The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.
According to The Business Research Company’s Application Lifecycle Management, The application lifecycle management market size has grown strongly in recent years. It will grow from $4.5 billion in 2023 to $4.78 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to regulatory compliance requirements, focus on quality assurance and testing, demand for traceability and transparency, application portfolio management, low-code and no-code development.
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The application lifecycle management market size is expected to see strong growth in the next few years. It will grow to $6.63 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.The growth in the forecast period can be attributed to microservices and containerization, digital transformation initiatives, shift to remote and distributed development, comprehensive test automation, compliance management features. Major trends in the forecast period include cloud-based alm solutions, enhanced collaboration and communication tools, application security integration, greater emphasis on user experience (ux) design, lifecycle analytics and metrics.The rapid adoption of mobile devices is expected to propel the growth of the application lifecycle management market going forward. A mobile device refers to a small, hand-held device that has a display screen with touch input and provides users with telephony capabilities. Application lifecycle management helps in ease of use for mobile applications and also helps in mobile testing and quality management. For instance, according to the Economic Times, an India-based daily newspaper, as of October 2021, there were 1.18 billion mobile connections, 700 million Internet users, and 600 million smartphones in use in India. In addition, India has the greatest monthly data use, at almost 12 GB per person. Therefore, the rapid adoption of mobile devices is driving the application lifecycle management market growth.
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The application lifecycle management market covered in this report is segmented –
1) By Solution: Software, Services
2) By Deployment: On-Premises, Cloud
3) By Organisation Size: Small and Medium-Sized Enterprises (SMEs), Large enterprises
4) By Industry Vertical: Banking, Financial Services, and Insurance (BFSI), Telecom and IT, Media and Entertainment, Retail and eCommerce, Healthcare, Manufacturing, Energy and Utilities, Other Industry Verticals
Major companies operating in the application lifecycle management market are focusing on customized solutions to provide reliable services to customers. Customized solutions encompass tailored processes, tools, and methodologies designed to meet the specific needs and requirements of a particular software development project or organization. For instance, in March 2022, Jamf, a US-based software company, launched App Installers. App Installers provides a streamlined install and update mechanism for apps and helps IT manage and monitor Mac application lifecycles. App installers automatically update the apps to the latest version. App Installers provides customization options such as custom Update Complete messages.
Top Major Players
Atlassian Corporation PLC.,
International Business Machines Corporation,
Microsoft Corporation,
Micro Focus,
CollabNet
The application lifecycle management market report table of contents includes:
1. Executive Summary
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List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Application Lifecycle Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Application Lifecycle Management Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Application Lifecycle Management Market, Segmentation By Organisation Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Atlassian Corporation PLC. Financial Performance
Table 76: International Business Machines Corporation Financial Performance
Table 77: Microsoft Corporation Financial Performance
Table 78: Micro Focus Financial Performance
Table 79: CollabNet Financial Performance
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