Low Code Development Platform Market Size, Share, Industry Trends and Forecast to 2030

Low Code Development Platform Market Size & CAGR in 2021

The global low code development platform market is projected to witness a CAGR of 25% from 2021 to 2026, reaching a market size of $45 billion by the end of the forecast period. The increasing adoption of low code platforms by organizations to accelerate app development processes and reduce coding complexities is driving the market growth significantly.

COVID-19 Impact on the Low Code Development Platform Market

The COVID-19 pandemic has acted as a catalyst for the low code development platform market growth. With the sudden shift to remote work and digital transformation initiatives, organizations are turning to low code platforms to quickly build and deploy applications to meet the changing business requirements. This has led to a surge in demand for low code development platforms across various industries.

Low Code Development Platform Dynamics

The low code development platform market is driven by factors such as the need for faster app development, reduced IT costs, and the increasing focus on digital transformation. Organizations are increasingly adopting low code platforms to empower citizen developers and streamline their application development processes. However, security concerns and the need for specialized skill sets to optimize low code platforms are some of the challenges faced by the market.

Segments and Related Analysis

By Deployment Mode:

- Cloud-based low code platforms dominate the market due to their scalability and flexibility in app development. They offer cost-effective solutions for organizations looking to build applications without heavy infrastructure investments.

- On-premises low code platforms are preferred by enterprises with strict data security requirements and compliance regulations. These platforms provide greater control over data and customization options.

By Application Type:

- Mobile application development is the largest segment in the market, driven by the increasing use of smartphones and the demand for mobile-first solutions across industries.

- Web application development is witnessing steady growth, with organizations looking to enhance their online presence and user experience through interactive web applications.

By Region Analysis

- North America holds the largest market share in the low code development platform market, driven by the presence of key market players, technological advancements, and the early adoption of low code platforms in the region.

- Europe is anticipated to witness significant growth in the market, supported by the increasing focus on digital transformation initiatives and the adoption of innovative technologies by organizations across various industries.

- Asia Pacific is poised to emerge as a lucrative market for low code development platforms, fueled by the rapid digitization efforts in countries like India and China and the growing demand for enterprise mobility solutions.

Key Market Players and Competitive Landscape

- Leading players in the low code development platform market include OutSystems, Mendix, Salesforce, Microsoft, and Appian. These companies are focusing on product innovations, strategic partnerships, and acquisitions to strengthen their market position and gain a competitive edge.

- The competitive landscape of the market is characterized by intense competition, with players vying for market share through enhancements in platform functionalities, pricing strategies, and customer support services.

Recent Happenings in the Low Code Development Platform Market

- In June 2021, OutSystems announced the acquisition of a leading AI-driven testing platform to enhance its low code development capabilities and deliver high-quality applications to customers.

- Mendix introduced new features and enhancements to its low code platform in September 2021, aimed at simplifying app development processes and enabling faster time-to-market for organizations.

- Salesforce launched a low code development platform for building customer-centric applications in November 2021, offering customizable and scalable solutions for businesses of all sizes.

- Microsoft unveiled updates to its Power Apps platform in January 2022, enabling users to create custom apps with minimal coding and integrate them seamlessly with other Microsoft services.