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Microsoft, Salesforce.com, Mendix Technology BV, Appian, OutSystems, Pegasystems Inc Simplifier AG, WaveMaker, Inc. and Skyve.

ISLE OF MAN, ISLE OF MAN, January 23, 2023 /EINPresswire.com/ -- Low Code Development Platform Market Value and CAGR

Low-code development platforms are a type of software that allows developers to create applications with graphical user interfaces and minimal code. These platforms are intended to make it easier for non-developers to build and deploy applications, such as business analysts and IT professionals. The market for low-code development platforms is expected to expand significantly over the next few years, with a compound annual growth rate (CAGR) of around 19% between 2019 and 2026.

The market for low-code development platforms is expected to expand significantly over the next few years, with a compound annual growth rate (CAGR) of around 19% between 2019 and 2026. The market for low-code development platforms was worth $10.12 billion in 2019 and is expected to grow to $45.5 billion by 2026.

Low Code Development Platform Market Growth Drivers and Risks

There are several drivers that are contributing to the growth of the low-code development platform market: Increasing demand for digital transformation: Many organizations are looking to use low-code platforms to quickly develop and deploy custom applications as part of their digital transformation efforts. Shortage of skilled developers: There is a shortage of skilled developers in the market, which is making it difficult for organizations to find the resources they need to build custom applications. Low-code platforms provide a way for non-developers to build applications, helping organizations to overcome this challenge.

There are also a few risks that could potentially impact the growth of the low-code development platform market: Security concerns: Some organizations may be hesitant to use low-code platforms due to concerns about security vulnerabilities. Limited flexibility: While low-code platforms allow for rapid development, they may not be as flexible as traditional development methods, which could limit their use in certain situations.

Low Code Development Platform Market Keyplayers

The global market for low code development platforms include, ServiceNow, AgilePoint, Caspio, Nintex UK Ltd, Netcall, Zoho Corporation Pvt. Ltd., Microsoft, Salesforce.com, Mendix Technology BV, Appian, OutSystems, Pegasystems Inc Simplifier AG, WaveMaker, Inc. and Skyve.

Check out the detailed TOC, Tables, and Figures with Charts for exclusive data, information, vital statistics, trends, and competitive landscape details: https://douglasinsights.com/low-code-development-platform-market

Low Code Development Platform Market Segmentations

By Deployment
• On-premises
• cloud

Based on type
• Universally useful platform
• Data set application platform
• Process application platform
• Demand handling platform
• Others

By Organization Size
• Little
• Medium
• Huge

By Vertical
• Retail and online business
• BFSI, IT and telecom
• Medical services
• Media and diversion
• Government
• Others

Reasons Why You Should Buy This Report

• The Low Code Development Platform Market report is a compilation of data from different sources and has been put together in a way that makes it easy for the reader to understand.
• It covers a wide range of topics, including Low Code Development Platform Market current trends, market size, and forecasted growth.
• The Low Code Development Platform Market report provides valuable insights that can help you make informed decisions about your business. The data is accurate and up-to-date, so you can trust the information presented.
• This Low Code Development Platform Market report is an excellent resource for business owners who are looking to gain an understanding of the market landscape and potential opportunities.
• It will help you identify growth sectors and predict future trends of Low Code Development Platform Market

Table of content

1 EXECUTIVE SUMMARY 26
1.1 MARKET ATTRACTIVENESS ANALYSIS 27

2 MARKET INTRODUCTION 28
2.1 DEFINITION 28
2.2 SCOPE OF THE STUDY 28
2.3 RESEARCH OBJECTIVE 28
2.4 MARKET STRUCTURE 29

3 RESEARCH METHODOLOGY 30

4 MARKET DYNAMICS 36
4.1 INTRODUCTION 36
4.2 DRIVERS 37
4.2.1 DIGITAL BUSINESS ACCELERATION DRIVING APPLICATION DELIVERY 37
4.2.2 ELIMINATION OF GAPS IN THE REQUIRED IT SKILLS 37
4.2.3 INCREASING NUMBER OF APPLICATION PROGRAMMING INTERFACE (API) OFFERINGS BY THE SOLUTION VENDORS 38
4.2.4 DRIVERS IMPACT ANALYSIS 39
4.3 RESTRAINTS 39
4.3.1 LACK OF VISIBILITY 39
4.3.2 NO DATA OVERSIGHT 40
4.3.3 RESTRAINT IMPACT ANALYSIS 40
4.4 OPPORTUNITIES 40
4.4.1 DIGITIZATION IN THE IT INDUSTRY 40
4.4.2 SAAS AND HYPER-AUTOMATION 41
4.5 CHALLENGES (BY REGION) 41
4.5.1 REQUIREMENT OF DEVELOPERS BEYOND SIMPLE USE CASES 41
4.5.2 REQUIREMENT OF EXTENSIVE TRAINING 41
4.6 COVID-19 IMPACT ANALYSIS 42
4.6.1 SURGE IN REMOTE DEVELOPMENT DURING THE PANDEMIC 42
4.6.2 IMPACT ON IT EXPENDITURE AMONG ENTERPRISES 42
4.6.3 THE CASE FOR LOW-CODE DEVELOPMENT IN THE POST-COVID LANDSCAPE 42

5 MARKET FACTOR ANALYSIS 43
5.1 VALUE CHAIN ANALYSIS 43
5.1.1 SOFTWARE DESIGNERS & DEVELOPERS 43
5.1.2 SYSTEM INTEGRATORS 43
5.1.3 END USERS 44
5.2 PORTER'S FIVE FORCES MODEL 44
5.2.1 THREAT OF NEW ENTRANTS 45
5.2.2 BARGAINING POWER OF SUPPLIERS 45
5.2.3 THREAT OF SUBSTITUTES 45
5.2.4 BARGAINING POWER OF BUYERS 45
5.2.5 INTENSITY OF RIVALRY 45

6 GLOBAL LOW CODE DEVELOPMENT PLATFORM MARKET, BY COMPONENT 46
6.1 OVERVIEW 46
6.1.1 GLOBAL LOW CODE DEVELOPMENT PLATFORM MARKET, BY COMPONENT, 2018–2027 (USD MILLION) 47
6.2 SOLUTION 47
6.2.1 GLOBAL LOW CODE DEVELOPMENT PLATFORM MARKET, BY SOLUTION, 2018–2027 (USD MILLION) 47
6.2.2 MOBILE SOLUTIONS 47
6.2.3 WEB SOLUTIONS 47
6.3 SERVICE 48
6.3.1 GLOBAL LOW CODE DEVELOPMENT PLATFORM MARKET, BY SERVICE, 2018–2027 (USD MILLION) 48
6.3.2 PROFESSIONAL SERVICES 48
6.3.3 MANAGED SERVICES 48
…TOC to be continued…

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