Enterprise Low-Code Applications Platforms Market Top Competitive Landscape Strategy Insights and Analysis Report 2021-2030

Enterprise low-code application platforms enable rapid application development, deployment, execution, and management. It accelerates software development by letting developers work with pre-written code components. Therefore, it requires a very low level of coding knowledge to use the platform, and thus substantially decreases the time and cost required for building the application. As it allows faster application deployment and update, enterprises can meet the regulatory requirements and stay ahead of deadlines by using LCAP. In addition, advanced low-code platforms allow the integration of local data centers with cloud services via API and data sharing.

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Competitive Landscape

The enterprise low-code application platforms market is comprising of various market players such as Salesforce. Appian, Mendix Technology BV, Microsoft, Pegasystems, Zoho Corporation Pvt. Ltd., OutSystems, and Oracle Corporation. Other players operating in this market include ServiceNow, TrackVia, Nintex UK Ltd. and K2. These market players are adopting various joint venture strategies, product launch and planning expansion of business across various regions to maintain their dominance in the enterprise low-code application platforms market. For instance, in June 23, 2021, TrailheaDX, launched a new Salesforce Platform which provides a set of low-code tools for interactive app development and automation.

Moreover, in April 30, 2021, Mendix launched Mendix 9 to provide core low-code principles and a comprehensive platform for intelligent process automation, democratizing access to data resources. In addition, Mendix 9 offers Workflow Editor allowing business users and developers visualize business processes to build workflows incorporating human actions and relevant logics.

Market Dynamics and Trends

Increasing focus towards digital transformation across industries is driving the demand for enterprise low-code application platforms market. Low-code application platform supports rapid application development, one-step deployment, execution, and management using declarative, high-level programming abstractions, such as model-driven and metadata-based programming languages. For instance, on May 6, 2021, Innominds, a software and digital engineering products provider, launched its own low-code platform for software development called iSymphonyTM. The platform provides development environment to create and configure application software through a graphical user interface. Such growing number of innovative product launches is driving the growth of the market. Moreover, increasing need for rapid customization and scalability also acts as a driving force for the LCAP market in developing countries such as China, India, and Brazil. Furthermore, increasing trend of automating the software development process with pre-baked, ready-made components/integrations that significantly speed up application development, contributes towards the growth of the market.

However, there is a lack of skilled software developers, required after the prototyping phase. In addition, these platforms are not fully evolved, which in turn leaves a large number of loopholes for jeopardizing the business. Thus, the implementation of low code development tool, is very limited at present. Also, it offers very limited flexibility owing to its reliance on built-in functionality of the platforms and the plugins. Applications created from enterprise low code application platform also do not have enough security due to the lack of control over the source code. Therefore, these factors are expected to hamper the growth of the market to some extent.

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Geographical Analysis

North America holds the lion share of enterprise low-code application platforms market during the forecast period. This is attributed to increasing demand for enterprise low code application platform in the U.S., Canada and Mexico as it offers reduced deployment time of mobile and web-based applications for expanding customer base. With this growing demand, major market players are launching innovative solutions. For instance, on May 16, 2021, Appian, an U.S. based company launched a new low-code automation platform for enterprises, which provides consistent assessment of automation, bots, data, existing systems, team orchestration, and others. The platform also provides quick solutions to deploy AI-powered applications and make the smooth workflow. Additionally, several market players like Amazon, Appian, Pega, Microsoft, and ServiceNow are working on products and ideas to ease the burden for enterprises.

However, Asia-Pacific is expected to show a steady rise in enterprise low-code application platforms market owing to increasing adoption of low code platform among industry verticals and rapid digitalization in the region. Moreover, rising focus on the development of high-end products and enterprise low-code applications are expected to drive the enterprise low-code application platforms market growth in this region.

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