What is Application Lifecycle Management (ALM) Tools Market?
Application Lifecycle Management (ALM) Tools is the specification, design, development and testing of a software application. It covers the entire lifecycle from the idea conception, through to the development, testing, deployment, support and ultimately retirement of systems. These tools enables to covers the entire history of an application, utility, component or software solution, from the initial idea to its removal from an organization’s systems. ALM tools are used in administrating a software application from its early phase until it is no longer used (retired). Its main aim is to document and track the changes made to an application throughout its journey. The use of ALM tools in organizations in project management, requirements management, development, testing, quality assurance (QA), and customer support has increased the growth of global ALM tools market.
Highlights from Application Lifecycle Management (ALM) Tools Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Rommana ALM (United States), Jama Software (United States), SpiraTeam (United States), Atlassian Corporation Plc (Australia), CollabNet VersionOne (United States), Microsoft Corporation (United States), IBM Corporation (United States), Techexcel Software Solution Pvt. Ltd. (India), Hewlett-Packard Company (United States), Rocket Software (United States), Enalean (France), Micro Focus International plc (United Kingdom), CA Technologies (United States), ThoughtWorks (United States) and Seapine Software (United States) |
Application Lifecycle Management (ALM) Tools market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States and European Countries Players will contribute to the maximum growth of Global Application Lifecycle Management (ALM) Tools market throughout the forecasted period.
Rommana ALM (United States), Jama Software (United States), SpiraTeam (United States), Atlassian Corporation Plc (Australia), CollabNet VersionOne (United States), Microsoft Corporation (United States), IBM Corporation (United States), Techexcel Software Solution Pvt. Ltd. (India), Hewlett-Packard Company (United States), Rocket Software (United States), Enalean (France), Micro Focus International plc (United Kingdom), CA Technologies (United States), ThoughtWorks (United States) and Seapine Software (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Rocket Software (United States), Siemens AG (Germany), Aligned AG (Switzerland), VisionFlow AB (Sweden) and Visure Solutions (United States). Application Lifecycle Management (ALM) Tools Market Segmentation:
Scope | Sub-Segments |
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Application / End User | IT and Telecom, Automotive and Transportation, Aerospace and Defense, BFSI, Energy and Utilities, Retail, Healthcare and Other |
Type | Single Function and Multiple Functions |
Organization Size | Large Enterprises,Small and Medium-Sized Enterprises (SMEs) |
Platform | Web-Based,Mobile |
Deployment | On-premises,Cloud |
Solution | Software,Services {Professional Services, Managed Services} |
On the basis of geography, the market of Application Lifecycle Management (ALM) Tools has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Trend for Cloud-based ALM Tools
Market Growth Drivers:
Need for Management of Business Assets, Improve Decision-Making During Application Development and Aging of the Systems Development Life Cycle (SDLC) Infrastructure
Challenges:
Integration of ALM Tools
Restraints:
High Costs of ALM Tools
Opportunities:
Use of Application Lifecycle Management (ALM) Tools in Quality Assurance (QA), Investments in R&D to Improve Products Performance and Growing Demand for ALM Tools in Retail Industry
Key Target Audience
Application Lifecycle Management (ALM) Tools Designer, Application Lifecycle Management (ALM) ToolsProvider, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others
Market Leaders & Development Strategies
In November 2016, Perforce Software, a version-control and source-code-management provider adding a new set of ALM solutions to its portfolio. The company completed the acquisition of Seapine Software, a provider of application lifecycle management tools.
In February 2019, LDRA, a software quality company partnered with Siemens PLM Software to enhance traceability and validation for customers developing critical embedded systems leveraging Polarion ALM software.