Low-code Development Platform Market Analysis,
Size, Growth, Share, Trend, Forecast 2022 – 2030
Low-Code Development Platform Market Growth & Trends
The global low-code development platform market size is expected to reach USD 35.2 billion by 2030, registering a CAGR of 22.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growth can be majorly attributed to the growing interest of organizations, especially amid the COVID-19 pandemic, toward the digital transformation of their business processes. The growing demand for solutions that can expedite the application development and automation of business processes has created wider scope for the adoption of low-code development platforms, thereby favoring the market expansion.
The market growth is being further driven by the continuous technological developments introduced by the industry players. For instance, in September 2021, Mendix Technology BV introduced artificial intelligence and other advanced features to its low-code development platform to allow companies to develop software more efficiently. The company has named the AI feature Page Bot which provides recommendations to the software teams about how to design a new application’s user interface.
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Low-Code Development Platform Market Report Highlights
Web-based application segment is expected to witness a CAGR of over 22.0% from 2022 to 2030 owing to increasing demand for low-code development platforms as they help in developing applications using the similar resources as the traditional development process
The SMEs segment is expected to witness a significant growth rate of nearly 24.0% from 2022 to 2030 with the growing need to develop software applications with minimum operational cost and workforce
The IT and Telecom segment accounted for a revenue share of close to 21.0% in 2021 with the increasing need among these sectors to automate their operations and expedite the application development process
In North America, the market was valued at nearly USD 1.7 billion in 2021 owing to the strong presence of various major market players in the region and the introduction of innovative low-code development platform offerings by these players
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Low-Code Development Platform Market Segmentation
GrandViewResearchhassegmentedthegloballow-codedevelopmentplatformmarket basedonapplicationtype,deploymenttype,organizationsize,end-use,andregion:
Low-code Development Platform Application Type Outlook (Revenue, USD Million, 2018 - 2030)
Web-based
Mobile-based
Low-code Development Platform Deployment Type Outlook (Revenue, USD Million, 2018 - 2030)
Cloud
On-premise
Low-code Development Platform Organization Size Outlook (Revenue, USD Million, 2018 - 2030)
SME
LargeEnterprise
Low-code Development Platform End-use Outlook (Revenue, USD Million, 20182030)
BFSI
Automotive&Manufacturing
Retail
Education
IT&Telecom
Transportation&Logistics
Others
Low-code Development Platform Regional Outlook (Revenue, USD Million, 20182030)
NorthAmerica
o U.S.
o Canada
Europe
o Germany
o U.K.
AsiaPacific
o China
o Japan
o India
LatinAmerica
o Brazil
o Mexico
MiddleEast&Africa
List of Key Players of the Low-Code Development Platform Market
Appian
Creatio
LANSA
MendixTechnologyBV
Microsoft
Oracle
OutSystems
PegasystemsInc.
Quickbase
Salesforce,Inc.
Servicenow
ZohoCorporationPvt.Ltd.
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Why Purchase this Report?
A strong research methodology was followed to collect data for the report. The data collected in this way are subjected to several quality checks to provide the best quality.
The report provides a holistic view of the Low-code Development Platform Market
The latest product launches, along with technological changes and developments, are included in the report.
The data analysis in the report will help you understand Low-code Development Platform Market dynamics projected from 2022 - 2030
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Highlights Points of the Market:
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The market report covers the key challenges, competitive landscape, and demographic analysis that can help companies get insight into the country-specific variations.
The analysts also emphasize on the key trends and the future opportunities that can be explored in the region than can help companies in revenue expansion.
To gain competitive intelligence about leading companies with information about their market share and growth rates.
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