Increasing Adoption of ALM Tools to Shorten Release Time and Time-To-Market is Escalating the Market Growth

The significant rise in the ALM market was witnessed by the following options an Increasing need for a shortening release timeline in the market & Shift of development models from waterfall to agile. ALM tools provide services such as requirement management, planning & estimation, support & maintenance & real-time planning & team engagement. It enables organizations to deliver services on time to their users by providing an end-to-end performance report before deploying the application.

The increase in the shift of models from waterfall to agile is due to the increase in the need for constant updates during the development phase of the application. By using this agile method model, changes can be made according to customer satisfaction.

According to Marketlook Consulting’ research report “Global Application Lifestyle Management Market Analysis, 2021”, the Global ALM market is anticipated to grow at a CAGR of 7.02% during 2022-29. The market would reach USD 6.1 Bn by 2029.

Based on components, the market is segmented into Solutions and Services. The solution segment holds the larger market share in 2021. The growing demand for requirement gathering, estimate, planning & designing, development, and testing is contributing to the growing market of this segment.

Based on Industry verticals, the market is classified into BFSI, Retail & E-commerce, manufacturing, government & defense, energy & utilities, IT & telecom, Education, healthcare, and others.  The BFSI segment grabbed a considerable market share in 2021. Moreover, the market share of this segment would witness a considerable CAGR during the forthcoming years as well.

“Global ALM Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Application Lifestyle Management providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

North America Dominated the Market

Based on regions, North America dominated the global application lifestyle management market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29. North America has always been a cutting-edge & competitive environment. The region continues to be one of the most progressive in terms of technological advancements.  Due to the variety of variables including the presence of multiple firms with modern IT infrastructure & the availability of technology. The growth in the US can be attributed to several initiatives taken by the government to carry out industrial digitalization. Scrutinizing these factors for the countries is expected to enhance the value chain of the Application Lifestyle Management Market and aid us with better insights about the same in the forthcoming period as stated in Marketlook Consulting research report “Global Application Lifestyle Management Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global ALM market are Micro Focus, Broadcom, Atlassian, Microsoft, IBM, Intel, Collabnet, Digite, Rocket Software, and Jama Software.

Market Segmentation:

1. By Components (Solution, Service)
2. By Platform (Web-based application, Mobile-based application)
3. By Deployment Mode (On-premise, Cloud)
4. By Organization Size (SMEs, Large Enterprise)
5. By Industry Verticals (BFSI, Retail & E-commerce, Manufacturing, Government & Defense, Energy & Utilities, It & Telecom, Education, Healthcare, Others)
6. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa)
7. By Company (Micro Focus, Broadcom, Atlassian, Microsoft, IBM, Intel and, Collabnet, Digite, Rocket Software, and Jama Software)

Key questions answered in the study:

1. What are the current and future trends of the ALM industry?
2. How the industry has been evolving in terms of components and platforms?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the ALM industry?
5. What are the customer orientation, purchase behavior, and expectations from the ALM firms across various regions?