Low-Code No-Code Development Platform Market to Grow with a CAGR of 26.12% Globally through to 2028
Low-Code No-Code Development Platform increasing due to the growing demand for
rapid application development in the forecast period, 2024-2028.
According to TechSci Research report, “Global Low-Code
No-Code Development Platform Market - Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028 Global Low-Code No-Code Development Platform market
has witnessed tremendous growth in recent years, reaching a valuation of USD 12.62
billion in 2022. The market is projected to continue its strong upward
trajectory, posting a CAGR of 26.12% from 2024 to 2028.
Global Low-Code No-Code Development Platform market
has witnessed significant growth in recent years, fueled by its widespread
adoption across various industries globally. Critical sectors such as IT,
telecommunications, banking and finance, healthcare, and government have come
to recognize Low-Code No-Code Development Platforms as vital tools for
optimizing application development processes and improving productivity.
Stricter regulations around data privacy and security
have compelled large organizations to make substantial investments in digital
transformation initiatives. Businesses worldwide rely on robust Low-Code
No-Code Development Platforms to quickly develop secure applications and ensure
regulatory compliance.
To address unique business and development challenges,
Low-Code No-Code vendors are partnering with end-user industries to develop
customized solutions. These collaborations have resulted in integrated
platforms empowering rapid application development, predictive analytics, and
streamlined management processes. Advanced Low-Code No-Code Development
Platforms equipped with AI/ML tools enable data-driven decision making and
oversight of application portfolios.
The development of innovative applications such as
workflow automation, change management integration, and visual modeling is also
fueling market demand. Such solutions allow organizations to improve metrics
including time-to-market, development costs, and application quality.
Integration of Low-Code No-Code capabilities with
cloud platforms, mobile technologies, and assistive tools is poised to
revolutionize application development and optimize resource allocation. This
fusion of technologies promises improved development efficiency, higher
productivity, and analytics-driven maintenance.
Government policies promoting digital transformation,
data security, and privacy will continue driving investments in Low-Code
No-Code Development Platforms. As critical industries increasingly rely on
technology-enabled processes, demand for advanced Low-Code No-Code solutions is
projected to rise substantially over the coming years.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Low-Code
No-Code Development Platform Market.”
The global Low-Code No-Code Development
Platform market has been segmented based on type, deployment type, vertical,
and region.
By type, the market is divided into
low-code platforms and no-code platforms. In 2022, the low-code platforms
segment dominated the market with the highest share as they provide flexibility
while requiring minimal coding skills.
In terms of deployment type, the market
is bifurcated into on-premises and cloud-based deployment. The cloud-based
deployment type segment held the largest share in 2022 owing to advantages like
scalability, improved security, and lower costs.
Based on vertical, the key industries
utilizing low-code no-code platforms include BFSI, healthcare, IT &
telecom, manufacturing, education, and construction & real estate. The BFSI
segment accounted for a significant revenue share due to the widespread use of
these platforms for fintech applications and digital transformation
initiatives.
The education vertical is expected to
grow at the fastest rate during the forecast period. This is attributed to
increasing adoption of low-code platforms to develop customized learning
management systems, educational apps, and other digital solutions.
In conclusion, while low-code platforms
and cloud-based deployment dominated the market in 2022, the education vertical
is poised to provide lucrative opportunities with its high growth rate in the
coming years on the back of advancing digitalization in the education industry.
Major companies operating in Global Low-Code
No-Code Development Platform Market are:
- Microsoft Corporation
- Salesforce.com Inc
- Creatio
- K2 Software Inc
- Zoho Corporation Pvt. Ltd
- PEGASYSTEMS INC
- OutSystems
- Mendix Tech BV
- Appian
- Quick Base
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“Global Low-Code No-Code Development Platform market
has witnessed rapid growth fueled by increasing digital transformation across
critical industries. Organizations across manufacturing, oil & gas, and
other sectors have increasingly relied on advanced low-code platforms to
optimize application development processes and IT strategies through
data-driven insights.
Low-code platforms enable real-time access to
centralized metrics on application portfolios, analytics dashboards, and asset
profiles. This allows organizations to generate predictive risk assessments,
automate governance workflows, and ensure regulatory compliance. Such solutions
help customize development protocols, streamline administrative processes for
engagement, and strengthen overall application management.
Leading companies have partnered with major low-code
vendors to digitally transform their IT infrastructure and application delivery
platforms. The integrated systems improve cross-team collaboration, provide
situational awareness through customized portals, and facilitate achievement of
business goals.
Vendors continue advancing their solutions through
innovations in areas like AI/ML, predictive maintenance, and cybersecurity.
This ensures secure, scalable, and interoperable solutions for diverse
development needs across business units and application types. Ongoing
innovation and growing reliance on digital strategies indicate low-code
platforms will play an increasingly important role in optimizing IT
management.
Partnerships and alignment with emerging industry
standards are expected to sustain the high momentum of this market. The
long-term outlook for low-code platforms in empowering development excellence
remains positive as digital transformation continues to reshape critical industries.”
Said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Low-Code
No-Code Development Platform Market by
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Type (Low-code
platforms, No-code platforms), By Deployment Type (On-premises,
cloud-based), By Vertical (BFSI, Healthcare, IT & Telecom, Manufacturing, Education,
Construction & Real Estate, Others )
By Region, By Competition”, has evaluated the future growth potential of Global
Low-Code No-Code Development Platform Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Low-Code No-Code Development Platform Market.
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