The Business Research Company’s report on the Low-Code Development Platform Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the low-code development platform market in recent years?
The increase in demand for applications for business organizations is expected to propel the growth of the low-code development platform market over the coming years. Low code is a coding-based software that allows business unit optimized business processes users to create and manage applications quickly with less manual coding. According to the bureau of labor statistics, a US-based department of labor indicated there will be a shortage of engineers by 2026 by 1.2 million. Moreover, only 39.6% of candidates for IT job opportunities fulfill all of the employer’s standards. This will create a demand for low code platforms where tasks can be completed automatically with precision.
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What is the projected market size of the low-code development platform industry, and how is it expected to grow?
The low-code development platform market size has grown exponentially in recent years. It will grow from $39.64 billion in 2024 to $50.31 billion in 2025 at a compound annual growth rate (CAGR) of 26.9%. The growth in the historic period can be attributed to increased demand for rapid application development, shortage of skilled developers, cost-efficiency in application development, agility and flexibility, empowerment of business users, user-friendly development environment, integration capabilities.
The low-code development platform market size is expected to see exponential growth in the next few years. It will grow to $157.66 billion in 2029 at a compound annual growth rate (CAGR) of 33.0%. The growth in the forecast period can be attributed to cross-platform development, increased focus on security, expansion of industry-specific solutions, evolving regulatory landscape, focus on scalability, open source low-code solutions. Major trends in the forecast period include rapid adoption of low-code platforms, integration with devops practices, expansion of mobile app development, security enhancements in low-code solutions, ecosystem growth and marketplace integration, collaboration and team-based development, enhanced user experience and design tools, vendor partnerships and mergers.
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Who are the key players driving competition in the low-code development platform market?
Major companies operating in the low-code development platform market include AgilePoint Inc., Appian Corporation, Caspio Inc., Fujitsu RunMyProcess Inc., Nintex Software Inc., LANSA Inc., Magic Software Enterprises Ltd., MatsSoft Limited, Mendix Technology Inc., Microsoft Corporation, Netcall Ltd., Oracle Corporation, OutSystems Inc., Pegasystems Inc., QuickBase Inc., Salesforce. com Inc., ServiceNow Inc., WaveMaker Inc., Zoho Corporation Pvt. Ltd., Google LLC, TrackVia Inc., Bizagi Process Automation Inc., Boomi Inc., Bubble Group Inc., DronaHQ (Deltecs InfoTech Pvt. Ltd. ), HCL Domino, Intuit QuickBase, KiSSFLOW Inc.
What key trends are expected to drive the low voltage cables & accessories market during the forecast period?
Technological advancements are shaping the low-code development platform market. Integration of AI provides an opportunity to use a low-code development platforms in various applications, such as solving complex functions, detecting content using keywords or colors, and inserting information in templates. Artificial intelligence is used to engineer a low-code development platform to integrate legacy systems by eliminating technical complexity. For instance, in November 2023, Aurachain, a Switzerland-based company that offers blockchain-based business process management platform, launched the AI Powered low-code platform. This new capability highlights Aurachain’s dedication to delivering an exceptional experience for both professional and citizen developers. It boosts the efficiency of low-code development, especially excelling in handling complex and customized processes and applications.
Which key geographies are driving the growth of the low-code development platform market?
North America was the largest region in the low-code development platform market in 2024. The regions covered in the low-code development platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the key segments driving growth in the low-code development platform market?
The low-code development platform market covered in this report is segmented –
1) By Component: Platform, Services
2) By Application: Web-Based, Mobile-Based, Desktop And Server-Based
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Industry: Banking, Financial Services, And Insurance (BFSI), Retail And eCommerce, Government And Defense, Healthcare, IT, Energy And Utilities, Manufacturing
Subsegments:
1) By Platform: Development Tools, Integration Tools, Deployment Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services
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What defines the structure and scope of the low-code development platform market?
Low-code development platform (LCDP) refers to a software development approach that uses a graphical user interface with simple features and logic. These platforms have enabled users to operate apps fluently and easily. It offers low or no coding techniques, which ultimately reduces the time and cost for the development of the platform, which, in turn, is useful to the business processes.
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