The Latin America, Middle East and Africa Rapid Application Development Platform Market is expected to witness market growth of 42.4% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Rapid Application Development Platform Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $11.89 billion by 2031. The Argentina market is showcasing a CAGR of 44.3% during 2024-2031. Additionally, the UAE market would register a CAGR of 41.3% during 2024-2031.
The user-friendly nature of RAD platforms makes them accessible to a broad range of users, including business analysts and non-technical stakeholders. With visual development tools and drag-and-drop interfaces, these platforms allow individuals without extensive programming knowledge to contribute to the application development process, fostering collaboration between technical and non-technical teams.
This market is witnessing significant trends that reflect businesses' evolving demands for faster application delivery and better user experiences. One of the most significant trends shaping the market is the integration of AI and ML technologies into RAD platforms. AI-powered features like predictive analytics and automated code generation make it easier for developers to build sophisticated applications quickly.
The rapid application development platform market is experiencing significant growth, driven by various regional developments emphasizing technological advancement and economic expansion. This growth is particularly evident in regions such as the UAE, Brazil, and MENA, where initiatives and investments foster a favorable environment for RAD platforms.
In October 2021, the Abu Dhabi Department of Economic Development (ADDED) announced a groundbreaking Smart Manufacturing initiative to transform the UAE’s manufacturing landscape. Moreover, Brazil's growing investment in AI and Intelligent Process Automation (IPA) demonstrates a robust technological advancement landscape. As per the International Trade Administration (ITA), AI spending in Brazil surpassed US$1 billion in 2023, representing a 33% year-over-year increase.
Based on Type, the market is segmented into Low-code Development Platforms and No-code Development Platforms. Based on Component, the market is segmented into Tools and Services. Based on Deployment, the market is segmented into Cloud and On-premise. Based on Business Function, the market is segmented into IT, Sales & Marketing, Finance, and HR & Operations.
The Brazil market dominated the LAMEA Rapid Application Development Platform Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $11.89 billion by 2031. The Argentina market is showcasing a CAGR of 44.3% during 2024-2031. Additionally, the UAE market would register a CAGR of 41.3% during 2024-2031.
The user-friendly nature of RAD platforms makes them accessible to a broad range of users, including business analysts and non-technical stakeholders. With visual development tools and drag-and-drop interfaces, these platforms allow individuals without extensive programming knowledge to contribute to the application development process, fostering collaboration between technical and non-technical teams.
This market is witnessing significant trends that reflect businesses' evolving demands for faster application delivery and better user experiences. One of the most significant trends shaping the market is the integration of AI and ML technologies into RAD platforms. AI-powered features like predictive analytics and automated code generation make it easier for developers to build sophisticated applications quickly.
The rapid application development platform market is experiencing significant growth, driven by various regional developments emphasizing technological advancement and economic expansion. This growth is particularly evident in regions such as the UAE, Brazil, and MENA, where initiatives and investments foster a favorable environment for RAD platforms.
In October 2021, the Abu Dhabi Department of Economic Development (ADDED) announced a groundbreaking Smart Manufacturing initiative to transform the UAE’s manufacturing landscape. Moreover, Brazil's growing investment in AI and Intelligent Process Automation (IPA) demonstrates a robust technological advancement landscape. As per the International Trade Administration (ITA), AI spending in Brazil surpassed US$1 billion in 2023, representing a 33% year-over-year increase.
Based on Type, the market is segmented into Low-code Development Platforms and No-code Development Platforms. Based on Component, the market is segmented into Tools and Services. Based on Deployment, the market is segmented into Cloud and On-premise. Based on Business Function, the market is segmented into IT, Sales & Marketing, Finance, and HR & Operations.
List of Key Companies Profiled
- Microsoft Corporation
- Salesforce, Inc.
- IBM Corporation
- Oracle Corporation
- SAP SE
- Siemens AG (Mendix)
- Pegasystems, Inc.
- ServiceNow, Inc.
- Appian Corporation
- Progress Software Corporation
- OutSystems
Market Report Segmentation
By Type
- Low-code Development Platforms
- No-code Development Platforms
By Component
- Tools
- Services
By Deployment
- Cloud
- On-premise
By Business Function
- IT
- Sales & Marketing
- Finance
- HR & Operations
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Vertical
- BFSI
- IT & Telecommunications
- Government & Public Sector
- Retail & E-commerce
- Energy & Utilities
- Manufacturing
- Media & Entertainment
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Rapid Application Development Platform Market by Type
Chapter 6. LAMEA Rapid Application Development Platform Market by Component
Chapter 7. LAMEA Rapid Application Development Platform Market by Deployment
Chapter 8. LAMEA Rapid Application Development Platform Market by Business Function
Chapter 9. LAMEA Rapid Application Development Platform Market by Enterprise Size
Chapter 10. LAMEA Rapid Application Development Platform Market by Vertical
Chapter 11. LAMEA Rapid Application Development Platform Market by Country
Chapter 12. Company Profiles
Companies Mentioned
- Microsoft Corporation
- Salesforce, Inc.
- IBM Corporation
- Oracle Corporation
- SAP SE
- Siemens AG (Mendix)
- Pegasystems, Inc.
- ServiceNow, Inc.
- Appian Corporation
- Progress Software Corporation
- OutSystems
Methodology
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