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Global Low-Code Development Platform Market (2021-2027) by Component, Organization Size, Application, Vertical, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis

  • ID: 5451277
  • Report
  • August 2021
  • Region: Global
  • 204 Pages
  • Infogence Global Research

FEATURED COMPANIES

  • AgilePoint Inc.
  • Caspio Inc.
  • Kony Inc.
  • Mendix Technology B.V.
  • Netcall
  • Pegasystems Inc.
The Global Low-Code Development Platform Market is estimated to be USD 16.4 Bn in 2021 and is expected to reach USD 54.88 Bn by 2027, growing at a CAGR of 22.3%.



Key factors contributing to the growth of the low code development platform market are the increasing adoption of mobile-based apps for business processes as well as a rise in the number of Application Programming Interface (APIs) offerings by software vendors. This has led to a rise in the digitalization process and a high demand for customization in business practices. Moreover, the use of low code development platforms can help eliminate the skill-gap in an employee with less development experience to create sophisticated applications.

The alternatives to low code development platform such as customization based apps are likely to hamper the growth of the market.

Market Dynamics


Drivers

  • Increasing Adoption of Digitalization and Agile Practices
  • The Increasing Need for Rapid Customization and Scalability
  • Elimination of Technical Skill-Gaps in Employees

Restraints

  • Dependency on Vendor-Supplied Customization
  • Alternatives to Low Code Development Platform

Opportunities

  • Growing Digital Transformation in the IT Industry
  • Rising Demand for Robust Solutions to Maximize the Visibility and Control Over Processes

Challenges

  • Legacy Software Upgrades

Segments Covered


By Component, the Platforms segment holds the highest market share. It is mainly because low-code development platforms can simplify the designing and implementing business applications, further optimizing the processes. This can further help in reducing the operational costs of an organization.

By Organization Size, Large Enterprises hold the highest market share as these organizations have higher sanctioned IT budgets for developing a new application. Thus they can invest in low code development platforms, which can help them to generate new applications within less time.

By Application, the Web-Based segment holds the highest market share. The web-based applications can prove beneficial in low code development platforms instead of writing programming languages and its fast speed. It can also help create customized web-based applications by integrating them with the existing digital eco-systems.

By Vertical, the market is classified as BFSI, retail and E-Commerce, Government and defence, Healthcare, IT, energy and utilities, manufacturing, and others. Amongst all, the IT segment holds the highest market share. The major reason underlying the growth of this segment is the faster adoption of emerging technologies. IT companies are responsible for developing a large number of mobile and other web applications etc. With an increased request for third-party packaged solutions and web applications, these companies have been adopting low-code development platforms, which helps them save time over manual coding processes. This further adds to the optimum utilization of resources and enhances the productivity of the organization.

By Geography, North America holds the highest market share. The factors attributed to the growth of the market are early adopters of new technologies, the presence of IT giants with high IT spending capacity, etc. Likewise, APAC is projected to hold the second-largest market share owing to the high penetration of smart devices, growing acceptance of digitalization, and policies initiated by the respective Government. Besides, an increasing number of IT start-ups in emerging economies like India and China are likely to further boost the region's growth.

The Global Low-Code Development Platform Market is segmented further based on Component, Organization Size, Application, Vertical, and Geography.

Global Low-Code Development Platform Market, By Component

  • Introduction
  • Platform
  • Services
  • Professional
  • Managed

Global Low-Code Development Platform Market, By Organization Size

  • Introduction
  • Large Enterprises
  • Small and Medium-Sized Enterprises

Global Low-Code Development Platform Market, By Application

  • Introduction
  • Web-based
  • Mobile-based
  • Desktop and Server-based

Global Low-Code Development Platform Market, By Vertical

  • Introduction
  • BFSI
  • Retail and eCommerce
  • Government and Defence
  • Healthcare
  • IT
  • Energy and Utilities
  • Manufacturing
  • Others (education, transportation and logistics, and media and entertainment)

Global Low-Code Development Platform Market, By Geography

  • Introduction
  • North America
  • South America
  • Europe
  • Asia Pacific
  • Rest of the World

Company Profiles

Some of the companies covered in this report are OutSystem, Mendix, Caspio, Salesforce, Alphabet Inc., Kony Inc., Caspio Inc., ServiceNow Inc., Mendix Technology B.V., Google Inc., Oracle, and Appian, etc.

Competitive Quadrant

The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Low-Code Development Platform Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.

  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.

  • The report also contains the competitive analysis using the Positioning Quadrants, the publisher’s Proprietary competitive positioning tool.


Report Highlights:

  • A complete analysis of the market including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the Global Low-Code Development Platform Market

What is the estimated value of the Global Low-Code Development Platform Market?

The Global Low-Code Development Platform Market was estimated to be valued at $16.4 Billion in 2021.

What is the growth rate of the Global Low-Code Development Platform Market?

The growth rate of the Global Low-Code Development Platform Market is 22.3%, with an estimated value of $54.9 Billion by 2027.

What is the forecasted size of the Global Low-Code Development Platform Market?

The Global Low-Code Development Platform Market is estimated to be worth $54.9 Billion by 2027.

Who are the key companies in the Global Low-Code Development Platform Market?

Key companies in the Global Low-Code Development Platform Market include Appian Corporation, Salesforce.com Inc., AgilePoint Inc., Alphabet Inc., Kony Inc., Microsoft Corporation, Outsystems Inc., Oracle Corporation and ServiceNow Inc..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • AgilePoint Inc.
  • Caspio Inc.
  • Kony Inc.
  • Mendix Technology B.V.
  • Netcall
  • Pegasystems Inc.

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Challenges
4.3 Trends
5 Market Analysis
5.1 Porter’s Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Low-Code Development Platform Market, By Component
6.1 Introduction
6.2 Platform
6.3 Services
6.3.1 Professional
6.3.2 Managed
7 Global Low-Code Development Platform Market, By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.3 Small and Medium-Sized Enterprises
8 Global Low-Code Development Platform Market, By Application
8.1 Introduction
8.2 Web-based
8.3 Mobile-based
8.4 Desktop and Server-based
9 Global Low-Code Development Platform Market, By Vertical
9.1 Introduction
9.2 BFSI
9.3 Retail and e-commerce
9.4 Government and Defense
9.5 Healthcare
9.6 IT
9.7 Energy and Utilities
9.8 Manufacturing
9.9 Others (education, transportation and logistics, and media and entertainment)
10 Global Low-Code Development Platform Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 South America
10.3.1 Brazil
10.3.2 Argentina
10.4 Europe
10.4.1 UK
10.4.2 France
10.4.3 Germany
10.4.4 Italy
10.4.5 Spain
10.4.6 Rest of Europe
10.5 Asia-Pacific
10.5.1 China
10.5.2 Japan
10.5.3 India
10.5.4 Indonesia
10.5.5 Malaysia
10.5.6 South Korea
10.5.7 Australia
10.5.8 Russia
10.5.9 Rest of APAC
10.6 Rest of the World
10.6.1 Qatar
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 United Arab Emirates
10.6.5 Latin America
11 Competitive Landscape
11.1 Competitive Quadrant
11.2 Market Share Analysis
11.3 Competitive Scenario
11.3.1 Mergers & Acquisitions
11.3.2 Agreements, Collaborations, & Partnerships
11.3.3 New Product Launches & Enhancements
11.3.4 Investments & Fundings
12 Company Profiles
12.1 Appian Corporation
12.2 Salesforce.com Inc.
12.3 AgilePoint Inc.
12.4 Alphabet Inc.
12.5 Kony Inc.
12.6 Microsoft Corporation
12.7 Outsystems Inc.
12.8 Oracle Corporation
12.9 Caspio Inc.
12.10 ServiceNow Inc.
12.11 Mendix Technology B.V.
12.12 MatsSoft Limited
12.13 Lansa Inc
12.14 Quick Base Inc.
12.15 Pegasystems Inc.
12.16 Magic Software Enterprises Ltd.
12.17 Zoho
12.18 Fujitsu Runmyprocess
12.19 Netcall
12.20 Wavemaker
12.21 K2
12.22 Trackvia
12.23 Thinkwise Software
12.24 Micropact (Part of Tyler Technologies)
12.25 MRC
13 Appendix
13.1 Questionnaire
Note: Product cover images may vary from those shown
  • Appian Corporation
  • Salesforce.com Inc.
  • AgilePoint Inc.
  • Alphabet Inc.
  • Kony Inc.
  • Microsoft Corporation
  • Outsystems Inc.
  • Oracle Corporation
  • Caspio Inc.
  • ServiceNow Inc.
  • Mendix Technology B.V.
  • MatsSoft Limited
  • Lansa Inc
  • Quick Base Inc.
  • Pegasystems Inc.
  • Magic Software Enterprises Ltd.
  • Zoho
  • Fujitsu Runmyprocess
  • Netcall
  • Wavemaker
  • K2
  • Trackvia
  • Thinkwise Software
  • Micropact (Part of Tyler Technologies)
  • MRC
Note: Product cover images may vary from those shown