The global low code development platform market was valued at US$ 1,647.0 Mn in 2015 and is anticipated to increase at a CAGR of 54.5% from 2017 to 2025.
Albany, New York, Nov. 21, 2018 (GLOBE NEWSWIRE) — The global low code development platform market is highly fragmented and is expected to showcase thriving growth in the forecast period. Some of the prominent market players such as Microsoft, Salesforce, and Google are expected to work on the creation and development of apps based on cloud services. Also, these players are anticipated to focus on customer requirements and accordingly provide services embedded in the apps. Adding to this, the rising need for automation and creative applications have compelled the software developers to build apps in large volume. Some of the key players operating in the global low code development platform market include Bizagi Appian Corp., Caspio, MatsSoft Inc., AgilePoint, Mendix, and OutSystems.
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The market for low code development platform was valued at US$1647 mn in the year 2015. It is estimated to reach at a CAGR at 54.5% during the forecast period 2017-2025. The global market is segmented as per type and deployment type. According to type, the general purpose platform and mobile-first app platform are estimated to drive the demand for low code development platform market from 2017-2025. As per deployment type, the low code development platform market is divided into cloud-based and on-premise segments. In the cloud-based segment, hybrid cloud is likely to surge the market growth globally. As per regions, North America accounted for 40% market share in the year 2016. Rising investment is offering huge growth opportunities in Europe. Also, the market in Europe is expected to increase owing to the rising customer application demand. The demand for low code development market is increasing in countries such as India, Japan, and China which results into offering immense growth opportunities in Asia Pacific region.
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The market for low code development platform was valued at US$1647 mn in the year 2015. It is estimated to reach at a CAGR at 54.5% during the forecast period 2017-2025. The global market is segmented as per type and deployment type. According to type, the general purpose platform and mobile-first app platform are estimated to drive the demand for low code development platform market from 2017-2025. As per deployment type, the low code development platform market is divided into cloud-based and on-premise segments. In the cloud-based segment, hybrid cloud is likely to surge the market growth globally. As per regions, North America accounted for 40% market share in the year 2016. Rising investment is offering huge growth opportunities in Europe. Also, the market in Europe is expected to increase owing to the rising customer application demand. The demand for low code development market is increasing in countries such as India, Japan, and China which results into offering immense growth opportunities in Asia Pacific region.
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Few Drawbacks may restrict the growth of Low Code Development Platform Market
Some of the challenges such as customization and platform-related shortcomings are expected to hinder the growth of low code development platform market in the forecast period. The toolkits available in the market are not sufficient enough to analyze and resolve the customization issues in apps. This challenge is likely to hamper the market growth for low code development platforms. Having said that, many recent developments in information technologies are going to offer growth opportunities during the forecast period.
The information presented in this review is based on a Transparency Market Research report, titled, “Low Code Development Platform Market (Deployment – Cloud (Private, Public, and Hybrid) and On-premise; Type – General Purpose Platform, Database App Platform, Mobile – First App Platform, Process App Platform, and Request Handling Platform) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”
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Key segments of the Global Low Code Development Platform Market are as presented:
Low Code Development Platform Market, by Deployment
- Cloud
- Private
- Public
- Hybrid
- On-premise
Low Code Development Platform Market, by Type
- General Purpose Platform
- Database App Platform
- Mobile – First App Platform
- Process App Platform
- Request Handling Platform
- Others
In addition, the report provides analysis of the Low Code Development Platform Market with respect to the following geographic segments:
- North America
- The U.S.
- Canada
- Rest of North America
- Europe
- The U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific (APAC)
- India
- China
- Japan
- Australia
- Rest of APAC
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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