Low Code Development Platform Market worth US$ 160.90 billion by 2030 with a CAGR of 26.0 %
Low Code Development Platforms Market accounted for US$ 16.3 billion in 2020 and is estimated to be US$ 160.90 billion by 2030 and is anticipated to register a CAGR of 26.0%. Global low code development platform market is driven by popularity of these platforms. Since, companies can carry out the development of applications by using low code development platforms without huge investment in hiring development teams.
The report “Global Low Code Development Platform Market, By Component (Solution and Services (Professional and Managed)), By Application Type (Web Based and Mobile (IOS, Android, and Windows)), By Deployment Model (Cloud, and On- Premises), By Organization Size (Small and Medium, and Large Enterprises), By Vertical (Banking, Financial Services, and Insurance, Government, Healthcare and Life Sciences, Education, Media and Entertainment, Retail and Ecommerce, Manufacturing, Telecom and IT, Energy and Utilities, and Others) and Region - Global Forecast to 2030”
Key Highlights:
· In March 2019, Appian announced the next release of its low code platform, making it easier than ever to build powerful enterprise applications up to 20x faster. The new version accelerates development and expands low-code/no-code platform capabilities in a number of key areas, including integration, robotic process automation (RPA), interface design, enterprise mobility, and customer engagement.
Key Market Insights from the report:
The global low code development platforms market accounted for US$ 16.3 billion in 2020 and is estimated to be US$ 160.90 billion by 2030 and is anticipated to register a CAGR of 26.0%. The market report has been segmented on the basis of component, application type, deployment model, organization size, vertical, and region
· By component, the global low code development platform market is segmented into solution and services.
· By application type, the global low code development platform market is categorized into web based and mobile.
· By deployment model, the global low code development platform market is segmented into cloud and on premises.
· By organization size, the global low code development platform market is segmented into small and medium, and large enterprises.
· By vertical, the global low code development platform market is segmented into banking, financial services, and insurance, government, healthcare and life sciences, education, media and entertainment, retail and ecommerce, manufacturing, telecom and it, energy and utilities, and others.
· By region, North America is estimated to account highest revenue share in global low code development platform over the forecast period, owing to the presence of large number of low code development platform providers in this region.
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The prominent player operating in the global low code development platform market includes, Bizagi, Appian, K2 Solution Inc., Salesforce.com, Inc., Caspio, Inc., MatsSoft Inc., AgilePoint, Inc. Mendix, ServiceNow and OutSystems.
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