DUBLIN--(BUSINESS WIRE)--The "Low-Code Development Platform Market by Component (Platform and Services), Application Type, Deployment Type (Cloud and On-Premises), Organization Size (SMEs and Large Enterprises), Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global low-code development platform market is projected to grow from USD 13.2 billion in 2020 to USD 45.5 billion by 2025, at a CAGR of 28.1% during the forecast period.
This market study covers the low-code development platform market size across segments. It aims at estimating the market size and the growth potential of this market across different segments by component, application type, deployment type, organization size, industry, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Major vendors offering low-code development platform software include Salesforce (US), Microsoft (US), Appian (US), Oracle (US), Pegasystems (US), Magic Software Enterprises (US), AgilePoint (US), OutSystems (US), Zoho (India), Quick Base (US), LANSA (US), Fujitsu RunMyProcess (France), Netcall (UK), WaveMaker (US), and K2 (US).
Increasing need of digitalization and maturity of agile DevOps practices to drive the overall growth of the low-code development platform market.
The increasing need of digitalization and maturity of agile DevOps practices are expected to enhance the use of low-code development platform market across the globe. Dependency on vendor-supplied customization restraining the growth of the low-code development platform market.
By component, the platform segment to hold a larger market size in 2020
The low-code development platform simplifies the designing, modelling, and implementing of business application and refining and optimizing processes, which involves human interaction or multiple business disciplines. Therefore, the platform segment registers the highest growth rate during the forecast period.
By application type, the web-based segment to register the highest growth rate during the forecast period
Web application is considered as the face of an organization and by using the low-code development platform organizations can roll out user-defined web-based applications quickly. Instead of writing the programming language for the development of web-based applications, employees with less development experience can also create sophisticated applications. Therefore, the web-based segment holds the highest growth rate during the forecast period.
The Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global low-code development platform market during the forecast period. APAC constitutes major economies, such as China, Japan, and Australia and New Zealand, which are expected to register high growth rates in the low-code development platform market.
Industries such as government and defense, Information Technology (IT), healthcare, manufacturing, retail and eCommerce, Banking, Financial Services and Insurance (BFSI) are expected to adopt low-code development platform solutions at the highest rate in the region. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a significant impact on the business community.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Market
4.2 Low-Code Development Platform Market, by Component, 2020-2025
4.3 Market, by Application Type, 2020-2025
4.4 Market, by Deployment Type, 2020-2025
4.5 Market, by Organization Size, 2020-2025
4.6 Market, Market Share of Top Three Verticals and Regions, 2020
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need for Rapid Customization and Scalability
5.2.1.2 Enterprise Mobility Enables Users to Develop a Business Application Using the Low-Code Development Platform
5.2.1.3 Elimination of Gaps in the Required IT Skills
5.2.2 Restraints
5.2.2.1 Dependency on Vendor Supplied Customization
5.2.3 Opportunities
5.2.3.1 Growing Digital Transformation in the IT Industry
5.2.3.2 Rising Demand for Robust Solutions to Maximize the Visibility and Control Over Processes
5.2.4 Challenges
5.2.4.1 Legacy Software Needs to be Upgraded
5.2.4.2 Selecting Right Time and Right Process to Implement Automation
5.2.5 Use Cases
5.2.5.1 Use Case: Information Technology
5.2.5.2 Use Case: Healthcare
5.2.5.3 Use Case: Manufacturing
5.2.5.4 Use Case: Telecom
5.2.5.5 Use Case: Energy and Utilities
5.2.6 Regulatory Implications
5.2.6.1 Health Insurance Portability and Accountability Act
5.2.6.2 Payment Card Industry Data Security Standard
5.2.6.3 Soc 2 Compliance
6 Impact of COVID-19 on Low-Code Development Platform Market
7 Low-Code Development Platform Market, by Component
7.1 Introduction
7.2 Platform
7.3 Services
8 Low-Code Development Platform Market, by Application Type
8.1 Introduction
8.2 Web-Based
8.3 Mobile-Based
8.4 Desktop and Server-Based
9 Low-Code Development Platform Market, by Deployment Type
9.1 Introduction
9.2 On-Premises
9.3 Cloud
10 Low-Code Development Platform Market, by Organization Size
10.1 Introduction
10.2 Large Enterprises
10.3 Small and Medium-Sized Enterprises
11 Low-Code Development Platform Market, by Industry
11.1 Introduction
11.2 Banking, Financial Services and Insurance
11.3 Retail and e-Commerce
11.4 Government and Defense
11.5 Healthcare
11.6 Information and Technology
11.7 Energy and Utilities
11.8 Manufacturing
11.9 Others
12 Low-Code Development Platform Market, by Region
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.5 Middle East and Africa
12.6 Latin America
13 Competitive Landscape
13.1 Overview
13.2 Competitive Leadership Mapping
13.2.1 Visionary Leaders
13.2.2 Innovators
13.2.3 Dynamic Differentiators
13.2.4 Emerging Companies
14 Company Profiles
14.1 Introduction
14.2 Salesforce
14.3 Microsoft
14.4 Appian
14.5 Oracle
14.6 Pegasystems
14.7 Magic Software Enterprises
14.8 Agilepoint
14.9 Outsystems
14.1 Mendix
14.11 Zoho
14.12 Quick Base
14.13 Lansa
14.14 Fujitsu Runmyprocess
14.15 Netcall
14.16 Wavemaker
14.17 K2
14.18 Trackvia
14.19 Thinkwise Software
14.20 Micropact (Part of Tyler Technologies)
14.21 MRC
14.22 Right-To-Win
For more information about this report visit https://www.researchandmarkets.com/r/llwvr6
