Application Lifecycle Management Market Growth Drivers and Challenges:
Growth Drivers
- Rising Cyberattack on Application
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.
- Growing Use of ALM in the Healthcare Sector
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.
- Surge in Need for Application Lifecycle Management by IoT Manufacturers
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
- Lack of Adoption of New Method - The main obstacle to organizations’ use of ALM solutions is the breaking down of cultural barriers. The acceptance rate of new ALM tools is being slowed by the continued use of old techniques by organizations worldwide. The development of new ones is hampered by organizations' continued use of legacy methods, which continue to result in greater output overall. The substantial cost of creating the entire infrastructure is the main obstacle organizations confront when attempting to switch from legacy methods to new ones. The adoption of new technologies is being hampered by organizations’ trade-offs between additional investment, cost, complexity, and ROI versus maintaining the existing system.
- Difficulty in Integrating ALM Tool
- High Cost of Tools
Application Lifecycle Management Market Size and Forecast:
|
Base Year |
2025 |
|
Forecast Period |
2026-2035 |
|
CAGR |
9.4% |
|
Base Year Market Size (2025) |
USD 5.64 billion |
|
Forecast Year Market Size (2035) |
USD 13.85 billion |
|
Regional Scope |
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