Global Low-Code Development Platform Market, By Component (Platform, Services), Application Type (Web-Based, Mobile-Based, Desktop and Server-Based), Organization Size (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), Industry Vertical (BFSI, Retail and Ecommerce, Government and Defense, Healthcare, IT, Energy and Utilities, Manufacturing, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Low-Code Development Platform Market
The low-code development platform market is expected to witness market growth at a rate of 27.30% in the forecast period of 2021 to 2028. Data Bridge Market Research report on low-code development platform market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in digitization globally is escalating the growth of low-code development platform market.
Low-code development platform (LCDP) refers to an offering of a coding environment which allows the developers with varying levels of expertise to build applications with the use of a dynamic graphical user interface and configuration in conjunction along with model-driven logic. It reduces the need for conventional hand-coded computer programming.
The rise in the digital transformation in the IT and telecom industry acts as one of the major factors driving the growth of low-code development platform market. The increase in use of the solution as a way of facilitating the fast production and high usage functional software that can meet the data needs and the unique process of the enterprise accelerate the low-code development platform market growth. The software developers creating tailored systems to the specific needs of organizations due to the distributed required devices around their employees’ bases by businesses further influence the low-code development platform market. Additionally, emergence of microcomputer revolution, rapid increase in the need for digitization, increase in acceptance of advanced technologies and growth of industries across the globe positively affect the low-code development platform market. Furthermore, rise in need for customization and scalability and increase in demand for robust solutions to maximize the visibility and control over processes extend profitable opportunities to the low-code development platform market players in the forecast period of 2021 to 2028.
On the other hand, dependency on vendor supplied customization and the requirement for legacy software upgradation are the factors expected to obstruct the low-code development platform market growth. Difficulty in the selection of right time and right process to implement automation are projected to challenge the low-code development platform market in the forecast period of 2021-2028.
This low-code development platform market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on low-code development platform market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Low-Code Development Platform Market Scope and Market Size
The low-code development platform market is segmented on the basis of component, application type, organization size and industry vertical. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the low-code development platform market is segmented into platform and services.
- On the basis of application type, the low-code development platform market is segmented into web-based, mobile-based, and desktop and server-based.
- On the basis of organization size, the low-code development platform market is segmented into small and medium-sized enterprises (SMEs) and large enterprises.
- On the basis of industry vertical, the low-code development platform market is segmented into BFSI, retail and ecommerce, government and defense, healthcare, IT, energy and utilities, manufacturing and others. Others are further segmented into education, transportation and logistics and media and entertainment.
Global Low-Code Development Platform Market Country Level Analysis
The low-code development platform market is analyzed and market size, volume information is provided by country, component, application type, organization size and industry vertical as referenced above.
The countries covered in the global low-code development platform market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the low-code development platform market due to the highest penetration of small, medium and large IT companies and large presence of prominent low code development platform providers in the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 because of the rapid digitalization, continuous digital transformation, increasing demand for robust solutions and acceptance of BYOD and enterprise mobility in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Low-Code Development Platform Market Share Analysis
The low-code development platform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the low-code development platform market.
The major players covered in the low-code development platform market report are MICROSOFT, ORACLE, Salesforce.com, inc., Appian, Pegasystems Inc, Magic Software Enterprises, AgilePoint, Inc., OutSystems, Mendix Tech BV, Zoho Corporation Pvt. Ltd, Quickbase, LANSA, Fujitsu RunMyProcess, Netcall, WaveMaker, Inc., K2 Software Inc, TrackVia, Thinkwise, MicroPact, Karnataka Municipal Data Society, PwC among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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