US Low-Code Development Platform Market Size & Share, Latest Technology Advancements, Future Growth and Developments 2020 to 2025

By Digvijay Chakravarty 31 Jul 2020 Top stories,Business,Technology

Low-Code Development Platform Market delivers a succinct analysis of industry size, regional growth and revenue forecasts for the upcoming years. The report further sheds light on significant challenges and the latest growth strategies adopted by manufacturers who are a part of the competitive spectrum of this business domain.

Low-Code Development Platform Market is valued at USD 7.87 Billion in 2018 and expected to reach USD 47.31 Billion by 2025 with the CAGR of 29.2% over the forecast period.

Increasing demand of software’s and web applications for the business organization with rising number of internet users as well as surge in the information technology platforms with the advanced technology & digitalization are some important factor driving the growth of Low-code development platform market.

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Low-code Development Platform Market Top Key Vendors

low-code development platform market reports cover prominent players like,

  • Salesforce
  • LANSA
  • Fujitsu RunMyProcess
  • Netcall
  • WaveMaker
  • Magic Software Enterprises
  • AgilePoint
  • OutSystems
  • Zoho
  • Quick Base
  • Microsoft
  • Appian
  • Oracle
  • Pegasystems

Low-code development platform are digital platforms that provides various applications like graphical user interface for programming to develop the code at a very fast rate by eliminating efforts of  the traditional method of programming. There are various tools provides lo-code development facility for fast development of code by minimizing hand-coding efforts. These platforms help with coding, quick setup and deployment for various software by eliminating to write the program code line-by-line. To draw a flowchart and the code development are being faster with this method. This low-code development has various benefits including help organizations in improving their agility, high productivity, decreases the cost of development of more applications in lesser time, and reduces the complexity of the application development process. This platform is used to solve critical and complex solutions for the ease the business processes from small scale enterprises to large corporations to optimize the operations of web and mobile solutions.

The US low-code development platform is segmented on the basis of component type, application, type of organizations, end-user and region and country level. On the basis of type, the digital market is classifies as platforms and services. On the basis of application, the market is segmented into Web-based, cloud based, mobile-based, desktop and server-based. On the basis of type of organizations, the market is segmented into Small and Medium-Sized Enterprises (SMEs) and Large Enterprises. On the basis of end-user, the US Low-code development platform market is divided into Healthcare, IT, BFSI, Retail and e-Commerce, Government and Defense, Energy and Utilities, Manufacturing and others.

The regions covered in US low-code development platform market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, US Low-code development platform market sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

US low-code development platform market reports cover prominent players like Salesforce, LANSA, Fujitsu RunMyProcess, Netcall, WaveMaker, Magic Software Enterprises, AgilePoint, OutSystems, Zoho, Quick Base, Microsoft, Appian, Oracle, Pegasystems, and many others.

 

Low-code development platform market dynamics –

The key factor for growth of US Low-code development platform market is the Increasing demand of software’s and web applications for the business organization with rising number of internet users with mobile based applications, as well as surge in the information technology platforms with the advanced technology & digitalization. According to the CompTIA organization in 2020, the US information technology industry is expected to reach USD 5.2 trillion which directly responsible for the growth of Low-code development platform in this sector. In addition to this, the major driving factor of low-code development platform is rapidly increasing digitalization with advanced technology. According to United Nations Conference on Trade and Development (UNCTAD), digital platforms companies are increasing rapidly in the world economy, the market capitalization of these companies were USD 7 trillion in 2017 which was USD 100 million more than with 67 percent higher than in 2015.  This massive rise in digital technology will generate huge opportunity for the low-code development platform for organizations to optimize and automate their business processes by digitalization. However one of the major factors that restrict the Low-code development platform market is its alternate methods available in the market like customized apps, visual modeling tools and others. Moreover rising focus on digitalization of the every sector with technological advancement using artificial intelligence, BI, IoT, machine learning etc. for BFSI, retails, automotive, military and defense industries have created huge opportunity to fuel the US Low-code development platform market during the forecast period.

Low-code development platform Market Regional Analysis –

North America is expected to dominate the growth low-code development platform market with the potential rate owing to surge in information technology services with technological advancement using IoT, artificial intelligence etc. due to presence of leading IT players in this region, early adoption of advanced technology in this region followed by Europe. According to UNCTAD, the United States and China together are responsible for the 40% world total digital, information and communications technology as of 2015 and is continuously growing with huge investments in advanced technologies. According to the CompTIA organization, the United States is the world’s largest tech market accounted around 32% of the total US technology shares with an estimation of approximately USD 1.7 trillion for 2020 the size of the U.S. market. This all factors contribute to develop and update with low code development platforms market in this region followed by Europe. Europe region is also a significant contributor for the growth of low-code development platform due to rising adoption of advanced technology and internet users. Europe accounts for approximately one of every five technology dollars spent worldwide.

The Asia Pacific is the largest still the world's strongest growth market for the growth of low-code development platforms due to rapidly adoption of advanced technology like AI, IoT etc., growing number of mobile based applications & internet users as well as surge in population. According to the US System for Mobile Communications (GSMA) in 2018, around 300 million people were connected to mobile internet which brought the total mobile connected population to approximately 3.5 billion people around the globe. This mobile internet adoption was higher especially in low- and middle income countries from Asia Pacific region which creates the huge market opportunity for developing mobile based applications using low-code development simplified and easier platforms for programming.

Key Benefits for Low-code development platform Market Reports –

US low-code development platform market report covers in depth historical and forecast analysis.

US low-code development platform Market research report provides detail information about Market Introduction, Market Summary, US market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.

US low-code development platform market report helps to identify opportunities in market place.

US Low-code development platform market report covers extensive analysis of emerging trends and competitive landscape.

Low-code development platform Market Segmentation –

by Component Type-  Platforms, Services

by Applications- Web-based, Cloud based, Mobile-based, Desktop, Server-based

by Type of Organizations- Small and Medium-Sized Enterprises (SMEs), Large Enterprises

by End-user- Healthcare, IT, BFSI, Retail and e-Commerce, Government and Defense, Energy and Utilities, Manufacturing, Others

By Regional & Country Analysis

North America, US, Mexico, Chily, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, South Korea, Japan, India, Southeast Asia, Latin America, Brazil, The Middle East and Africa, GCC

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Digvijay Chakravarty

Digvijay Chakravarty presently develops content for a slew of portals, including businessstatsnews and Industry Stats Report. A post graduate in mathematics and business administration. As a content writer, he currently writes articles pertaining to the latest industry news, business trends, and market research.

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