Market Size –
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..
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 developmen, 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..
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Scope Of Application Lifecycle Management Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
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.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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 Snterprises
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
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Regional Insights –
North America was the largest region in the application lifecycle management market in 2023. The regions covered in the application lifecycle management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the application lifecycle management market report are Atlassian Corporation PLC., International Business Machines Corporation, Microsoft Corporation, Micro Focus, CollabNet, Digite, Inflectra Co.,Perforce Software Inc., Siemens AG, CA Technologies Inc., Hewlett-Packard Development Company L. P., Rocket Software Inc., Changepoint Corporation, VersionOne Inc.,IBM Corporation,Open Text Corporation,Broadcom Inc,Intland Software,Jama Software,Parasoft Corporation,Polarion Software,SmartBear Software,VersionOne,Kovair Software,PTC Inc.,HCL Technologies Limited,AgileCraft LLC,CloudBees,GitLab Inc.,JetBrains s. r. o.,
Table of Contents
1. Executive Summary
2. Application Lifecycle Management Market Report Structure
3. Application Lifecycle Management Market Trends And Strategies
4. Application Lifecycle Management Market – Macro Economic Scenario
5. Application Lifecycle Management Market Size And Growth
…..
27. Application Lifecycle Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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