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Low-Code Development Platform Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 150 Pages
SKU # FOB19224288

Description

Low-Code Development Platform Market



Growth Factors of Low-code Development Platform Market

The low-code development platform market size was valued at USD 22.25 billion in 2023, and the market is now projected to grow from USD 28.75 billion in 2024 to USD 264.40 billion by 2032, exhibiting a CAGR of 32.0% during the forecast period of 2023-2030.

The COVID-19 pandemic created significant opportunities on the low-code development platform market growth. During the COVID-19 pandemic, the global market's volatility and instability due to related shut down led to a high demand for remote software development tools worldwide. The pandemic increased the requirement to automate processes and prioritize transformation ideas. It has generated an urgent demand for new online apps and services from private and public sectors.

The low-code development platform market share globally has been contributed due to the growing digital transformation across financial institutions. Through digital transformation, businesses seek to augment service quality and productivity by streamlining workflows. Utilizing low/no-code development, insurance companies can substantially reduce their IT investment costs, fast adaptation to changing environments, and enhance operational efficiency by decreasing skill gaps among employees. It has become indispensable for digital revolution; authorize development teams with greater autonomy and reducing resource expenditures.

The trend is growing demand for low code artificial intelligence to boost market expansion. The low-code artificial intelligence is rising as a transformative concept within AI technology for various applications and software development. Being acquainted with its potential benefits, numerous enterprises are investing in this platform.

Comprehensive Analysis of Low-code Development Platform Market

The low-code development platform market and information & communication technology industry is growing at an exponential rate due to its market segmentation. This market expansion effectively provides a thorough regional assessment considering the dominant supply and demand forces that impact the technology industry. These segmentations are methodically segregated by types of component, deployment, enterprise size, application type, and industry. Similarly, the application types are web & cloud based, mobile based, and desktop based. The component is bifurcated into platform and services. The enterprise size is small & medium enterprises and large enterprises. The deployments are cloud and on-premises. The industries are BFSI, healthcare, education, retail, IT and telecommunication, manufacturing, government, and others.

The North American region is conducive to the global low-code development platform market, leading to a recall of USD 7.58 billion due to early adoption of digital and intelligent technologies and the increasing numbers of SMEs investments in digital initiatives are boosting the platform demand.

The top players in the market play a vital role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players are Appian Corporation (U.S.), Oracle Corporation (U.S.), Salesforce.com, Inc. (U.S.), OutSystems Inc. (U.S.), Microsoft Corporation (U.S.), Mendix Technology BV (Netherlands), Pegasystems Inc. (U.S.), Betty Blocks (Netherlands), ServiceNow Inc. (U.S.), and Zoho Corporation Pvt. Ltd. (India), these market players present a level-playing competitive landscape.

In January 2024, ServiceNow announced a five-year strategic partnership with Visa to reform payment services. The partnership launched ServiceNow Disputes Management, Built with Visa, and a reliable low code platform that acts as a disputes resolution solution for issuers.

Segmentation Table

Global Low-code Development Platform Market Scope

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Unit Value (USD Billion)

Growth Rate CAGR of 32.0% from 2024 to 2032

Segmentation By Component
  • Platform
  • Services
By Deployment
  • On-premises
  • Cloud
By Enterprise Size
  • Large Enterprise
  • SMEs
By Application Type
  • Web & Cloud Based
  • Mobile Based
  • Desktop Based
By Industry
  • BFSI
  • Healthcare
  • Education
  • IT and Telecommunication
  • Media and Entertainment
  • Manufacturing
  • Government
  • Retail
  • Others (Energy and Utilities)
By Region
  • North America (By Component, Deployment, Enterprise Size, Application Type, Industry, and Country)
  • U.S.
  • Canada
  • Mexico
  • South America (By Component, Deployment, Enterprise Size, Application Type, Industry, and Country)
  • Brazil
  • Argentina
  • Rest of South America
  • Europe (By Component, Deployment, Enterprise Size, Application Type, Industry, and Country)
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Benelux
  • Nordics
  • Rest of Europe
  • Middle East & Africa (By Component, Deployment, Enterprise Size, Application Type, Industry, and Country)
  • Turkey
  • Israel
  • GCC
  • North Africa
  • South Africa
  • Rest of the Middle East & Africa
  • Asia Pacific (By Component, Deployment, Enterprise Size, y Application Type, Industry, and Country)
  • China
  • Japan
  • India
  • South Korea
  • ASEAN
  • Oceania
  • Rest of Asia Pacific

Table of Contents

150 Pages
1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of Generative AI
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Low Code Development Platform Key Players Market Share/Ranking, 2023
5. Global Low Code Development Platform Market Size Estimates and Forecasts, By Segments, 2019-2032
5.1. Key Findings
5.2. By Component (USD)
5.2.1. Platform
5.2.2. Services
5.3. By Deployment (USD)
5.3.1. On-premises
5.3.2. Cloud
5.4. By Enterprise Size (USD)
5.4.1. Large Enterprises
5.4.2. SMEs
5.5. By Application Type (USD)
5.5.1. Web & Cloud Based
5.5.2. Mobile Based
5.5.3. Desktop Based
5.6. By Industry (USD)
5.6.1. BFSI
5.6.2. Healthcare
5.6.3. Education
5.6.4. IT and Telecommunication
5.6.5. Media and Entertainment
5.6.6. Manufacturing
5.6.7. Government
5.6.8. Retail
5.6.9. Others
5.7. By Region (USD)
5.7.1. North America
5.7.2. South America
5.7.3. Europe
5.7.4. Middle East & Africa
5.7.5. Asia Pacific
6. North America Low Code Development Platform Market Size Estimates and Forecasts, By Segments, 2019-2032
6.1. Key Findings
6.2. By Component (USD)
6.2.1. Platform
6.2.2. Services
6.3. By Deployment (USD)
6.3.1. On-premises
6.3.2. Cloud
6.4. By Enterprise Size (USD)
6.4.1. Large Enterprises
6.4.2. SMEs
6.5. By Application Type (USD)
6.5.1. Web & Cloud Based
6.5.2. Mobile Based
6.5.3. Desktop Based
6.6. By Industry (USD)
6.6.1. BFSI
6.6.2. Healthcare
6.6.3. Education
6.6.4. IT and Telecommunication
6.6.5. Media and Entertainment
6.6.6. Manufacturing
6.6.7. Government
6.6.8. Retail
6.6.9. Others
6.7. By Country (USD)
6.7.1. United States
6.7.2. Canada
6.7.3. Mexico
7. South America Low Code Development Platform Market Size Estimates and Forecasts, By Segments, 2019-2032
7.1. Key Findings
7.2. By Component (USD)
7.2.1. Platform
7.2.2. Services
7.3. By Deployment (USD)
7.3.1. On-premises
7.3.2. Cloud
7.4. By Enterprise Size (USD)
7.4.1. Large Enterprises
7.4.2. SMEs
7.5. By Application Type (USD)
7.5.1. Web & Cloud Based
7.5.2. Mobile Based
7.5.3. Desktop Based
7.6. By Industry (USD)
7.6.1. BFSI
7.6.2. Healthcare
7.6.3. Education
7.6.4. IT and Telecommunication
7.6.5. Media and Entertainment
7.6.6. Manufacturing
7.6.7. Government
7.6.8. Retail
7.6.9. Others
7.7. By Country (USD)
7.7.1. Brazil
7.7.2. Argentina
7.7.3. Rest of South America
8. Europe Low Code Development Platform Market Size Estimates and Forecasts, By Segments, 2019-2032
8.1. Key Findings
8.2. By Component (USD)
8.2.1. Platform
8.2.2. Services
8.3. By Deployment (USD)
8.3.1. On-premises
8.3.2. Cloud
8.4. By Enterprise Size (USD)
8.4.1. Large Enterprises
8.4.2. SMEs
8.5. By Application Type (USD)
8.5.1. Web & Cloud Based
8.5.2. Mobile Based
8.5.3. Desktop Based
8.6. By Industry (USD)
8.6.1. BFSI
8.6.2. Healthcare
8.6.3. Education
8.6.4. IT and Telecommunication
8.6.5. Media and Entertainment
8.6.6. Manufacturing
8.6.7. Government
8.6.8. Retail
8.6.9. Others
8.7. By Country (USD)
8.7.1. United Kingdom
8.7.2. Germany
8.7.3. France
8.7.4. Italy
8.7.5. Spain
8.7.6. Russia
8.7.7. Benelux
8.7.8. Nordics
8.7.9. Rest of Europe
9. Middle East & Africa Low Code Development Platform Market Size Estimates and Forecasts, By Segments, 2019-2032
9.1. Key Findings
9.2. By Component (USD)
9.2.1. Platform
9.2.2. Services
9.3. By Deployment (USD)
9.3.1. On-premises
9.3.2. Cloud
9.4. By Enterprise Size (USD)
9.4.1. Large Enterprises
9.4.2. SMEs
9.5. By Application Type (USD)
9.5.1. Web & Cloud Based
9.5.2. Mobile Based
9.5.3. Desktop Based
9.6. By Industry (USD)
9.6.1. BFSI
9.6.2. Healthcare
9.6.3. Education
9.6.4. IT and Telecommunication
9.6.5. Media and Entertainment
9.6.6. Manufacturing
9.6.7. Government
9.6.8. Retail
9.6.9. Others
9.7. By Country (USD)
9.7.1. Turkey
9.7.2. Israel
9.7.3. GCC
9.7.4. North Africa
9.7.5. South Africa
9.7.6. Rest of MEA
10. Asia Pacific Low Code Development Platform Market Size Estimates and Forecasts, By Segments, 2019-2032
10.1. Key Findings
10.2. By Component (USD)
10.2.1. Platform
10.2.2. Services
10.3. By Deployment (USD)
10.3.1. On-premises
10.3.2. Cloud
10.4. By Enterprise Size (USD)
10.4.1. Large Enterprises
10.4.2. SMEs
10.5. By Application Type (USD)
10.5.1. Web & Cloud Based
10.5.2. Mobile Based
10.5.3. Desktop Based
10.6. By Industry (USD)
10.6.1. BFSI
10.6.2. Healthcare
10.6.3. Education
10.6.4. IT and Telecommunication
10.6.5. Media and Entertainment
10.6.6. Manufacturing
10.6.7. Government
10.6.8. Retail
10.6.9. Others
10.7. By Country (USD)
10.7.1. China
10.7.2. Japan
10.7.3. India
10.7.4. South Korea
10.7.5. ASEAN
10.7.6. Oceania
10.7.7. Rest of Asia Pacific
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
11.1. Appian Corporation
11.1.1. Overview
11.1.1.1. Key Management
11.1.1.2. Headquarters
11.1.1.3. Offerings/Business Segments
11.1.2. Key Details (Key details are consolidated data and not product/service specific)
11.1.2.1. Employee Size
11.1.2.2. Past and Current Revenue
11.1.2.3. Geographical Share
11.1.2.4. Business Segment Share
11.1.2.5. Recent Developments
11.2. Microsoft Corporation
11.2.1. Overview
11.2.1.1. Key Management
11.2.1.2. Headquarters
11.2.1.3. Offerings/Business Segments
11.2.2. Key Details (Key details are consolidated data and not product/service specific)
11.2.2.1. Employee Size
11.2.2.2. Past and Current Revenue
11.2.2.3. Geographical Share
11.2.2.4. Business Segment Share
11.2.2.5. Recent Developments
11.3. Salesforce.com, Inc.
11.3.1. Overview
11.3.1.1. Key Management
11.3.1.2. Headquarters
11.3.1.3. Offerings/Business Segments
11.3.2. Key Details (Key details are consolidated data and not product/service specific)
11.3.2.1. Employee Size
11.3.2.2. Past and Current Revenue
11.3.2.3. Geographical Share
11.3.2.4. Business Segment Share
11.3.2.5. Recent Developments
11.4. OutSystems Inc.
11.4.1. Overview
11.4.1.1. Key Management
11.4.1.2. Headquarters
11.4.1.3. Offerings/Business Segments
11.4.2. Key Details (Key details are consolidated data and not product/service specific)
11.4.2.1. Employee Size
11.4.2.2. Past and Current Revenue
11.4.2.3. Geographical Share
11.4.2.4. Business Segment Share
11.4.2.5. Recent Developments
11.5. Mendix Technology BV
11.5.1. Overview
11.5.1.1. Key Management
11.5.1.2. Headquarters
11.5.1.3. Offerings/Business Segments
11.5.2. Key Details (Key details are consolidated data and not product/service specific)
11.5.2.1. Employee Size
11.5.2.2. Past and Current Revenue
11.5.2.3. Geographical Share
11.5.2.4. Business Segment Share
11.5.2.5. Recent Developments
11.6. Oracle Corporation
11.6.1. Overview
11.6.1.1. Key Management
11.6.1.2. Headquarters
11.6.1.3. Offerings/Business Segments
11.6.2. Key Details (Key details are consolidated data and not product/service specific)
11.6.2.1. Employee Size
11.6.2.2. Past and Current Revenue
11.6.2.3. Geographical Share
11.6.2.4. Business Segment Share
11.6.2.5. Recent Developments
11.7. Pegasystems Inc.
11.7.1. Overview
11.7.1.1. Key Management
11.7.1.2. Headquarters
11.7.1.3. Offerings/Business Segments
11.7.2. Key Details (Key details are consolidated data and not product/service specific)
11.7.2.1. Employee Size
11.7.2.2. Past and Current Revenue
11.7.2.3. Geographical Share
11.7.2.4. Business Segment Share
11.7.2.5. Recent Developments
11.8. Betty Blocks
11.8.1. Overview
11.8.1.1. Key Management
11.8.1.2. Headquarters
11.8.1.3. Offerings/Business Segments
11.8.2. Key Details (Key details are consolidated data and not product/service specific)
11.8.2.1. Employee Size
11.8.2.2. Past and Current Revenue
11.8.2.3. Geographical Share
11.8.2.4. Business Segment Share
11.8.2.5. Recent Developments
11.9. ServiceNow Inc.
11.9.1. Overview
11.9.1.1. Key Management
11.9.1.2. Headquarters
11.9.1.3. Offerings/Business Segments
11.9.2. Key Details (Key details are consolidated data and not product/service specific)
11.9.2.1. Employee Size
11.9.2.2. Past and Current Revenue
11.9.2.3. Geographical Share
11.9.2.4. Business Segment Share
11.9.2.5. Recent Developments
11.10. Zoho Corporation Pvt. Ltd.
11.10.1. Overview
11.10.1.1. Key Management
11.10.1.2. Headquarters
11.10.1.3. Offerings/Business Segments
11.10.2. Key Details (Key details are consolidated data and not product/service specific)
11.10.2.1. Employee Size
11.10.2.2. Past and Current Revenue
11.10.2.3. Geographical Share
11.10.2.4. Business Segment Share
11.10.2.5. Recent Developments
12. Key Takeaways

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