Low-Code Development Platform Market By Component (Platform, Services), By Deployment Mode (On-premise, Cloud), By Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), By Application Type (Web-based Application, Mobile-based Application, Desktop and Server-based Application), By Industry Vertical (BFSI, IT and Telecom, Manufacturing, Healthcare, Retail and E-commerce, Government, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Low-code development platform is a visual approach to software development that enables faster delivery of applications through minimal hand-coding. The graphical user interface and the drag-and-drop features of a low-code platform automates aspects of the development process, eliminating dependencies on traditional computer programming approaches. Low-code platforms democratize app development, particularly for the ‘citizen’ developers, i.e. business users with little formal coding experience, such as business analysts or project managers. These low-code tools enable less technical employees to make a larger business impact in numerous ways, such as relieving IT department backlogs, reducing shadow IT, and taking more ownership over business process management (BPM) workstreams. These benefits are expected to drive the growth of the market in the upcoming years. Since low-code applications require little to no coding experience, it allows for more flexibility in a developer’s coding background. By eliminating this bottleneck, low-code platforms shorten the application development lifecycle, enabling them to accomplish more assignments in less time. Such factors are expected to drive the growth of the market during the forecast period.
Factors such as growing digitalization and social media penetration around the world are positively impacting the growth of the market. In addition, increase in the adoption of low-code development platform across businesses to enhance operation & productivity is expected to boost the growth of the market in the future. Furthermore, increase in investments in various sectors such as BFSI, healthcare, and others is expected to provide lucrative growth opportunities for the market during the forecast period. Moreover, low-code development platform helps to reduce costs over the entire development lifecycle, further creating numerous opportunities for the market growth in the upcoming years. However, concerns over low-code development platform’s security and compliance are growing, especially for apps that use consumer data, this factor is predicted to hamper the growth of the market.
The low-code development platform market is segmented into component, deployment mode, application type, organization size, industry vertical, and region. By component, it is bifurcated into platform and services. By deployment mode, it is divided into on-premise and cloud. Based on application type, it is divided into web-based, mobile-based, and desktop & server-based. By organizational size, the market is segregated into small & medium-sized enterprises and large enterprises. By industry vertical, the market is classified into BFSI, IT and telecom, manufacturing, healthcare, retail and e-commerce, government, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the low-code development platform market are AgilePoint Inc., Appian Corporation, Mendix Technology BV, Microsoft Corporation, Oracle Corporation, OutSystems, Inc., Pegasystems Inc., Salesforce.com Inc., ServiceNow, Inc., and Zoho Corporation Pvt. Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the low-code development platform market globally.
KEY BENEFITS FOR STAKEHOLDERSThe study provides an in-depth analysis of the global low-code development platform market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on global low-code development platform market trends is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the global low-code development platform market from 2021 to 2031 is provided to determine the market potential.
Key Market SegmentsBy Deployment ModeCloud
On-premise
By Enterprise SizeLarge Enterprises
Small and Medium-sized Enterprises
By Application TypeWeb-based Application
Mobile-based Application
Desktop and Server-based Application
By Industry VerticalBFSI
IT and Telecom
Manufacturing
Healthcare
Retail and E-commerce
Government
Others
By ComponentPlatform
Services
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Microsoft Corporation
Pegasystems Inc.
ServiceNow, Inc.
OutSystems, Inc.
Salesforce.com Inc.
Mendix Technology BV
Appian Corporation
AgilePoint Inc.
Oracle Corporation
Zoho Corporation Pvt. Ltd.
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