The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Current Market Trends

• The application lifecycle management (ALM) market has demonstrated robust growth in recent years.
• Surging from $4.5 billion in 2023 to $4.78 billion in 2024, the market maintains a CAGR of 6.1%.
• Factors driving this growth include regulatory compliance, quality assurance, application portfolio management, and the rise of low-code/no-code development platforms.

Anticipated Growth: Looking into the Future

• Forecasts project significant expansion, with the market expected to reach $6.63 billion by 2028, boasting a CAGR of 8.5%.
• Drivers of this growth include microservices, digital transformation initiatives, comprehensive test automation, and the shift to remote and distributed development.
• Cloud-based ALM solutions, enhanced collaboration tools, and greater emphasis on user experience design are key trends in the forecast period.

Mobile Device Adoption Fuels Market Growth

• The rapid adoption of mobile devices is a key driver propelling the ALM market forward.
• India, for instance, showcases a significant surge in mobile connections, internet users, and smartphone adoption.
• ALM facilitates ease of use for mobile applications, testing, and quality management, aligning with the demands of the mobile-centric world.

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Integration of AI and Machine Learning

• Major players in the ALM market are integrating AI and machine learning to enhance service reliability.
• AI-driven insights and automation streamline software development and maintenance processes.
• Innovations like TechExcel Inc.’s ProjectOne (P1) leverage machine learning to provide real-time insights and automate project tasks.

Strategic Acquisitions Fuel Expansion

• PTC’s acquisition of Intland in April 2022 for $280 million expands its ALM portfolio and cloud-ready solutions.
• Intland’s expertise in ALM software tools enhances PTC’s offerings and strengthens its position in the market.
• This strategic move reflects the industry’s focus on expanding capabilities and meeting evolving customer needs.

Market Segmentation and Regional Dynamics

• The ALM market is segmented by solution, deployment, organization size, and industry vertical.
• Solutions encompass software and services, while deployment options include on-premises and cloud.
• North America led the ALM market in 2023, with significant growth expected across various industry verticals.

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The Application Lifecycle Management Global Market Report 2024  provides an overview of the application lifecycle management market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The application lifecycle management market forecast analyzes application lifecycle management market size, application lifecycle management market share, leading competitor and their market positions.

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