Low-Code Development Platform Market is expected to grow at a CAGR of 29.56% during the forecasted period | Evolve Business Intelligence

As per the study initiated by Evolve Business Intelligence, The global Low-Code Development Platform market size accounted for $12.78 Billion in 2022 growing at a CAGR of 29.56% from 2023 to 2033. A low-code development platform is a software framework that enables the creation of applications with minimal hand-coding and manual programming efforts. It provides a visual interface and pre-built components to facilitate the design, development, and deployment of software applications. With a focus on abstraction and automation, low-code platforms allow users, including those with limited programming experience, to rapidly prototype and build applications by using visual tools, drag-and-drop functionality, and predefined logic. This approach significantly accelerates the development process, reduces the need for traditional coding skills, and enables a broader range of individuals to participate in the software development lifecycle. Low-code development platforms are particularly valuable for organizations aiming to streamline application development, meet business demands quickly, and foster collaboration between business and IT teams.

Request/Download PDF Sample: https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=021584

The Low-Code Development Platform market is primarily driven by the increasing demand for rapid application development solutions, where organizations seek to accelerate the creation of software applications with minimal manual coding, enabling faster innovation and responsiveness to changing business needs. The platform's ability to empower a broader range of users, including those without extensive programming skills, contributes to their widespread adoption, fostering agility and collaboration in the software development process.

Key Players
Some of the major Low-Code Development Platform Market players holding high market shares include Salesforce, Microsoft, Appian, Oracle, and Pegasystems. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Magic Software Enterprises, AgilePoint, OutSystems, Zoho, K2.

Report Description: https://evolvebi.com/report/low-code-development-platform-market-analysis/

Segmental Analysis
Based on Components, the Low-Code Development Platform market is segmented into Platforms and services. The dominance of the Platform segment in the Low-Code Development Platform market is attributed to its comprehensive suite of tools, visual interfaces, and pre-built components, providing users with a versatile and efficient environment for creating applications with minimal manual coding, thereby accelerating the development lifecycle.

Based on Application, the Low-Code Development Platform market is Web-based, Mobile-based, Desktop and Server-based, Others. The Low-Code Development Platform market's projected high CAGR in the Web-based segment is attributed to the increasing adoption of cloud-native, web-based low-code platforms, providing organizations with flexibility, scalability, and collaborative development capabilities for web applications in dynamic business environments.

Based on the Industry, the Low-Code Development Platform market is segmented into BFSI, Retail and eCommerce, Government and Defense, Healthcare, IT, and Others. The BFSI segment's dominance in the Low-Code Development Platform market is attributed to the industry's heightened focus on rapid application delivery, regulatory compliance, and digital transformation, where low-code platforms facilitate agile development, accelerate time-to-market, and support innovation in financial services applications.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

Address
Evolve Business Intelligence
C-218, 2nd floor, M-Cube
Gujarat 396191
India
Email: sales@evolvebi.com
Website: https://evolvebi.com/

About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool - EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from Fortune's global 2000 companies.

This release was published on openPR.