Low-Code Development Platform Industry Revenue, Trend and Forecast to 2030

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2022
Low-Code Development Platform Market Overview,
Emerging Trends, Key Players and Future Scope
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The global low-code development platform market
revenue stood at 12,500.6 million in 2020 and it
is predicted to surge to 190,792.6 million by
2030. According to the estimates of the market
research company, PS Intelligence, the market
will progress at a CAGR of 31.3 from 2020 to
2030 (forecast period). The market is being
propelled by the burgeoning requirement for
business digitization, less reliance on
information technology (IT) professionals,
enactment of strict government regulations,
rising requirement for automation in business
operations, and surging adoption of low-code
development tools that minimize the issue of
shadow IT. The rapid digital transformation
and digitization of business operations, owing to
the growing penetration of the internet, are
driving the demand for low-code development
platforms. As per the World Economic Forum, many
industries, such as manufacturing, retail, and
banking, financial services, and insurance
(BFSI), allocated nearly 1.7 trillion for
digitizing operations in 2020, registering a
Y-o-Y increment of 23. This funding is predicted
to rise to 2.4 trillion by 2022. With the
mushrooming requirement for business applications
in various industries, the demand for low-code
development platform is soaring.
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This is because this platform plays a critical
role in facilitating the rapid digitization of
several business processes, such as accounting,
operations, finance, and sales. Besides, the
rising need for automation of workflows is also
propelling the low-code development platform
market. Enterprises with the lowest tolerance for
data loss and downtime and the greatest
requirement for independent security
certification and regular audits are rapidly
adopting applications developed with the help of
low-code development platforms. Additionally,
these platforms assist in the development of
customizable applications that achieve certain
objectives. Depending on offering, the low-code
development platform market is divided into
service and solution categories. Between these,
the service category is predicted to demonstrate
the highest growth rate in the market in the
coming years. This will be because of the growing
requirement for implementation and integration
services, as these services assist in enhancing
business productivity and augmenting coding
activities. In addition, these services assist in
the automation of workflows, which, in turn,
promotes the mechanization of various complex
tasks, thereby improving business efficiency.
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Globally, North America contributed the highest
revenue to the low-code development platform
market in the past, and this trend is expected to
continue in the upcoming years as well. This is
credited to the presence of a well-developed
information technology (IT) infrastructure,
increasing adoption of the 5G technology, surging
use of fintech, and soaring investments being
made in the region. Whereas, the market is
expected to demonstrate the fastest growth in the
Asia-Pacific (APAC) region in the forthcoming
years, owing to the surging IT infrastructure
investments being made in the region. Thus, the
market will exhibit substantial growth in the
coming years, primarily because of the rising
internet penetration, growing requirement for
application-developing software and solutions,
mushrooming demand for automated workflows, and
rapid digitization of business operations all
over the world.
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• Market Segmentation, by Offering
• Solution
• General-purpose platform
• Process app
• Database app
• Mobile-first app
• Request-handling software
• Service
• Professional
• Managed
• Market Segmentation, by Deployment Type
• Cloud
• On-Premises

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• Market Segmentation, by Enterprise
• Large Enterprises
• Small Medium Enterprises (SMEs)
• Market Segmentation, by Vertical
• Information Technology (IT)
• Banking, Financial Services, and Insurance (BFSI)
• Retail
• Healthcare
• Government
• Manufacturing
• Media and Entertainment
• Education
• Energy and Utilities
• Others (Telecom, Pharmaceuticals, Automotive,
  Logistics, and Hospitality)

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• Market Segmentation, by Region
• North America Low-Code Development Platform
  Market
• By offering
• By deployment type
• By enterprise size
• By vertical
• By country U.S. and Canada
• Europe Low-Code Development Platform Market
• By offering
• By deployment type
• By enterprise size
• By vertical
• By country Germany, U.K., France, Italy, Spain,
  and Rest of Europe
• Asia-Pacific (APAC) Low-Code Development Platform
  Market
• By offering
• By deployment type
• By enterprise size
• By vertical
• By country China, Japan, South Korea, India,
  and Rest of APAC

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• Latin America (LATAM) Low-Code Development
  Platform Market
• By offering
• By deployment type
• By enterprise size
• By vertical
• By country Brazil, Mexico, and Rest of LATAM
• Middle East and Africa (MEA) Low-Code Development
  Platform Market
• By offering
• By deployment type
• By enterprise size
• By vertical
• By country Turkey, Saudi Arabia, U.A.E., South
  Africa, and Rest of MEA

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This study covers 1. Historical and the present
size of the Low-Code Development Platform
Market 2. Historical and the present size of the
market segments and understand their comparative
future potential 3. Potential of on-demand
logistics services, so the market players make
informed decisions on the sales of their
offerings 4. Competitive scenario of various
market segments across key countries in several
regions for uncovering market opportunities for
the stakeholders 5. Major players operating in
the market and their service offerings
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