Low Code Development Platform Market
Low Code Development Platform Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Low Code Development Platform Market is segmented by Application, Deployment, Organization size, End -Use, and by Region. KDMI analyst foresees market revenue to cross USD 53.80 Billion by 2032 by growing with a CAGR of 23.6% during 2024-2032.
Low Code Development Platform Market Highlights
The global low code development platform market is expected to cross a value of USD 53.80 billion by the end of 2032. The market was valued at USD 10.48 billion in 2023 and is expected to expand at a CAGR of 23.6% between 2024-2032.
- Over the mid-term, the rise in need for digitalization and maturity of agile DevOps practices is the primary factor anticipated to drive the global low code development platform market.
- The limited customization and flexibility of low code development platform is a major factor to challenge the market growth.
- The North America low code development platform market is projected to dominate the global market
Low Code Development Platform Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 10.48 Billion |
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Forecast Year |
2024-2032 |
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Forecast Year Market Size |
USD 53.80 Billion |
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CAGR Value |
23.6% |
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Low Code Development Platform Market Key Trends/Major Growth Drivers |
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Restraint Factors |
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Low Code Development Platform Market Segmentation |
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Low Code Development Platform Market Key Players |
Appian, Creatio, LANSA, Mendix Technology BV, Microsoft, Oracle, OutSystems, Pegasystems Inc., Quickbase, Salesforce, Inc., ServiceNow, Zoho Corporation Pvt. Ltd., and others. |
Low Code Development Platform Market Outlook
A low code development platform is a software tool or framework that enables users to build applications with minimal manual coding. These platforms provide visual interfaces, drag-and-drop components, and pre-built templates, allowing developers to create custom applications rapidly and with reduced complexity compared to traditional software development methods.
According to our experts at KD Market Insights, the rise in need for digitalization and maturity of agile DevOps practices is one of the primary factors associated with the growth of the global low code development platform market. Businesses across various industries are increasingly seeking ways to accelerate software development cycles to meet rapidly changing market demands. Low code development platforms offer a solution by enabling faster application development through visual interfaces and pre-built components, which is expected to drive the market growth. Appian, Creatio, and LANSA are some of the significant parties in the global market for low code development platform.
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Low Code Development Platform Market Drivers – Analyst’s Observation
According to the analysts at KD Market Insights, some key growth drivers for the global low code development platform market are:
- Growing Shortage of Traditional Software Developers: Businesses around the world are nowadays facing a shortage of conventional software developers those who have the skills to meet the demand for custom applications. By utilizing low code development platforms, citizen developers, business analysts and other non-technical users can easily create applications, without having any extensive coding knowledge. This, as a result, helps businesses to address the talent gap issues and also enhance their operational efficiency. Such a factor is therefore expected to drive the market growth in the coming years.
- Increasing Integrative Capabilities of Low Code Development Platform: Modern day low code development platforms are having integrative capabilities, and hence, have support for emerging technologies, such as artificial intelligence (AI), internet of things (IoT), and machine learning (ML) among others. These platforms offer built-in connectors, APIs, and templates for integrating with AI/ML models, IoT devices, and other advanced technologies, enabling developers to build intelligent and connected applications. Such a factor is therefore predicted to drive the growth of the market in the coming years.
Which Probable Factors Could Hamper the Growing Low Code Development Platform Market Trend?
As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of low code development platform are:
- Limited Customization and Flexibility of Low Code Development Platform: Low code platforms prioritize ease of use and rapid development, often at the expense of flexibility and customization options. Organizations with highly specialized or unique requirements may find the capabilities of low code platforms insufficient to meet their needs, which is expected to lower the demand for these platforms, and in turn, hampering the market growth in the coming years.
- Growing Concerns for Security and Compliance: Security vulnerabilities and compliance risks associated with low code development platforms pose significant concerns for organizations, particularly in industries with strict regulatory requirements such as healthcare, finance, and government. Lack of control over underlying code, data privacy issues, and vulnerabilities in third-party integrations is therefore predicted to hamper the adoption of these platforms.
How is the Global Low Code Development Platform Market Segmented?
Our experts at KD Market Insights have segmented the global low code development platform market as:
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By Application |
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By Deployment |
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By Organization |
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By End-Use |
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By Region |
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What are the Probable Factors Influencing the North America Low Code Development Platform Market Forecast?
The North America low code development platform market is majorly driven by the surge in embracement among businesses for digital transformation to modernize their operations, drive innovation, as well as improve customer experiences. In addition to this, the region has been witnessing a shortage of skilled software developers, which is also expected to create opportunities for market growth. Besides this, the increasing emphasis on agile development and DevOps practices among businesses is also projected to add to the market growth in the coming years.
As per our analysts at KD Market Insights, the following five players lead the North America low code development platform market growth:
- Microsoft Corporation (Power Apps)
- Salesforce.com, Inc. (Salesforce Lightning Platform)
- Google LLC (Google App Maker)
- Mendix (a Siemens Business)
- OutSystems
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Key Countries to Watch for in North America Low Code Development Platform Market |
Key Insights |
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United States Low Code Development Platform Market to Register the Largest Regional Market Share in 2032 |
USD 15.1 Billion |
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Canada Low Code Development Platform Market to Grow with the Highest CAGR During 2024-2032 |
24.2% |
Which Key Players Top the Global Low Code Development Platform Market Share?
As per our analysts at KD Market Insights, the competitive landscape of global low code development platform market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with low code development platform market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global low code development platform market share:
- Appian
- Creatio
- LANSA
- Mendix Technology BV
- Microsoft
- Oracle
- OutSystems
- Pegasystems Inc.
- Quickbase
- Salesforce, Inc.
- ServiceNow
- Zoho Corporation Pvt. Ltd.
What are the Recent Developments Observed in the Low Code Development Platform Market?
Over the years, the experts at KD Market Insights have been observing the recent developments associated with global low code development platform market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.
For instance, Deloitte shared that it has entered into a strategic alliance with Appian for modernizing mission systems for its clients within commercial, federal civilian, defense, and state and local government agencies.
Further, Appian announced that it has launched its new version of low-code automation platform. The new version delivers material business impact with unified, flexible, and fast enterprise automation.
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- Publication date: 5th April 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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