Low Code Development Platform Market by Product and Geography - Forecast and Analysis 2022-2026

Low Code Development Platform Market Research Report 2022-2026

At an accelerating CAGR of 27.96%, the low code development platform market share is expected to increase by USD 35.73 billion from 2021 to 2026. This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

This low code development platform report extensively covers market segmentation by product (platform and services) and geography (North America, APAC, Europe, South America, and Middle East and Africa).

The low code development platform (LCDP) market vendors studied and compiled in this report include AgilePoint Inc., Appian Corp., Aura Difusion SL, Betty Blocks BV, CREATIO EMEA Ltd., Cybozu Inc., Fujitsu Ltd., Idera Inc., Magic Software Enterprises Ltd., Mendix Technology BV, Microsoft Corp., Netcall plc, Newgen Software Technologies Ltd., Nintex Global Ltd., Oracle Corp., OutSystems Software em Rede SA, Pegasystems Inc., Pramati Software Pvt. Ltd., Quickbase Inc., Salesforce.com Inc., ServiceNow Inc., Skuid Inc., Thinkwise Innovation B.V., TrackVia Inc., Tyler Technologies Inc., and Zoho Corp. Pvt. Ltd. among others.

What will the Low Code Development Platform Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global low code development platform market as a part of the global systems software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the low code development platform market during the forecast period.

Who are the Major Low Code Development Platform Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• AgilePoint Inc.
• Appian Corp.
• Aura Difusion SL
• Betty Blocks BV
• CREATIO EMEA Ltd.
• Cybozu Inc.
• Fujitsu Ltd.
• Idera Inc.
• Magic Software Enterprises Ltd.
• Mendix Technology BV
• Microsoft Corp.
• Netcall plc
• Newgen Software Technologies Ltd.
• Nintex Global Ltd.
• Oracle Corp.
• OutSystems Software em Rede SA
• Pegasystems Inc.
• Pramati Software Pvt. Ltd.
• Quickbase Inc.
• Salesforce.com Inc.
• ServiceNow Inc.
• Skuid Inc.
• Thinkwise Innovation B.V.
• TrackVia Inc.
• Tyler Technologies Inc.
• Zoho Corp. Pvt. Ltd.

 

This statistical study of the LCDP market encompasses successful business strategies deployed by the key vendors. The low code development platform market is fragmented and the vendors are deploying growth strategies such as technological advancements to compete in the market.

Product Insights and News

• Appian Corp. - The company offers a low code development platform for designing enterprise-ready apps, building UIs, and integrating people, technologies, data, and systems into a single workflow.
• Appian Corp. - Under the unified segment, the company provides a low code platform that accelerates the creation of high-impact business applications and workflows.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The low code development platform market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Low Code Development Platform Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the low code development platform market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Low Code Development Platform Market?

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48% of the market's growth will originate from North America during the forecast period. The US is the key market for low code development platforms in North America. Market growth in this region will be faster than the growth of the market in South America, Europe, and the MEA.

The increasing establishment of data centers and the adoption of technologies such as IoT, artificial intelligence (AI), and the Fifth generation (5G) will facilitate the low code development platform market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the low code development platform market in North America witnessed a slow growth, owing to the outbreak of COVID-19. The pandemic created a lethal scenario across North America, which has compelled governments to impose nationwide lockdowns to contain the spread of the disease. However, with the initiation of large-scale COVID-19 vaccination drives and the lifting of lockdown restrictions from Q4 2020, several end-user industries have resumed their operations, which has led to a surge in the demand for low code development platforms in the region. Thus, the regional low code development platform market is expected to grow moderately during the forecast period.

What are the Revenue-generating Product Segments in the Low Code Development Platform Market?

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The low code development platform market share growth by the platform segment will be significant during the forecast period. Platforms help in developing applications to implement the best practices for customer service and measure the performance of key metrics, including market attribution, ad-campaign effectiveness, return on investment (RoI), and monitor the performance of the sales force in sales and marketing organizations. Therefore, the platform segment is expected to witness growth during the forecast years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the low code development platform market size and actionable market insights on post COVID-19 impact on each segment.

Low Code Development Platform Market: Key Drivers, Trends, and Challenges

The pricing strategies of vendors is notably driving the low code development platform market growth, although factors such as low skillset in emerging economies may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the low code development platform industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Low Code Development Platform Market Driver

• One of the key factors driving the global low code development platform industry growth is the pricing strategies of vendors.
• The high price of the software and constrained IT budgets have led the vendors to re-evaluate software pricing and delivery models.
• Visual LANSA has a three-tiered pricing structure which is USD 16.66 per user per month.
• The customers focus on certain economic and market factors such as ROI, the ability to opt for free models, and constrained IT budgets while implementing such a platform.
• The vendors have to accommodate varying customer pricing preferences and budgets.
• Vendors are providing SaaS, commercial open-source models, and term licensing to be in sync with the changing demands.
• The varying pricing structures of the low code development platform will increase its adoption among end-users during the forecast period.

Key Low Code Development Platform Market Trend

• Surge in digital transformation in the IT industry is one of the key low code development platform market trends that is expected to impact the industry positively in the forecast period.
• IT solutions, telecommunication network infrastructure, banking and finance, healthcare, utilities, retail, and healthcare, and many other industries are aggressively investing in low code development platforms.
• The governments are also working on a collaboration with market participants to accelerate the deployment of 5G technology.
• In May 2021, the Abu Dhabi Investment Office announced the launch of Amazon Web Services for the cloud to transform digital infrastructure to boost the digital economy.
• The digital transformation is anticipated to be a highly valued edge computing service across end-user industries.
• The quicker processing power and smaller form factors by moving processing power to the cloud via mobile cloud computing nodes will benefit the users during the forecast period. 

Key Low Code Development Platform Market Challenge

• One of the key challenges to the global low code development platform industry growth is the low skillset in emerging economies.
• One of the major limitations of a low code development platform is customization. The vendor that is designing the low code development platform must understand the needs and objectives of the organization for whom it is designing the program.
• The low code development is much more constraint when building custom software owing to the limitation of the hardware and the capabilities of the native language for the developers.
• The lack of skills and awareness to work with it among various lower-level employees, especially in industries such as retail and construction may hamper its adoption.
• Failure to understand the needs can result in the wastage of resources. Such factors can reduce employee engagement and motivation and result in minimal or no skill enhancement among the developers, which, in turn, will restrain the growth of the global low code development platform market during the forecast period.

This low code development platform market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Low Code Development Platform Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 27.96%
Market growth 2022-2026	$ 35.73 billion
Market structure	Fragmented
YoY growth (%)	26.57
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	North America at 48%
Key consumer countries	US, China, Japan, UK, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AgilePoint Inc., Appian Corp., Aura Difusion SL, Betty Blocks BV, CREATIO EMEA Ltd., Cybozu Inc., Fujitsu Ltd., Idera Inc., Magic Software Enterprises Ltd., Mendix Technology BV, Microsoft Corp., Netcall plc, Newgen Software Technologies Ltd., Nintex Global Ltd., Oracle Corp., OutSystems Software em Rede SA, Pegasystems Inc., Pramati Software Pvt. Ltd., Quickbase Inc., Salesforce.com Inc., ServiceNow Inc., Skuid Inc., Thinkwise Innovation B.V., TrackVia Inc., Tyler Technologies Inc., and Zoho Corp. Pvt. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Low Code Development Platform Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive low code development platform market growth during the next five years
• Precise estimation of the low code development platform market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the low code development platform industry across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of low code development platform market vendors

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