DUBLIN--(BUSINESS WIRE)--The "Rapid Application Development Market by Type (Low-code and No-code), Tool (Mobile-based, Web-based, Desktop-based, and Server-based), Business Function, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global rapid application development market is projected to grow from USD 7.8 billion in 2018 to USD 46.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 42.9% during the forecast period.
The key factors driving the rapid application development market include rising need for customized applications and expanding BYOD into enterprise have changed the mobile landscape, thus accelerating the adoption of rapid application development. Furthermore, the growing accessibility to business applications, services, and data on-the-go is a major factor for growing business mobility.
The study includes in-depth competitive analysis of these key players in the rapid application development market with their company profiles, recent developments, and key market strategies.
Utilization of advanced technologies, such as Cloud, Internet of Things (IoT), big data and analytics, mobility, and social media, leading innovation and thereby eliciting a positive growth in the business ecosystem
Enterprises have started incorporating big data and BI to obtain real-time information, gain actionable insights, understand customer requirements, and facilitate growth in their overall productivity. This has led to an increase in demand for digital transformation solutions in various industry verticals. The rise in digital transformation has led organizations to meet the need of clients instantly, and is one of the major factors leading to the growing adoption of cloud based RAD tools.
Flexibility to customize solutions as per an organization's dynamic requirements along with security and privacy, is driving implementation of RAD for sales and marketing solutions
RAD applications are scattered across diverse business functions that are designed to replenish the unique demands of the business segments. RAD platforms help create various applications to analyze marketing initiatives and measure the performance of key metrics, such as market attribution, RoI, and ad-campaign effectiveness. Sales organizations reap the benefits of RAD platforms by developing applications to implement the best practices for customer service and monitor the performance of the sales force.
SMEs in APAC have realized the benefits of cloud computing and are migrating their applications to cloud to drive business results and improve their efficiency and productivity
The growing existence of large enterprises, increasing technical expertise, application modernization, enhanced services, and expanding cloud based service providers are some factors that is leading to tremendous growth in the APAC region. China, Japan, India, and Singapore are major countries in the region to adopt the latest technologies.
Being a growing market with a reliable workforce, the rapid application development vendors have shown their interest in establishing the market in this country. Also, the robust growth of the industrial and manufacturing sectors in this region and the need to eliminate repetitive tasks are also expected to contribute to the growth of the market in this region.
Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Rapid Application Development Market
4.2 Market By Deployment Model, 2018
4.3 North America Market, By Component and By Type
4.4 Market Share Across Regions
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need for Rapid Customization and Scalability
5.2.1.2 Enterprise Mobility to Drive the Adoption of Smartphones in Businesses
5.2.1.3 Elimination of Gaps in the Required IT Skills
5.2.2 Restraints
5.2.2.1 Dependency on Vendor-Supplied Customization
5.2.3 Opportunities
5.2.3.1 Growing Digital Transformation in the IT Industry
5.2.4 Challenges
5.2.4.1 Legacy Software in Need of Upgradation
5.3 Use Cases
5.4 Regulatory Implications
5.5 Future Outlook
6 Rapid Application Development Market, By Type
6.1 Introduction
6.2 Low-Code Development Platforms
6.3 No-Code Development Platforms
7 Rapid Application Development Market, By Component
7.1 Introduction
7.2 Tools
7.3 Services
8 Rapid Application Development Market, By Business Function
8.1 Introduction
8.2 Sales and Marketing
8.3 HR and Operations
8.4 Finance
8.5 IT
9 Rapid Application Development Market, By Deployment Model
9.1 Introduction
9.2 Cloud
9.3 On-Premises
10 Rapid Application Development Market, By Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.3 Large Enterprises
11 Rapid Application Development Market, By Industry Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Manufacturing and Automotive
11.4 Retail and Consumer Goods
11.5 Telecommunications and IT
11.6 Government and Public Sector
11.7 Healthcare
11.8 Media and Entertainment
11.9 Education
12 Rapid Application Development Market, By Region
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.5 Middle East and Africa
12.6 Latin America
13 Competitive Landscape
13.1 Competitive Leadership Mapping
13.2 Strength of Product Portfolio
13.3 Business Strategy Excellence
14 Company Profiles
14.1 Microsoft
14.2 AWS
14.3 Oracle
14.4 IBM
14.5 Google
14.6 Salesforce
14.7 Appian
14.8 Zoho Corporation
14.9 Kissflow
14.10 Outsystems
14.11 Mendix
14.12 Lansa
14.13 Kony
14.14 ORO
14.15 Matssoft
For more information about this report visit https://www.researchandmarkets.com/research/j3lzl5/rapid_application?w=4
