The Application Development Software Global Market Report 2023 by The Business Research Company, provides application development software market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Application Development Software Global Market Report 2023, the market size will grow from $260.79 billion in 2022 to $334.86 billion in 2023 at a compound annual growth rate (CAGR) of 28.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the application development software is expected to grow to $915.96 billion in 2027 at a CAGR of 28.6%.
The increasing demand for customized apps is expected to propel the growth of the application development software market. Customized apps offer features such as being friendly to hybrid environments, serving niche and complex needs, easy integration with platforms, and better performance.
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The application development software market is segmented:
1) By Type: Low Code, No Code
2) By Organization Size: SMEs, Large Enterprises
3) By Deployment: Cloud, On Premise
4) By Application: Media and Entertainment, Telecom and IT, BFSI, Healthcare
The low code app development platform is a key trend gaining popularity in the application development software market. Low code development is an approach of software development to optimize the development process and speed up the delivery of the software, thus helping the enterprises to automate every step of the application of the product lifecycle. For instance, in June 2021, Salesforce, a US-based software company, released a powerful set of low-code development tools that allow everyone within an organization, to create and ship apps on a single platform. The platform includes interactive app development and automation, along with the new elastic computing, identity management, AI-driven data protection, and DevOps capabilities to help teams drive business outcomes faster.
The application development software market report table of contents includes:
1.Executive Summary
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