Gmi Research's blog : Low Code Development Platform Market Research Report
Low Code Development Platform Market
Low-Code Development
Platform Market was valued at USD 16,843
Million in 2020 and estimated to grow at 27% CAGR during the forecast period.
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The factor driving the growth of low code Development Platform
market is, the growing need for digitalization.
Moreover, the increasing use of low code development platforms in enabling
users to make applications, which saves them time and money, followed by its ability
to automate processes in the application with inadequate knowledge of coding is
increasing the growth of Global Low Code Development Platform Market.
The on-going Covid-19 Pandemic has boosted
the demand for low code development platforms owing to the traveling
restrictions put in by the Government, which encouraged organizations to
conduct meetings virtually. The on-going Pandemic has also increased companies’
reliance on low code development platform because it helped them to solve the
remote operations related issues with ERP System, which has further increased
the Low Code Development Market
Size.
The growth of low code development market is
hindered because tool kit available are inefficient to resolve customization
issues.
The prominent players operating in the
market are Mendix Tech BV, Quickbase, Pegasystems Inc., AgilePoint, Microsoft,
Oracle, Salesforce.com Inc., Appian, OutSystems, Quickbase, among others.
Application – Segment Analysis
Based on the application, the web-based
segment is anticipated to grow at a faster CAGR over the forecast period attributed
to its use in creating complex applications, it helps in managing daily
activities of employees with relevant work experience.
Industry – Segment Analysis
Based on the industry, the BFSI segment is
expected to grow at a higher CAGR over the forecast period owing to growing
demand for automation in the customer service business operations, which helps
in acquiring and retaining potential customers. The BFSI Segment is expected to
improve its business operations due to continuous innovation and enhancement in
financial services and products.
Region – Segment Analysis
Based on the region, the North American
region is anticipated to grow at a faster CAGR during the forecast period due
to increasing adoption of advanced technologies, The growing number of internet
users along with advancement in mobile and web-based applications in
enterprises, is further increasing the demand for low code development
platforms in this region.
Market Segmentation
Global Low Code Development Platform Market by Component
·
Platform
·
Services
Global Low Code Development Platform Market by Application
·
Web-Based
·
Mobile-Based
·
Desktop & Server-Based
Global Low Code Development Platform Market by Deployment Type
·
On-Premises
·
Cloud
Global Low Code Development Platform Market
by End-Use Vertical
·
BFSI
·
Retail & eCommerce
·
Government & Defense
·
Healthcare
·
Information Technology
·
Energy & Utilities
·
Manufacturing
·
Others
Global Low Code Development Platform Market by Region
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
North America
o
United States of
America
o
Canada
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
About GMI
Research
GMI Research is a market research and
consulting firm which provides market insights and intelligence across 12 major
sectors helping our clients in making effective investment and business
decisions.
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