@dineshm97,

The App studio comes as part of the Pega application and the pega App factory has to be added as external component in your application after the installing.

The App studio enables you to develop your application without touching any piece of code. 

Pega App Factory is a lightweight framework which runs on the Pega Platform which enables repeatable low-code development success in App Studio. this course will run through the tools & best practices App Factory provides for scaled application governance, collaboration, DevOps, and reuse.

Pega App Factory brings business and IT together in support of the company-wide deployment of low code. With this comprehensive program management toolkit, business and IT leaders have the visibility they need to ensure every app is built with the quality and consistency of a fine-tuned assembly line.

You shall choose App factory if you are in need of governance of multiple applications, browse existing applications and in need of a pipeline for deployments. It also acts as collaborative space for app makers. All app users and makers can access apps and associated tasks from one central dashboard.