STAMFORD, Conn.--(BUSINESS WIRE)--More enterprises are turning to low-code/no-code software development as their need for applications outgrows the supply of coding talent, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The 2022 ISG Provider Lens™ Next-Gen ADM Solutions global report finds the worldwide market for low-code/no-code development platforms, which accelerate development and often allow non-technical employees to write applications, is valued at nearly US $15 billion and expected to quadruple in the next five years. Demand for low-code/no-code platforms has not eaten into the overall applications services market but instead has expanded it, the report says.
“The low-code/no-code market is still in its infancy,” said Prashant Kelker, partner and lead, ISG Digital Sourcing and Solutions. “Companies are just beginning to democratize software development so groups outside of IT can safely build and scale technology solutions.”
Enterprises in consumer services, financial services, manufacturing and energy are among the leading adopters of low-code/no-code platforms, which have been gaining momentum over the past five years, the report says. The U.S. is a key market, and many providers are focusing on countries in the Asia Pacific region, including China, India and Australia, as the next growth markets.
Low-code/no-code platforms deliver measurable benefits in speed, convenience and cost, the report says. They allow applications to be written in a small fraction of the time needed for full-stack development, with far less hand-coding. Development costs can be cut by 70 percent.
By giving non-IT departments an on-ramp to app development, these platforms allow enterprises to add new IT capabilities quickly without the need to coordinate all modernization efforts across the organization, the report says. Full-scale IT modernization typically takes 12 to 24 months, but employees can bring significant benefits to their own department’s operations using low-code/no-code tools in as little as three days. Many providers are introducing reusable packaged components to make development even easier.
“The developer of the application is the user, so they know the requirements and can deliver on them almost immediately,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research.
The report examines many trends and concerns around low-code/no-code platforms, including common and emerging features, benefits for software testing and the hazards of vendor lock-in.
For insights into the main challenges companies are addressing with low-code/no-code development and advice on what to look for in a platform provider, see the ISG Provider Lens™ Focal Points briefing here.
The 2022 ISG Provider Lens™ Next-Gen ADM Solutions global report evaluates the capabilities of 20 providers across one quadrant: Low-code/No-code Development Platforms.
The report names Appian, Mendix, Microsoft, Oracle, OutSystems, Salesforce, UiPath and Zoho and as Leaders in the quadrant.
In addition, Airtable and Genexus are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition.
The 2022 ISG Provider Lens™ Next-gen ADM Solutions global report is available to subscribers or for one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.