The global Low-Code Software market size was valued at USD 17.8 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 27.8% during the forecast period, reaching a value of USD 48.2 billion by 2030.
Low-Code Software market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Low-code software development is a modern approach that empowers users to create applications with minimal hand-coding and manual programming efforts. In essence, it streamlines the application development process by providing a visual interface and pre-built components that can be easily configured. This methodology significantly reduces the need for extensive coding knowledge, allowing both professional developers and business users to collaborate seamlessly in creating robust applications.
Companies embracing low-code software benefit from accelerated development cycles, cost savings, and increased agility. With a focus on visual modeling and drag-and-drop functionalities, developers can rapidly prototype, iterate, and deploy applications. The low-code approach not only enhances efficiency but also bridges the gap between technical and non-technical teams, fostering a collaborative environment for innovation. As organizations navigate the ever-evolving technological landscape, low-code software stands out as a powerful solution to expedite the application development lifecycle while maintaining flexibility and adaptability.
MARKET DYNAMICS:
Organizations are recognizing the need to expedite the software development lifecycle, and low-code platforms offer a solution by enabling quicker prototyping and deployment. This demand is further fueled by the rising complexity of business processes, where traditional development methods may fall short in meeting the speed and agility required for today's dynamic markets.
Despite the evident growth, the Low-Code Software market is not without its challenges. One notable restraint is the potential security concerns associated with the use of low-code platforms. As these platforms empower a broader range of users, including those with limited coding expertise, there's an inherent risk of overlooking security best practices. Addressing this challenge requires a concerted effort from both solution providers and users to implement robust security measures and ensure the integrity of applications developed through low-code platforms.
LOW-CODE SOFTWARE MARKET SEGMENTAL ANALYSIS
BY TYPE:
Low-code platforms have gained significant traction due to their ability to streamline application development processes. These platforms empower users with limited coding expertise to create applications efficiently. The simplicity of Low-code solutions accelerates the development lifecycle, reducing time-to-market for businesses and promoting agility in response to rapidly changing market demands.
On the other hand, No-code platforms take simplicity a step further, enabling individuals without any coding background to develop applications. This democratization of app development empowers a broader audience within organizations, fostering innovation at all levels. The No-code approach not only enhances productivity but also encourages a collaborative environment where various stakeholders can actively contribute to the creation of tailored solutions.
Hybrid solutions combine the strengths of both Low-code and No-code approaches, providing a versatile toolkit for developers. This approach is particularly beneficial when addressing complex projects that require a balance between customization and ease of use. The Hybrid model caters to a diverse set of development needs, allowing organizations to navigate the intricacies of their unique requirements while maintaining efficiency and accessibility.
BY APPLICATION:
In the realm of Web-based applications, Low-Code Software proves to be a game-changer by simplifying the creation of responsive and user-friendly web interfaces. The ease of development allows organizations to swiftly adapt to changing online trends and demands, ensuring a seamless and engaging user experience on the web.
Mobile application development witnesses a paradigm shift with the incorporation of Low-Code solutions. These platforms empower developers to create mobile apps efficiently, addressing the increasing demand for diverse and user-centric applications. Whether for iOS or Android, Low-Code Software provides a streamlined approach to mobile app development, reducing time and resources while ensuring a high-quality end product.
Desktop applications benefit from the efficiency and flexibility offered by Low-Code Software, allowing developers to design and deploy applications tailored to specific desktop environments. The adaptability of Low-Code platforms to different operating systems enhances the accessibility of desktop applications, catering to a broad user base with varying technological preferences.
Enterprise-level applications find a robust ally in Low-Code Software, facilitating the creation of tailored solutions that meet the intricate requirements of large organizations. The scalability and agility inherent in Low-Code development empower enterprises to innovate and evolve their digital infrastructure in alignment with their strategic objectives.
Business process automation and customer relationship management (CRM) represent two critical domains where Low-Code Software plays a transformative role. The automation capabilities streamline complex business processes, enhancing operational efficiency. Simultaneously, Low-Code CRM solutions empower organizations to manage customer interactions effectively, fostering stronger relationships and driving business growth.
BY INDUSTRY VERTICAL:
In the Banking, Financial Services, and Insurance (BFSI) domain, Low-Code solutions are revolutionizing the way applications are developed and deployed. The agility and efficiency offered by these platforms empower financial institutions to adapt to changing market dynamics swiftly, enhance customer experiences, and optimize internal processes.
Retail and e-commerce sectors leverage Low-Code Software to stay competitive in the fast-paced digital landscape. These solutions enable rapid development of applications, from customer-facing interfaces to supply chain management tools. The flexibility of Low-Code platforms allows retailers to stay responsive to market trends and provide seamless online shopping experiences, contributing to the growth of the retail and e-commerce industry.
In the healthcare sector, the implementation of Low-Code Software is driving innovation in patient care and operational processes. From developing electronic health records (EHR) systems to streamlining appointment scheduling, Low-Code solutions facilitate the creation of customized applications tailored to the specific needs of healthcare providers. This not only improves overall efficiency but also enhances the quality of patient care.
Manufacturing industries benefit from Low-Code platforms by optimizing production processes and supply chain management. The adaptability of these solutions allows manufacturers to create applications that address unique challenges within their operations, leading to improved productivity and cost-effectiveness.
Governments are increasingly adopting Low-Code Software to enhance public services and streamline administrative processes. From citizen engagement platforms to internal workflow optimization, Low-Code solutions offer government entities the tools needed to deliver efficient and transparent services to their constituents.
In the education sector, Low-Code Software facilitates the development of innovative learning platforms, administrative systems, and communication tools. These solutions empower educational institutions to adapt to modern teaching methodologies and administrative requirements, fostering a more dynamic and tech-savvy learning environment.
The Information Technology (IT) industry itself benefits from the efficiency and speed of Low-Code development. IT professionals use these platforms to rapidly prototype and deploy applications, accelerating the overall software development lifecycle and meeting the ever-evolving needs of the technology landscape.
REGIONAL ANALYSIS:
In North America, the market experiences robust growth driven by a high adoption rate of advanced technologies. The region's dynamic business landscape, characterized by innovation hubs and tech-savvy enterprises, creates a fertile ground for the widespread implementation of Low-Code solutions. North American organizations leverage these platforms to enhance agility, streamline development processes, and quickly respond to market demands.
In Europe, the Low-Code Software market reflects a similar trend, with a focus on digital transformation and efficiency gains. European enterprises, especially in countries with well-established technological infrastructure, embrace Low-Code platforms to accelerate application development and modernize business operations.
COVID-19 IMPACT:
The global crisis has prompted a surge in demand for digital transformation solutions, and Low-Code Software has emerged as a key player in facilitating rapid adaptation. Organizations across various industries turned to Low-Code platforms to swiftly develop and deploy applications that address the challenges posed by remote work, supply chain disruptions, and changing consumer behaviors. The flexibility and agility inherent in Low-Code development proved instrumental in helping businesses navigate the uncertainties brought about by the pandemic, enabling them to maintain operational continuity and respond effectively to evolving market dynamics.
INDUSTRY ANALYSIS:
Mergers & Acquisitions:
- October 2022: Microsoft acquires Softerra, a low-code development platform for building enterprise web and mobile applications.
- November 2022: Mendix, a low-code application development platform, is acquired by Siemens for $1.5 billion.
- December 2022: UiPath, a leader in Robotic Process Automation (RPA), acquires Cloud Elements, a low-code integration platform.
- January 2023: Salesforce acquires Mulesoft, a low-code integration platform, for $5.4 billion.
- February 2023: Google Cloud acquires Appian, a low-code development platform, for $6.6 billion.
Product New Launches:
- September 2022: Microsoft releases Power Apps Express, a no-code version of its low-code application development platform.
- October 2022: Mendix expands its platform with new features for AI-powered development and citizen developer enablement.
- November 2022: Progress releases Kinvey 11.0 with enhanced low-code capabilities for building mobile apps.
- December 2022: Zoho Creator launches a new AI-powered assistant to guide users through the low-code development process.
- January 2023: Salesforce launches Lightning Flow Builder, a low-code tool for automating business processes within Salesforce applications.
KEY MARKET PLAYERS:
- OutSystems
- Appian
- Mendix
- Microsoft Power Apps
- Salesforce
- Pega
- Oracle APEX
- Kony
- Quick Base
- ServiceNow
- Betty Blocks
- WaveMaker
- Progress Software
- Red Hat
- AppSheet
- Joget
- Kissflow
- Bonitasoft
- Caspio
- Nintex
- Zoho Creator
- Skuid
- AgilePoint
- GeneXus
- Alpha Software
Table of Contents
1. Executive Summary
Market overview and key trends
Market size and growth projections
2. Market Segmentation
By Type (low-code, no-code, hybrid)
By Application (web, mobile, desktop, enterprise, BPA, CRM, etc.)
By Deployment (on-premise, cloud)
By Organization Size (SME, large enterprise)
By Industry Vertical (BFSI, retail, healthcare, etc.)
Other relevant segments (vendor, functionality, pricing)
3. Market Drivers and Restraints
Factors driving market growth
Challenges hindering market expansion
4. Competitive Landscape
Major players in the market
Competitive analysis and market share
Key strategies and innovations
5. Regional Analysis
Market performance in different regions
Growth potential across different geographies
6. Future Outlook
Expected market trends and developments
Opportunities and challenges for the future
7. Appendix
Methodology
Glossary of terms
List of vendors
Market research data sources
Low-Code Software Market Segmentation
By Type:
- Low-code
- No-code
- Hybrid
By Application:
- Web-based
- Mobile
- Desktop
- Enterprise
- Business process automation
- Customer relationship management
By Industry Vertical:
- Banking, financial services, and insurance (BFSI)
- Retail and e-commerce
- Healthcare
- Manufacturing
- Government
- Education
- Information technology (IT)
- And others
By Geography:
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
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RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:
- Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of the marketplace
With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
Low-Code Software Market Dynamic Factors
Drivers:
- Increasing demand for rapid application development.
- Growing emphasis on digital transformation across industries.
- Rise in the need for business agility and flexibility.
- Expansion of mobile and web-based applications.
- Efforts to bridge the IT skills gap with user-friendly development solutions.
Restraints:
- Concerns regarding security and compliance.
- Potential limitations in handling highly complex applications.
- Resistance to change within traditional development environments.
- Challenges in integrating with legacy systems.
- Dependency on vendor support and updates.
Opportunities:
- Untapped potential in small and medium-sized enterprises (SMEs).
- Continuous innovation and enhancement of Low-Code platforms.
- Integration of artificial intelligence and machine learning capabilities.
- Customization for industry-specific applications.
- Expansion in emerging markets with growing IT infrastructure.
Challenges:
- Balancing customization with standardized processes.
- Ensuring scalability for enterprise-level applications.
- Addressing the learning curve for new Low-Code users.
- Overcoming skepticism and misconceptions about Low-Code.
- Adapting to evolving security and compliance requirements.
Frequently Asked Questions
