Low Code Development Platform Market Competitive Analysis with Forecast Growth till 2024

The Covid-19 pandemic is predicted to impact the global low code development platforms market in a positive way. The large enterprise segment will garner a considerable amount of the global market share. The cloud-based models is expected to witness high growth rate in the forecast period. The solution segment to be at the forefront during the projected timeframe. The North America region will generate huge investment opportunities in the forecast period. The key players of the market are concentrating on various strategies to sustain in these trying times.

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The sudden eruption of COVID-19 pandemic has offered lucrative opportunities to low code development platform market to grow. The various number of businesses have forcefully shutdown during this pandemic owing to shortage in supply of raw materials and no acceptance of e-commerce technology that somewhere creates problem in connectivity with users, suppliers and others for processing the business. Low code development is a tool that replaces problem of writing code and play a key role in the changing environment. It offers excellent solutions for retailer business, fulfil the requirement of immediate software and helps in optimizing the strategies and business models. After the pandemic, consumers will become more comfortable with online ordering, subscriptions, and delivery. Hence, marketers has to adopt low-code solutions in order to survive and maximize their budgets by testing different online marketing tactics. In the course of this chaos, we are offering complete support to our clients in understanding the influence of COVID-19 on the global low code development platform industry.
Our report consists of:

• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact

According to a recent report published by Research Dive, the global low code development market is expected to garner a healthy revenue of $70.77 billion during the forecast period.
The report segments the global market on the basis of enterprise size, deployment, offerings and regions. This report is a comprehensive analysis of recent drivers, key segments, opportunities, restraints, and major players of the market.

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Factors Affecting the Market Growth

As per the report, rising usage of smartphones and increasing adoption AI techniques in low code development platforms are expected to greatly fuel the growth of the low code development platforms industry, during the forecast period. On the other hand, there are restraints for the growth of low code development platform market such as customization and platform-related weaknesses. They are anticipated to limit the development of the low code development platform market in the estimated period.

Large Enterprise Segment will be the Most Lucrative

The large enterprise segment is predicted to have a maximum share in the forecasted period. Organizations like Genpact Limited and Yahoo Inc. have just embraced low code development platform to expand their work proficiency.

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Cloud-based Models will become the Most Profitable

Cloud-based deployment segment held a massive share in 2018 and is further anticipated to observe faster development during the forecast period as most of the market players are offering low code development platform over cloud.

Solution Segment will Flourish during the Forecast Period

The solution segment is estimated to have the highest market share during the forecast period. The increasing interest for specialized ability and convenient up-gradation of the platform is predicted to enhance the growth of the segment.

North America to Dominate the Market

North America is predicted to earn the maximum market share during the forecast period. The main reason behind the growth is its market players conveying propelled solutions for all the end users. Due to their developed economies, the US and Canada are the significant supporters of the development of the low code development platform market.

Leading Market Players

The leading players of the low code development platform market include
• Microsoft,
• Salesforce,
• Magic Software Enterprises,
• Appian,
• Fujitsu RunMyProcess,
• AgilePoint,
• Oracle,
• Pegasystems,
• OutSystems,
• Zoho,
• WaveMaker,
• Quick Base,
• Netcall,
• K2,
• LANSA

These players are implementing various business strategies like mergers and acquisitions, collaborations & partnerships in order to gain a major market share in the global industry

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This release was published on openPR.