An application life cycle management is considered to be a key to innovation of the dynamic and modern software delivery. Application lifecycle management system (ALM), in a layman’s language can be explained as the process that governs and manages all the different phases of software development. The development of software comprises various stages. The application life cycle management is created in order to keep software updated and bugs-free. An ALM offers businesses with flexibility and agility as it increases the efficiency of the business by creating and imposing standards throughout the related project stages. Moreover, it also enables the companies to perform better in terms of allocation of technological and human resources. Some of the industries utilizing ALM services include healthcare, automotive and banking financial services and insurance (BFSI) among others.
The rapidly surging market of mobile devices and rise in numerous browsing platforms, globally has led to the development of myriad mobile applications which has further fuelled the rise in demand for efficient application development lifecycle. Furthermore, the demand for greater efficiency throughout the team and mushrooming engineering productivity are also one of the aspects fuelling the growth of ALM market, globally. However, lack of visibility in demand management, deprived communication, and void in traceability amid requirements and other artifacts across the entire process of software development can adversely affect the growth of ALM market, globally. Nevertheless, along with application lifecycle management software, development and engineering and quality assurance, the developer teams are more productive and have become capable of delivering rapid output, subsequently increasing the efficacy across the team and also accurate allocation of technology and workforce. The maturing of SDLC (system development lifecycle) infrastructure also pushes the ALM market worldwide among different business sectors, as SDLC comprises of a strict and stringent design and inflexible procedures to position the project into stages that evolves difficulties in determining the budget and time for every stage of the project.
The ALM market is broadly segmented into components and end-user industry. The hierarchy of component segment follows software and services, where software segment is further divided into on-premise and cloud based deployment. This is further fragmented into process centric ALM and agile-centric ALM for each kind. Here, the agile-centric is anticipated to boost in the coming years, owing to rising need for scalability, agility and flexibility among business firms in order to improve the responsiveness towards the customer demands. The end-user industry is segmented into aerospace & defence, retail, healthcare, automotive & transport, BFSI and IT & telecom among others. The IT & telecom along with automotive & transport segment are projected to grow rapidly owing to the dramatic industrialization and innovation in technologies. Moreover, prevailing health issues have led to the advent of myriad advanced technologies in healthcare industry, subsequently leading to the significant growth of healthcare applications of application lifecycle management.
Globally, the market is bifurcated into, North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Europe and North America are the major influencers and dominating regions in the global market. Some of the key vendors in application lifecycle management market are IBM Corporation, Micro Focus International plc, Inflectra Corporation, Atlassian Corporation Plc, HP Development Company, Polarion Software GmbH, CollabNet, Inc., Parasoft Corporation, L.P., VersionOne, Inc. and Microsoft Corporation among others.