PUBLISHER: Market Research Future | PRODUCT CODE: 1684500
PUBLISHER: Market Research Future | PRODUCT CODE: 1684500
Global Low Code Development Platform Market Research Report Information By Component (Solution and Service), Type (General Purpose Platform, Database App Platform, Process App Platform, Request Handling Platform and Others), Deployment (On Premise and On Cloud), Organization Size (Small and Medium Enterprise and Large Enterprise), Vertical (Retail and E-Commerce, Healthcare Media and Entertainment, BFSI, IT & Telecommunications, Government and Others), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) Forecast till 2032
According to MRFR analysis, the worldwide low-code development platform market has grown rapidly in recent years. It is estimated to reach USD 3,10,849.2 million by 2032, growing at a CAGR of 31.4% over the forecast period (2024-2032). Digital Business Acceleration Driving application delivery and bridging IT skill gaps are driving market development.
Digital transformation and the use of innovative technologies are in high demand across sectors throughout the world. Many firms have used sophisticated solutions to exploit disruptive technology and provide customer value, consequently increasing productivity and corporate growth.
Market Segment insights
Components divide the minimal code development platform into solution and service categories.
The market is divided into five types: general-purpose platform, database app platform, process app platform, request handling platform, and others.
The market is divided into two segments based on deployment: on-premises and cloud.
The market is divided into two segments based on organization size: small and medium enterprises (SMEs) and large organizations.
The market has been divided into verticals, including retail and e-commerce, healthcare, media and entertainment, BFSI, IT and telecommunications, government, and others.
Regional insights
North America comprises the United States, Canada, and Mexico. This area is likely to dominate the low-code development platform market. Several major market businesses operate in North America, delivering minimal code development platforms and services to all end users in the region. Geographic presence, significant research and development (R&D) efforts, collaborations, acquisitions and mergers all have an impact on the implementation of minimal code development platforms and services.
The European region encompasses the United Kingdom, Germany, France, and the rest of Europe. The minimal code development platform market in this region is expected to grow fast as more web and mobile applications are deployed for business operations and internet penetration increases. Prices are reducing as more applications can be produced in less time.
Asia-Pacific includes China, New Zealand, India, Southeast Asia, Japan, Australia, and the rest of Asia-Pacific. This is attributable to the region's expanding number of industry verticals and rapid digitization. The region's overall market is likely to be boosted by increased industrialization and demand for robust solutions.
The market in the Middle East and Africa is predicted to increase significantly during the forecast period. The Middle East and Africa have the biggest market share because one common benefit is that a wider spectrum of people, not just those with specific programming skills, would contribute to the application's development.
According to MRFR analysis, the key players in the Low Code Development Platform sector are Microsoft, Salesforce.com Inc, Mendix Technology BV, Appian, OutSystem, Pegasystem Inc, ServiceNow, AgilepOint, Caspio Inc, Nintex UK Ltd, Netcall, Zoho Corporation Pvt Ltd., Simplifier AG, WaveMaker Inc, and Skyve.