Published on : Jun 06, 2016
The global application lifecycle management (ALM) market has been experiencing a significant rise in its valuation. The rapid growth of the corporate sector has resulted in the increased demand for ALM solutions across the world. The benefits, these solutions offer, such as dedicated assistance to software developers in all stages of their project to manage their project status has propelled the adoption of ALM solutions in a number of enterprises functional in various industries such and retail, automotive, medical and healthcare, transportation, and IT and telecom.
IT and Telecom Industry Emerges Leading End User of ALM Solutions
The retail, defense and aerospace, automotive and transportation, energy and utilities, BFSI, medical and healthcare, and IT and telecom industries are the prime end users of ALM solutions in the global arena. The IT and telecom industry surfaced as the biggest consumer of ALM solutions in 2014. The increase in technological challenges, the management in enterprises operating in the IT and telecom industry has to face, is leading to an immense rise in the adoption of these solutions. Analysts expect this segment to maintain its position as the leading end user of ALM solution in the coming years.
Asia Pacific to Surpass North America and Europe in Future
In 2014, North America and Europe emerged as the leading regional market for application lifecycle management solutions. However, Asia Pacific is likely to surpass both the markets over the next few years, owing to the increasing adoption of the ALM technology in this region. On the other hand, the market for application lifecycle management in the Rest of the World is expected to register a moderate expansion in the near future.
Parasoft Corp., CollabNet Inc., VersionOne Inc., IBM Corp., Inflectra Corp., Micro Focus International Plc, HP Development Co., Atlassian Corp. Plc, Microsoft Corp., and Polarion Software GmbH are some of the leading players in the global ALM market.