A recent business and commerce study by Transparency Market Research (TMR) has detected that the global application development and deployment software market is neither consolidated nor fragmented, owing to the presence of several players while a few of them holding dominant positions. The TMR report identifies IBM, Salesforce.com, Inc., Microsoft Corp., Oracle Corp., SAP SE, Hewlett Packard Enterprise Company, Alphabet Inc., ServiceNow, Inc., CA Technology Inc., and Compuware Corp. as some of the key players who are currently ahead of the curve in the competitive landscape of the global application development and deployment software market.
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Application Development & Deployment Software Market Projected for CAGR 25.6%
As per the estimations of the report, the demand in the application development and deployment software market, across the globe, will increment at a phenomenal CAGR of 25.6% during the forecast period of 2017 to 2023. The report has projected the revenue in this market to reach US$346,434.0 mn by the end of the forecast period, exponentially up from its evaluated worth of US$110,650.7 mn at the start of the forecast period, which is 2017. In the near future, most of the key players are expected to develop customized applications as per the requirements of the clients and gain ground over the intense competition.
Based on type, the global application development and deployment software market gains maximum demand for structured data management software, which accounted for 37.7% of the overall demand in 2017 and is expected to push-up to 47.4% of the total demand by 2023. By the end of the forecast period, structured data management software segment of the application development and deployment software market is projected to produce a demand worth of US$164.196.1 mn. The other type segments of this market are: application development software, application server middleware, data access, analysis and delivery, integration and process automation middleware, and quality and life cycle tools. Geographically, the TMR report picks out North America as most lucrative region. By 2023, the North America application development and deployment software market is estimated to reach a valuation of US$96,213.1 mn. The region is exhibiting a compound annual growth rate (CAGR) of 24.9% during the said forecast period.
Compatibility to Any Business Environment and Improve Efficiency Driving Demand
The multi-billion software market has been flourishing for past couple of decades and application development and deployment software market is feeding off it. These software are model-driven and translate various domain specific models into workable business application. The application development and deployment software has the ability to radically reduce, if not completely eliminate, the need for computer code. Providing a solution with which focus can be entirely on business requirements rather than the technical details, the market for application development and deployment software can also adapt to changing market dynamics, and hence is gaining uptake.
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Application development and deployment software provides the architecture and tools to rapidly test, customize, deploy, and manage business applications in virtually any existing environment. Domain specific models such as security, work-flow, data design, processes, and integration can all be integrated into a single application model, which can be executed in real time. As the awareness regarding the apparent benefits spreads, the demand in the global application development and deployment software market is expected to escalate. Application development and deployment software is turning into a boon for various verticals including IT and telecommunications, banking, financial services, and insurance (BFSI), transportation and logistics, energy and utilities, manufacturing, and retail and consumer goods.
Cost of the Software Obstructing Market’s Prosperity
While the market for application development and deployment software is doing pretty well in the developed countries, various business enterprises in emerging economies are either unaware of these new tools or are resisting adoptability owing to cost factors. However, these two factors are now expected to pose too many hindrances to the prosperity of the market.