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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Low-Code Development Platform Market Outlook
The global low-code development platform market attained a value of about USD 33.37 billion in 2023. The market is further expected to grow at a CAGR of 25% during the forecast period of 2024-2032 to reach approximately USD 249.38 billion by 2032.
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Low-Code Development Platform Deployed to Streamline Business Operations Boosting the Market Growth
The low-code development industry is a significant growth contributing segment of the overall IT industry. In the modern era, with technology taking over all business operations, low-code development is being increasingly utilised in particularly small and medium enterprises, owing to characteristics, such as enhanced speed, and low costs involved in the development process. With innovations in technology every day and the scarcity of an established IT network in small businesses, low-code technologies are being deployed to accelerate operations as a means of developing websites or applications for wide reach. This is expected to invigorate the market growth over the forecast period. Furthermore, low-code development software encourages increased business agility by allowing businesses to constantly renovate their applications due to its speedy nature and easy to operate characteristics. Furthermore, the versatility of low-code programming allows developers to access the software from the ease of smartphones or desktops, which further strengthens the industry growth in small enterprises.
Low-Code Development Platform: Market Segmentation
A low-code development platform is a method of providing building blocks to IT users to develop software with minimal coding. It offers a streamlined way to take control of the software development process and can be applied in a variety of end-use industries.
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On the basis of application, the market can be segmented into:
- Web-based
- Mobile-based
- Desktop and Server-based
The market, based on deployment type, can be divided into:
- On-premise
- Cloud
Based on organisation size, the market can be categorised into:
- Small and Medium Enterprises
- Large Enterprises
On the basis of end use, the market segmentations include:
- BFSI
- Retail and E-commerce
- Government and Defence
- Healthcare
- Information Technology
- Energy and Utilities
- Manufacturing
- Others
The EMR report looks into the regional markets of low-code development platform like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
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Deployment of Low-Code Application in the Healthcare Sector to Augment the Market Growth
The healthcare industry around the world is flourishing owing to rapid technological advancements and government investments. A low-code development platform in the healthcare sector is deployed to streamline the data integration process to improve workflow efficiency and provide enhanced patient experience. The utilisation of low-code development cloud technology can significantly help in integrating patient information across various systems, thereby allowing healthcare providers to study the patient history and provide better treatment, thus fostering the industry growth.
In addition, low-code platforms are cost-effective in the sense that these platforms enable non-technical staff to operate the servers by eliminating the need to hire professional help, along with significant reductions in ownership costs. Furthermore, low-code application platforms play a critical role in developing apps to meet the dynamics of technology by building mobile-friendly applications that can assist in virtual consultations while saving hospitalisation costs and provide a secure network for encrypted communication. Hence, the benefits of low-code development technology in the healthcare sector are increasingly augmenting the growth of the market.
Key Industry Players in the Global Low-Code Development Platform Market
The report presents a detailed analysis of the following key players in the global low-code development platform market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.
- Salesforce.com Inc.
- Microsoft Corporation
- Oracle Corporation
- Appian Corporation
- Zoho Corporation
- Others
The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application Type |
|
| Breakup by Deployment Type |
|
| Breakup by Organisation Size |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Low-Code Development Platform Market Report Snapshots
Low-Code Development Platform Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of approximately USD 33.37 billion in 2023.
The market is projected to grow at a CAGR of 25% in the forecast period of 2024-2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 249.38 billion by 2032.
The market is being driven by the advantages of low-code development platforms in providing agility to operations and reducing operating costs and the increasing deployment of low-code development applications in small enterprises to streamline business operations.
Reduced operational costs of low-code development platforms, rising awareness regarding low-code development platforms, and deployment of low-code development platform in the healthcare sector, owing to the requirement of managing a large patient database, are the key trends of the market.
The major regional markets for low-code development platform are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
The significant application types of low-code development platform are web-based, mobile-based, and desktop and server-based.
The leading deployment types include on-premise and cloud.
The major organisation sizes of low-code development platform include small and medium enterprises, and large enterprises.
The significant end uses of low-code development platform are BFSI, retail and e-commerce, government and defence, healthcare, information technology, energy and utilities, and manufacturing, among others.
The key players in the global low-code development platform market are Salesforce.com Inc., Microsoft Corporation, Oracle Corporation, Appian Corporation, and Zoho Corporation, among others.
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