Enterprise low-code application platforms enable rapid application development, deployment, implementation, and management. It speeds up software development by allowing developers to work with pre-written pieces of code. Therefore, it requires a very low level of coding knowledge to use the platform, and thus significantly reduces the time and cost required for application development. Because it enables faster application deployment and updating, businesses can meet regulatory requirements and stay ahead of deadlines by using LCAP. In addition, advanced low-code platforms allow the integration of local data centers with cloud services via APIs and data sharing.
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Competitive Landscape
The enterprise low-code application platforms market is comprised of various market players such as Salesforce. Appian, Mendix Technology BV, Microsoft, Pegasystems, Zoho Corporation Pvt. Ltd., OutSystems, and Oracle Corporation. Other players operating in this market include ServiceNow, TrackVia, Nintex UK Ltd. and K2. These market players use different joint venture strategies, product launches and business expansion planning in different regions to keep their market dominance of application platforms low. enterprise code. For example, on June 23, 2021, TrailheaDX, launched a new Salesforce Platform that provides a set of low-code tools for interactive app development and automation.
Moreover, on April 30, 2021, Mendix launched Mendix 9 to provide basic low-code principles and a comprehensive platform for intelligent process automation, democratizing access to data sources. In addition, Mendix 9 offers a Workflow Editor that allows business users and developers to visualize business processes to build workflows that incorporate human actions and associated logic.
Market Dynamics and Trends
The increasing focus towards digital innovation in industries is driving the demand for the market of application platforms with low enterprise code. The low-code application platform supports rapid application development, one-step deployment, execution, and management using declarative, high-level programming abstraction, such as model-based and metadata-based programming languages. For example, on May 6, 2021, Innominds, a software and digital engineering products provider, launched its own low-code platform for software development called iSymphonyTM. The platform provides a development environment to create and configure application software through a graphical user interface. The growing number of innovative product launches is driving market growth. Moreover, the increasing demand for rapid customization and scalability also serves as a driving force for the LCAP market in developing countries such as China, India, and Brazil. Furthermore, the increasing trend of automating the software development process using pre-baked, ready-made components/integrations that significantly accelerate application development, is contributing to market growth.
However, there is a shortage of specialized software developers, which is required after the prototyping phase. In addition, these platforms have not completely changed, leaving a large number of holes for business risk. Thus, the implementation of low code development tools, is very limited at present. Also, it offers very limited flexibility due to its reliance on the built-in functionality of platforms and plugins. Applications made from enterprise low code application platforms also lack adequate security due to lack of control over source code. Therefore, these factors are expected to hinder market growth to some extent.
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Geographical Analysis
North America held a large share of the market of enterprise low-code application platforms during the forecast period. This is associated with increasing demand for enterprise low code application platforms in the US, Canada and Mexico as it offers reduced deployment time of mobile and web-based applications for expanding the customer base. With this growing demand, major market players are launching innovative solutions. For example, on May 16, 2021, Appian, a US-based company launched a new low-code automation platform for businesses, providing consistent analysis of automation, bots, data, current systems, teams orchestration, and so on. The platform also provides quick solutions for deploying AI-powered applications and streamlining workflow. Additionally, many market players such as Amazon, Appian, Pega, Microsoft, and ServiceNow are producing products and ideas to ease the burden for businesses.
However, Asia-Pacific is expected to show a steady increase in the enterprise low-code application platform market due to the increasing use of low code platforms in industry verticals and rapid digitalization in the region. Moreover, the increasing focus on developing high-end products and enterprise low-code applications is expected to drive enterprise low-code application platforms market growth in this region.
MAIN MARKET SEGMENTS
- Market of Enterprise Low-Code Application Platforms- By Part
- Enterprise Low-Code Application Platforms Market- According to Application
- Web -based
- Based on Mobile
- Desktop
- Server Based
- Enterprise Market Low-Code Application Platforms- According to Enterprise Size
- Big Business
- Small and Medium Sized Businesses
- Enterprise Low-Code Application Platforms Market- According to Deployment Model
- Enterprise Low-Code Application Platforms Market- By Geography
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Other parts of Europe
- Asia-Pacific
- China
- India
- Japanese
- South Korea
- Australia
- Other parts of the Asia-Pacific
- RoW
- UAE
- Saudi Arabia
- South Africa
- Brazil
- Remaining countries
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