What Does the Historical and Current Low-Code Development Platform Market Size Trend Indicate?
The low-code development platform market has seen considerable growth due to a variety of factors.
• The market size for the low-code development platform has experienced substantial growth recently, expanding from $39.64 billion in 2024 to a projected $50.31 billion in 2025. This translates to a compound annual growth rate (CAGR) of 26.9%.
The significant growth during the historical period is due to a surge in demand for swift application development, a lack of proficient developers, economic efficiency in application creation, agility and adaptability, the enhancement of business end-users, an easy-to-use development setting, and integration abilities.
How Will the Low-Code Development Platform Market Size Evolve over the Forecast Period?
The low-code development platform market is expected to maintain its strong growth trajectory in upcoming years.
• The low-code development platform marketplace is predicted to significantly expand in the upcoming years, with an anticipated valuation of $157.66 billion by 2029. The projected compound annual growth rate (CAGR) stands at 33.0%.
This projected growth during the prediction period can be ascribed to factors such as the development across various platforms, a heightened emphasis on security, the advancement of industry-specific solutions, a dynamic regulatory environment, a focus on scalability, and the emergence of open-source low-code solutions. Among the key trends expected in the forecast period are the swift adoption of low-code platforms, integration with DevOps practices, the proliferation of mobile app development, security improvements in low-code solutions, growth of the ecosystem and integration of the marketplace, cooperation and team-oriented development, improved user experience, design tools, and vendor partnerships and mergers.
What Factors Are Driving Growth In The Low-Code Development Platform Market?
The anticipated upturn in the necessity for software in business entities is predicted to stimulate the growth of the low-code development platform market in the approaching years. Low code is a software based on code that permits business unit streamlined business procedure users to rapidly formulate and supervise applications with minimal manual coding. The bureau of labor statistics, a US department of labor, suggested a possible deficit of 1.2 million engineers by 2026. Also, only 39.6% of applicants are completely qualified for IT job openings, according to the employer's criteria. As a result, it is expected that this situation would bring about a need for low code platforms, which enable tasks to be executed precisely and automatically.
What Are The Main Segments Of The Global Low-Code Development Platform Market?
The low-code development platform market 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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What Emerging Trends Are Influencing The Growth Of The Low-Code Development Platform Market?
Advances in technology are influencing the market for low-code development platforms. The amalgamation of AI offers a chance to utilize low-code development platforms in a multitude of applications, such as tackling intricate functions, tagging content through keywords or colors, and adding details in templates. AI is harnessed to construct a low-code development platform that amalgamates legacy systems by reducing technical complexities. For example, Aurachain, a company headquartered in Switzerland that provides a business process management platform reliant on blockchain, announced the launch of an AI-powered low-code platform in November 2023. This fresh feature shows Aurachain's commitment to providing outstanding service for both seasoned and amateur developers. It enhances the efficacy of low-code development, proving particularly adept at managing intricate and tailored processes and applications.
Who Are the Key Players in the Low-Code Development Platform Market?
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.
What Is The Most Dominant Region In The Low-Code Development Platform Market?
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
