Global Low Code Development Platform Market: Snapshot
The global low code development platform market was valued at US$ 1,647.0 Mn in 2015 and is anticipated to increase at a CAGR of 54.5% from 2017 to 2025. A low-code development platform bundles all components together into a single intelligible set of tools that enables to create applications visually. In addition, the growing requirement for software automation and innovative applications for business procedures forced software developers to build custom applications in volume. Low code development platform have the capability to build and deploy applications seamlessly with a minimum of hand-coding, minimal upfront investment in setup, training, and deployment. Furthermore, low code development platforms offer an exceptional communication mechanism to support business and IT stakeholders, thus ensuring better software quality and more effective business results. Moreover, the market for app development has outgrown the information and communication technologies market in the past few years, and its growth is estimated to accelerate in the future.
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Application development and delivery (AD&D) leaders are more focused on adopting these platforms as an important tool for creating noncritical applications utilizing nontraditional developer talent. AD&D professionals are gaining confidence that low-code development platforms can support rapid delivery of even more complex, large, and trustworthy customer solutions. Therefore, increasing investment in development platforms across the globe is expected to drive the growth of the low code development platform market. Apart from this, Low-code platforms are expected to make life easier for many small and medium businesses, especially considering the cost of bringing on new and more developers. Consequently, this is impelling the demand for the low code development platform among end-users.
North America Emerges as Leading Region in Global Low Code Development Platform
Regionally, North America shows the highest potential for the market’s expansion. It accounted for nearly 40% of the global low code development platform market in 2016. Besides this, Europe is exhibiting lucrative prospects. The region’s rising investment in development platforms is helping the low code development platform market growth in Europe. Furthermore, increasing demand for customer application will aid the market’s expansion. Low-code platforms help in resolving concerns related to delivery-speed and does this at an affordable cost. Low-code development platforms therefore offer improved performance compared to their traditional counterparts.
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In the forthcoming years, Asia Pacific is expected to offer robust growth opportunities to the global low code development platform market. This is largely due to the rising demand from emerging nations such as India, China, and Japan.
Demand for Mobile-first App Platform and General Purpose Platform Forecast to Rise
Low code development platform is bifurcated by type and deployment type. By type, the global low code development platform market is categorized into general purpose platform, mobile – first app platform, database app platform, request handling platform, process app platform and others. Among these, mobile – first app platform and general purpose platform are the major segments which are expected to fuel the growth of low code development platform market over the forecast period. Based on deployment type, the market is segmented into on-premise and cloud-based. Furthermore, the cloud-based deployment segment is further categorized into public, private and hybrid. Among these deployment type, hybrid cloud is the key segment which is expected to enhance the growth of low code development platform market around the globe.
Major players such as Google, Microsoft and Salesforce are estimated to work towards integration and creation of apps on the cloud services that they offer. They are expected to focus on providing an end-to-end app that would exploit the plethora of services in their ecosystem easily. Some of the major players in global low code development platform market are AgilePoint, Bizagi Appian Corporation, Caspio, Inc., Mendix, OutSystems, MatsSoft Inc., Salesforce.com, Inc., Microsoft Corporation and Google Inc.
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Global Low Code Development Platform Market to Expand with Need for Customization on Websites
The demand within the global low code development platform market is set to rise in the times to come by. The growth of this market is a direct function of the need for web development across large and small organizations. Web development has emerged as a noticeable digital service for companies across the globe. However, web development is not the only requirement that prevails across the corporate entity. In addition to developing sound websites, there is growing need for customization across the corporate sector. The changing operating dynamics across this sector have necessitated the use of low code development platforms for frequent customization.
- Websites for personal branding have also gained popularity across the corporate domain. This means that established thoughts leaders are positioning themselves to potential viewers. This has helped these entities in creating their personal brand that in turn enabling them to take leverage of their popularity. The presence of a sound website has created new opportunities for thoughts leaders to position themselves. Therefore, the essence of low code development platform can be gauged from understanding the needs of the corporate entities. The COVID-19 pandemic has caused disruptions across major industries, prompting the masses to go digital in their approach. The need for making social interactions virtual has furthered the demand for web development.
- Several web development platforms such as WordPress have enabled the inflow of fresh revenues into the global low code development platform market. Coding has become a cumbersome procedure, and has attracted flak from low-key developers across the globe. This is also a sound dynamic of growth within the global low code development platform market. Over the course of the next century, most websites are projected to go on low-code platforms. This owes to the growing need for regular customization in design and content for websites.
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