The global market for Low Code Development Platform was estimated at US$41.0 Billion in 2023 and is projected to reach US$388.6 Billion by 2030, growing at a CAGR of 37.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Global Low Code Development Platform Market - Key Trends & Drivers Summarized
Why Is the Demand for Low Code Platforms Rising?
Low code development platforms have become essential tools for businesses looking to expedite their digital transformation efforts by enabling rapid application development with minimal coding. These platforms allow non-developers and IT teams alike to create applications using intuitive drag-and-drop interfaces, fostering collaboration between business and technical teams. With the rise in demand for custom applications and a global shortage of skilled software developers, low code platforms present an effective solution for organizations seeking agile development and reduced time-to-market.What Technological Innovations Are Enhancing Low Code Platforms?
Recent advancements in artificial intelligence and cloud technology have significantly expanded the capabilities of low code development platforms. By integrating AI-powered features like predictive analytics, process automation, and natural language processing, these platforms now offer enhanced functionality and usability. Furthermore, cloud-based low code solutions provide scalable, flexible deployment options that meet the needs of both small businesses and large enterprises. Integration with other enterprise systems and third-party applications has also improved, enabling seamless data exchange and functionality extension across different organizational platforms.How Are Different Sectors Adopting Low Code Solutions?
The adoption of low code platforms spans various sectors, with financial services, healthcare, and manufacturing leading the charge. In the financial sector, low code is used to develop customer-facing applications, enhance process automation, and strengthen regulatory compliance through quick modifications. Healthcare providers benefit from low code's capacity to create patient management systems and telehealth solutions, improving patient engagement. Meanwhile, manufacturing firms use low code platforms to streamline supply chain management and develop maintenance scheduling applications. These examples highlight how low code is becoming a strategic asset across industries.The Growth in the Low Code Development Platform Market Is Driven by Several Factors
The growth in the low code development platform market is driven by several factors, including the global shortage of skilled developers, increasing demand for agile application development, and the rise of digital transformation initiatives. Businesses seeking to reduce development costs and accelerate deployment timelines are embracing low code as a viable solution. Additionally, advancements in AI and cloud technology have expanded low code's potential, making it suitable for more complex applications. With the pressure to innovate and respond to market changes faster, low code development platforms are seeing increased adoption, further fueling the market's expansion.Scope of the Study
The report analyzes the Low Code Development Platform market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.Segments
Application (Web-Based, Mobile); Deployment (Cloud, On-premise); Organization Size (Small and Medium-Sized Enterprises, Large Enterprises)Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Web-Based Application segment, which is expected to reach US$157.9 Billion by 2030 with a CAGR of a 36.5%. The Mobile Application segment is also set to grow at 39.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $12.2 Billion in 2023, and China, forecasted to grow at an impressive 35.3% CAGR to reach $52.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Low Code Development Platform Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Low Code Development Platform Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Low Code Development Platform Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Low Code Development Platform Market such as Agilepoint, Inc., Appian Corporation, Caspio, Inc., MatsSoft Ltd., Mendix Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 38 companies featured in this Global Low Code Development Platform Market report include:
- Agilepoint, Inc.
- Appian Corporation
- Caspio, Inc.
- MatsSoft Ltd.
- Mendix Inc.
- Outsystems
- Salesforce.com, Inc.
- ServiceNow, Inc.
- SourceCode Technology Holdings, Inc. dba k2
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- Agilepoint, Inc.
- Appian Corporation
- Caspio, Inc.
- MatsSoft Ltd.
- Mendix Inc.
- Outsystems
- Salesforce.com, Inc.
- ServiceNow, Inc.
- SourceCode Technology Holdings, Inc. dba k2
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 192 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 41 Billion |
| Forecasted Market Value ( USD | $ 388.6 Billion |
| Compound Annual Growth Rate | 37.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
