Press release
Low Code Development Platform Market Forecast 2023-2032 - Market Size, Drivers, Trends, And Competitors
Low Code Development Platform Market
The Business Research Company's Low Code Development Platform Global Market Report 2023 identifies increase in demand as the major driver for the Low Code Development Platform market's growth in the forecast period. Low code is a coding-based software that allows business unit optimized business processes users to create and manage applications quickly with less manual coding.
The global low-code development platform market size grew from $25.2 billion in 2022 to $32.67 billion in 2023, at a compound annual growth rate (CAGR) of 29.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The low-code development platform market size is expected to grow to $92.09 billion in 2027 at a CAGR of 29.6%.
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Major competitors in the Low Code Development Platform market are AgilePoint, Appian Corporation, Caspio Inc., Fujitsu RunMyProcess, LANSA, Magic Software Enterprises Ltd., MatsSoft Limited.
A key trend in the Low Code Development Platform market includes technological advancements. Integration of AI provides an opportunity to use a low-code development platforms in various applications, such as solving complex functions, detecting content using keywords or colors, and inserting information in Low Code Development Platforms. Artificial intelligence is used to engineer a low-code development platform to integrate legacy systems by eliminating technical complexity. For instance, in May 2021, Zoho Corporation, an Indian web-based business tools company, launched Qntrl, which provides workflow solutions targeted at closing the growing gap in process management for contemporary, complicated processes that necessitate close collaboration among various stakeholders.
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https://www.thebusinessresearchcompany.com/report/low-code-development-platform-global-market-report
The Low Code Development Platform market is segmented -
• By Component: Platform, Services
• By Application: Web-Based, Mobile-Based, Desktop And Server-Based
• By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
• By Industry: Banking, Financial Services, And Insurance (BFSI), Retail And eCommerce, Government And Defense, Healthcare, IT, Energy And Utilities, Manufacturing
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Low Code Development Platform market.
The Business Research Company's "Global Low Code Development Platform Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Low Code Development Platform Market Include:
1. Executive Summary
2. Low Code Development Platform Market Characteristics
3. Low Code Development Platform Market Trends And Strategies
4. Low Code Development Platform Market - Macro Economic Scenario
5. Low Code Development Platform Market Size And Growth
……………………………………………………………
26. Africa Low Code Development Platform Market
27. Low Code Development Platform Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Low Code Development Platform Market
29. Low Code Development Platform Market Future Outlook and Potential Analysis
30. Appendix
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