Low-Code Development Platform Market:
Growth opportunities in the Low-Code Development Platform Market look promising over the next six years. This is mainly due to the capability to establish applications in shorter time with low-cost investment.
Low-Code Development Platform Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The drivers responsible for the growth of the global low code development platform market include the expeditious surge in digitalization along with the robust digital environment systems. Also, these platforms are largely executed to enable the implementation and fast production of functional software capable of fulfilling the data needs and the unique processes of the organizations. Moreover, it is competent to develop different applications in less time which further results in economical investments. Additionally, other factors such as software automation, ease of usage, and innovative applications strengthen the low code development platform market size.
Furthermore, the widespread outbreak of the COVID-19 pandemic has positively influenced the growing market demand. This is primarily attributed to the stipulation imposed on the movement of people, which has persuaded organizations to engage with their customers and clients over the internet. The government across the world is generating applications to educate people with the alerts and notifications of coronavirus, for which the LCDPs authorize developers to create, develop, and deploy modifications. These factors together are supplementing the market growth.
However, the flaws related to the platform and customizations are hampering the market growth. Also, the toolkits obtainable in the market are not sufficient to reconcile and analyze the customization problems, which is further curbing the market size.
Regional Drivers
Based on the regional coverage, North America is expected to witness a higher CAGR during the forecast period. This is mainly because of the prevalence of leading market players that offer these platforms and services to all end-users, such as Microsoft, Appian, and Oracle. Furthermore, the constant enlargement in internet users and the improvement of mobile and web applications for the business organization supplement market growth. Also, extensive research & development activities, acquisitions, mergers, and partnerships are other factors contributing to market growth. For instance, Microsoft, in 2018, declared the procurement of Softomotive, a world-leading provider of robotic process automation (RPA). This alliance intends to democratize RPA and permit everyone to develop bots to automate manual business processes.
Low-Code Development Platform Market’s leading Manufacturers:
- Quickbase
- OutSystems
- AgilePoint
- Oracle
- com Inc.
- Mendix Tech BV
- ZOHO Corporation
- Appian
- Microsoft
- Pegasystems Inc.
Low-Code Development Platform Market Segmentation:
Segmentation by Component
- Platform
- Services
Segmentation by Application
- Web-Based
- Mobile-Based
- Desktop & Server-Based
Segmentation by Deployment Type
- On-Premise
- Cloud
Segmentation by End-Use Vertical
- BFSI
- Retail & eCommerce
- Government & Defense
- Healthcare
- Information Technology
- Energy & Utilities
- Manufacturing
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company’s large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird’s eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
