Pune, 06, Dec, 2022: The report analysed by Maximize Market Research, the global information technology and telecommunications market research firm. Low-Code Development Platform Market covers an extensive competitive and pricing analysis in the report. North America is expected to witness significant growth according to the report. During the Forecast period, the business intelligence report expects the market to grow from USD 17.25 Billion in 2021 to USD 122.75 Billion in 2029 at a CAGR of 27.8 percent.
Low-Code Development Platform Market Scope and Research Methodology
The report is an analysis of the Low-Code Development Platform Market, covering all the major highlights and trends in the market. The report includes local, regional and global analysis of the Low-Code Development Platform Market. To understand the underlying factors that have an impact on the Low-Code Development Platform Market, the report focuses on analysing the drivers, challenges, restraints and opportunities prevailing in the market. This helps new entrants to get a picture of the opportunities in the Low-Code Development Platform Market along with the capital required, investment opportunities, market penetration, demand analysis and pricing analysis.
For the competitive analysis, key players and new entrants in the Low-Code Development Platform Market are listed by various classifications of the region, revenue, financial status, portfolio, technological advancements adopted, fierce marketing strategies, social media presence, mergers and acquisitions, joint venture and strategic alliances. The analysis aids stakeholders, new entrants, investors, entrepreneurs, researchers, market players and followers for an easy comparison of various elements of the market, presenting future outlook with expected trends and risks in the market.
For a segment-wise analysis of the Low-Code Development Platform Market, it was divided by component, enterprise size, end-use industry and Region for understanding the factors affecting the market growth positively and negatively. The bottom-up approach was employed to validate the market size and its estimation by different segments.
Data was collected employing both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs, manufacturers and marketing professionals were included in the primary methods. Secondary data was collected from trustworthy sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to provide the strengths and weaknesses of the Procurement-as-a-Service Market while PESTLE was employed to understand the potential impact of the micro-economic external factors affecting the Low-Code Development Platform Market.
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Low-Code Development Platform Market Overview
A Low-Code Development Platform is a visual software development environment that lets developers drag and drop components of applications, thereby connecting them to create web or mobile applications. Using the abstraction principle, the platform helps professional developers produce an application quickly without going through the labour of writing codes line by line.
Low-Code Development Platform Market Dynamics
Companies and organisations are trying to improve operations with the help of digitization. Digital tools are being provided to employees to increase efficiency. This usage increases company business and revenue and makes complex tasks simpler. It reduces resource costs and improves the overall functioning of the company. This incorporation of digitization is expected to boost the Low-Code Development Platform Market growth over the forecast period.
The decreasing use of paper for documentation and increasing use of automation is visible across most industries. The low-code platform helps develop information capture applications and pre-existing connections to link applications. Workflow tools are also included to improve the employee-customer relationship. It also helps business analysts of companies to create roadmaps for lease in operations. On account of improving operational efficiency, the Low-Code Development Platform Market is expected to witness growth.
Low-Code Development Platform Market Regional Insights
In 2021, market share of around 35 percent was dominated by the North American region. Over the forecast period, the region is expected to maintain its growth streak. The concentration of key market players in the region is increasing competition which is boosting innovations. This is a core factor driving the regional Low-Code Development Platform Market growth. Major economies in the region driving growth includes the U.S. and Canada. Additional factors for growth are research activities, joint ventures and mergers and acquisitions.
Low-Code Development Platform Market Segmentation:
By Component:
- Solution
- Services
By Deployment Mode:
- On-Premises
- Cloud
By Application Type:
- Web-Based
- Mobile-Based
By Organisation Size:
- Small and Medium-Sized Enterprises (SMEs)
- Large Enterprises
By Industry:
- 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)
Low-Code Development Platform Market Key Competitors include:
- Caspio
- K2
- MatsSoft
- Mendix
- OutSystems
- Appian
- Salesforce
- ServiceNow
- AgilePoint
- Bizagi
- Dwkit
- Visual LANSA
- KissFlow
- Microsoft
- Oracle
- Pegasystems
- Magic Software Enterprises
- Zoho
- Quick Base
- LANSA
Key questions answered in the Low-Code Development Platform Market are:
- What is Low-Code Development Platform?
- What is the current growth rate of the Low-Code Development Platform Market?
- What is the growth rate of Low-Code Development Platform Market for the forecast period?
- What is the nature of competition in Low-Code Development Platform industry in developed and developing economies?
- Who are the key players in the Low-Code Development Platform Market t?
- Who are the market leaders in Low-Code Development Platform in Europe?
- Who are the market leaders in Low-Code Development Platform in USA and Canada?
- Who are the market leaders in Low-Code Development Platform in India, China, Japan and South Korea?
- What are the factors affecting growth in the Low-Code Development Platform Market?
- Who held the largest market share in Low-Code Development Platform Market?
- What are the factors for the growth of Asia-Pacific region in Low-Code Development Platform Market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Component, Deployment Mode, Application Type, Organisation Size, Industry and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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