Low-Code Development Platform Market Latest Growth, Trends, Analysis And Forecast by 2024
Request to get the report sample pages at : www.psmarketresearch.com/market-analysis/low-code-development-platform-market/report-sample
Based on component, the market is bifurcated into services and solutions, of which solutions held the larger revenue share in 2018. This was because of the rising adoption of the technology in various sectors, in order a curb the IT spending. During the forecast period, the services bifurcation would experience the faster growth, as with the increasing adoption of the technology, the demand for its implementation and integration in businesses will also surge. Additionally, several firms are expected to demand customization and technical expertise on using it, to create apps.
When segmented by enterprise size, the categories of the low-code development platform market are small and medium enterprises (SME) and large enterprises. Of these, the market was led by large enterprises during the historical period (2014–2018), as such organizations have relatively higher budget for procuring such advanced technology. The SME category would grow faster during the forecast period, as several of these would adopt cost-effective cloud-based solutions, to increase their app development rate and decrease their operational costs.
The fact that this technology significantly lessens the dependence on IT professionals is the primary reason for the low-code development platform market growth. Various departments within a firm need applications for smooth operations, but the delay in receiving the apps hampers productivity. To deal with this, companies hire IT professionals, who leverage platform as a service (PaaS) and programming languages, such as .NET and Java.
Explore Full Report With TOC: www.psmarketresearch.com/market-analysis/low-code-development-platform-market
Swift and cost-effective app and software development has become especially important in this era of digital transformation. To stay ahead in the competition, companies across various industries are digitizing their business processes. The World Economic Forum had claimed that in 2019, the total spending on digital transformation across the world would increase by 18% from 2018, to reach $1.2 trillion. Thus, digitization is a major market growth driver, as the technology allows for faster creation of software than traditional programming methods.
In 2018, North America was the largest low-code development platform market, owing to the presence of a large number of computer and mobile app developers, deep internet penetration, and high disposable income. During the forecast period, the market is predicted to observe the fastest growth in Asia-Pacific (APAC), because of the increasing smartphone and internet penetration, expanding IT service industry, and rapid economic growth. The increasing usage of mobile phones is raising the demand for applications in the region.
Thus, with the rising smartphone and internet usage, the demand for cost-effective app creation would continue surging.
Toll-free: +1-888-778-7886 (USA/Canada)
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Low-Code Development Platform Market Latest Growth, Trends, Analysis And Forecast by 2024 here
News-ID: 1897714 • Views: 801
More Releases from P&S Intelligence
Data Center Colocation Market | Covid19 Impact Analysis | Business Outlook, Grow …
Large enterprises are currently the larger users of colocation services, on account of their desire to decrease their operational expenses and increase focus on their more-critical areas. This is being done by giving the responsibility to house their expensive information technology (IT) hardware, such as routers, modems, and servers, to data centers, which also let them store huge amounts of data. Get the Sample Copy of this Report at:https://www.psmarketresearch.com/market-analysis/data-center-colocation-market/report-sample In addition, as
How Surging Interaction Through Enterprise Messaging Applications Driving Key Ma …
In the wake of the rising cyber attacks, adoption of cloud technologies, and focus on digital transformation, the need to meet the associated regulatory compliance is increasing around the world. Health Insurance Portability and Accountability Act (HIPAA), Payment Card Industry Data Security Standard (PCI DSS), General Data Protection Regulation (GDPR), and Federal Information Security Management Act (FISMA) are the various acts and standards which govern cyber security. Get the Sample Copy
Digital Out of Home Market Growth Declines, However COVID-19 Pandemic May Bring …
Digital out of home or DOOH refers to digital media displayed in outdoors that is accessible to the public and used for advertising and marketing purposes. It is displayed via electronic displays in a variety of formats, excluding radio and TV advertising. It consists of digital billboards, out of home (OOH) displays, digital signages, LEDs, and screen technologies. Request Sample Copy of Report : https://www.psmarketresearch.com/market-analysis/digital-out-of-home-market/report-sample The digital out of home market is
Medical Device Outsourcing Market - Future Developments, Trends, and Opportunity …
The healthcare industry is witnessing rapid growth because of the surging prevalence of diseases all across the world. The medical industry does not only deal with drugs and therapy, but medical devices are an important part of it. Attributed to this, the medical devices industry is registering swift growth as well. In 2018, the global medical devices market attained a value of $425.5 billion and is predicted to reach $612.7
More Releases for SME
UK SME Insurance: Distribution Dynamics 2017
Researchmoz added Most up-to-date research on "UK SME Insurance: Distribution Dynamics 2017" to its huge collection of research reports. An insight on the important factors and trends influencing the market. "UK SME Insurance: Distribution Dynamics 2017", looks at how SMEs buy insurance coverage and the reasons behind their purchasing decisions. This report also examines the services SMEs are currently receiving and the additional amenities they would like from their provider going
Micro employer HR software steals SME show
A new modular HR software designed specifically with micro and SME businesses in mind, has stolen the show at its launch at SME Live at the NEC on 16th October. Amity Essentials, from industry leading HR and payroll provider FMP Global, is a flexible HR software, completely free for micro businesses with 10 or less employees, that uses ‘bolt-on’ modules as a business grows, making it both simple and affordable. FMP
UK SME Adoption of Employee Benefits 2017
Recent research and the current scenario as well as future market potential of "UK SME Adoption of Employee Benefits 2017" globally. Summary "UK SME Adoption of Employee Benefits 2017", report highlights the opportunities in offering employee benefits by sizing the number of SMEs in the UK. It discusses the penetration of employee benefits among SMEs and factors affecting this, such as pension auto-enrolment. It explores how employee benefits are purchased, which are
INDIA: Big March for SME
In keeping with recent and ongoing changes in the business landscape, business is focusing on mobility rather than stability, and the service business has evolved accordingly. Globalization is the buzzword as geographic boundaries cease to exist. Business is competing for opportunities in an international arena. Because the world is connected in a single unit, any crisis in one part of the world has repercussions in other parts, too. Small and medium-sized
IndiaMART.com Pushes for Cohesive SME Ecosystem through SME Learning Series
Partners with Smallenterpriseindia.com for the Series Series aims to bring clear understanding of Finance, HR, IT, Communication, Marketing & other business verticals to SMEs Roadshows in Delhi, Ghaziabad, Gurgaon, Bangalore & Vadodara receive huge response New Delhi, 28th May, 2011: Small and Medium Enterprises (SMEs) have been playing a vital role in growth and development of Indian economy. They are credited with generating million of job opportunities every year along with contributing a
IndiaMART.com Plans Massive SME Awareness Campaign
To be launched in 2-3 weeks, campaign's theme centers on boosting awareness amongst SMEs on the need to go online - Educate buyers & suppliers on how they can leverage Internet for 24X7 global presence, cost-effective marketing & B2B matchmaking - Highlight catalyzing role of B2B e-marketplaces like IndiaMART.com in growth of SMEs - Nation-wide drive to be launched across newspapers, magazines, online, radio, electronic & outdoor media New Delhi,