What Is The Leading Driver Behind The Surging Demand For Applications For Business Organizations Drives The Low-Code Development Platforms Market Expansion in 2025

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What Will the Low-Code Development Platform Industry Market Size Be by 2025?
The market size for low-code development platforms has experienced exponential expansion in the past few years. The projection is for it to rise from $39.64 billion in 2024 to reach a hefty $50.01 billion in 2025, indicating a substantial compound annual growth rate (CAGR) of 26.2%. The historic period's growth has been propelled by factors such as a surge in demand for quick application development, a lack of adequately skilled developers, cost-effective aspects of application development, enhanced agility and flexibility, enabling of business users along with a user-friendly development ecosystem, and integrative capabilities.

What's the Long-Term Growth Forecast for the Low-Code Development Platform Market Size Through 2029?
The market size for low-code development platforms is projected to experience significant growth in the coming years, reaching $154.65 billion in 2029 at a 32.6% compound annual growth rate (CAGR). This progression during the forecasting period could be due to factors such as the development across platforms, heightened emphasis on security, growth of industry-specific solutions, the changing regulatory environment, focus on scalability, and open source low-code solutions. Key trends anticipated in the forecast period include an uptick in the use of low-code platforms, their integration with devops practices, expansion of mobile app development, enhancements in the security of low-code solutions, growth of the ecosystem and marketplace integration, collaboration and team-centered development, improvement in user experience and design tools, along with vendor alliances and mergers.

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What Are the Key Growth Drivers Fueling the Low-Code Development Platform Market Expansion?
The upward surge in demands for business applications is anticipated to stimulate the expansion of the low-code development platform market in the foreseeable future. Low-code is essentially a software based on coding that enables enhanced business process users to rapidly build and administer applications with limited manual coding. Projections from the US-based Bureau of Labor Statistics suggest that by 2026, there will be a shortfall of 1.2 million engineers. Additionally, a mere 39.6% of applicants for IT roles meet all the criteria set by employers. This circumstance will necessitate the use of low-code platforms that can accurately automate tasks.

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What Are the Key Trends Driving Low-Code Development Platform Market Growth?
Advances in technology are molding the landscape of the low-code development platform market. The fusion of AI opens up opportunities for the use of a low-code development platforms in numerous applications, including the resolution of intricate functions, detection of content through keyword or color recognition, and data infusion into templates. AI is employed to streamline a low-code development platform to incorporate legacy systems, thus eliminating technical intricacies. For example, Aurachain, a company based in Switzerland that specializes in providing a blockchain-based business process management platform, unveiled an AI-Powered low-code platform in November 2023. This new feature underlines Aurachain's commitment in offering a superior experience for professional as well as citizen developers. It elevates the productivity of low-code development, particularly excelling in managing complicated and personalized processes and applications.

How Is the Low-Code Development Platform Market Segmented?
The low-code development platformmarket covered in this report is segmented -

1) By Component: Platform, Services
2) By Application: Web-Based, Mobile-Based, Desktop And Server-Based
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Industry: Banking, Financial Services, And Insurance (BFSI), Retail And eCommerce, Government And Defense, Healthcare, IT, Energy And Utilities, Manufacturing

Subsegments:
1) By Platform: Development Tools, Integration Tools, Deployment Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services

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Which Companies Are Leading the Charge in Low-Code Development Platform Market Innovation?
Major companies operating in the low-code development platform market include AgilePoint Inc., Appian Corporation, Caspio Inc., Fujitsu RunMyProcess Inc., Nintex Software Inc., LANSA Inc., Magic Software Enterprises Ltd., MatsSoft Limited, Mendix Technology Inc., Microsoft Corporation, Netcall Ltd., Oracle Corporation, OutSystems Inc., Pegasystems Inc., QuickBase Inc., Salesforce. com Inc., ServiceNow Inc., WaveMaker Inc., Zoho Corporation Pvt. Ltd., Google LLC, TrackVia Inc., Bizagi Process Automation Inc., Boomi Inc., Bubble Group Inc., DronaHQ (Deltecs InfoTech Pvt. Ltd. ), HCL Domino, Intuit QuickBase, KiSSFLOW Inc.

Which Regions Are Leading the Global Low-Code Development Platform Market in Revenue?
North America was the largest region in the low-code development platform market in 2024. The regions covered in the low-code development platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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