A recent report published by Infinium Global Research on the application lifecycle management market provides an in-depth analysis of segments
and sub-segments in the global as well as regional application lifecycle
management market. The study also highlights the impact of drivers, restraints,
and macro indicators on the global and regional application lifecycle
management market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast, and dollar values of the global
application lifecycle management market. According to the report, the global
application lifecycle management market is projected to grow at a CAGR of 9.0%
over the forecast period of 2020-2026.
Application lifecycle management has major elements as requirement
management, release management, design, build, testing, change, integration,
and projects. It delivers governance, development, and maintenance for
application software. Application lifecycle management works for the whole
application lifecycle. The application lifecycle management solutions help
software development teams to manage their project status that makes
organizations fulfill their business goals.
The increasing need for scalability, agility, and flexibility
across business organizations to respond to emerging business needs drive the
development of application lifecycle management market. The surge in the number
of mobile devices and an increasing number of browsers worldwide led to a huge
number of mobile applications that need an effective application development
cycle. This huge number of mobile devices causes multiplatform complexity and
contributes to a rise in demand for application lifecycle management solutions.
Further, rising demand for greater efficiency across teams and enhanced
engineering productivity drives the expansion of the application lifecycle
management market. Additionally, various challenges such as poor communication,
lack of visibility in management, lack of traceability through the software
development cycle propels the growth of the market.
Application lifecycle management solutions improve productivity
and deliver quick output across engineering, development, and quality assurance
teams. It increases the efficiency among software development teams and
promotes the accurate allocation of human and technology resources.
Furthermore, the aging of systems development life cycle infrastructure fuels
the demand for the application lifecycle management market. The growing
adoption of application lifecycle management solutions in various industries
such as healthcare, automotive, BFSI, and others is one of the factors leading
to the growth of the market. On the flip side, the slow disposal rate of legacy
methods hampers the growth of the application lifecycle management market.
Moreover, the emergence of open-source application lifecycle management tools
creates several opportunities in the market.
Based on geography, the global application lifecycle management
market is divided into North America, Asia-Pacific, Europe, and the Rest of the
World. North America is expected to have a premium share in the global
application lifecycle management market. The rapid adoption of innovative
technologies and the presence of various enterprises with advanced IT
infrastructure in North America drive the growth of the application lifecycle
management market in the region.
Asia-Pacific region is anticipated to grow in the global application
lifecycle management market with a healthy CAGR over the forecast period. The
rising adoption of mobile devices and the Internet of Things trends in the
Asia-Pacific region drive the market growth in the region. Europe has
significant growth opportunities in the global application lifecycle management
market owing to the increasing demand for streamlining complex application developments
in the region.
The report on the global application lifecycle management market
covers segments such as component, enterprise size, and end-user. On the basis
of component, the sub-markets include software, and services. On the basis of
enterprise size, the sub-markets include small and medium enterprise, and large
enterprises. On the basis of end-user, the sub-markets include manufacturing,
automotive and transportation, BFSI, aerospace and defense, healthcare, IT and
telecom, retail and E-commerce, and other end-users.
The report provides profiles of the companies in the market such
as Microsoft Corporation, Parasoft Corporation, SAP SE, Digite Inc., Inflectra
Corporation, CollabNet, Inc., Atlassian Corporation Plc, Micro Focus
International plc, HP Development Company, LP, International Business Machines
Corporation, and Other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of application
lifecycle management market. Moreover, the study highlights current market
trends and provides forecast from 2020-2026. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.