Low Code Development Platform Market Overview
According to MRFR analysis, the global Low Code Development Platform market is expected to register a CAGR of ~35.1% from 2022 to 2030 and hold a value of over USD 151 million by 2030.
Low code development platforms (LCDP) are software development tools that allow users to create, deploy and manage applications with minimal or no coding. These platforms provide a graphical user interface (GUI) and pre-built templates, allowing developers to create an application by dragging and dropping pre-built components, rather than writing code manually. This makes the process of creating an application faster and more accessible to a wider range of users, including business analysts and citizen developers. The COVID-19 pandemic has had a significant impact on the use of low-code development platforms. As businesses have had to adapt to new challenges and rapidly changing market conditions, the demand for digital solutions has increased dramatically. Low code development platforms have become an important tool for organizations to quickly create and deploy new applications, such as e-commerce platforms, telemedicine apps, and remote work tools.
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Key Players
- Microsoft (US)
- com, Inc. (California)
- Appian (US)
- Pegasystems Inc. (US)
- ServiceNow (California)
The low-code development platform market is a rapidly growing industry that provides tools and software to enable users to create software applications with minimal coding experience. This market has seen significant growth in recent years due to the increasing demand for custom software solutions and the shortage of skilled developers in the industry. Low-code development platforms offer users the ability to build and deploy software applications quickly and efficiently, with a focus on visual interfaces and drag-and-drop functionality. These platforms typically provide pre-built modules and components that can be assembled to create customized applications, reducing the need for coding expertise. The low-code development platform market includes a wide range of vendors, including established enterprise software companies, start-ups, and open-source providers. The market is expected to continue to grow as the demand for custom software solutions increases, and the need for skilled developers remains high.
Regional Analysis
The Asia-Pacific region dominates the market for low-code development platforms and is expected to continue driving the market's growth with increased industrialization and demand for reliable solutions. Furthermore, as digital transformation and organizational mobility become more commonplace, users are increasingly turning to LCDPs to create business applications. Major contributors to the global low code development platform market include China, New Zealand, India, Southeast Asia, Japan, and Australia.
Low Code Development Platform Market Segmentation
The Global Low Code Development Platform market has been segmented into component, deployment, and type.
Based on the component, the market has been segmented into solutions and services.
Based on the deployment, the market has been segmented into on-premise and cloud.
Based on the type, the market has been segmented into general-purpose platforms, database app platforms, process app platforms, request-handling platforms, and others.
By Component:
- Solution
- Service
By Type:
- Construction
- General-Purpose platform
- Database app platform
- Process app platform
- Request handling platform
By Deployment:
- On-premises
· Cloud
By Organization Size:
- Small and Medium
- Large
By Vertical:
- Retail and E-Commerce
- Healthcare
- Media Entertainment
- BFSI
- IT Telecommunication
- Government
- Others
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Key Players
Some of the key market players are Microsoft, Salesforce, Mendix Technology BV, Appian, OutSystems, Pegasystems Inc, ServiceNow, AgilePoint, Caspio, Nintex UK Ltd, Netcall, Zoho Corporation Pvt. Ltd, Simplifier AG, WaveMaker, Inc.
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