Low-Code Development Platform Market Overview
As per Maximize Market Research, a global business research and consultancy firm, the total global market for “ Low-Code Development Platform Market” size was valued at USD 22.04 Bn. in 2022 and the total Low-Code Development Platform revenue is expected to grow at 27.8% from 2023 to 2029, reaching nearly USD 122.75 Bn.
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Low-Code Development Platform Market Scope and Methodology
To understand market estimations and growth rates bottom-up approach was used in the report A detailed analysis is conducted on the drivers, restraints, opportunities, and challenges of the Low-Code Development Platform Market. The revenue, financial standing, portfolio, technology adoption, merger and acquisition, joint ventures and strategic alliances of the top players in the market as well as their local market shares, are all included in the competitive environment for the Low-Code Development Platform market.
Regional analysis of the Low-Code Development Platform market conducted at a local, regional and global level. The competitive analysis is conducted to understand the growth models and strategies used by key players and also provides a detailed analysis of the dominant market share and penetration in the market. The report also offers information on the emerging regions that are expected to be major markets for the Low-Code Development Platform market.
The primary and secondary data sources with qualitative and quantitative analysis are used in the report. Primary research is conducted from questionnaires and telephonic interviews with market leaders, business owners, etc., while secondary research includes financial reports annual reports, white papers, etc. The report presented the SWOT, PORTER and PESTLE Analysis with the potential impact of macro-economic factors on the Low-Code Development Platform market. SWOT analysis is used to identify the threats and weaknesses of the market while PORTER is used to determine the competitive intensity of the industry in the Low-Code Development Platform Market.
Low-Code Development Platform Market Dynamics
The increased emphasis on improving business operations drives digitization throughout organisations worldwide. Regardless of industry, all firms are providing digital tools to their workers, employees, and staff. Businesses employ technological innovation to improve services and increase revenue by simplifying labour operations. According to Dell's Digital Transformation Index, 8 out of 10 businesses will have progressed their digital transformation by 2020.
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Low-Code Development Platform Market Regional Insights
The Low-Code Development Platform market is broadly segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Regional Analysis provides the Low-Code Development Platform market status of various countries included in the report. The report includes a thorough analysis of all the factors, market size, growth rate, and import and export in regions.
Low-Code Development Platform Market Segmentation
Due to the increasing requirement to digitise financial services such as origination, client onboarding, self-service, back office operations, and so on, the BFSI category maintained the greatest revenue share of more than 30% in 2022. They are becoming more interested in low-code development platforms in order to improve user experiences, reduce operational costs, increase organisational agility, and reduce time to market.
The many generations of technical advances have dramatically impacted the way financial service (FS) organisations create value for their clients, employees, and other stakeholders. The ongoing need to innovate, meet regulatory requirements, and solve problems faster than ever before is increasing demand for apps and software solutions. Financial services firms are increasingly turning to minimal-code platforms for rapid application development.
Global Low-Code Development Platform Market, by Component (2022-2029)
• Solution
• Services
Global Low-Code Development Platform Market, by Organization Size (2022-2029)
• Small And Medium-Sized Enterprises (SMEs)
• Large Enterprises
Global Low-Code Development Platform Market, by Deployment Mode (2022-2029)
• Cloud
• On-premises
Global Low-Code Development Platform Market, by Application Type (2022-2029)
• Web-Based
• Mobile-Based
Global Low-Code Development Platform Market, by Industry (2022-2029)
• Banking, Financial Services, And Insurance (BFSI)
• Telecom And IT
• Government
• Energy And Utilities
• Manufacturing
• Healthcare And Life Sciences
• Retail And Ecommerce
• Media And Entertainment
• Education
• Others (Travel And Tourism, And Transportation And Logistics)
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Low-Code Development Platform Market Key Players
1. Caspio (US)
2. OutSystems (US)
3. Appian (US)
4. Salesforce (US)
5. Quickbase, Inc. (US)
6. LANSA INC (US)
7. ServiceNow (US)
8. AgilePoint, Inc. (US)
9. Bizagi (US)
10.Microsoft Corporation (US)
11.Oracle Corporation (US)
12.Pegasystems Inc (US)
13.KissFlow (US)
14.Blazedpath (US)
15.Mendix Technology BV (Netherlands)
16.Appsemble BV. (Netherlands)
17.Novulo (Netherlands)
18.Smart Shaped SRL (Italy)
19.Aurachain (Romania)
20.ClickPaas (China)
21.eNextCloud (India)
22.Zoho Corporation (India)
23.Magic Software Enterprises Ltd (Israel)
Key questions answered in the Low-Code Development Platform Market are:
- What is Low-Code Development Platform?
- What was the Low-Code Development Platform market size in 2022?
- What are the different segments of the Low-Code Development Platform Market?
- What growth strategies are the players considering to increase their presence in Low-Code Development Platform?
- What are the upcoming industry applications and trends for the Low-Code Development Platform Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Low-Code Development Platform Market?
- Who are the key players in the Low-Code Development Platform market?
- What major challenges could the Low-Code Development Platform Market face in the future?
- What segments are covered in the Low-Code Development Platform Market?
- Who are the leading companies and what are their portfolios in Low-Code Development Platform Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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