Low Code Development Platform Market Size, Share, Growth, Analysis, Key Players, Outlook, Report, Forecast 2021-2026


Low-code development platforms market

Low-code development platforms market

The global market for low-code development platforms will be driven by the increasing demand for digitization during the forecast period 2021-2026

30 NORTH GOULD STREET, WYOMING, UNITED STATES, Sept. 23, 2022 /EINPresswire.com/ — Expert Market Research’s new report, titled “Global Low Code Development Platform Market Size, Share, Price, Growth, Analysis, Report and Forecast 2021-2026′, provides an in-depth analysis of the global low-code development platform market and evaluates the market based on its segments such as application type, deployment type, enterprise size, end-use, and major regions.

The report tracks the latest trends in the industry and examines their impact on the overall market. It also assesses the market dynamics, covers the main demand and price indicators and analyzes the market based on the SWOT and Porter Five Forces models.

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Key highlights of the report include:

Market Overview (2016-2026)

Historical market size (2020): $16.98 billion
Forecast CAGR (2021-2026): 26%
Projected market size (2026): USD 64.56 billion

The increasing need for digitization in various business processes along with the growing demand for software developers to perform IT operations in the rapidly changing environments play a crucial role in the growth of the global low-code development platform market over the forecast period. With daily technological innovations and the scarcity of an established IT network in small businesses, low-code technologies are used to speed up operations and develop websites or applications for wide reach.

This is expected to spur market growth over the forecast period. One of the key factors driving the growth of the market is the rising demand for highly productive application development platforms to accelerate business application delivery and better customer applications. Small and medium-sized enterprises (SMEs) operating in this sector are expected to drive the growth of the market mainly due to the increasing affordability of cloud-based solutions.

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Industry definition and main segments

Low-code/no-code software development is a technique for developing applications and processes with little to no coding. A user interface with minimal logic and drag-and-drop features is called a low-code development platform. Low-code development framework is a programming environment that allows users to create software programs with graphical user interfaces and configurations without learning complex programming languages.

Read Full Report with TOC: https://www.expertmarketresearch.com/reports/low-code-development-platform-market

Based on application, the market can be segmented into:

web based
mobile based
Desktop and server based

Based on deployment type, the market can be segmented into:

On site
Cloud

Based on company size, the market can be categorized into:

Small and medium-sized businesses
Large companies

On the basis of end use, the market segmentations include:

BFSI
Retail and Ecommerce
government and defense
healthcare
information technology
Energy and Utilities
manufacturing
Other

On the basis of region, the industry is segmented into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

market trends

Increasing internet penetration, cloud computing, mobile, government initiatives and other technological advances have propelled the digital world to unprecedented levels. With the increased need for sophisticated technologies due to COVID-19, low-code development platforms are likely to gain popularity in the years to come. Also, governments around the world have started developing apps to educate citizens about COVID-19 alerts and notifications. LCDs allow developers to quickly design, test, and deploy changes.

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Low-code platforms are cost-effective in the sense that these platforms empower non-technical personnel to run the servers, eliminating the need to hire professional help and significantly reducing operational costs. Low-code application platforms play a crucial role in app development to meet the dynamics of technology by creating mobile-friendly applications that can help with virtual consultations while saving hospital costs and providing a secure network for encrypted communication. Therefore, the benefits of low-code healthcare development technology are increasingly fueling the growth of the market.

Important market participants

The major players in the market include Salesforce.com Inc., Microsoft Corporation, Oracle Corporation, Appian Corporation, and Zoho Corporation, among others. The report covers the market shares, capacities, asset turnover, expansions, investments and mergers and acquisitions among other latest developments of these market players.

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