Global Low Code Development Platform Market 2023

Low code platforms allow developers to create custom applications and workflows quickly and easily, while reducing the need for extensive coding and development. This approach saves time and resources and enables developers to focus on more complex aspects of the application development process. Low code platforms also provide pre-built modules and integration capabilities that enable developers to integrate with other software systems and data sources, like cloud-based services and databases, to create powerful and integrated applications. Low code platforms are useful for a wide range of applications, including business process automation, mobile applications, data visualization, and content management. They enable organizations to create custom applications that meet their specific needs more quickly and at a lower cost than traditional development methods. Additionally, low code platforms are often easier to maintain, upgrade, and scale as business needs change over time. According to the latest estimates, the global low code development platform market is set to achieve an incremental growth of USD 47.3 billion, accelerating at a CAGR of almost 29.51% during the forecast period 2023-2029.

This industry report offers market estimates of the global market, followed by a detailed analysis of the application type, deployment mode, organization size, end user, and region. The global market data on low code development platform can be segmented by application type: desktop and server-based, mobile-based, web-based. The desktop and server-based segment captured the largest share of the market in 2022. Low code development platform market is further segmented by deployment mode: cloud-based, on-premises. The cloud-based segment held the largest share of the global low code development platform market in 2022 and is anticipated to hold its share during the forecast period. Based on organization size, the low code development platform market is segmented into: large enterprises, small and medium enterprises (SMEs). In 2022, the large enterprises segment made up the largest share of revenue generated by the low code development platform market. On the basis of end user, the low code development platform market also can be divided into: BFSI, energy and utility, government, healthcare, IT, manufacturing, retail and e-commerce, others. Among these, the IT segment was accounted for the highest revenue generator in 2022. Low code development platform market by region is categorized into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America.

The global low code development platform market is highly competitive. Top players covered in Global Low Code Development Platform Market Study are Appian Corporation, Magic Software Enterprises Ltd, Microsoft Corporation, Oracle Corporation, Outsystems Inc., Pegasystems Inc., QuickBase Inc., Salesforce.com Inc., ServiceNow Inc., Siemens AG, Temenos AG, ZOHO Corporation.

The data-centric report focuses on market trends, status and outlook for segments. With comprehensive market assessment across the major geographies, the report is a valuable asset for the existing players, new entrants and the future investors.

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