Market Research Future Insights
According to MRFR analysis, the global Low Code Development Platform market is expected to register a CAGR of ~34.20% from 2022 to 2030 and hold a value of over USD 125.3 Billion by 2030.
Low code development platforms (LCDP) are software development tools that allow users to create, deploy and manage applications with minimal or no coding. These platforms provide a graphical user interface (GUI) and pre-built templates, allowing developers to create an application by dragging and dropping pre-built components, rather than writing code manually. This makes the process of creating an application faster and more accessible to a wider range of users, including business analysts and citizen developers. The COVID-19 pandemic has had a significant impact on the use of low-code development platforms. As businesses have had to adapt to new challenges and rapidly changing market conditions, the demand for digital solutions has increased dramatically. Low code development platforms have become an important tool for organizations to quickly create and deploy new applications, such as e-commerce platforms, telemedicine apps, and remote work tools.
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Low Code Development Platform Market Report Scope:
|Revenue Forecast in 2030:
|USD 125.3 Billion
|CAGR of 34.20% from 2022 to 2030
|Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
The Asia-Pacific region dominates the market for low-code development platforms and is expected to continue driving the market’s growth with increased industrialization and demand for reliable solutions. Furthermore, as digital transformation and organizational mobility become more commonplace, users are increasingly turning to LCDPs to create business applications. Major contributors to the global low code development platform market include China, New Zealand, India, Southeast Asia, Japan, and Australia.
The Global Low Code Development Platform market has been segmented into component, deployment, and type.
Based on the component, the market has been segmented into solutions and services.
Based on the deployment, the market has been segmented into on-premise and cloud.
Based on the type, the market has been segmented into general-purpose platforms, database app platforms, process app platforms, request-handling platforms, and others.
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By Organization Size:
Some of the key market players are Microsoft, Salesforce, Mendix Technology BV, Appian, OutSystems, Pegasystems Inc, ServiceNow, AgilePoint, Caspio, Nintex UK Ltd, Netcall, Zoho Corporation Pvt. Ltd, Simplifier AG, WaveMaker, Inc.
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