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The rapid uptake of mobile devices and the growth in the number of
browsers/platforms globally has generated the creation of a large
number of mobile applications that require an efficient application
development lifecycle. The growing number of mobile devices would
also lead to multiplatform complexity, which in turn increases the
demand for ALM solutions. The need for greater efficiency across
teams and increased engineering productivity are also factors that
drive the market for ALM globally. Challenges such as lack of
visibility in requirement management, poor communication, and lack of
traceability between requirements and other artifacts through the
software development lifecycle swell the growth of the ALM market.
With ALM software, engineering, development, and quality assurance
teams are more productive and deliver quick output, increasing 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 also drives the
market for ALM worldwide across various sectors, as SDLC has a rigid
design and inflexible procedures for partitioning the project into
stages, which creates difficulties in estimating the time and budget
for each stage of the project.
The global ALM market generated revenues of US$ 2.04 Bn in 2014 and
is projected to expand at a CAGR of 8.9% during the forecast period
(2015 – 2023) to reach US$ 4.39 Bn by 2023.
On the basis of components, the ALM market is categorized into
software and services. The software segment consists of on-premise
and cloud-based deployment types, which are further segmented into
agile-centric ALM and process-centric ALM solutions for each type.
The growing need for agility, scalability, and flexibility among
business organizations in order to instantly respond to fluctuating
customer requirements or emerging business needs is driving the
growth of agile centric ALM in the global ALM market
On the basis of end-users, the ALM market is segmented into
automotive and transportation, aerospace and defense, BFSI, energy
and utilities, retail, healthcare, IT and telecom, and others
segments. Rapid industrialization and technological advancements have
increased the demand for ALMs in the IT and telecom and automotive
and transportation sectors. Furthermore, the growing prevalence of
health issues has led to emergence of various advanced technologies
in healthcare sector, further leading to a significant pace of growth
for the healthcare segment of the ALM market.
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