Low-Code Development Platform Market- Global Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2017-2027, Segmented By Offering (Solution, Service), By Application (Web-Based, Mobile-Based), By Enterprise (Large Enterprises, Small and Medium Enterprises), By End-User (IT, BFSI, Retail, Healthcare, Government, Manufacturing, Media and Entertainment, Education, Energy, Utilities, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
- Published Date: October 2021
- Report ID: BWC20186
- Available Format: PDF
- Page: 190
Report Overview
The global low-code development platform market is mainly driven by the increasing number of small and medium-sized businesses, especially in the emerging economies, that are rapidly switching their business online.
Global Low-Code Development Platform Market- Industry Trends & Forecast Report 2027
The global low-code development platform market was worth USD 13.3 billion in 2020 and is further projected to reach USD 75.4 billion by the year 2027, growing at the CAGR of 28.2% in the forecast period. The market is primarily driven by the growing number of small and medium-sized firms, particularly in emerging nations, that are rapidly switching their business online. Furthermore, rising smartphone penetration, rapid economic development in leading nations, and a thriving IT service industry are emerging as important factors driving the global low-code development platform market.
Source: BlueWeave Consulting
Global Low-Code Development Platform Market- Overview
A low-code development platform (LCDP) provides a Graphical User Interface for programming, which reduces programming effort and speeds up the development process. The low code growth involves little or no coding techniques, which ultimately reduces the time and cost for developing the platform, which proves advantageous for businesses, especially SMEs. Low code growth platforms offer critical and sophisticated solutions to ease business processes, which fall into two categories: web and mobile solutions.
Global Low-Code Development Platform Market Forecast and Trends
Growth Drivers
Increasing Preferences Toward Cloud-Native Low-Code Development Platform
The cloud-based applications prove to be cost-effect for the businesses as it does not involve on-premise set-up. With the rapid shift towards cloud computing and remote working, the prevalence of low-code development platforms has never been more important than before. Businesses are using low-code development platforms for creating visual models for their cloud-native infrastructure and expanding their scope and audience. And as the demand for cloud-based applications is surging, professionals are also opting for these platforms to meet the growing demand.
Growing Demand for Business Digitization
With the digital transformation, companies operating in financial services and insurance (BFSI); manufacturing; banking, automotive; oil & gas; and several other verticals are prompted to adopt digital technologies to stay ahead in the market. A low-code development platform plays a serious role in the digital conversion journey of an organization. It helps reduce time and resources compared to the old-style software growth process. With the rise in demand for business applications across industries, the demand for low-code development platforms is also projected to rise, driving the overall market growth.
Restraints
Growing Concerns Surrounding Security And Compliance
The low cost-development platform can be used by non-technical persons as well for the development of applications. However, due to the lack of knowledge surrounding security and limited options, the low-code development platforms raise a lot of concerns surrounding security and compliance, especially if it records users’ data. This can make the applications built through these platforms a potential victim of cyberattacks. It is also a high likelihood that these applications do not meet the privacy regulations of their respective regions. This may act as a major restraining factor for the growth of the global low-code development platforms.
Impact of COVID-19 on Global Low-Code Development Platform Market
The unprecedented outbreak of the COVID-19 significantly proliferated the growth of the global low-code development platform market. The lockdown in various countries that followed the pandemic hindered crucial business operations such as manufacturing, distribution, raw-materials supply, etc. However, the businesses already working online were able to retain their operations through websites and applications where they could receive and process the orders, send invoices, can make a demand for raw materials, etc. As a result, the demand for low-code development platforms witnessed a sharp surge in its market as businesses rapidly turned to shift towards online mediums.
Global Low-Code Development Platform Market - By Offering
Based on offering, the global low-code development platform market is categorized into solution and service. The solution segment holds the largest share in the global low-code development platform. The growth of this segment is attributed to the increasing adoption of these platforms among various industry verticals such as government, healthcare retains, education because of the low cost involved in the development of required applications through these platforms. However, the service segment is also growing at a substantial rate and is gaining traction, especially among large enterprises.
Global Low-Code Development Platform Market - By Enterprise
Based on the enterprise, the global low-code development platform market is segmented into large enterprises and small and medium enterprises. The large enterprise segment accounts for the largest share in the market because of the prominent use of low-code development platforms in industries like BFSI, IT, government, etc. Large organizations focus on cutting their costs while offering interactive platforms to their users without the need for professional hindrance, which is contributing to their market growth. The small and medium-sized enterprises are estimated to witness the highest CAGR during the forecast period due to the rapid shift towards online business and their limited financial capital.
Global Low-Code Development Platform Market - By End-User
Based on end-user, the global low-code development platform market is categorized into IT, BFSI, retail, healthcare, government, manufacturing, media and entertainment, education, energy, utilities, and others. The IT category holds the largest share of the market due to the favourability of the industries towards new technologies. IT companies develop a significant number of mobile, web applications, and other third-party solutions. However, these companies often face backlogs with increasing needs for new apps and third-party packed solutions from various trades. As a result, these companies are progressively adopting low-code development platforms that offer visual app creation, inform, and sharing facilities, which take notably less time as compared to manual coding development.
Global Low-Code Development Platform Market - Regional Insights
Geographically, the global low-code development platform market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America accounts for the largest share in the global low-code development platform. However, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. The APAC countries such as India, China, Japan, South Korea, etc., are the most preferred regions for IT outsourcing purposes. Owing to this, the IT companies receive large-scale requests for application development for various businesses, organizations as well as freelancers, which is propelling the growth of the market.
Source: BlueWeave Consulting
Competitive Landscape
The leading market players of the global low-code development platform market are Salesforce, MatsSoft, Appian, Mendix, Bizagi, Microsoft, Pega Systems, Mendix, Zoho, OutSystems, Oracle Corporation, Magic Software Enterprises Ltd, AgilePoint Inc., QuickBase Inc., Clear Software LLC, Kony Inc. 8.14 ServiceNow Inc., Skuid Inc., LANSA, Fujitsu RunMyProcess, and other prominent players.
The market is highly fragmented with the presence of several industry participants offering a wide range of platforms and services for application development. The companies significantly focus and invest in the r&d activities to innovate their offerings and engage in product launches. For instance, Mendix Technology BV, a low code software platform company, recently launched new artificial intelligence features and other enhancements for its low-code development platform. Furthermore, the adoption of competitive strategies like partnerships, mergers, acquisitions, collaborations, etc., is also very prominent in this market.
Recent Development
- In October 2021, Kianda Technologies, an Irish SaaS company, announced to have received £1.5 million (approx USD 1.7 million) for the development of its low-code platform for businesses and to expand their team.
- In October 2021, Veritran, an Argentina-based global low-code development platform provider, announced their technology alliance partnership with Entrust, a US-based IT security company, to offer their clients Entrust Identity as a Service and Instant Financial Issuance Solution.
Scope of the Report
|
Attributes |
Details |
|
Years Considered |
Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 |
|
Facts Covered |
Revenue in USD Billion |
|
Market Coverage |
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
|
Product Service/Segmentation |
By Offering, By Application, By Enterprise, By End-User, By Region |
|
Key Players |
Salesforce, MatsSoft, Appian, Mendix, Bizagi, Microsoft, Pega Systems, Mendix, Zoho, OutSystems, Oracle Corporation, Magic Software Enterprises Ltd, AgilePoint Inc., QuickBase Inc., Clear Software LLC, Kony Inc. 8.14 ServiceNow Inc., Skuid Inc., LANSA, Fujitsu RunMyProcess, and other prominent players. |
By Offering
- Solution
- Service
By Application
- Web-Based
- Mobile-Based
By Enterprise
- Large Enterprises
- Small and Medium Enterprises
By End-User
- IT
- BFSI
- Retail
- Healthcare
- Government
- Manufacturing
- Media and Entertainment
- Education
- Energy
- Utilities
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Research Framework
- Research Objective
- Product Overview
- Key Market Segments
- Research Methodology
- Qualitative Research
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Market Breakdown & Data Triangulation
- Executive Summary
- Industry Insight and Growth Strategy
- Value Chain Analysis
- DROC Analysis
- Market Drivers
- Increasing Preferences Toward Cloud Native Low-Code Development Platform
- Growing Demand for Business Digitization
- Market Restraints
- Growing Concerns Surrounding Security And Compliance
- Market Challenges
- Limited Flexibility And Options Compared To Traditional Codes
- Market Opportunity
- Development in IT Infrastructure
- Positive Impact of the COVID-19 Pandemic
- Market Drivers
- Recent Developments
- Porter’s Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Intensity of Rivalry
- Threat of New Entrants
- Threat of Substitutes
- Global Low-Code Development Platform Market Overview
- Market Size & Forecast by Value, 2017-2027
- Market Size and Forecast, By Segment
- By Offering
- Solution
- Service
- By Application
- Web-Based
- Mobile-Based
- By Enterprise
- Large Enterprises
- Small and Medium Enterprises
- By End-User
- IT
- BFSI
- Retail
- Healthcare
- Government
- Manufacturing
- Media and Entertainment
- Education
- Energy
- Utilities
- Others
- By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- By Offering
- North America Low-Code Development Platform Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Offering
- By Application
- By Enterprise
- By End-User
- By Country
- U.S.
- Canada
- Market Size and Forecast
- Europe Low-Code Development Platform Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Offering
- By Application
- By Enterprise
- By End-User
- By Country
- Germany
- U.K.
- Russia
- France
- Italy
- Spain
- Rest of Europe
- Market Size and Forecast
- APAC Low-Code Development Platform Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Offering
- By Application
- By Enterprise
- By End-User
- By Country
- China
- India
- Japan
- South Korea
- Rest of APAC
- Market Size and Forecast
- LATAM Low-Code Development Platform Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Offering
- By Application
- By Enterprise
- By End-User
- By Country
- Mexico
- Brazil
- Rest of LATAM
- Market Size and Forecast
- MEA Low-Code Development Platform Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Offering
- By Application
- By Enterprise
- By End-User
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Market Size and Forecast
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis (2020)
- Competitive Benchmarking by Operating Parameters
- Impact of COVID-19 on Global Low-Code Development Platform Market
- Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- Salesforce
- OutSystems
- Mendix
- Google Inc.
- Caspio
- Appian
- Microsoft Corporation
- MatsSoft
- K2
- Bizagi
- AgilePoint
- Service now
- Kony Inc
- TrackVia Inc.
- ZOHO Corporation
- Magic Software Enterprises Ltd
- Oracle Corporation
- QuickBase Inc.
- Clear Software LLC
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1: Global Low-Code Development Platform Market Segmentation
Figure 2: Global Low-Code Development Platform Market Value Chain Analysis,
Figure 3: Company Market Share Analysis, 2020
Figure 4: Global Low-Code Development Platform Market Size, By Value (USD Billion), 2017-2027
Figure 5: Global Low-Code Development Platform Market Share (%), By Offering, By Value, 2017-2027
Figure 6: Global Low-Code Development Platform Market Share (%), By Application, By Value, 2017-2027
Figure 7: Global Low-Code Development Platform Market Share (%), By Enterprise, By Value, 2017-2027
Figure 8: Global Low-Code Development Platform Market Share (%), By End-User, By Value, 2017-2027
Figure 9: Global Low-Code Development Platform Market Share (%), By Region, By Value, 2017-2027
Figure 10: North America Low-Code Development Platform Market Size, By Value (USD Billion), 2017-2027
Figure 11: North America Low-Code Development Platform Market Share (%), By Offering, By Value, 2017-2027
Figure 12: North America Low-Code Development Platform Market Share (%), By Application, By Value, 2017-2027
Figure 13: North America Low-Code Development Platform Market Share (%), By Enterprise, By Value, 2017-2027
Figure 14: North America Low-Code Development Platform Market Share (%), By End-User, By Value, 2017-2027
Figure 15: North America Low-Code Development Platform Market Share (%), By Country, By Value, 2017-2027
Figure 16: Europe Low-Code Development Platform Market Size, By Value (USD Billion), 2017-2027
Figure 17: Europe Low-Code Development Platform Market Share (%), By Offering, By Value, 2017-2027
Figure 18: Europe Low-Code Development Platform Market Share (%), By Application, By Value, 2017-2027
Figure 19: Europe Low-Code Development Platform Market Share (%), By Enterprise, By Value, 2017-2027
Figure 20: Europe Low-Code Development Platform Market Share (%), by End-User, By Value, 2017-2027
Figure 21: Europe Low-Code Development Platform Market Share (%), By Country, By Value, 2017-2027
Figure 22: Asia-Pacific Low-Code Development Platform Market Size, By Value (USD Billion), 2017-2027
Figure 23: Asia-Pacific Low-Code Development Platform Market Share (%), By Offering, By Value, 2017-2027
Figure 24: Asia-Pacific Low-Code Development Platform Market Share (%), By Application, By Value, 2017-2027
Figure 25: Asia-Pacific Low-Code Development Platform Market Share (%), By Enterprise, By Value, 2017-2027
Figure 26: Asia-Pacific Low-Code Development Platform Market Share (%), By End-User, By Value, 2017-2027
Figure 27: Asia-Pacific Low-Code Development Platform Market Share (%), By Country, By Value, 2017-2027
Figure 28: Latin America Low-Code Development Platform Market Size, By Value (USD Billion), 2017-2027
Figure 29: Latin America Low-Code Development Platform Market Share (%), By Offering, By Value, 2017-2027
Figure 30: Latin America Low-Code Development Platform Market Share (%), By Application, By Value, 2017-2027
Figure 31: Latin America Low-Code Development Platform Market Share (%), By Enterprise, By Value, 2017-2027
Figure 32: Latin America Low-Code Development Platform Market Share (%), By End-User, By Value, 2017-2027
Figure 33: Latin America Low-Code Development Platform Market Share (%), By Country, By Value, 2017-2027
Figure 34: Middle East & Africa Low-Code Development Platform Market Size, By Value (USD Billion), 2017-2027
Figure 35: Middle East & Africa Low-Code Development Platform Market Share (%), By Offering, By Value, 2017-2027
Figure 36: Middle East & Africa Low-Code Development Platform Market Share (%), By Application, By Value, 2017-2027
Figure 37: Middle East & Africa Low-Code Development Platform Market Share (%), By Enterprise, By Value, 2017-2027
Figure 38: Middle East & Africa Low-Code Development Platform Market Share (%), By End-User, By Value, 2017-2027
Figure 39: Middle East & Africa Low-Code Development Platform Market Share (%), By Region, By Value, 2017-2027
List of Tables
Table 1: Global Low-Code Development Platform Market Size, By Offering, By Value, 2017-2027
Table 2: Global Low-Code Development Platform Market Size, By Application, By Value (USD Billion), 2017-2027
Table 3: Global Low-Code Development Platform Market Size, By Enterprise, By Value (USD Billion), 2017-2027
Table 4: Global Low-Code Development Platform Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 5: Global Low-Code Development Platform Market Size, By Region, By Value (USD Billion), 2017-2027
Table 6: North America Low-Code Development Platform Market Size, By Offering, By Value (USD Billion), 2017-2027
Table 7: North America Low-Code Development Platform Market Size, By Application, By Value (USD Billion), 2017-2027
Table 8: North America Low-Code Development Platform Market Size, By Enterprise, By Value (USD Billion), 2017-2027
Table 9: North America Low-Code Development Platform Market Size, By End-User, By Value (USD Billion), 2017-2027,
Table 10: Europe Low-Code Development Platform Market Size, By Offering, By Value (USD Billion), 2017-2027
Table 11: Europe Low-Code Development Platform Market Size, By Application, By Value (USD Billion), 2017-2027
Table 12: Europe Low-Code Development Platform Market Size, By Enterprise, By Value (USD Billion), 2017-2027
Table 13: Europe Low-Code Development Platform Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 14: the Asia-Pacific Low-Code Development Platform Market Size, By Offering, By Value (USD Billion), 2017-2027
Table 15: the Asia-Pacific Low-Code Development Platform Market Size, By Application, By Value (USD Billion), 2017-2027
Table 16: the Asia-Pacific Low-Code Development Platform Market Size, By Enterprise, By Value (USD Billion), 2017-2027
Table 17: the Asia-Pacific Low-Code Development Platform Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 18: Latin America Low-Code Development Platform Market Size, By Offering, By Value (USD Billion), 2017-2027
Table 19: Latin America Low-Code Development Platform Market Size, By Application, By Value (USD Billion), 2017-2027
Table 20: Latin America Low-Code Development Platform Market Size, By Enterprise, By Value (USD Billion), 2017-2027
Table 21: Latin America Low-Code Development Platform Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 22: The Middle-East & Africa Low-Code Development Platform Market Size, By Offering, By Value (USD Billion), 2017-2027
Table 23: The Middle-East & Africa Low-Code Development Platform Market Size, By Application, By Value (USD Billion), 2017-2027
Table 24: The Middle-East & Africa Low-Code Development Platform Market Size, By Enterprise, By Value (USD Billion), 2017-2027
Table 25: The Middle-East & Africa Low-Code Development Platform Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 26: Salesforce Financial Analysis
Table 27: Salesforce Business Overview
Table 28: OutSystems Financial Analysis
Table 29: OutSystems Business Overview
Table 30: Mendix Corporation Financial Analysis
Table 31: Mendix Corporation Business Overview
Table 32: Google Inc. Financial Analysis
Table 33: Google Inc. Business Overview
Table 34: Caspio Financial Analysis
Table 35: Caspio Business Overview
Table 36: Appian Financial Analysis
Table 37: Appian Business Overview
Table 38: Microsoft Corporation Financial Analysis
Table 39: Microsoft Corporation Business Overview
Table 40: MatsSoft Financial Analysis
Table 41: MatsSoft Business Overview
Table 42: K2 Financial Analysis
Table 43: K2 Business Overview
Table 44: Bizagi Financial Analysis
Table 45: Bizagi Business Overview
Table 46: AgilePoint Financial Analysis
Table 47: AgilePoint Financial Analysis
Table 48: Service now Financial Analysis
Table 49: Service now Business Overview
Table 50: Kony Inc Financial Analysis
Table 51: Kony Inc Business Overview
Table 52: TrackVia Inc. Financial Analysis
Table 53: TrackVia Inc. Business Overview
Table 54: ZOHO Corporation Financial Analysis
Table 55: ZOHO Corporation Business Overview
Table 56: Magic Software Enterprises Ltd Financial Analysis
Table 57: Magic Software Enterprises Ltd Business Overview
Table 58: Oracle Corporation Financial Analysis
Table 59: Oracle Corporation Business Overview
Table 60: QuickBase Inc. Financial Analysis
Table 61: QuickBase Inc. Business Overview
Table 62: Clear Software LLC Financial Analysis
Table 63: Clear Software LLC Business Overview
Market Segmentation
By Offering
- Solution
- Service
By Application
- Web-Based
- Mobile-Based
By Enterprise
- Large Enterprises
- Small and Medium Enterprises
By End-User
- IT
- BFSI
- Retail
- Healthcare
- Government
- Manufacturing
- Media and Entertainment
- Education
- Energy
- Utilities
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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