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

Low Code Development Platform Market

The Global Low Code Development Platform Market to be Driven by Growing Need for Digitization During the Forecast Period 2021-2026

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

The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s 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%
Forecast market size (2026): USD 64.56 billion

Growing need for digitization in various business processes, along with increasing demand for software developers to perform IT operations in fast-paced environments, plays a crucial role in driving the growth of the global low-code development platform market during the forecast period. . With daily technological innovations and the rarity of an established computer network in small businesses, low-code technologies are being deployed to speed up operations as a means of developing wide-reaching websites or applications.

This is expected to boost the growth of the market over the forecast period. One of the key factors driving the growth of the market is the growing demand for high productivity application development platforms to accelerate the delivery of business applications and for better client applications. Small and medium-sized enterprises (SMEs) operating in the sector are expected to drive the growth of the market, primarily due to the growing accessibility of cloud-based solutions.

Industry definition and major segments

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

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Based on Application, the market can be segmented into:

web-based
Mobile-based
Desktop computer and server

The market, based on the type of deployment, can be divided into:

On the site
Cloud

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

Small and medium enterprises
Large companies

Based on end use, market segmentations include:

BFSI
Retail and e-commerce
Government and Defense
Health care
Computer science
Energy and Utilities
Manufacturing
Others

Based on region, the industry is divided into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Market trends

Growing internet penetration, cloud computing, mobile telephony, government initiatives and other technological advancements have propelled the digital world to unprecedented levels. With the increased need for sophisticated technologies due to COVID-19, low-code development platforms are expected to grow in popularity in the coming years. Additionally, governments around the world have started developing apps to educate citizens about COVID-19 warnings and notifications. LCDs allow developers to design, test, and release changes quickly.

Low-code platforms are cost-effective in that they allow non-technical personnel to operate servers by eliminating the need to hire professional help, while significantly reducing ownership costs. Low-code application platforms play a vital role in application development to respond to the dynamics of technology by creating mobile-friendly applications that can facilitate virtual consultations while reducing hospitalization costs and by providing a secure network for encrypted communications. Therefore, the benefits of low-code development technology in the healthcare industry are increasingly increasing the market growth.

Main market players

The major market players are Salesforce.com Inc., Microsoft Corporation, Oracle Corporation, Appian Corporation, and Zoho Corporation, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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