Low code development platforms provide an environment for developing application software through a graphical user interface instead of traditional computer programming. These platforms are visualization-centric and empower users with limited or no prior coding experience to develop application software and digital processes. They provide powerful development tools with graphical UI elements like buttons, text fields, charts and tables to enable faster development and empower non-developers to build applications. Key features include easy configuration, visual workflows, procedural programming logic and integration capability with third-party services.

The Global Low Code Development Platform Market is estimated to be valued at US$ 15.63 Bn in 2024 and is expected to exhibit a CAGR of 29.% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Low Code Development Platform are Appian Corporation, Betty Blocks, Creatio, LANSA, Mendix Technology BV, Microsoft Corporation, Oracle Corporation, OutSystems Inc., Pegasystems Inc., Quickbase, Salesforce, Inc., ServiceNow Inc., Zoho Corporation Pvt. Ltd., and AgilePoint Inc. These players are focused on developing and enhancing their offerings to meet the growing demand from industries.

The Low Code Development Platform Market Demand for low code development is increasing owing to growing need for application development and IT automation across industries like banking, insurance and healthcare. Low code enables businesses to save time and costs associated with development through simplification of the software development process.

Advancements in artificial intelligence, machine learning and integration with cloud are helping low code development platforms provide more powerful and intelligent capabilities to the users. Features like intelligent recommendations, process automation, reusable components and predictive capabilities are enhancing developer productivity.

Market Trends

Migration to cloud native platforms is a key trend witnessed in the market. Majority of the players are offering cloud based low code development platforms to provide easy accessibility and collaboration. Integration of low code platforms with other technologies like robotic process automation, artificial intelligence and blockchain is also gaining traction.

Market Opportunities

 
Increasing focus on digital transformation by businesses and growing demand for non-developer staff to automate Low Code Development Platform Market Challenges And Opportunities processes are key growth opportunities. Rapid mobile application development for multiple platforms also presents an untapped potential. Emergence of citizen developers willing to build applications in specific domains also promotes scope for specialized low code platforms.

COVID-19 Impact on Low Code Development Platform Market

The COVID-19 pandemic has significantly impacted the growth of the low code development platform market. With lockdowns imposed worldwide and travel restrictions, enterprises were forced to accelerate their digital transformation initiatives and shift to remote working models. This increased the demand for low code platforms from organizations to develop and deploy applications quickly without requiring specialized programming skills and significant time and cost investments. Low code platforms enabled enterprises to build mobile and web applications for facilitating remote collaboration, communication, and productivity.

However, in the initial months of the pandemic, the market experienced slow growth due to supply chain disruptions and economic uncertainties. With lockdowns imposed, enterprises reduced their IT budgets and delayed investments in new technologies. This led to a decline in new deals and subscriptions for low code platforms during 2020. As the pandemic continued through 2021, enterprises increasingly adopted a hybrid work model. This renewed focus on digital technologies and again accelerated the demand for low code tools to empower citizen developers and rapidly innovate business applications.

Going forward, enterprises are expected to continue investing in low code technologies to sustain hybrid work environments. Platform vendors will need to enhance capabilities for building complex enterprise applications, facilitating collaboration across teams, ensuring security, and managing application lifecycles at scale. Partner ecosystem expansion and lowering skill barriers for low code tools will further fuel the market growth in the post-COVID era.

Geographical Regions with Highest Investments in Low Code Development Platform Market

North America currently holds the largest share of the overall low code development platform market in terms of value. This can be attributed to advanced IT infrastructure, rapid technological adoption, and presence of leading low code vendors in the region. Enterprises in the US and Canada are heavily investing in low code tools to modernize legacy systems and automate business processes.

The Asia Pacific region is anticipated to emerge as the fastest growing market for low code platforms during the forecast period. Countries like India, China, Japan, and Australia are undergoing significant digital transformations. Furthermore, growing tech startup ecosystems and rise of digital innovations are stimulating the demand for low code tools in APAC. Public and private sector organizations are increasingly leveraging low code platforms to solve business challenges and stay ahead of the competition curve in this dynamic region.

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)