PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484686
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484686
Low-Code Development Platform Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)
Key Highlights
The low-code development platform market was valued at USD 24.8 billion in 2023, and it will rise to USD 167.0 billion, growing at a 31.4% compound annual growth rate, by 2030.
The rising need for business digitization is an important factor boosting the growth of this industry.
With the digital revolution, businesses in the manufacturing, BFSI, oil & gas, automotive, and other sectors are swiftly accepting digital technologies to stay ahead.
Low-code development platforms play an important part in the digital transformation of businesses, assisting in decreasing the resources and duration consumed by the conventional software development procedure.
In the present economic situation and rising competition in the industry, businesses are continuously trying to achieve more effectiveness with limited resources.
This forms an important requirement for an effective TTM strategy to keep consumers engaged with innovative features and applications.
Digital transformation in healthcare, BFSI, retail, education, and various other sectors has improved the operations of respective organizations.
Businesses provide digital applications to retain their consumers, offer great satisfaction to customers, and sustain data in a systematized way.
Low-code development platform provides quicker development of applications, ease in making mobile and web applications, and accessibility of drag-and-drop templates, which improve developed applications' scalability.
Businesses can now make new applications in less time to sustain and compete in the industry.
Market Insights
North America was the largest contributor to the industry in 2023, with a 45% share. This can be because of the fast acceptance of digital technologies and the presence of many major players in this region.
APAC will advance at the fastest rate, of 31.8%, in the coming years. This is due to the rising internet usage and the requirement of businesses to decrease operating expenses.
The solution category led the industry in 2023, with more than 70% share, because of the increasing acceptance of these platforms across various verticals to decrease the long-term expenditures on operations.
The services category will propel at a higher rate, of 31.6%, in the coming years, because of the rising need for incorporation and implementation services.
The cloud category is leading the industry, and it will observe a higher growth rate, of 31.5%, in the coming years.
Most low-code development platforms are deployed through the cloud because it provide real-time access to observe and track services and apps.
Large enterprises led the industry in 2023, with a share of approximately 65%.
Large enterprises have a greater budget to employ low-code development platforms to make many new applications for their processes in less time.
The SMEs category is likely to advance at a faster compound annual growth rate, of 31.7%, in the years to come.
This is primarily because of the inclination of SMEs toward cloud-based low-code development platforms to reduce cost and resource barriers for the development of applications.
The IT category was the largest contributor to the industry in 2023, with approximately 30% share. This is mainly because of the quick acceptance of novel technologies.
The low-code development platform industry is very fragmented, because of the existence of some major companies.
Swift advancements in digital technologies like predictive analysis, ML, and AI, coupled with the digital revolution of sectors have heightened competition in this market.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by offering
- 1.4.2. Market size breakdown, by deployment type
- 1.4.3. Market size breakdown, by enterprise size
- 1.4.4. Market size breakdown, by vertical
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Offering (2017-2030)
- 6.3. Market Revenue, by Deployment Type (2017-2030)
- 6.4. Market Revenue, by Enterprise Size (2017-2030)
- 6.5. Market Revenue, by Vertical (2017-2030)
- 6.6. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Offering (2017-2030)
- 7.3. Market Revenue, by Deployment Type (2017-2030)
- 7.4. Market Revenue, by Enterprise Size (2017-2030)
- 7.5. Market Revenue, by Vertical (2017-2030)
- 7.6. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Offering (2017-2030)
- 8.3. Market Revenue, by Deployment Type (2017-2030)
- 8.4. Market Revenue, by Enterprise Size (2017-2030)
- 8.5. Market Revenue, by Vertical (2017-2030)
- 8.6. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Offering (2017-2030)
- 9.3. Market Revenue, by Deployment Type (2017-2030)
- 9.4. Market Revenue, by Enterprise Size (2017-2030)
- 9.5. Market Revenue, by Vertical (2017-2030)
- 9.6. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Offering (2017-2030)
- 10.3. Market Revenue, by Deployment Type (2017-2030)
- 10.4. Market Revenue, by Enterprise Size (2017-2030)
- 10.5. Market Revenue, by Vertical (2017-2030)
- 10.6. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Offering (2017-2030)
- 11.3. Market Revenue, by Deployment Type (2017-2030)
- 11.4. Market Revenue, by Enterprise Size (2017-2030)
- 11.5. Market Revenue, by Vertical (2017-2030)
- 11.6. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Offering (2017-2030)
- 12.3. Market Revenue, by Deployment Type (2017-2030)
- 12.4. Market Revenue, by Enterprise Size (2017-2030)
- 12.5. Market Revenue, by Vertical (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Offering (2017-2030)
- 13.3. Market Revenue, by Deployment Type (2017-2030)
- 13.4. Market Revenue, by Enterprise Size (2017-2030)
- 13.5. Market Revenue, by Vertical (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Offering (2017-2030)
- 14.3. Market Revenue, by Deployment Type (2017-2030)
- 14.4. Market Revenue, by Enterprise Size (2017-2030)
- 14.5. Market Revenue, by Vertical (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Offering (2017-2030)
- 15.3. Market Revenue, by Deployment Type (2017-2030)
- 15.4. Market Revenue, by Enterprise Size (2017-2030)
- 15.5. Market Revenue, by Vertical (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Offering (2017-2030)
- 16.3. Market Revenue, by Deployment Type (2017-2030)
- 16.4. Market Revenue, by Enterprise Size (2017-2030)
- 16.5. Market Revenue, by Vertical (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Offering (2017-2030)
- 17.3. Market Revenue, by Deployment Type (2017-2030)
- 17.4. Market Revenue, by Enterprise Size (2017-2030)
- 17.5. Market Revenue, by Vertical (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Offering (2017-2030)
- 18.3. Market Revenue, by Deployment Type (2017-2030)
- 18.4. Market Revenue, by Enterprise Size (2017-2030)
- 18.5. Market Revenue, by Vertical (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Offering (2017-2030)
- 19.3. Market Revenue, by Deployment Type (2017-2030)
- 19.4. Market Revenue, by Enterprise Size (2017-2030)
- 19.5. Market Revenue, by Vertical (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Offering (2017-2030)
- 20.3. Market Revenue, by Deployment Type (2017-2030)
- 20.4. Market Revenue, by Enterprise Size (2017-2030)
- 20.5. Market Revenue, by Vertical (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Offering (2017-2030)
- 21.3. Market Revenue, by Deployment Type (2017-2030)
- 21.4. Market Revenue, by Enterprise Size (2017-2030)
- 21.5. Market Revenue, by Vertical (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Offering (2017-2030)
- 22.3. Market Revenue, by Deployment Type (2017-2030)
- 22.4. Market Revenue, by Enterprise Size (2017-2030)
- 22.5. Market Revenue, by Vertical (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Offering (2017-2030)
- 23.3. Market Revenue, by Deployment Type (2017-2030)
- 23.4. Market Revenue, by Enterprise Size (2017-2030)
- 23.5. Market Revenue, by Vertical (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Offering (2017-2030)
- 24.3. Market Revenue, by Deployment Type (2017-2030)
- 24.4. Market Revenue, by Enterprise Size (2017-2030)
- 24.5. Market Revenue, by Vertical (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Offering (2017-2030)
- 25.3. Market Revenue, by Deployment Type (2017-2030)
- 25.4. Market Revenue, by Enterprise Size (2017-2030)
- 25.5. Market Revenue, by Vertical (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Offering (2017-2030)
- 26.3. Market Revenue, by Deployment Type (2017-2030)
- 26.4. Market Revenue, by Enterprise Size (2017-2030)
- 26.5. Market Revenue, by Vertical (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Offering (2017-2030)
- 27.3. Market Revenue, by Deployment Type (2017-2030)
- 27.4. Market Revenue, by Enterprise Size (2017-2030)
- 27.5. Market Revenue, by Vertical (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Offering (2017-2030)
- 28.3. Market Revenue, by Deployment Type (2017-2030)
- 28.4. Market Revenue, by Enterprise Size (2017-2030)
- 28.5. Market Revenue, by Vertical (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Salesforce.com Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Appian Corporation
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Pegasystems Inc.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Alphabet Inc.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Oracle Corporation
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. ServiceNow Inc.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Microsoft Corporation
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. MatsSoft Limited
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. AgilePoint Inc.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Outsystems Inc.
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. Caspio Inc.
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
