Business innovation now drives the application lifecycle management (ALM) market, estimated by some industry analysts to be at $1.4 billion in 2009 and growing at eight percent annually. PTC (Nasdaq:PMTC) today announced it has been named a leader in application lifecycle management software according to a new report from Forrester Research, Inc., The Forrester Wave™: Application Life-Cycle Management, Q4 2012. Forrester examined the capabilities and strategies of nine key vendors in the ALM space and determined that PTC continues its leadership position by addressing regulated and digital products needs and provides strength where product-based development and compliance intersect. Forrester Research Application Life-Cycle Management Wave evaluation criteria includes the ability to deliver business value, not just drive process efficiency. “PTC’s focus on compliance, including the highly regulated world of embedded software, has made it the only ALM vendor to provide out-of-the-box many of the workflows and reports needed to satisfy regulatory authorities,” said the report. According to the report, “the contribution that application development and delivery makes to a company’s business goals — making workers more productive, creating engaging customer experiences, and bringing new software products to market more successfully — must be more direct and successful. Software increasingly plays a central role in a firm’s ability to deliver new products and services.” The report also states that “PTC provides strength where product-based development and compliance intersect,” and that PTC has done “much to support teams of embedded software developers and systems engineers.” In addition, PTC helps firms “address ‘digital product’ development needs — for products such as appliances, vehicles and medical devices that have software components — while still maintaining support for teams building and delivering software-only products and projects.” Finally, “PTC’s strength rests on its long-standing support for addressing governance and compliance challenges.” PTC ALM solutions are a good choice for organizations that build and deliver software as a critical part of their product development while needing collaboration and integration between software engineering teams and the other engineering groups within the organization. Directly, ALM offers significant value to a company, but ALM also enhances other enterprise systems, such as product lifecycle management (PLM) to enable users to improve time to market, reduce product costs, manage quality initiatives and drive global product development. For more information, reference The Forrester Wave™: Application Life-Cycle Management, Q4 2012. PTC ALM solutions are optimized for discrete manufacturers where coordination and collaboration between software and hardware teams is critical to understand product release readiness, support variant complexity, automate development processes, ensure complete lifecycle traceability and manage change.