Low-Code Development Platform Market Size Insights and Future Growth Trends: 2024-2031 | Salesforce, Microsoft, Appian oracle, Pegasystems, Magic Software Enterprises

The Low-Code Development Platform Market study by DataM Intelligence offer an in-depth analysis of the market, presenting insightful observations, statistics, historical data, and industry-validated market insights. The report delves into the competitive positioning of key companies, examining factors such as product offerings, pricing strategies, financial health, product portfolios, growth initiatives, and geographical reach.

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What is the projected growth rate (CAGR) of the Global Low-Code Development Platform market from 2024 to 2031, and what is the market value expected to change by 2031?

The Global Low-Code Development Platform Market reached US$ 14.2 billion in 2022 and is expected to reach US$ 107.3 billion by 2031, growing with a CAGR of 28.9% during the forecast period 2024-2031.

A Low-Code Development Platform (LCDP) is a software development environment that allows users to create applications with minimal hand-coding, using visual interfaces and drag-and-drop components. It enables both technical and non-technical users to build, customize, and deploy applications quickly and efficiently. These platforms streamline the development process by automating coding tasks and integrating pre-built functionalities. Low-code platforms are ideal for accelerating digital transformation, reducing development time, and allowing businesses to create custom applications without extensive coding knowledge.

Key Developments:

❁ In October 2023, ESDS Software Solution launched its innovative low-code platform, "Low Code Magic," alongside its dedicated website, lowcodemagic.co.in. Designed to transform application development and automation, the platform enables businesses to create custom applications quickly and efficiently, reducing development time, cutting costs, and boosting productivity with minimal coding effort. ESDS envisions Low Code Magic as a game-changer for industries, enhancing agility and responsiveness in the digital era.

❁ Also in October 2023, Joget Inc., a leader in next-generation enterprise application development, integrated generative AI capabilities into its Joget DX open-source no-code/low-code platform. This significant update is designed to accelerate application development and improve customer engagement across various industries.

❁ In June 2023, Mendix, a subsidiary of Siemens, introduced major updates to its low-code platform, Mendix 10. The updates focus on enhancing DevOps workflows, simplifying application composition, and incorporating artificial intelligence (AI) capabilities.

List of the Key Players in the Low-Code Development Platform Market:

Salesforce, Microsoft, Appian oracle, Pegasystems, Magic Software Enterprises, AgilePoint, OutSystems, Zoho, Quick Base.

Research Process:

Both primary and secondary data sources have been used in the global Low-Code Development Platform Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Low-Code Development Platform Market:

By Component: Platform, Services

By Type: Web-based, Mobile-based, Desktop and Server-based

By Organization: Small and Medium-Sized Enterprises (SMEs), Large Enterprises

By End-User: BFSI, Retail and eCommerce, Government and Defense, Healthcare, IT, Energy and Utilities, Manufacturing, Others

Regional Breakout:

The global Low-Code Development Platform Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

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Regional Analysis:

The global Low-Code Development Platform Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Low-Code Development Platform Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Low-Code Development Platform manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Low-Code Development Platform in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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Frequently Asked Questions

1) What is the expected growth rate of the global market for the forecast period?

2) What are the key driving factors that are responsible to shape the fate of the Low-Code Development Platform market during the forecast period?

3) What will be the overall size of the market during the analysis period?

4) What are the prominent market trends which influence the development of the Low-Code Development Platform market across various regions?

5) Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?

6) What are the challenges and threats that are likely to act as a barrier to the growth of the Low-Code Development Platform market?

7) What are the major opportunities that the companies can get to attain success in the world?

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