- CollabNet Inc.
- HP Inc.
- International Business Machines Corp.
- Micro Focus International Plc
- Microsoft Corp.
- Perforce Software Inc.
- SAP SE
- Siemens AG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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