Application Lifecycle Management Global Market to Reach $5.94 Billion by 2026
DUBLIN, Sept. 23, 2022 /PRNewswire/ -- The "Application Lifecycle Management Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global application lifecycle management market is expected to grow from $4.00 billion in 2021 to $4.38 billion in 2022 at a compound annual growth rate (CAGR) of 9.4%. The application lifecycle management market is expected to grow to $5.94 billion in 2026 at a CAGR of 7.9%.
North America was the largest region in the application lifecycle management market in 2021. The regions covered in the application lifecycle management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rapid adoption of mobile devices is expected to propel the growth of the application lifecycle management market going forward. A mobile device refers to a small hand-held device that has a display screen with touch input and provides users with telephony capabilities.
Application lifecycle management helps in ease of use for mobile applications and also helps in mobile testing and quality management. For instance, according to the Economic Times, an India-based daily newspaper, as of October 2021, there were 1.18 billion mobile connections, 700 million Internet users, and 600 million smartphones in use in India. In addition, India has the greatest monthly data use, at almost 12 GB per person. Therefore, the rapid adoption of mobile devices is driving the growth of the application lifecycle management market.
New product innovations have emerged as the key trend gaining popularity in the application lifecycle management market. Major companies operating in the maket are introducing new innovative products to sustain their position in the market. For instance, in January 2020, Inflectra, a US-based company that develops application lifecycle management software, launched the latest version of the application lifecycle management SpiraTeam platform, the SpiraTest system. The new version of SpiraPlan v6.3 provides several key enhancements, such as saved views, shareable folders, new document upload controls, and major usability and performance enhancements.
1) By Solution: Software; Services
Key Topics Covered:
1. Executive Summary
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SOURCE Research and Markets