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.
Related Press
Release@ Low-code Development Platform Market Report
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
Low-Code Development Platform Market Segmentation
Grand
View Research has segmented the global low-code development platform market
based on application type, deployment type, organization size, end-use, and
region:
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
- Large
Enterprise
Low-code Development Platform End-use Outlook (Revenue,
USD Million, 2018 - 2030)
- BFSI
- Automotive
& Manufacturing
- Retail
- Education
- IT &
Telecom
- Transportation
& Logistics
- Others
Low-code Development Platform Regional Outlook (Revenue,
USD Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- Japan
- India
- Latin
America
- Brazil
- Mexico
- Middle East
& Africa
List of Key Players of the Low-Code Development Platform
Market
- Appian
- Creatio
- LANSA
- Mendix
Technology BV
- Microsoft
- Oracle
- OutSystems
- Pegasystems
Inc.
- Quickbase
- Salesforce,
Inc.
- Servicenow
- Zoho
Corporation Pvt. Ltd.
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, the company offers
market intelligence studies ensuring relevant and fact-based research across a
range of industries including technology, chemicals, materials, healthcare and
energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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