About Low-Code Development Platforms Software
Low-code development platform provides GUI to develop software or applications with minimal coding. Increased adoption of automation and digital transformation of business has accelerated the demand for new applications and software that will boost the adoption of low-code development platforms. A Low-code development platform helps to improve business agility and increase the productivity for application development at a reduced cost. The increasing demand for API-based applications and software automation for business processes has led developers to deploy low-code development platform software to create custom applications.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Low-Code Development Platforms Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Mendix (Siemens) (Germany), Salesforce (United States), OutSystems (United States), Appian (United States), ServiceNow (United States), Zoho Corporation (India), Pivotal Software, Inc. (VMware) (United States), WaveMaker (United States), LiveCode (United Kingdom), Pegasystems Inc. (United States), LANSA (United States) and GeneXus (Uruguay) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Low-Code Development Platforms Software market by and Region.
On the basis of geography, the market of Low-Code Development Platforms Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). If we see Market by Vertical, the sub-segment i.e. BFSI will boost the Low-Code Development Platforms Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Small & Medium Enterprises will boost the Low-Code Development Platforms Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operating System, the sub-segment i.e. Android will boost the Low-Code Development Platforms Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
API-based App Developments and Consumerized and Differentiated User Experience
Market Growth Drivers:
Need to Develop New Software Applications Due to Growing Automation of Business Process and Growing Popularity of Low-Code Development Platforms to Reduce Complexity and Improve Productivity of Application Development
Challenges:
The platforms are More Constrained and Have Limited User Interface
Restraints:
Security Limitations as Compared to Standalone Development Technologies
Opportunities:
Increasing Competition Between Companies Led Startups to Adopt Low-Code Development Platform
Market Leaders and their expansionary development strategies
In April 2021, Siemens signed an application to acquire TimeSeries to help customers speed digital transformation and expand the Xcelerator portfolio. TimeSeries is a leading independent software vendor and Mendix partner and has significant expertise in the development of vertical apps. With this acquisition, Siemens will offer a low-code platform and new apps including predictive maintenance, remote inspections, smart warehousing, energy management, and more.
In September 2021, Appian Corporation launched the new version of the Appian Low-Code Automation Platform. The platform provided speed & efficiency in building enterprise applications by enhancing low-code data, complete automation functionality, user interface creation as well as application deployment.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Low-Code Development Platforms Software Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-User Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.