Global Application Lifecycle Management (ALM) Software Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The application lifecycle management (ALM) software market is anticipated to grow at a significant CAGR of 6.9% during the forecast period (2022-2028). ALM is the process of overseeing a software application from conception to termination. In general, it covers application software development, specification allocation, testing, and design. Requirement management, project design, integration, and application release management are the main components of ALM. As the software development lifecycle only pertains to the development process, ALM software helps organizations achieve their business goals by allowing software development teams to track their projects from requirements to delivery. Compliance, faster release, and high-quality output are all advantages of ALM. The market is being driven by an increase in the engineering productivity, and the requirement for improved application efficiency in industries. In addition, the market is growing due to an increase in the requirement for better decision-making during application development, as well as a movement in development methods from waterfall to agile.

The global ALM software market is segmented based on type and sales channel. Based on type, the market is sub-segmented into the mobile-based application and web-based applications. Among these types, the mobile-based application segment is expected to propel the growth of the market due to the increasing mobile penetration globally. Based on the application, the market is sub-segmented into BFSI, retail & e-commerce, manufacturing, government & defense, energy & utilities, IT& telecom, education, healthcare, and others.

The market players are also contributing significantly to the market’s growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market.  For instance, in February 2022, Cybellum announced a technological partnership with Siemens Digital Industries, to integrate its product and device security platform with Polarion ALM solution.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- IBM Corp., Microsoft Corp., CA Technologies Inc., Hewlett-Packard Development Co. LP, Electric Cloud Inc., Atlassian Corp., and Rocket Software Inc.,among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global ALM Software Market Report by Segment

By Type

• Mobile Based Application
• Web-Based Application

By Application

• BFSI
• Retail & E-commerce
• Manufacturing
• Government & Defense
• Energy & Utilities
• IT & Telecom
• Education
• Healthcare
• Others