The global application lifecycle management market was valued at over USD 1 billion in 2016 and is expected to exceed USD 2 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global application lifecycle management market, under its enterprise application portfolio. This market analysis considers the main drivers and key emerging trends and presents a competitive analysis of key vendors like Atlassian, HPE, IBM, and Microsoft.
According to Amit Sharma, a lead analyst for enterprise application research at Technavio, “The implementation of application lifecycle management solutions help organizations to focus on real-time decision-making. These systems are designed to monitor business application management services, which will result in the growth of this market. Additionally, ALM provides flexible, integrated, and real-time decision-making support for those in the top management.”
The ALM systems are designed to improve responsiveness across an organization. The various elements in an organization that is covered in the ALM services include multinational environments, such as language, currency, and accounting standards. The service providers offer better analysis and planning capabilities, which enable comprehensive and integrated management of related businesses and corresponding data.
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Emergence of next-generation ALM
The vendors are focusing on developing and enhancing software and mobile applications to cater to the changing market landscape and to deliver better customer experiences. The increasing demand for faster delivery of engaging applications with high quality and excellent performance is driving the growth in the ALM market. The manufacturers are focusing on delivering new digital innovations and will encourage them to build, test, and deliver software in new ways. The DevOps processes are estimated to gain immense popularity in the market over the next few years.
Increased demand of SaaS-based ALM
The organizations are implementing SaaS-based ALM to modify their customer experience, accelerate time to market, deliver new services faster, and enter new markets. This application enables enterprises to gain productivity enhancement through scheduled software upgrades with no application downtime and expensive diversion of resources. Also, the SaaS-based ALM offers a collaborative environment for managing the entire software development process. Such advantages will drive the growth in the application lifecycle management market.
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This research report contains an exhaustive study of market shares and sizes of the sub-sections and geography. A breakdown of the key enterprises, including their market shares, business overview, key financials, etc. is provided in this study. This market study also offers a detailed analysis of key drivers, challenges, and opportunities promoting this market.
A more detailed analysis is obtainable in the Technavio report named, ‘Global Application Lifecycle Management Market 2017-2021’. Technavio also customizes reports by other countries and specific segments upon request.
Other related reports:
- Global Mainstream Product Lifecycle Management Market 2017-2021
- Global Cloud Product Lifecycle Management Market 2016-2020
- Global GIS Market in the Transportation Industry 2016-2020
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