Dublin, Dec. 23, 2021 (GLOBE NEWSWIRE) -- The "Low-Code Development Platform Market Research Report - Global Industry Analysis, Trends and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global low-code development platform market revenue, which was $12,500.6 million in 2020, is predicted to witness a 31.3% CAGR during 2020-2030, to reach $190,792.6 million by 2030.
A key reason behind this would be the remote working policies, movement restrictions, and general lockdowns that were implemented around the world during the COVID-19 pandemic. These measures led to a drastic rise in the demand for computer and mobile applications offering news and gaming, COVID-related alerts, and other features.
Low-code development platforms allow even those with almost zero knowledge of computer programming and coding to create applications and software, with its drag-and-drop approach. Even before the pandemic, the swift digital transformation had driven the demand for all kinds of mobile and computer software and applications. As a result, IT companies are using the low-code development technology to cut their software development time and cost, by engaging citizen developers.
Most users have deployed low-code development platforms over the cloud as this mode offers increased scalability, 24/7 data access, and reduced IT expenditure.
In the coming years, small and medium enterprises (SMEs) will become quite important in the low-code development platform market as the proposition of reduced expenses and quicker app delivery provided by this technology makes it ideal for smaller companies with limited finances.
The IT sector has been the largest user of this technology till now as it creates most of the software and applications for computers and mobile phones. Hence, such companies have widely adopted these solutions to optimize their productivity and reduce their reliance on expensive resources.
In the future, the demand for services, such as low-code development platform integration and deployment, training, consultation, and upgradations, will increase faster than for the solutions themselves.
In the years to come, Asia-Pacific (APAC) will be the fastest-growing low-code development platform market on account of the increasing focus of governments on digital transformation, burgeoning smartphone and internet penetration, and expanding IT sector. Moreover, a lot of North American and European companies outsource application and software development to those based in APAC, which is driving the usage of this technology.
The major companies in the low-code development platform market are Appian Corporation, Alphabet Inc., Salesforce.com Inc., Oracle Corporation, MatsSoft Limited, ServiceNow Inc., AgilePoint Inc., Caspio Inc., Outsystems Inc., Microsoft Corporation, Lansa Inc., Mendix Technology B.V., QuickBase Inc., Magic Software Enterprises Ltd., Pegasystems Inc., and Temenos Headquarters SA. They are engaging in product launches and partnerships to consolidate their position and gain higher revenue.
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions For the Study
Chapter 3. Executive Summary
3.1 Voice of Industry Experts/KOLs
Chapter 4. Market Indicators
4.1 Total Number of Enterprises, by Sector
4.1.1 Manufacturing
4.1.2 Information and Communication Technology (ICT)
4.1.3 Wholesale and Retail Trade
4.1.4 Accommodation and Food Service Activities
4.1.5 Administrative and Support Service Activities
4.1.6 Professional, Scientific, and Technical Activities
4.1.7 Real Estate
4.1.8 Electricity, Gas, Steam, and Air Conditioning Supply
4.1.9 Transportation and Storage
4.2 Geographical Distribution of Spending on Internet of Things (IoT)
4.3 Internet Protocol Traffic
4.4 Share of ICT Services in Total Exports of Services: Top 20 Countries
4.5 Online Content Creation, by Geographical Region
4.6 Proportion of Small and Large Enterprises Receiving Orders Over the Internet
4.7 Software Budget Breakout For 2021
4.7.1 By Region
4.7.1.1 North America
4.7.1.2 Europe
4.7.2 By Company Size
4.7.2.1 SMEs
4.7.2.2 Large Enterprises
4.8 Digitization Adoption in Europe and the U.S.
4.9 Adoption of Different Digital Technologies by Start-Ups and Scale-Ups
4.10 Internet Access: Percentage of All Households
4.11 Digital Competitiveness Ranking
Chapter 5. Introduction
5.1 Definition of Market Segments
5.1.1 By Offering
5.1.1.1 Solution
5.1.1.1.1 General-Purpose Platform
5.1.1.1.2 Process App
5.1.1.1.3 Database App
5.1.1.1.4 Mobile-First App
5.1.1.1.5 Request-Handling Software
5.1.1.2 Service
5.1.1.2.1 Professional
5.1.1.2.2 Managed
5.1.2 By Deployment Type
5.1.2.1 Cloud
5.1.2.2 On-Premises
5.1.3 By Enterprise
5.1.3.1 Large Enterprises
5.1.3.2 SMEs
5.1.4 By Vertical
5.1.4.1 IT
5.1.4.2 BFSI
5.1.4.3 Retail
5.1.4.4 Healthcare
5.1.4.5 Government
5.1.4.6 Manufacturing
5.1.4.7 Media and Entertainment
5.1.4.8 Education
5.1.4.9 Energy and Utilities
5.1.4.10 Others
5.2 Value Chain Analysis
5.3 Market Dynamics
5.3.1 Trends
5.3.1.1 Need for Optimum TTM Strategy
5.3.1.2 Increasing Preference Toward Cloud-Based Low-Code Development Platform
5.3.1.3 Low-Code Development Has Progressed Beyond App Development
5.3.1.4 Edge Computing is Becoming More Popular
5.3.2 Drivers
5.3.2.1 Increasing Demand for Business Digitization
5.3.2.2 Less Dependency on IT Professionals
5.3.2.3 Stringent Government Norms
5.3.2.4 Use of Low-Code Development Tools Minimizes the Problem of "Shadow IT"
5.3.2.5 Automation of Workflows
5.3.2.6 Impact Analysis of Drivers on Market Forecast
5.3.3 Restraints
5.3.3.1 Threat to Scalability and Security of Data
5.3.3.2 Impact Analysis of Restraints on Market Forecast
5.3.4 Opportunities
5.3.4.1 AI-Enabled Low-Code Development Platform to Accelerate Digital Transformation
5.3.4.2 Businesses are in Desperate Need of Programmers With Necessary Skill Sets
5.4 Impact of COVID-19 on Low-Code Development Platform Market
5.4.1 Current Scenario
5.4.2 Factors Boosting the Market Growth
5.4.3 Future Scenario
5.5 Porter's Five Forces Analysis
Chapter 6. Global Market Size and Forecast
6.1 By Offering
6.1.1 Solution, by Type
6.1.2 Service, by Type
6.2 By Deployment Type
6.3 By Enterprise
6.4 By Vertical
6.5 By Region
Chapter 7. North America Market Size and Forecast
Chapter 8. Europe Market Size and Forecast
Chapter 9. APAC Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. MEA Market Size and Forecast
Chapter 12. Major Markets
12.1 U.S. Market, by Vertical
12.2 Germany Market, by Vertical
12.3 China Market, by Vertical
12.4 UK Market, by Vertical
12.5 India Market, by Vertical
Chapter 13. Competitive Landscape
13.1 List of Key Players and Their Low-Code Offerings
13.2 Market Share Analysis of Key Players
13.3 Competitive Benchmarking of Market Players
13.4 Recent Activities of Major Players
13.5 Strategic Developments of Key Players
13.5.1 Mergers and Acquisitions
13.5.2 Product Launches
13.5.3 Partnerships
13.5.4 Facility Expansion
13.5.5 Geographic Expansion
13.5.6 Client Wins
13.5.7 Others
Chapter 14. Company Profiles
14.1 Appian Corporation
14.1.1 Business Overview
14.1.2 Product and Service Offerings
14.1.3 Key Financial Summary
14.2 Salesforce.com Inc.
14.3 Alphabet Inc.
14.4 Oracle Corporation
14.5 Servicenow Inc.
14.6 Matssoft Limited
14.7 Agilepoint Inc.
14.8 Outsystems Inc.
14.9 Caspio Inc.
14.10 Microsoft Corporation
14.11 Mendix Technology B.V.
14.12 Lansa Inc.
14.13 Quickbase Inc.
14.14 Pegasystems Inc.
14.15 Magic Software Enterprises Ltd.
14.16 Temenos Headquarters SA
For more information about this report visit https://www.researchandmarkets.com/r/1xm0cy
