New York, Aug. 05, 2019 (GLOBE NEWSWIRE) -- The growth of the market is governed by various factors such as growing demand for consumer electronics and increasing demand for cloud-based software

The Application Lifecycle Management (ALM) Market is expected to reach USD 5.00 Billion by 2026, according to a new report by Reports and Data. Application lifecycle management (ALM) is an IT Governance system to manage the deployment, implementation, and support of software applications. ALM incorporates all aspects of the application phases, including integration, solution design, configuration management, requirements definition, customizations, maintenance, testing, project management, change management, and release management. As businesses continue methods globally, enabled by ERP applications, the management of IT Controls across multiple sites is complex and resource-intensive for large enterprises.

Due to the presence of advanced economies, like the United States (US) and Canada, North America is estimated to hold the largest share of 31.3% in 2018. North America is the most developed region in the market, as almost all large enterprises are located in this region. Due to the growing demand for digital appearance of business, the key players are investing profoundly in developing user-friendly and cost-efficient application lifecycle management platforms. With the implementation of technologies like Artificial Intelligence, Machine Learning, and IoT, manufacturers can leverage the maximum benefits of the global application lifecycle management (ALM) market during the forecast period.     

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Further key findings from the report suggest

  • The Application Lifecycle Management (ALM) Market is estimated to reach USD 5.00 Billion by 2026, at a CAGR of 6.6% during the forecast period.
  • The cloud deployment segment is anticipated to grow at a higher rate of 6.9% during the forecast period.
  • Cloud-based ALM is one of the latest technology trends that is attaining traction to direct the increasing business need for agility.
  • Cloud-based ALM allows enterprises to increase productivity improvement through registered software upgrades with no application downtime and costly diversion of resources.
  • The Services segment accounts for a higher rate of 6.6% during the forecast period.
  • The Healthcare end user is anticipated to grow at the highest rate of 6.9% during the forecast period.
  • APAC is forecasted to be the fastest growing market with the highest rate of 7.0% during the forecast period.
  • The drivers for the growth of this region are the presence of key players, favorable reimbursement policies, and rising use of technology in countries like India, China and Japan, along with several initiatives taken by the government.
  • Various players are developing strategies to mark their presence in the industry.
  • R&D initiatives by companies to improve healthy products that have a broad application base are anticipated to create tremendous growth possibilities for industry participants.
  • Intland adoption the codeBeamer ALM software tool by BMW in July 2018 that provides Intland with a go-to standard device for automotive Original Equipment Manufacturers (OEMs) and suppliers globally.
  • Rommana ALM, one of the latest ALM tools, are a thoroughly combined set of tools and methods that promotes all aspects of an application and product lifecycle.
  • Independent research organizations awarded Rommana ALM several awards.
  • The Key players in the Application Lifecycle Management (ALM) Market include IBM, Siemens, Micro Focus, Broadcom, Microsoft, Atlassian, Techexcel Perforce, CollabNet, Intland, Inflectra, Digite, Rocket Software, Dynatrace, Jama Software, and Kovair Software.

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Segments covered in the report:

For the purpose of this study, Reports and Data have segmented the market on the basis of Deployment, Solution, Organization size, End User, Platform and region:                    

Deployment Outlook (Revenue, USD Million; 2018-2026)

  • On-premises
  • Cloud

Solution Outlook (Revenue, USD Million; 2018-2026)

  • Software
  • Services

Organization size Outlook (Revenue, USD Million; 2018-2026)

  • Large Enterprises
  • SMEs

End User Outlook (Revenue, USD Million; 2018-2026)

  • IT and Telecom
  • Healthcare
  • BFSI
  • Automotive and Transportation
  • Others

Platform Outlook (Revenue, USD Million; 2018-2026)

  • Web-Based Applications
  • Mobile-Based Applications

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Regional Outlook (Revenue, USD Billion; 2016-2026)

  • North America
    • U.S.
  • Europe
    • France
    • UK
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • Middle East and Africa

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