Low-Code Development Platform Market Scope
A low-code development platform (LCDP) is software that provides a development environment for creating application software through graphical user interfaces and configurations instead of traditional hand-coded computer programming. A low-code model enables developers with different levels of experience to build applications using a visual user interface combined with model-driven logic. Such platforms can create fully operational applications or require additional coding for certain situations. Low-code development platforms reduce the scope of traditional hand-coding and enable accelerated delivery of business applications. A common advantage is that a wider range of people can contribute to the development of the application - not just those with formal programming skills. LCDPs can also reduce initial setup, training, deployment, and maintenance costs.
Attributes | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Salesforce (United States), Microsoft (United States), Appian (United States), Oracle (United States), Pegasystems (United States), Magic Software Enterprises (United States), AgilePoint (United States), OutSystems (United States), Zoho (India), Quick Base (United States), LANSA (United States), Fujitsu RunMyProcess (France) and Netcall (United Kingdom) |
CAGR | % |
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Low-Code Development Platform market throughout the predicted period.
Salesforce (United States), Microsoft (United States), Appian (United States), Oracle (United States), Pegasystems (United States), Magic Software Enterprises (United States), AgilePoint (United States), OutSystems (United States), Zoho (India), Quick Base (United States), LANSA (United States), Fujitsu RunMyProcess (France) and Netcall (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are WaveMaker (United States) and K2 (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Low-Code Development Platform market by Type , by Application (Large Size Enterprises and Small-Medium Size Enterprises) and Region with country level break-up.
On the basis of geography, the market of Low-Code Development Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In February 2020, Salesforce acquired Evergage, a cloud-based personalization and customer data platform
In March 2020, Appian launched the latest version of the Appian Low-code Automation Platform. The new version delivers material business impact with unified, flexible, and fast enterprise automation
Influencing Trend:
Introduction of New and Improved Financial Products and Services to Enhance Its Business Operations
Market Growth Drivers:
The Increasing Need Of Digitalization and Maturity of Agile DevOps Practices and Growing Implementation of Low-Code Development Platform and Services So As To Improve the Automation in the Customer Service Business Functions
Challenges:
Lack of Skilled IT Professionals
Restraints:
Rising Concerns for Cyber Attacks
Opportunities:
Emerging Regions Offers Several Untapped and Unexplored Opportunities in the Low-Code Development Platform Market
Key Target Audience
Providers of Low-Code Development Platform, Downstream Vendors, Private Research Institutes, Market Research Organizations and Others