DUBLIN--(BUSINESS WIRE)--The "Low-Code Development Platform Market by Component (Platform and Services), Application Type, Deployment Type (Cloud and On-Premises), Organization Size (SMEs and Large Enterprises), Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global low-code development platform market is projected to grow from USD 13.2 billion in 2020 to USD 45.5 billion by 2025, at a CAGR of 28.1% during the forecast period.
This market study covers the low-code development platform market size across segments. It aims at estimating the market size and the growth potential of this market across different segments by component, application type, deployment type, organization size, industry, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Major vendors offering low-code development platform software include Salesforce (US), Microsoft (US), Appian (US), Oracle (US), Pegasystems (US), Magic Software Enterprises (US), AgilePoint (US), OutSystems (US), Zoho (India), Quick Base (US), LANSA (US), Fujitsu RunMyProcess (France), Netcall (UK), WaveMaker (US), and K2 (US).
Increasing need of digitalization and maturity of agile DevOps practices to drive the overall growth of the low-code development platform market.
The increasing need of digitalization and maturity of agile DevOps practices are expected to enhance the use of low-code development platform market across the globe. Dependency on vendor-supplied customization restraining the growth of the low-code development platform market.
By component, the platform segment to hold a larger market size in 2020
The low-code development platform simplifies the designing, modelling, and implementing of business application and refining and optimizing processes, which involves human interaction or multiple business disciplines. Therefore, the platform segment registers the highest growth rate during the forecast period.
By application type, the web-based segment to register the highest growth rate during the forecast period
Web application is considered as the face of an organization and by using the low-code development platform organizations can roll out user-defined web-based applications quickly. Instead of writing the programming language for the development of web-based applications, employees with less development experience can also create sophisticated applications. Therefore, the web-based segment holds the highest growth rate during the forecast period.
The Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global low-code development platform market during the forecast period. APAC constitutes major economies, such as China, Japan, and Australia and New Zealand, which are expected to register high growth rates in the low-code development platform market.
Industries such as government and defense, Information Technology (IT), healthcare, manufacturing, retail and eCommerce, Banking, Financial Services and Insurance (BFSI) are expected to adopt low-code development platform solutions at the highest rate in the region. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a significant impact on the business community.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Market
4.2 Low-Code Development Platform Market, by Component, 2020-2025
4.3 Market, by Application Type, 2020-2025
4.4 Market, by Deployment Type, 2020-2025
4.5 Market, by Organization Size, 2020-2025
4.6 Market, Market Share of Top Three Verticals and Regions, 2020
5 Market Overview and Industry Trends
5.2 Market Dynamics
22.214.171.124 Increasing Need for Rapid Customization and Scalability
126.96.36.199 Enterprise Mobility Enables Users to Develop a Business Application Using the Low-Code Development Platform
188.8.131.52 Elimination of Gaps in the Required IT Skills
184.108.40.206 Dependency on Vendor Supplied Customization
220.127.116.11 Growing Digital Transformation in the IT Industry
18.104.22.168 Rising Demand for Robust Solutions to Maximize the Visibility and Control Over Processes
22.214.171.124 Legacy Software Needs to be Upgraded
126.96.36.199 Selecting Right Time and Right Process to Implement Automation
5.2.5 Use Cases
188.8.131.52 Use Case: Information Technology
184.108.40.206 Use Case: Healthcare
220.127.116.11 Use Case: Manufacturing
18.104.22.168 Use Case: Telecom
22.214.171.124 Use Case: Energy and Utilities
5.2.6 Regulatory Implications
126.96.36.199 Health Insurance Portability and Accountability Act
188.8.131.52 Payment Card Industry Data Security Standard
184.108.40.206 Soc 2 Compliance
6 Impact of COVID-19 on Low-Code Development Platform Market
7 Low-Code Development Platform Market, by Component
8 Low-Code Development Platform Market, by Application Type
8.4 Desktop and Server-Based
9 Low-Code Development Platform Market, by Deployment Type
10 Low-Code Development Platform Market, by Organization Size
10.2 Large Enterprises
10.3 Small and Medium-Sized Enterprises
11 Low-Code Development Platform Market, by Industry
11.2 Banking, Financial Services and Insurance
11.3 Retail and e-Commerce
11.4 Government and Defense
11.6 Information and Technology
11.7 Energy and Utilities
12 Low-Code Development Platform Market, by Region
12.2 North America
12.4 Asia Pacific
12.5 Middle East and Africa
12.6 Latin America
13 Competitive Landscape
13.2 Competitive Leadership Mapping
13.2.1 Visionary Leaders
13.2.3 Dynamic Differentiators
13.2.4 Emerging Companies
14 Company Profiles
14.7 Magic Software Enterprises
14.12 Quick Base
14.14 Fujitsu Runmyprocess
14.19 Thinkwise Software
14.20 Micropact (Part of Tyler Technologies)
For more information about this report visit https://www.researchandmarkets.com/r/llwvr6