Growing internet penetration and mobile applications can impact the low-code development platform market growth in the IT sector

Low-code development platforms are booming as one of most leading strategic investments scope for IT organizations. These platforms have developed tools for straightforward, division applications into tools for digital transformation, dynamic process method for productive use of organization. 

While organizations have long sought-after a “single supply of truth” for key data objects at the center of their operations—such as customers, vendors, contracts like—the reality is that this data still exists in a very style of enterprise systems and content repositories. A fragmented data surroundings results in vital barriers to digital transformation, including disjointed tasks that replicate content silos, rigid processes that meet the requirements of a couple of internal users but can’t simply be changed for a broader audience, like customers who need self-service, disconnected processes with manual steps filling in the gaps, vital efforts to deploy functionally wealthy applications that has got to integrate with disparate systems, lacking insight into method execution.

System-to-system integration technologies, like the enterprise service bus (ESB), pull data from one system and insert it into another. However, they fail to show information in an exceedingly means finish users will act with it, nor do they assist developers simply make use of enterprise data.

The global low-code development platform market is categorized into several segmentation including by component, by deployment mode, by organization size, by vertical, and by regional. It includes:

By Component:

• Solution
• Services
  • Professional services
    • Training and development
    • Integration
    • Support and maintenance
  • Managed services

By Deployment Mode:

• On-premises
• Cloud

By Organization Size:

• Small and Medium-sized Enterprises (SMEs)
• Large enterprises

By Vertical:

• Banking, Financial Services, and Insurance (BFSI)
• Telecom and IT
• Government
• Energy and utilities
• Manufacturing
• Healthcare and life sciences
• Retail and eCommerce
• Media and Entertainment
• Education
• Others (travel and tourism, and transportation and logistics )

Market Dynamics

• The IT sector is expected to project the fastest growth over the forecast period owing to the growing adoption of low-code development platform in the IT sector
• The leading players of the global low-code development platform market is leveraging the market growth in merger & acquisitions, geographic expansion, and partnerships.

Region Market Scenario

In terms of regional overview, the global low-code development market is a wide range to:

By Region:

• North America
• Europe
• Asia Pacific (APAC)
• Middle East and Africa (MEA)
• Latin America

Discussing the regional overview, the North America region holds one of the largest revenue in the year 2018, and this can be resulted to the actions of the majority of mobile and web applications developed in the leading companies, strong internet penetration, and high disposable income in the region. On the other hand, APAC region witnessed one of the fastest growing regions over the forecast period. Currently, businesses are becoming more professional and offering refined services to the customers. The companies are offering web-based and mobile-based applications for the customers. The demand for application-based services for better customer interaction is rapidly increasing the need of smartphones and mobile internet.

List of Market Players

• Low-code development platform providers
• Platform integrators
• (IT) security agencies
• System integrators
• Cloud service providers
• Security solution providers

Major Market Movements

• The IT industry currently needs the aptitude to deploy applications in an exceedingly matter of weeks and reiterate many times per annum
• Organizations that have standardized on one ERP system typically have further purpose solutions or custom built applications serving specific audiences, for instance customers or partners
• Increasing demand for internet and smart devices drives market growth
• A government worker process court dockets may get suggestions that might improve potency
• Digital business automation applications may embrace analytics that offer management with insights to reengineer processes improve efficiency.

Key Study Deliverables

• Market size and forecast of the global low-code development platform market for the period from 2015-2025, with CAGR for the period from 2019-2025
• In-depth market assessment across the considered segmentation and regions
• Analysis of the major market dynamics such as drivers, challenges, and opportunities
• Scrutiny of the overall competitive scenario based on market assessment tools

Profiles of key market players based on parameters such as company overview, financial status, product offering and key developments.