Press release
Low-Code Development Platform Market Next Big Thing | Salesforce, Quick Base, Microsoft, LANSA
Low-Code Development Platform Market
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Summary
Global Low-Code Development Platform Market Overview:
A low-code development platform (LCDP) is software that provides a development environment for creating application software through graphical user interfaces and configurations instead of traditional hand-coded computer programming. A low-code model enables developers with different levels of experience to build applications using a visual user interface combined with model-driven logic. Such platforms can create fully operational applications or require additional coding for certain situations. Low-code development platforms reduce the scope of traditional hand-coding and enable accelerated delivery of business applications. A common advantage is that a wider range of people can contribute to the development of the application - not just those with formal programming skills. LCDPs can also reduce initial setup, training, deployment, and maintenance costs. Some of the key players profiled in the study are Salesforce (United States), Microsoft (United States), Appian (United States), Oracle (United States), Pegasystems (United States), Magic Software Enterprises (United States), AgilePoint (United States), OutSystems (United States), Zoho (India), Quick Base (United States), LANSA (United States), Fujitsu RunMyProcess (France) and Netcall (United Kingdom).
On the basis of geography, the market of Low-Code Development Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Subscription Type, the sub-segment i.e. Annual Subscription will boost the Low-Code Development Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-Based will boost the Low-Code Development Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Professional will boost the Low-Code Development Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
The Increasing Need Of Digitalization and Maturity of Agile DevOps Practices
Growing Implementation of Low-Code Development Platform and Services So As To Improve the Automation in the Customer Service Business Functions
Market Trend
Introduction of New and Improved Financial Products and Services to Enhance Its Business Operations
Restraints
Rising Concerns for Cyber Attacks
Opportunities
Emerging Regions Offers Several Untapped and Unexplored Opportunities in the Low-Code Development Platform Market
Challenges
Lack of Skilled IT Professionals
Major Market Developments:
In February 2020, Salesforce acquired Evergage, a cloud-based personalization and customer data platform
In March 2020, Appian launched the latest version of the Appian Low-code Automation Platform. The new version delivers material business impact with unified, flexible, and fast enterprise automation
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations.
Target Audience:
Providers of Low-Code Development Platform, Downstream Vendors, Private Research Institutes, Market Research Organizations and Others
Major Objectives Focused through this Study
• To define, describe, and forecast the Global Low-Code Development Platform market on the basis of product [Solution and Services] , application [Large Size Enterprises and Small-Medium Size Enterprises], key regions and end user
• To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
• To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
• Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
• To provide market size for various segments of the Low-Code Development Platform market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
• To strategically profile the key players and analyzing their market shares and core competencies in the Low-Code Development Platform industry
• To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are WaveMaker (United States) and K2 (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Low-Code Development Platform market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.
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