Low-Code Development Platform Market 2024 Future Trends, Scope, Industry Analysis And Forecast To 2033

"The new report published by The Business Research Company, titled ""Low-Code Development Platform Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the low-code development platform market size has grown exponentially in recent years. It will grow from $31.54 billion in 2023 to $40.41 billion in 2024 at a compound annual growth rate (CAGR) of 28.1%. The low-code development platform market size is expected to see exponential growth in the next few years. It will grow to $116.91 billion in 2028 at a compound annual growth rate (CAGR) of 30.4%.

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The Surging Demand For Applications For Business Organizations Drives The Low-Code Development Platforms
The increase in demand for applications for business organizations is expected to propel the growth of the low-code development platform market over the coming years. 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. According to the bureau of labor statistics, a US-based department of labor indicated there will be a shortage of engineers by 2026 by 1.2 million. Moreover, only 39.6% of candidates for IT job opportunities fulfill all of the employer's standards. This will create a demand for low code platforms where tasks can be completed automatically with precision.

AI-Enhanced Low-Code Development Shaping The Future Of Business Solutions
Technological advancements are shaping the low-code development platform market. 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 templates. 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. It uses the technology of low-code or no-code to fulfil these tasks, along with artificial intelligence and machine learning.

The low-code development platform market covered in this report is segmented -

1) By Component: Platform, Services
2) By Application: Web-Based, Mobile-Based, Desktop And Server-Based
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Industry: Banking, Financial Services, And Insurance (BFSI), Retail And eCommerce, Government And Defense, Healthcare, IT, Energy And Utilities, Manufacturing

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Major companies operating in the low-code development platform market report are AgilePoint Inc., Appian Corporation, Caspio Inc., Fujitsu RunMyProcess Inc., Nintex Software Inc., K2 Software Inc., LANSA Inc., Magic Software Enterprises Ltd., MatsSoft Limited, Mendix Technology Inc., Microsoft Corporation, Netcall Ltd., Oracle Corporation, OutSystems Inc., Pegasystems Inc., QuickBase Inc., Salesforce. com Inc., ServiceNow Inc., WaveMaker Inc., Zoho Corporation Pvt. Ltd., Alphabet Inc., Google LLC, TrackVia Inc., Bizagi Process Automation Inc., Boomi Inc., Bubble Group Inc., DronaHQ (Deltecs InfoTech Pvt. Ltd. ), G Suite (UMS Tech Labs. ), HCL Domino, Intuit QuickBase, KiSSFLOW Inc.

Contents of the report:
1. Executive Summary
2. Low-Code Development Platform Market Report Structure
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
…..
27. Low-Code Development Platform Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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