Information Communication and Technology Reports Application Lifecycle Management Market

Application Lifecycle Management Market worth $4.5 billion by 2024
The Application Lifecycle Management (ALM) market size is expected to grow from USD 3.1 billion in 2019 to USD
4.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period. This high
growth is due to the increasing adoption of ALM tools to shorten the release time and time-to-market. The
adoption of new methodologies, such as Agile and DevOps, has an impact on customer experience.
The major players in the ALM market include Atlassian(Australia), IBM(US), Microsoft(US), Micro Focus(UK),
CollabNet(US), Broadcom(US), Digite(US), Inflectra(US), Intland(Germany), Perforce(US), and Siemens(Germany).
These players have adopted various growth strategies, including new product launches, partnerships, agreements,
mergers and acquisitions, and business expansions. Product launches and acquisitions were the 2 major strategies
adopted by these players to achieve a strong foothold in the ALM market.
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North America has always been an innovative and competitive ground for every technology. The region remains
one of the fastest in the adoption of innovative technologies. Currently, the US holds the highest share in the ALM
market, due to various factors, such as the presence of several enterprises with advanced IT infrastructure and the
availability of technical expertise. Furthermore, the growth of the market in the US can be attributed to several
initiatives taken by the government of the country to carry out industrial digitalization, as well as rapid
technological innovations and increased use of connected devices taking place in the US. Presence of leading
companies such as Microsoft, Broadcom, and IBM has fueled innovations in the ALM market, whereas startup
companies, including Perforce, CollabNet, Inflectra, and Digité, have contributed to the growth of the market to a
large extent. North America in the coming years is projected to continue its lead in the ALM market.
IBM is one of the prominent players in the ALM market. It has an ALM product portfolio with a wide range of
functionalities for requirements, quality assurance, software configuration, software change, and development
and distribution domains.
The company’s major operations consist of 5 business segments, namely, cognitive solutions, global business
services, technology services and cloud platforms, systems, and global financing. Furthermore, the company
specializes in cloud, mobile, cognitive, security, research, Watson analytics, consulting, commerce, experience
design, Internet of Things (IoT), technology support, industry solutions, systems services, IT infrastructure,
resiliency services, and financing. Moreover, it has plans to invest in new businesses, products, services and
technologies, systems, facilities, infrastructures, and acquisitions. For instance, in 2017, IBM deployed Agile
lifecycle manager version 1.2, which provides design, test, and automated deployment platform to address
technical challenges anchored to Network Functions Virtualization (NFV).
Microsoft is another innovative company in the ALM market. The company develops and supports software,
services, devices, and solutions, which deliver value to customers, and assist people and businesses in knowing
their potential. It offers a large product portfolio, which includes operating systems, cross-device productivity
applications, server applications, business solution applications, desktop and server management tools, software
development tools, and video games. Microsoft offers Team Foundation Server (TFS), which is now known as
Azure DevOps Server, an ALM solution, with a wide range of functionalities. This solution can help track work
visually; stakeholders have a clear insight into the development team’s capacity and can better plan and prioritize
tasks and avoid fire drills.