The market size of the Global Low Code Development Platform is expected to reach USD 94.75 Billion in 2028, from USD 10.82 Billion in 2020, at a Compound Annual Growth Rate (CAGR) of 31.6% during 2021-2028
The global “low code development platform market Growth” 2022 Information and Technology Industry Global Analysis By Covid-19 Impact On, Size, Trend, Growth, Shares, Business, Key Players, Mergers, Statistics, Competitive Landscape, And Regional Forecast In 2029 Is Latest Study Published By Fortune Business Insights. The market size of the low code development platform worldwide stands at USD 10.82 Billion in 2020 and is expected to reach USD 94.75 Billion by 2028, registering a CAGR of 31.6% during the forecast period.
Industry Developments:
- October 2021:Announced by ServiceNow, Inc. a strategic partnership with Celonis, Inc. to support the digital transformation of businesses with enhanced customer satisfaction, revenue generation, and cash flow. Companies integrate ServiceNow’s low-code workflow platform with the Celonis Execution Management System to offer real-time execution processes and optimize digitalization.
- September 2020:Mendix Technology BV has expanded into an all-in-one low code platform to solve and ensure increasingly complex business changes. The newly expanded platform can deploy automation tools such as artificial intelligence to improve workflow quality.
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Segments:
Developing Client -Based Apps for Fuel Market Growth
By part, the Low Code Development Platform Market is split into platforms and services.
Based on deployment, the market is divided into on-premises and cloud.
On the basis of business size, the market is divided into SMEs and large enterprises.
According to the industry, the market is separated into BFSI, IT and telecommunications, education, government, manufacturing, healthcare, retail, media and entertainment, and so on.
By region, the Low Code Development Platform Industry is categorized into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
A low-code development platform (LCDP) provides the development environment used to create application software through a graphical user interface. A low-coded platform can make applications fully operational, or require additional coding for specific situations. Low-code development platforms can reduce the amount of traditional time spent, enabling accelerated delivery of business applications. A common benefit is that a wider range of people can contribute to application development — not just those with coding skills but those who need good management to comply with common rules and regulations. LCDPs can also lower the initial cost of setup, training, deployment and maintenance.
Low-code development platforms trace their origins back to the fourth-generation programming language and the fast-paced application development tools of the 1990s and early 2000s. Similar to its earlier development environments, LCDPs are based on the principles of model-driven design, automated code generation, and visual programming. The concept of end-user development has also existed before, although LCDPs have brought some new ways of approaching this development.
Companies Profiled in the Global low code development platform market:
- Appian Corporation (Virginia, US)
- Microsoft Corporation (Washington, US)
- com, Inc. (California, US)
- OutSystems Inc. (Massachusetts, US)
- Mendix Technology BV (Rotterdam, Netherlands)
- Oracle Corporation (California, US)
- Pegasystems Inc. (Massachusetts, US)
- Betty Blocks (North Holland, Netherlands)
- ServiceNow Inc. (California, US)
- Zoho Corporation Pvt. Ltd. (Tamil Nadu, India)
What are Report Highlights?
The low code development platform industry analysis report offers a comprehensive overview of the Market and its key growth prospects such as drivers, constraints, challenges, and upcoming opportunities. It also sheds light on current industry trends, key developments, and other interesting insights useful for this market. It further discusses the nature of market competition, list of players and their main strategies to stay competitive. It also describes the segmentation table and the names of the top segments with market figures. The market report is provided on the company’s website.
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Report Scope:
The low code development platform market report provides realistic data and the latest information about recent market advances and developments. Furthermore, the report offers trending business strategies along with the impact of the COVID-19 pandemic on industry growth. Also, the drivers and constraints affecting the expansion of the global market are further explained. Technological development and advancement strategies are evaluated using current market trends and innovation practices.
What exactly is included in the Report?
Industry Trends and Developments: In this section, the research authors discuss the significant trends and developments taking place in the low code development platform market area, as well as the expected impact of them on overall growth.
Industry size analysis and forecasting: Industry analysts provided industry size information from both value and volume perspectives, including historical, current and projected figures.
Future Prospects: In this part of the study, low code development platform market participants were presented with information about the prospects that the global industry is likely to provide them.
The Competitive Landscape: This section of the study sheds light on the competitive landscape of the low code development platform market by examining the important strategies implemented by vendors to strengthen their position in the low code development platform market.
Industry Segmentation Analysis: This section of the study contains a detailed overview of the important low code development platform market segments, which include product type, application, and vertical, among others.
In -Depth Analysis of the Region: Vendors are given in -depth information about high -growth regions and their particular countries, allowing them to put their money in more profitable areas.
Evaluation of the effect of COVID-19
The pandemic (COVID-19) suddenly hit the world economy in 2020. The severe lockdown in countries has left a surprising and lasting impact on almost all sectors. Professionals working for Fortune Business Insights carefully analyzed the global market, and featured several strategies in the report to prevent the adverse effects of COVID-19 on various companies.
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Press Release Distributed by The Express Wire
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