LOW CODE DEVELOPMENT PLATFORM MARKET ANALYSIS

Key Developments

• In March 2023, Microsoft Corporation unveiled the next-generation AI Copilot in Microsoft Power Apps, revolutionizing low-code development by introducing AI technology to the initial stages of application development. Developers can now build their business applications through intuitive natural language conversations with Copilot in Power Apps.
• On November 14, 2023, OutSystems Japan Co., Ltd. introduced their low-code solution, OutSystems Developer Cloud, for cloud-native application development in the Japanese market. OutSystems offers a high-performance, low-code application platform suitable for developers and enterprise developers alike, enabling secure deployment in large-scale applications and facilitating full-stack development from front-end to back-end.
• In July 2022, Kissflow, an India-based SaaS firm, launched its unified low-code/no-code work platform, accelerating business digital transformation by integrating task management for enterprise-wide users, including end users, teams, team managers, process specialists, citizen developers, and IT developers.
• In January 2022, San Francisco-based low-code platform Retool announced its plans to expand its presence in India with tailored offerings, driven by significant interest from IT service providers and startups.
• In September 2021, Akkio secured a USD 3 million investment from Bain Capital Ventures to bolster its automated decision-making capabilities using artificial intelligence and machine learning. Akkio offers a low-code platform equipped with advanced technologies, providing enterprises with comprehensive business insights and enabling benefits such as improved data analytics, enhanced user experience, cost reductions, and rapid development.
• In June 2021, Salesforce.com, Inc. introduced the Salesforce Platform, incorporating low-code development tools to empower employees without technical skills, facilitating a swift shift toward digitalization.
• In May 2021, Appian Corporation launched a new version of its low-code automation platform, featuring the addition of data capabilities and a code-free approach to enterprise data. The updated version also introduced AI-powered Intelligent Document Processing for developers.
• In April 2021, Zoho Corporation Pvt. Ltd. partnered with two India-based tech companies, GoFloaters and Unmetrics, to provide a creator platform for supporting local authorities with a vaccination booking portal.
• In February 2021, CEC Bank implemented a low-code application platform by Aurachain to enhance its SME online banking services.