Application Lifecycle Management Market Forecast by 2023

Application lifecycle management makes a delivery of development, governance, and maintenance for application software. The major parts of application lifecycle management are build, design, requirements management, testing; and change, project, integration, and release management. The modern software development process is quite a complicated one. The traditional and conventional software development lifecycle (SDLC) has been applicable only to the process of development, whilst application lifecycle management works for the entire application lifecycle, from planning to deployment.

The players that are operating within the international market for application lifecycle management are developing a number of solutions for their customers in a bid to gain a competitive edge amongst other peers, as Transparency Market Research (TMR) states in its new study. Key application lifecycle management vendors that are operating in this market comprise eminent names such as Polarion Software GmbH, VersionOne, Inc., Atlassian Corporation Plc, Inflectra Corporation, HP Development Company, CollabNet, Inc., Parasoft Corporation, IBM Corporation, Microsoft Corporation, L.P., and Micro Focus International plc.

The international market for application lifecycle management generated revenues of around US$ 2.04 Bn in the year 2014 and is projected to expand at a growth rate of 8.9% CAGR over the period of forecast that extends from the year 2015 to the year 2023 so as to reach around US$ 4.39 Bn by the end of forecast period.

North America and Europe to Lead the Market Over the Period of Forecast   

The world market for application lifecycle management has been regionally segmented into the geographies of South America, North America, Asia Pacific, Middle East and Africa, and Europe. Out of all of these regions, North America and Europe are the major geographies that have been estimated to drive the growth of the world market for application lifecycle management market, states a TMR analyst.

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Aging of the Systems Development Life Cycle Infrastructure to Trigger Market Growth

The fast uptake of various types of mobile devices and the growth in the number of browsers/platforms across the globe has generated the need of a creation of a large number of mobile applications that need an efficient application development lifecycle. The increasing number of mobile devices would also lead to multiplatform complexity, which in turn increases the demand for application lifecycle management solutions. The need for greater efficiency across various teams and augmented engineering productivity are also factors that have been driving the market for application lifecycle management across the globe.

Various challenges such as dearth of visibility in requirement management, lack of traceability between requirements and other artifacts through the software development lifecycle, and poor communication swell the growth of the application lifecycle management market. With application of lifecycle management in development, engineering, software, and quality assurance teams are more productive and make a delivery of quick output thereby augmenting the efficiency across the software development teams as well as accurate allocation of human and technology resources. The aging of the systems development life cycle (SDLC) infrastructure is also estimated to drive the market for application lifecycle management worldwide across various sectors.