Low-Code Development Platforms Market Supply-Demand, Investment Feasibility and Forecast 2027

The low-code development platform market was valued at USD 7.61 billion in 2021. It is expected to reach USD 36.43 billion by 2027, registering a CAGR of approximately 29.81% during 2022-2027.

The factors such as growing demands to reduce application development costs, increased use of database applications, growth of unemployed developers outside IT and so on. The democratization of the application development market and the growth of shadow IT are some of the significant consequences of using Low-Code Development Platforms. These platforms abstract and automate the application development lifecycle, enabling independent developers to create a diverse set of solutions for processing applications like application software and so on, without incurring significant costs, driving rapid application building. Additionally, increasing application of SaaS and hyper-automated technologies, rising demand for personalized applications, the emergence of young independent programmers and many others are analyzed to influence the growth of the Low-Code Development Platform industry in the coming years.

A low-code development platform is a graphical user interface with basic logic and drag-and-drop functionality. The Low-code development framework is a programming environment that enables users to create software applications with graphical user interfaces and configuration without learning complex programming languages. Users having no advanced knowledge of coding or software development can utilize these easy ways to build software for various reasons, including designing mobile and business applications. Low-code development platforms are a quick and simple way to get started in software development. Professional developers may swiftly develop apps utilizing low-code modular methodologies because they do not have to create code line by line. They also enable non-software experts to build and test applications, such as business analysts, office administrators, small-business owners, and others.

Market Dynamics

The demand for low-code development platforms is likely to rise in the coming years as demand for integration, implementation, and consulting services rises. Furthermore, the need for these services is growing as there is a greater need for low-code platform upgrades, technical understanding, maintenance, and monitoring. In addition, growing digital transformation in the IT sector, and a growing requirement for robust solutions, are prospects for the Low-Code Development Platform market. Nevertheless, the low code development platform market's growth is being hampered by its reliance on vendor-supplied customization.

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Global Low-Code Development Platforms Market: Segmentations

Global Low-Code Development Platforms Market: Major Players
Zoho Creator
Pega
FileMaker
Appian
WaveMaker
Domino
LiveCode
Ninox
Spring Boot
Salesforce
Mendix
Zudy
OutSystems
Visual LANSA
KiSSFLOW

Global Low-Code Development Platforms Market: By Types
Cloud Based
Web Based

Global Low-Code Development Platforms Market: By Applications
Large Enterprises
SMEs

Global Low-Code Development Platforms Market: Regional Analysis
The countries covered in the regional analysis of the Global Low-Code Development Platforms market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter's Five Force Model and SWOT analysis are used to study the global Low-Code Development Platforms market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Low-Code Development Platforms would help in identifying future applications in this market.

Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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