The adoption of the Low Code Development platform is expected to increase at a CAGR of 28.4% during the forecast period. The Low Code Development Platform market size is anticipated to rise from USD 21,363.5 Million in 2023 to USD 259,922.1 Million in 2033.
Digital transformation across a number of industrial verticals continues to be the primary market force driving the use of low-code development platforms. The key value proposition of the low-code development platforms, which includes providing a foundation for digital transformation initiatives, accelerating digital transformation projects, improving operational efficiency, addressing the issues related to the shortage of qualified developers, removing operational bottlenecks, and removing the need for significant customization for legacy systems is what is causing the market to grow across all geographic markets and industry segments.
Despite the fact that low-code solutions are not new, demand for the technology has increased significantly over the past two years as businesses struggled to keep up with stakeholder demands for increased digital transformation.
By delivering business applications more quickly, low-code tools enable businesses to expand their efforts in digital transformation. Low-code tools also significantly shorten the time needed for innovation.
The fact that not all low-code-based tools and platforms interface with every program raises concerns within the industry. Therefore, in order to prevent future complications, the developer and designer must take the limited integration capacity into consideration when developing the product.
| Attribute | Details |
|---|---|
| Low Code Development Platform Market Estimated Size (2023) | USD 21,363.5 Million |
| Low Code Development Platform Market CAGR (2023 to 2033) | 28.4% |
| Low Code Development Platform Market Forecasted Size (2033) | USD 259,922.1 Million |
The adoption of digital solutions by enterprises for streamlining and improving business operations has been accelerated by increasing internet usage, cloud computing, mobile, and other technologies.
Additionally, the need for low-code development platforms is anticipated to rise significantly in the upcoming years due to the growing impact of consumer-originated technologies on organizations and the adoption of DevOps.
Intervention of AI technologies are stimulating market growth
The incorporation of AI is expanding across all industries. Strategically, businesses have emphasized AI in their initiatives to transform business. The idea of low-code artificial intelligence is revolutionary in terms of AI technology for software and application development. The platform attracts investment from many businesses due to its wide application and potential advantages. Businesses can profit from improved data analytics, user experience, cost savings, quick development, and more. As a result, it is projected that the market for low-code development platforms would continue to increase due to the growing trend of low-code AI.
Numerous market opportunities are created by the low-code applications in the healthcare sector
A minimal code development platform is used in the healthcare sector to speed up the data integration process, increase workflow effectiveness, and improve the patient experience. By allowing healthcare professionals to study patient histories and provide better care, low code development cloud technology can greatly help in integrating patient data across several systems, supporting industry growth.
The development of mobile-friendly apps that can support virtual consultations is made easier by low-code application platforms. These platforms also offer a secure network for encrypted communication. As a result, the benefits of low code development technology are hastening the market's growth in the healthcare sector.
By lowering the entrance hurdle for those without a background in programming, low-code, and no-code platforms are revolutionizing the development of apps and software. Users can build specialized solutions for their business needs using a simple interface with drag-and-drop capabilities.
Enterprises employ technologies like robotic process automation (RPA), artificial intelligence (AI), and low-code application platforms to boost productivity, reduce costs, and improve workflow (LCAP). With the latter, staff members can build custom applications that enable data collection, management, and interchange between businesses.
Low-code platforms are becoming an important part of existing web-based platforms in many organizations, allowing them to improve their strategy while reducing cost and complexity. Mendix on IBM Cloud, App Maker on Google Cloud Platforms, and PowerApps on Microsoft are some well-known low-code platforms from major web-based service providers.
According to the analysis, small enterprises account for 26.4% of the low code development platform market.
This can be attributed to rising consumer demand for high-quality digital applications, which puts pressure on small businesses to develop applications quickly and improve time to value. As a result, small enterprises are becoming more interested in low-code development platforms, which enable non-IT employees to create applications quickly and at a low cost. These platforms are typically available as subscription services, allowing them to pay only for the services that they use.
Due to the growing need to digitize services like origination, customer onboarding, self-servicing, and back-office operations, the services segment accounted for a sizable revenue share of over 29.3% in 2021. They are becoming more interested in low-code development platforms in order to enhance customer experiences, cut costs, increase company agility, and shorten time to market.
North America dominates the global low-code development platform market, accounting for nearly 32.6% of revenue in 2021. The significant presence of several prominent regional organizations primarily focused on the development of innovative products and services is driving the market growth. Both the United States and Canada have strong economies and are anticipated to be major contributors to the expansion of the low-code development platform market.
The increased emphasis on BFSI, retail, healthcare, and education for efficient application development is expected to drive growth in Europe. The United Kingdom and Germany are expected to demonstrate potential opportunities for regional business development. Brexit and the Covid outbreak in the United Kingdom are critical market growth considerations.
With the increasing incorporation of low-code platforms in the region, particularly in China, Asia Pacific is expected to record the highest CAGR of more than 26.8%. Several local vendors across all major verticals are utilizing these platforms to speed up application delivery, expand developer task forces, reduce operating costs, and boost innovation.
To keep up with the ever-advancing technologies, industries all over the world are jumping on the digital transformation bandwagon. As more and more people buy and sell on the internet, the e-commerce industry is undergoing a transformation.
While other industries suffered during the 2019 pandemic, e-commerce businesses thrived as people were confined to their homes with only their electronic devices. This has, however, resulted in e-commerce market saturation, with businesses struggling to find a competitive advantage.
E-commerce businesses are constantly looking for ways to increase sales while remaining cost-effective. Low-code and no-code platforms have proven to be useful tools for managing the e-commerce ecosystem on a budget. These technologies are becoming increasingly popular in the digital ecosystem.
The low-code development platform industry is moderately fragmented, with a large number of participants, a considerable legislative framework worldwide, and smaller vendors collectively controlling a big portion of the market. Market players with substantial financial resources are actively engaged in strategic M&A activities, while smaller businesses focus on product innovation methods to increase market share.
Digital Transformation
Recent experiences, particularly those related to the pandemic, show that the demand for new technological solutions is increasing among organizations across industries. To put it another way, digital transformation has become critical. And its primary goal is to enable non-technical people to build apps or websites in a short period of time.
Low-code and no-code tools appear to be the best option for small and medium-sized businesses outside of IT. It is especially relevant for users who want to achieve their business objectives quickly, efficiently, and affordably by utilizing modern technology.
As the application becomes more progressive, a suitable level of technical background will be required. This means that time is required to educate and become acquainted with the low-code software. As a result, there is an increased demand for low-code specialists.
As an example of an application complexification process, consider the SQL language. It was designed to be an approachable solution for everyone to help with database management. However, it evolved into its own programming language over time. A typical user cannot comprehend or write complex SQL queries. They must learn SQL in order to comprehend the database's structure.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 28.4% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | By Deployment, By Solution, By Enterprise Size, By Industry, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East & Africa; Oceania |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Salesforce; Appian; Mendix; Microsoft; Pegasystems; Zoho; OutSystems; Oracle Corporation; ServiceNow; TrackVia; and K2. |
| Customization & Pricing | Available upon Request |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2017 to 2032
Table 2: Global Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 3: Global Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 4: Global Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 5: Global Market Value (US$ Million) Forecast by Industry, 2017 to 2032
Table 6: North America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 7: North America Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 8: North America Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 9: North America Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 10: North America Market Value (US$ Million) Forecast by Industry, 2017 to 2032
Table 11: Latin America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 12: Latin America Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 13: Latin America Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 14: Latin America Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 15: Latin America Market Value (US$ Million) Forecast by Industry, 2017 to 2032
Table 16: Europe Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 17: Europe Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 18: Europe Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 19: Europe Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 20: Europe Market Value (US$ Million) Forecast by Industry, 2017 to 2032
Table 21: Asia Pacific Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 22: Asia Pacific Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 23: Asia Pacific Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 24: Asia Pacific Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 25: Asia Pacific Market Value (US$ Million) Forecast by Industry, 2017 to 2032
Table 26: MEA Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 27: MEA Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 28: MEA Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 29: MEA Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 30: MEA Market Value (US$ Million) Forecast by Industry, 2017 to 2032
Figure 1: Global Market Value (US$ Million) by Component, 2022 to 2032
Figure 2: Global Market Value (US$ Million) by Application, 2022 to 2032
Figure 3: Global Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 4: Global Market Value (US$ Million) by Industry, 2022 to 2032
Figure 5: Global Market Value (US$ Million) by Region, 2022 to 2032
Figure 6: Global Market Value (US$ Million) Analysis by Region, 2017 to 2032
Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 9: Global Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 10: Global Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 11: Global Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 12: Global Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 13: Global Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 14: Global Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 15: Global Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 16: Global Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 17: Global Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 18: Global Market Value (US$ Million) Analysis by Industry, 2017 to 2032
Figure 19: Global Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 20: Global Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 21: Global Market Attractiveness by Component, 2022 to 2032
Figure 22: Global Market Attractiveness by Application, 2022 to 2032
Figure 23: Global Market Attractiveness by Organization Size, 2022 to 2032
Figure 24: Global Market Attractiveness by Industry, 2022 to 2032
Figure 25: Global Market Attractiveness by Region, 2022 to 2032
Figure 26: North America Market Value (US$ Million) by Component, 2022 to 2032
Figure 27: North America Market Value (US$ Million) by Application, 2022 to 2032
Figure 28: North America Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 29: North America Market Value (US$ Million) by Industry, 2022 to 2032
Figure 30: North America Market Value (US$ Million) by Country, 2022 to 2032
Figure 31: North America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 32: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 33: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 34: North America Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 35: North America Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 36: North America Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 37: North America Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 38: North America Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 39: North America Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 40: North America Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 41: North America Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 42: North America Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 43: North America Market Value (US$ Million) Analysis by Industry, 2017 to 2032
Figure 44: North America Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 45: North America Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 46: North America Market Attractiveness by Component, 2022 to 2032
Figure 47: North America Market Attractiveness by Application, 2022 to 2032
Figure 48: North America Market Attractiveness by Organization Size, 2022 to 2032
Figure 49: North America Market Attractiveness by Industry, 2022 to 2032
Figure 50: North America Market Attractiveness by Country, 2022 to 2032
Figure 51: Latin America Market Value (US$ Million) by Component, 2022 to 2032
Figure 52: Latin America Market Value (US$ Million) by Application, 2022 to 2032
Figure 53: Latin America Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 54: Latin America Market Value (US$ Million) by Industry, 2022 to 2032
Figure 55: Latin America Market Value (US$ Million) by Country, 2022 to 2032
Figure 56: Latin America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 57: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 58: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 59: Latin America Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 60: Latin America Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 61: Latin America Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 62: Latin America Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 63: Latin America Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 65: Latin America Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 66: Latin America Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 67: Latin America Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 68: Latin America Market Value (US$ Million) Analysis by Industry, 2017 to 2032
Figure 69: Latin America Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 70: Latin America Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 71: Latin America Market Attractiveness by Component, 2022 to 2032
Figure 72: Latin America Market Attractiveness by Application, 2022 to 2032
Figure 73: Latin America Market Attractiveness by Organization Size, 2022 to 2032
Figure 74: Latin America Market Attractiveness by Industry, 2022 to 2032
Figure 75: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 76: Europe Market Value (US$ Million) by Component, 2022 to 2032
Figure 77: Europe Market Value (US$ Million) by Application, 2022 to 2032
Figure 78: Europe Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 79: Europe Market Value (US$ Million) by Industry, 2022 to 2032
Figure 80: Europe Market Value (US$ Million) by Country, 2022 to 2032
Figure 81: Europe Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 82: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 83: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 84: Europe Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 85: Europe Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 86: Europe Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 87: Europe Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 88: Europe Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 89: Europe Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 90: Europe Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 91: Europe Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 92: Europe Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 93: Europe Market Value (US$ Million) Analysis by Industry, 2017 to 2032
Figure 94: Europe Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 95: Europe Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 96: Europe Market Attractiveness by Component, 2022 to 2032
Figure 97: Europe Market Attractiveness by Application, 2022 to 2032
Figure 98: Europe Market Attractiveness by Organization Size, 2022 to 2032
Figure 99: Europe Market Attractiveness by Industry, 2022 to 2032
Figure 100: Europe Market Attractiveness by Country, 2022 to 2032
Figure 101: Asia Pacific Market Value (US$ Million) by Component, 2022 to 2032
Figure 102: Asia Pacific Market Value (US$ Million) by Application, 2022 to 2032
Figure 103: Asia Pacific Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 104: Asia Pacific Market Value (US$ Million) by Industry, 2022 to 2032
Figure 105: Asia Pacific Market Value (US$ Million) by Country, 2022 to 2032
Figure 106: Asia Pacific Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 107: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 108: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 109: Asia Pacific Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 110: Asia Pacific Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 111: Asia Pacific Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 112: Asia Pacific Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 113: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 114: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 115: Asia Pacific Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 116: Asia Pacific Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 117: Asia Pacific Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 118: Asia Pacific Market Value (US$ Million) Analysis by Industry, 2017 to 2032
Figure 119: Asia Pacific Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 120: Asia Pacific Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 121: Asia Pacific Market Attractiveness by Component, 2022 to 2032
Figure 122: Asia Pacific Market Attractiveness by Application, 2022 to 2032
Figure 123: Asia Pacific Market Attractiveness by Organization Size, 2022 to 2032
Figure 124: Asia Pacific Market Attractiveness by Industry, 2022 to 2032
Figure 125: Asia Pacific Market Attractiveness by Country, 2022 to 2032
Figure 126: MEA Market Value (US$ Million) by Component, 2022 to 2032
Figure 127: MEA Market Value (US$ Million) by Application, 2022 to 2032
Figure 128: MEA Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 129: MEA Market Value (US$ Million) by Industry, 2022 to 2032
Figure 130: MEA Market Value (US$ Million) by Country, 2022 to 2032
Figure 131: MEA Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 132: MEA Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 133: MEA Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 134: MEA Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 135: MEA Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 136: MEA Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 137: MEA Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 138: MEA Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 139: MEA Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 140: MEA Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 141: MEA Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 142: MEA Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 143: MEA Market Value (US$ Million) Analysis by Industry, 2017 to 2032
Figure 144: MEA Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 145: MEA Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 146: MEA Market Attractiveness by Component, 2022 to 2032
Figure 147: MEA Market Attractiveness by Application, 2022 to 2032
Figure 148: MEA Market Attractiveness by Organization Size, 2022 to 2032
Figure 149: MEA Market Attractiveness by Industry, 2022 to 2032
Figure 150: MEA Market Attractiveness by Country, 2022 to 2032
The global Low Code Development Platform market is estimated to be valued at USd 21,363.5 Million in 2023.
The Low Code Development Platform market is likely to grow at a CAGR of 28.4% from 2023 to 2033.
The Low Code Development Platform market is projected to reach a valuation of USd 259,922.1 Million by 2033.
North America is projected to lead the global Low Code Development Platform market by 2033.
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