Press release
Rapid Application Development Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2028
The operational methodology used by rapid application developments is vastly different and progressive as compared to the conventional variants, such as DevOps, waterfall, and agile. Rapid application development offer multipronged benefits, including seamless adaptability, instant system integration, productive user feedback, efficient code generation, and compartmentalization of the system components, which makes it a viable proportion for every company to outperform their business goals. Moreover, vendors in the rapid application development market are enhancing agility and adaptability of their offerings in a bid to stay at the forefront of technological innovations.
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Rapid Application Development Market- Notable Highlights
In 2018, IBM modernized Domino, its exclusive business app platform, that debuted in the year 1989 with roots in the ‘Lotus Notes’ ecosystem. Domino refers to a platform that is multi-faceted and offers seamless app development by making use of rapid application development approach. Via this revamp, IBM has improved mobile application development, analytics, and cloud support, which remain a mainstay for Lotus Notes.
In 2018, HCL Technologies completed the acquisition of specific software businesses of IBM, which included Domino, Lotus Notes, and Tivoli products. The acquisition was for a deal of nearly $1.8 billion and was believed to boost IBM’s revenue mix.
Some of the most prominent competitors operating in the competitive landscape of global rapid application development market include –
IBM
Oracle
AWS Microsoft
Appian
Salesforce
Kony
Zoho Corporation
ServiceNow, Inc.
OutSystems
Mendix
Ninox
Pegasystems
Matsoft
QuickBase
AppSheet
LANSA
Oro
WaveMaker
Radzen
AmpleLogic
K2
FileMaker
Rapid Application Development Market- Multipronged Benefits of Rapid Application Development to Drive Demand
Rapid application development (RAD) prioritizes agility and speed over anything else, enabling IT firms and business practitioners to boost their productivity and enhance business outcomes. In addition, a host of additional benefits offered by rapid application development models are-
Risk Reduction: RAD enables creating as well as sharing workable prototypes for the business to analyze functionality in the early stages of development, which helps in avoiding reiterations and rework.
Enhanced Quality: With prototype & functionality analysis during the early stages of development along with persistent user feedback, RAD ensures high quality of the final application
Fast time-to-market: RAD fuels faster development, which makes it easy for businesses to commercialize their offerings earlier than their peers.
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Rapid Application Development Market- Growing Demand from SMEs for Seamless Application Development Propels Adoption
To meet the evolving end-user requirements, organizations are seeking effective software development solutions to develop products that are highly customer-centric. This, in turn, is fuelling investments in rapid application development (RAD) technologies.
Small and medium-sized enterprises (SMEs) are increasingly resorting to rapid application development platforms for smart development of business applications and enhanced productivity. Rapid application development technologies help with significant savings of resources, time, and cost, which is a key reason bolstering their importance in operational frameworks of SMEs. A primary aspect responsible for high dependence of SMEs on cloud based RAD platforms is their financial considerations. Such particulars are prompting SMEs to switch to cloud based RAD platforms, boosting the overall market growth over the forecast period.
Rapid Application Development Market- Rising Popularity of No-code Development Platforms Boosts Adoption
The rising popularity of no-code development platforms is working in favor of growth of rapid application development market. No-code development platforms, owing to their unmatched scalability and accessibility, are being actively embraced. Instead of employing a developer who has the knowledge of conventional programming languages, a no-code platform offers a visual development map to the rapid application development (RAD) platform.
Competency in terms of making app development highly accessible to a large number of people is one among the key reasons fostering popularity of no-code development platforms. This, in turn, is creating favorable grounds for high-scale adoption of rapid application development in the future.
Rapid Application Development Market Segmentation
By Type, the Rapid Application Development Market has been segmented as-
Low-code development platforms
No-code development platforms
By Component, the Rapid Application Development Market has been segmented as-
Tools
Mobile-based
Web-based
Desktop-based
Server-based
Services
Managed Services
Professional Services
Support and maintenance
Deployment and integration
Consulting
By Business Function, the Rapid Application Development Market has been segmented as-
Sales and Marketing
HR and Operations
Finance
IT
By Deployment Model, the Rapid Application Development Market has been segmented as-
Cloud
On-premises
By Organization Size, the Rapid Application Development Market has been segmented as-
Large Enterprises
Small & Medium-sized Enterprises (SMEs)
By Industry Vertical, the Rapid Application Development Market has been segmented as-
Healthcare
BFSI
Retail
Government
Energy & Utilities
Manufacturing & Automotive
Media & Entertainment
Education
Telecommunications & IT
Others (Transportation, Travel & Tourism, & Logistics)
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