Low-Code Development Platform Global Market to Reach $68.84 Billion by 2026

DUBLIN, Sept. 20, 2022 /PRNewswire/ -- The "Low-Code Development Platform Global Market Report 2022" report has been added to  ResearchAndMarkets.com's offering.

The global low-code development platform market is expected to grow from $19.37 billion in 2021 to $25.16 billion in 2022 at a compound annual growth rate (CAGR) of 29.9%. The low-code development platform market is expected to grow to $68.84 billion in 2026 at a CAGR of 28.6%.

North America was the largest region in the low-code development platform market in 2021. The regions covered in low-code development platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing demand for applications for business organizations is expected to propel the growth of the low-code development platform market over the coming years. Low code is a coding-based software that allows business unit optimized business processes users to create and manage applications quickly with less manual coding.

According to the bureau of labor statistics, a USA-based department of labor indicated there will be a shortage of engineers by 2026 by 1.2 million. Moreover, only 39.6% of candidates for IT job opportunities fulfill all of the employer's standards. This will create a demand for low code platforms where tasks can be completed automatically with precision.

Technological advancements are shaping the low-code development platform market. Integration of AI provides an opportunity to use a low-code development platforms in various applications such as solving complex functions, detecting content using keywords or colors, and inserting information in templates.

Artificial intelligence is used to engineer a low-code development platform to integrate legacy systems by eliminating technical complexity. For instance, in May 2021, Zoho Corporation, an Indian web-based business tools company launched Qntrl which provides workflow solutions targeted at closing the growing gap in process management for contemporary, complicated processes that necessitate close collaboration among various stakeholders. It uses the technology of low code or no code to fulfill these tasks along with artificial intelligence and machine learning.

In January 2022, Jitterbit, a US-based API transformation company acquired PrimeApps for an undisclosed amount. Through this acquisition, Jitterbit will be able to provide the first end-to-end platform that allows non-technical individuals to effortlessly develop and deploy enterprise-grade business apps that can connect to any system, all through a low-code, bespoke design interface. PrimeApps is a Turkey-based low-code application development service.

Scope

Markets Covered:

1) By Component: Platform; Services
2) By Application: Web-Based; Mobile-Based; Desktop And Server-Based
3) By organization Size: Small And Medium-Sized Enterprises (SMEs); Large Enterprises
4) By Industry: Banking, Financial Services, And Insurance (BFSI); Retail And eCommerce; Government And Defense; Healthcare; IT; Energy And Utilities; Manufacturing

Key Topics Covered:

1. Executive Summary

2. Low Code Development Platform Market Characteristics

3. Low Code Development Platform Market Trends And Strategies

4. Impact Of COVID-19 On Low Code Development Platform

5. Low Code Development Platform Market Size And Growth

6. Low Code Development Platform Market Segmentation

7. Low Code Development Platform Market Regional And Country Analysis

8. Asia-Pacific Low Code Development Platform Market

9. China Low Code Development Platform Market

10. India Low Code Development Platform Market

11. Japan Low Code Development Platform Market

12. Australia Low Code Development Platform Market

13. Indonesia Low Code Development Platform Market

14. South Korea Low Code Development Platform Market

15. Western Europe Low Code Development Platform Market

16. UK Low Code Development Platform Market

17. Germany Low Code Development Platform Market

18. France Low Code Development Platform Market

19. Eastern Europe Low Code Development Platform Market

20. Russia Low Code Development Platform Market

21. North America Low Code Development Platform Market

22. USA Low Code Development Platform Market

23. South America Low Code Development Platform Market

24. Brazil Low Code Development Platform Market

25. Middle East Low Code Development Platform Market

26. Africa Low Code Development Platform Market

27. Low Code Development Platform Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Low Code Development Platform Market

29. Low Code Development Platform Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned

• AgilePoint
• Appian Corporation
• Caspio Inc.
• Fujitsu RunMyProcess
• K2
• LANSA
• Magic Software Enterprises Ltd.
• MatsSoft Limited
• Mendix Technology
• Microsoft Corporation
• Netcall
• Oracle Corporation
• Outsystems Inc.
• Pegasystems Inc.
• QuickBase Inc.
• Salesforce.com Inc.
• ServiceNow Inc.
• WaveMaker
• Zoho
• Alphabet Inc.
• Google Inc.
• TrackVia

For more information about this report visit https://www.researchandmarkets.com/r/8prl5a

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SOURCE Research and Markets