The global low code development platform market size is anticipated to reach USD 83.5 billion by 2028. Adoption of intelligent communication designs, remarkable growth in data traffic, and advancements in technologies are some of the key factors anticipated to boost the industry growth in the coming years. The need for digital integration and modern business process solutions imposes demands on software developers to create tailored systems in quantity, tailoring them to the specific needs of organizations.
The global Low Code Development Platform market is expected to develop USD 35.2 billion by 2030, at a compound annual increase in price (CAGR) of 22.9 % throughout the forecast period.
.jpg "The Global Low Code Development Platform Market 2020-2030 (USD Billion)")
Low-code technology systems have been and are being developed as a way of facilitating the fast production and usage of functional software that can meet the unique process and data needs of the enterprise.
Niche platforms are designed to meet specific business requirements, such as management of business processes and event management, as well as customer relations (CRM). Low-code is not a promotional bid but a feature for these products. The platforms provide a scaled-down IDE visual output that enables applications to be built which function within the software's framework and architecture.
These solutions are intended for a particular case of use and good for what they were produced, but not for the whole range of digital transformation applications in the business. BFSI industry requires business tools and solutions on a wide scale as this industry generates a huge amount of data. As customer service is an important factor responsible for customer acquisition in the BFSI industry, multiple organizations have adopted low-code development platforms and services to enhance automation in the customer service business functions.
Low Code Development Platform Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 208-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 35.2 billion |
| Growth Rate | CAGR of 22.9 % during 2020-2030 |
| Segment Covered | Application, Deployment Type, Organization Size, End-Use, Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Appian,Creatio, LANSA, Mendix Technology BV, Microsoft, Oracle, OutSystems, Pegasystems Inc., Quickbase, Salesforce, Inc., Servicenow, Zoho Corporation Pvt. Ltd. |
Key Segment Of The Low Code Development Platform Market
Application Type (USD Billion)
• Web-based
• Mobile-based
Deployment Type, (USD Billion)
• Cloud
• On-premise
Organization Size, (USD Billion)
• SME
• Large Enterprise
End-Use, (USD Billion)
• BFSI
• Automotive & Manufacturing
• Retail
• Education
• IT & Telecom
• Transportation & Logistics
• Others
Regional Overview, (USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa