Low-code Development Platform Industry Overview
The global low-code development platform market size was valued at USD 5.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of around 22.9% from 2022 to 2030. The growth can be credited to the growing interest of organizations in digital transformation and automation of their business processes. The increased need to rapidly deploy the solutions to automate the business operations has paved new ways for the adoption of low-code development platforms. These platforms deliver building blocks that the business users or IT developers can use for assembling into the workflows and applications without hand-coding.
Gather more insights about the market drivers, restraints, and growth of the Global Low-code Development Platform Market
The increasing consumer proclivity toward low-code development has created the need for improved ways to scale apps and educate the users, whether professional developers or business employees with these solutions. For instance, in May 2022, Pegasystems Inc. launched new Pega Platform templates, services, and training courses to help citizen developers create low-code applications quickly and effectively.
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Low-code Development Platform Industry 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
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
April 2022: Mendix Technology BV inked an extended partnership deal with Atos which will enable the latter to incorporate the Mendix low-code platform to facilitate decarbonization and hyper-automation across enterprises.
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.
Key Companies profiled:
Some prominent players in the global Low-code Development Platform Industry include
- Appian
- Creatio
- LANSA
- Mendix Technology BV
- Microsoft
- Oracle
- OutSystems
- Pegasystems Inc.
- Quickbase
- Salesforce, Inc.
- Servicenow
- Zoho Corporation Pvt. Ltd.
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