Global Rapid Application Development Market 2023-2027
Technavio has been monitoring the rapid application development market and is forecast to grow by $129.02 bn during 2022-2027, accelerating at a CAGR of 39.7% during the forecast period. Our report on the rapid application development market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing adoption of cloud-based services, enterprise mobility to drive the adoption of smartphones in businesses, and elimination of gaps in required IT skills.
Technavio's rapid application development market is segmented as below:
By Capacity
- Large enterprises
- Small and medium enterprises
By Deployment
By Geography
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies technological advances in application development as one of the prime reasons driving the rapid application development market growth during the next few years. Also, rise in customer awareness about finance and digitization and emergence of low-code development platform (LCDP) will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the rapid application development market covers the following areas:
- Rapid application development market sizing
- Rapid application development market forecast
- Rapid application development market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading rapid application development market vendors that include Amazon.com Inc., AmpleLogic, Appian Corp., International Business Machines Corp., Idera Inc., Kissflow Inc., Mendix Technology BV, Microsoft Corp., Ninox Software GmbH, Oracle Corp., Oro Inc., OutSystems Software em Rede SA, Pegasystems Inc., Quickbase Inc., Radzen Ltd., Salesforce.com Inc., ServiceNow Inc., Temenos Headquarters SA, WPP Plc, and Zoho Corp. Pvt. Ltd. Also, the rapid application development market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.