Application Lifecycle Management Market size is expected to cross USD 9 billion by the end of 2035, growing at a CAGR of approximately 7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of application lifestyle management was USD 4 billion. The growth of the market is set to be dominated by growth in the launch of the number of mobile applications. Approximately 89,000 mobile apps were made available through the Google Play Store in June 2023, worldwide. In order to make these applications work efficiently the adoption of application lifecycle management is growing.
Moreover, of these applications large amount belongs to businesses. Various business launches their own application in order to provide guidance to customers or employees. Earlier, organizations that created applications hardly focused on maintaining them. However, owing to the growing online presence of the clients or customers it has become necessary for organizations to make their application work efficiently. Therefore, these organizations are extensively adopting application lifecycle management.
Growth Drivers
Currently, there are about 83% of apps that is incapable of detecting if the dangerous code has been injected into the source code further making it prone to cyberattack. Hence, the organization is expected to adopt application lifecycle management. By determining which apps need updating or removing, seeking a replacement, and preparing the subsequent processes for upgrade or migration, ALM enables key stakeholders and IT teams to anticipate and avoid security problems.
Updates or customized applications are frequently used by businesses in the healthcare sector. Therefore, in order to accomplish the capacity and effectiveness of frequent deployments, organizations require an effective strategy to manage development projects from the initial stages. Hence, the need for ALM in healthcare is growing.
Some IT managers who made investments in PLM systems have attempted to manage software using PLM. However, they were limited to managing workflows, versions, drawings, and specifications that were tied to specific products since a PLM system had some rigid limitations. PLM is incapable of managing the complexity of the process of software development. Hence, the integration of application lifecycle management (ALM) along with PLM is on the rise.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~ USD 4 Billion |
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Forecast Year Market Size (2035) |
~ USD 9 Billion |
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Regional Scope |
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Enterprise Size (Small & Medium Enterprise, Large Enterprise)
The small & medium enterprise segment in the application lifecycle management market is estimated to gather about USD 4 Billion by the end of 2035. This could be owing to rising small & medium enterprises. Approximately 399 million small & medium enterprise businesses are present all around the world currently. By offering assistance with the most effective possible resource utilization, the ALM solution has led to cost reduction and increased efficiency. Hence, since small and medium enterprise has limited resources, they find this solution very effective. Furthermore, the development of cloud-based solutions has influenced small and medium-sized businesses to choose ALM solutions more frequently. Additionally, these solutions are simple to use and offer greater scalability, increased reliability, and higher agility. Therefore, these and other factors have encouraged SMEs to invest heavily in the market for ALM systems.
End-User (Automotive & Transportation, Manufacturing, Aerospace & Defense, BFSI, Energy & Utilities, Retail & E-Commerce, Healthcare, IT & Telecom)
The IT & telecom segment is set to hold 40% share of the global application lifecycle management market during the forecast period. The reasons driving the expansion of the telecom and IT sectors in the ALM market are increasing demand for better telecom services, improvements in the IT sector, an increase in consumers of mobile phones, and the accessibility to high-speed internet connections. ALM software has been adopted to lessen working complexity in addition to expanding technological and management obstacles and changes in the software sector with varied standards in various nations.
Our in-depth analysis of the global market includes the following segments:
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Component |
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Enterprise Size |
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End-User |
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North American Market Forecast
The application lifecycle management market in North America is poised to generate revenue of approximately USD 5 Billion by the end of 2035. The region possesses a robust technological infrastructure and a high spending capacity, enabling it to create and purchase new technologies for cheap. The presence of numerous businesses with cutting-edge IT infrastructure and the right kind of technical support is fueling the expansion of the market in the area. Furthermore, the inclusion of internet of things (IoT) in ALM solutions could open up enormous potential possibilities for developed nations such North America.
APAC Market Analysis
The application lifecycle management market in Asia Pacific is projected to have the significant growth over the forecast period. The major factor driving the market expansion in this region is rising government initiatives to promote industry digitalization in this region. Additionally, the presence of various key players in this region is also estimated to drive the market demand in this region.
Author Credits: Harshita Srivastava, Saima Khursheed
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