Global Lowcode Development Platform Market Bwc20186

Global Low-Code Development Platform Market Size, By Offering (Solution, Service), Deployment Type (Cloud, On-Premises), Enterprise (Large Enterprises, SME), Vertical (IT, BFSI, Retail, Healthcare, Government, Manufacturing, Media and Entertainment, Education, Energy, and Utilities), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa), Trend Analysis, Competitive Market Share & Forecast, 2016-2026

  • Published Date: October 2020
  • Report ID: bwc20186
  • Available Format: PDF
  • Page: 181

Report Overview

Global Low-Code Development Platform Market Size - Industry Trends & Outlook Report 2026

 

The pouring request for mobile-based apps for the business processes and an increasing number of use programming interfaces (API) helps by the solution vendors are supposed to be pushing factors for the low code development platform market over the prediction period

Growing requests for business digitization, less addiction to information technology (IT) professionals, and severe government standards are the key elements motivating the low-code growth platform industry and due to the increasing internet diffusion, growing smartphone penetration, fast economic development in leading countries, and rising IT service industry in the region. Increasing disposable income in numerous emerging countries is considerably increasing the request for mobile devices, which, in turn, further fuels the growth of the low-code growth platform market. Besides, APAC countries are the most preferred destination for IT subcontracting. Owing to this, IT companies receive large-scale requests for application development, which further boosts the progress of the market.

 

Global Low-Code Development Platform Market – Overview 

 

A low code development platform (LCDP) mentions the growth of applications software using the graphical user interface (GUI) instead of the conservative procedure of computer programming. The stages mainly focus on the formation and growth of business processes and user boundaries such as web uses and database stages. The low code growth offers little or no coding techniques, which eventually reduce the time and cost for the platform's development, which, in turn, is beneficial to the business procedures.         

 

Salesforce.com, Outsystem, and Mendix are the foremost companies, which offer different platforms such as Salesforce App cloud platform, OutSystems, and Mendix platform separately, which allows making and emerging their business app and execution sooner than their hope. 

The low code growth platform offers critical and sophisticated solutions to ease the business processes, which are generally categorized into web and mobile solutions.

 

Global Low-Code Development Platform Market 

 

Growth Drivers 

 

Increasing Preferences toward Cloud-Based Low-Code Development Platform Is the Key Market Trend

Cloud-based systems have much lesser functioning costs as related to the on-premises set-up. This is mainly because cloud-based systems do not need on-site data servers, which then is a huge operational expenditure (OPEX) for organizations. Furthermore, with a cloud-based low-code growth platform, feature informs are pushed spontaneously, which ensures that it is running on the newest software version. Further, the scalability of the cloud-based low-code platform is limitless. Cloud deployment enables an organization to scale up or scale down when needed, without any additional purchases of hardware by themselves. Such factors are leading to the increasing tendency of the acceptance of cloud-based low-code platforms.

 

Increasing Demand for Business Digitization Is Highly Influencing the Market Growth

 

With the digital transformation, companies operating in financial services and insurance (BFSI); manufacturing; banking, automotive; oil & gas; and several other verticals are forced to adopt digital technologies to stay ahead in the market. A Low-code development platform plays a serious role in the digital conversion journey of an organization. It helps reduce time and resources compared to the old-style software growth process. With the rise in demand for business applications across industries, the platform is predictable to play an essential role in letting quick digitization of business processes, such as sales, accounting and finance, and operations. Thus, the increasing focus on digitization results increased the growth of the low-code growth platform market internationally.

 

Impact of COVID-19

 

The unexpected outbreak of the COVID-19 pandemic has offered lucrative opportunities to the low code growth platform market to grow. The various quantity of businesses has shutdown forcefully during this epidemic due to deficiency in the supply of raw materials and no receipt of e-commerce technology that someplace creates a problem in connectivity with users, suppliers, and others for processing the business. After the pandemic, customers will become more comfortable with online ordering, payments, and delivery. Hence, marketers must adopt low-code solutions to survive and maximize their funds by trying different online marketing tactics.

 

Global Low-Code Development Platform Market: Segmentation

 

Based on offering, Solution Category Witnessed the Uppermost Acceptance in the Market. In 2019, the solution-offering grouping accounted for the main market size in the low-code development platform market. This is mostly due to the increasing adoption of low-code growth platforms crosswise all verticals to decrease functioning prices for the long term. As for citizen developers, companies are not required to hire a software developer, which helps save a significant amount of operational costs.

 

As per deployment type, Cloud Deployment likely to see quicker growth during Estimate Period. The cloud deployment grouping is predictable to see faster development in the low-code growth platform market. This is mainly credited to the fact that the popularity of market players is offering low-code growth platform over the cloud. Besides, cloud-based deployment offers augmented scalability, 24/7 service, high speed, and improved controlling competences for application growth. Therefore, due to low IT infrastructural costs and high scalability, the demand for cloud deployment is predictable to produce in the pending years.

Large Enterprises Generated Higher income in the Market. In 2019, the broad enterprise category conquered the low-code growth platform market. This is because large enterprises have a considerably advanced budget to accept low-code development platform to develop many new uses in less time for their procedures. For instance, Genpact Limited and Yahoo Inc. have already received the low-code development stage to surge their work competence.

 

Based on vertical, IT Vertical Generated Highest Revenue in the Industry. The IT category held the largest share in the low-code development platform market in 2019 and is predictable to retain the tendency shortly as well. This is mainly credited to the early acceptance of new technologies. IT companies grow a significant number of mobile, web applications, and other third-party solutions. Furthermore, these companies often face backlogs with increasing needs for new apps and third-party packed solutions from various trades. As a result, these companies are progressively accepting low-code growth stages that offer visual app creation, inform, and sharing facilities, which take notably less time as likened to manual coding use development.

Based on region, Low-Code Development Platform Market is segmented by key regions— North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America is expected to account for a prominent share of the market by the end of the forecast period. North America’s dominance is attributed to the implementation of ICD codes and the rising number of hospitalizations in the region.

 

Global Low-Code Development Platform Market: Regional Insights 

 

The low-code development market is predicted to reach the APAC region's firmest development throughout the estimated period. This is due to the increasing internet penetration, increasing smartphone penetration, hasty economic development in major countries, and the growing IT service industry. Increasing disposable income in several emerging countries is considerably growing the request for mobile devices, which, in turn, further fuels the growth of the low-code growth platform market. Furthermore, APAC countries are the most preferred purpose of IT outsourcing. Owing to this, IT companies obtain large-scale requests for application growth, which additionally increases the progress of the market.



Source : Blueweave Consulting



 Competitive Landscape 

The leading players in the Low-Code Development Platform Market include Salesforce (U.S.), OutSystems(U.S.) and Mendix(U.S.), Google Inc., (U.S.), Caspio (U.S.), Appian (U.S.), Microsoft Corporation (U.S.), MatsSoft (U.K), K2(U.S.), Bizagi (U.K), AgilePoint (U.S.) Service now (U.S.), Kony Inc, (U.S), and TrackVia Inc. (U.S.).

Recent Developments

·         In April 2019, Siemens AG integrated Mendix Inc.’s Mendix low-code solution in its internet of things (IoT) platform MindSphere. MindSphere is a cloud-based IoT operating system that helps developers to build, test, and deliver IoT-based applications. Further, this is expected to boost company’s investment in connected sensor technology.

·         January 30, 2018 – Caspio, the leading low-code platform for online database applications, announced that it recently exceeded one million customer applications built and deployed on its all-in-one cloud platform.

 

Scope of Report

Attribute

Details

Years Considered

Historical data – 2016-2018

Base Year – 2019

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia .

Product/Service Segmentation

By Offering, By Deployment Type,By Enterprise,By Vertical, By Region

Key Players

The leading players considered for market analysis are Salesforce (U.S.), OutSystems(U.S.) and Mendix(U.S.), Google Inc., (U.S.), Caspio (U.S.), Appian (U.S.), Microsoft Corporation (U.S.), MatsSoft (U.K), K2(U.S.), Bizagi (U.K), AgilePoint (U.S.) Service now (U.S.), Kony Inc, (U.S), and TrackVia Inc. (U.S.).

 

 

·         By Offering

ü  Solution

ü  Services

·         By Deployment Type

ü  Cloud

ü  On-Premises

·         By Enterprise

ü  Large Enterprises

ü  SME

·         By Vertical

ü  IT

ü  BFSI

ü  Retail

ü  Healthcare

ü  Government

ü  Manufacturing

ü  Media and Entertainment

ü  Education

ü  Energy and Utilities

·         By Region

ü North America

ü Europe

ü Asia Pacific

ü South America

ü Middle East & Africa

 

The objective of the Study:

• To analyze and forecast the Low-Code Development Platform Market size of the market in terms of value.

• To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

• The Low-Code Development Platform Market into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.

• To outline, categorized, and forecast the Low-Code Development Platform Market based on the By Offering, By Deployment Type, By Enterprise, By Vertical and By Regional and By Regional.

• To examine competitive developments, like By Offering, By Deployment Type, By Enterprise, By Vertical and By Regional within the Low-Code Development Platform Market.

• To highlight the impact analysis of the factors affecting the market dynamics such as growth drivers.

• To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

 

Business Questions Answer by the Report

         How will the market drivers, restraints, and opportunities affect the market dynamics?

         What will be the market size in terms of value and volume and market statistics with a detailed classification?

         Which segment dominates the market or region, and one will be the fastest - growing, and why?

         A comprehensive survey of the competitive landscape and the market participant players

         Analysis of strategy adopted by the key player and their impact on other players.

 

Customization Scope for the Client

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

•    With five additional company detail analysis

•    Additional country analysis

•    Detailed segment analysis