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Low Code Development Platform Market

RA00243

Low Code Development Platform Market Report by Offering (General Purpose, Mobile-first App, Request Handling, Database App, Process App), Deployment Type (On-premise, Cloud-based), Enterprise Size (Large, Medium and Low), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2024.

RA00243

Pages: NA

Jun 2020

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Impact of covid-19 on Low Code Development Platform Market

With low code development platforms, many organisations can create web and mobile applications quickly using simple drag and drop components and model logic graphical user interface.  In this manner, it guarantees the digitization of business firms. Moreover, it supports both a non-technical developer and a technical coder to code without the tedious processes. When compared to the conventional methods, these platforms build applications in a fraction of time. A vast variety of apps can be created, ranging from upgrading legacy to IoT enabled smart applications.

Low Code Development Platform Market Analysis:

Aggressive Use Of Mobile Phones And Developments In Artificial Intelligence Are Driving The Low Code Development Platform Market.

Artificial intelligence is turning into a significant piece of advanced change as it offers the capacity to anticipate the patterns, empowering associations to utilize this prescient examination to settle on the better choices. A low code development platform with AI capacities could improve AI-based applications for different business forms with a straightforward, instinctive, and available errand. This could create many lucrative opportunities for players in the low code development platform. Rising web infiltration, expansion of cell phones, and developing requirements for web and mobile applications for business firms are the
key factors that drive the markets across the globe.

The restraints expected to slow down the development of low code development platform market are customization and platform related issues.

There are restraints for the growth of low code development platform market such as customization and platform-related weaknesses. They are anticipated to limit the development of the low code development platform market in the estimated period. The toolkits accessible in the market are not adequate enough to analyze and resolve the customization issues in the applications. These tough conditions are probably going to restrict market development for the low code development platforms.

Due to progressions in technology, Artificial Intelligence (AI) is turning out into a digital opportunity as it gives the capacity to anticipate patterns to the companies for settling on informed choices. Ascribed to this, different organizations in the area are deploying low code development platform solutions with Artificial Intelligence capacities. While the use of AI in any of the business procedures, it is viewed as an asset. Low code solutions incorporated with AI are fit for making the advancement of AI-based applications for various business forms a simple task and accessible.

Low Code Development Platform, by Enterprise Size:

The large enterprise segment is the major revenue generator and will continue to show demand in the forecast period.

The large enterprise segment is predicted to have a maximum share in the forecasted period. Organizations like Genpact Limited and Yahoo Inc. have just embraced low code development platform to expand their work proficiency. SME segment is anticipated to enrol quicker development, during the forecast period. This is because of the tendency of the cloud-based low code development platform to limit assets and cost obstruction for application advancement.

Low Code Development Platform, by Deployment Type:

Cloud-based models are predicted to have the highest share in the estimated period.

Cloud-based deployment type held a bigger share in the overall market in the year 2018 and is anticipated to observe faster development during the projected timeframe as most of the market players are offering low code development platform over cloud. Moreover, cloud-based deployment offers expanded adaptability, day in and day out help, and rapid and upgraded board capacities for application, which is predicted to boost the segment in the forecast period. 

Low Code Development Platform, by Offering:

The solution segment is predicted to have a larger investment opportunity in the estimated period.

The solution segment is predicted to have the maximum share of the overall market in 2018, ascribed to the expanding appropriation of low code deployment platform over all verticals to lessen the use of IT for the long haul. Besides, because of developing interest in combination and usage, the service segment is relied upon to show quicker development during the estimated period. Moreover, the expanding interest for specialized ability and convenient up-gradation of the platform is predicted to boost the segment.

Low code Development Platform, by Region:

North America is expected to show a higher market opportunity in the forecasted period.

North America region market is predicted to have the maximum market share in the forecast period. North America has noticeable market players conveying propelled solutions for all the end users. Attributable to their solid economies, the US and Canada are relied upon to be significant supporters of the development of the low code development platform market. In addition, the geological nearness, vital ventures, associations, and huge research and development (R&D) exercises are adding to the weighty arrangements of low code development platform market arrangements. Key players, for instance, Salesforce, Microsoft, Appian, and Oracle, offer upgraded low code development platforms and administrations to oblige the requirements of clients. Such factors are required to fuel the development of the worldwide low code development platform market in this region. 

Asia Pacific region had seen a progressed and dynamic reception of new advancements in technology. This region includes significant economies, namely, China, Japan, Australia, and New Zealand, which rely upon to enlist high development rates in the low code development platform market. Industrial sectors, for instance, government and defence, information technology (IT), medicinal services, assembling, retail and e-commerce, banking, financial services, and insurance (BFSI), are relied upon to incorporate low code development platform solutions at the most significant rate in this region.

Key players in Low code development platform market:

The low code development platform market is divided among many players. Salesforce, Microsoft, Appian, Oracle, Pegasystems, Magic Software Enterprises, AgilePoint, OutSystems, Zoho, Quick Base, Fujitsu RunMyProcess, Netcall, WaveMaker, LANSA, and K2 are adopting various new strategies. The strategies include mergers and acquisitions, associations, item dispatches, customer wins, geographic extension, and office development to increase a serious edge in the market.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2024

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Offering

  • General purpose
  • Mobile first app
  • Database app
  • Process app
  • Request handling

  Segmentation by Deployment type

  • On Premise
  • Cloud Based

  Segmentation by Enterprise size

  • Small
  • Medium
  • Large

  Key Countries Covered

U.S, Canada, Germany, France, U.K, Italy, Spain, Japan, India, China, South Korea, Brazil, Mexico, U.A.E, Turkey, South Africa.

  Key Companies Profiled

  • Salesforce
  • Microsoft
  • Appian
  • Oracle
  • Pegasystems
  • Magic Software Enterprises
  • AgilePoint
  • OutSystems
  • Zoho

 


FREQUENTLY ASKED QUESTIONS?
 

A. Salesforce and Microsoft are the major key players in the low code development platform market.

A. The North American region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Mergers and acquisitions, associations, item dispatches, customer wins, geographic extension, and office development are the key strategies opted by the operating companies in this market.

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