The Low Code Development Platform Market is estimated to be valued at US$ 15.63 billion in 2024 and is expected to reach US$ 94.81 billion by 2031, growing at a compound annual growth rate (CAGR) of 29.4% from 2024 to 2031.

Introduction:

The low code development platform market allows organizations to build application solutions through graphical user interfaces and visual drag-and-drop tools, eliminating the need for hand coding and decreasing the reliance on expensive custom and vendor software. It provides an easy way to handle different tasks like data integration, workflows, and business process management tasks. Low code platforms reduce the dependence on traditional software development and empower business users to build, modify, and deploy applications without writing complex code. This is particularly beneficial for small and medium enterprises having fewer specialized IT resources.

Market Dynamics:

The low code development platform market is primarily driven by the growing digital transformation across organizations and rising need to accelerate application development with minimal coding. It is favored by industries due to shorter time-to-market and lower costs compared to traditional custom software development methods. However, data security risks and lack of coding control pose significant challenges for this market. On the positive side, the increasing adoption of cloud-based low code platforms and incorporation of advanced capabilities like AI/ML, IoT, and AR/VR offer lucrative opportunities for market expansion.

Key features of the study:

• This report provides in-depth analysis of the global low code development platform market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global low code development platform market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Appian Corporation, Betty Blocks, Creatio, LANSA, Mendix Technology BV, Microsoft Corporation, Oracle Corporation, OutSystems Inc., Pegasystems Inc., Quickbase, Salesforce, Inc., ServiceNow Inc., Zoho Corporation Pvt. Ltd., and AgilePoint Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global low code development platform market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global low code development platform market.

Detailed Segmentation-

• By Deployment Mode
  • Cloud
  • On-premise
• By Enterprise Size
  • Large Enterprises
  • Small and Medium-sized Enterprises
•  By Application Type
  • Web-based Application
  • Mobile-based Application
  • Desktop and Server-based Application
• By Industry Vertical
  • BFSI
  • IT and Telecom
  • Manufacturing
  • Healthcare
  • Retail and E-commerce
  • Government
  • Others
• By Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Players Insights

• Appian Corporation 
• Betty Blocks 
• Creatio
• LANSA
• Mendix Technology BV
• Microsoft Corporation 
• Oracle Corporation
• OutSystems Inc.
• Pegasystems Inc.
• Quickbase
• Salesforce, Inc.
• ServiceNow Inc.
• Zoho Corporation Pvt. Ltd.
• AgilePoint Inc.