Low Code Development Platform (LCDP) Market 2019 – 2023: Size, Segments, Industry Profit Growth and Business Trends
Global Low Code Development Platform Market is expected to grow at a CAGR of 32% over the forecast period 2017-2023 and Low Code Development Platform Research Report: by Type (Database App Platform, Process App Platform, General Purpose Platform, and Request Handling Platform).
Pune, India – August 26, 2019 /MarketersMedia/ —
Low Code Development Platform Market Highlights:
Low code development platform (LCDP) is considered as a new development of applications software. Market Research Future reports the exit of the conventional process of computer programming and the increasing number of application programming interface (API) is going to steer the growth of the global low code development platform market at a CAGR of 32% over the forecast period 2017-2023.
Major Key Players:
Marvel players contributing to the Low Code Development Platform Market inevitably are listed as Salesforce (U.S.), OutSystems(U.S.) and Mendix(U.S.), Google Inc., (U.S.), Caspio (U.S.), Appian (U.S.), Microsoft Corporation (U.S.), MatsSoft (U.K), K2(U.S.), Bizagi (U.K), AgilePoint (U.S.) Service now (U.S.), Kony Inc, (U.S), and TrackVia Inc. (U.S.).
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Market Drivers & Constraints:
With better development of application programming in the present time, which has replaced the conventional process of computer programming is boosting the global market for the low code development platform. Low code development platform mainly concentrates on the creation and development of business processes, where a user uses web applications. In this case, the Low code development platform offers low or no coding techniques, which assists in the reduction of time and cost for the development of the platform, which has scored to be advantageous to the businesses.
In a case of point, the leading companies such as salesforce.com, Outsystem, and Mendix offer various platforms such as Salesforce App cloud platform, outsystems, and mendix platform, respectively. These platforms are firm in allowing to create and develop offers that are critical and complex solutions aiming towards ease of business processes. These involve web and mobile solutions. These are some of the prime factors that are continuously stimulating the market growth over the years, which would expand firmly, as expected, in the assessment period.
As an add on, the surging demand for mobile apps for business processes as well as mounting application programming interface (API) is paving ways for lucrative opportunities to come in the development of low code development platform market throughout the assessment period. On the flip side, factor such as customization-based apps for the business organizations is presumed to be a challenging aspect for the market to grow throughout the assessment period 2017-2023.
Market Segmentation:
The market of Low Code Development Platform Market globally has been segmented into type, component, deployment, organization size, and applications.
In terms of the type, the low code development platform is segmented into database app platform, process app platform, general-purpose platform, and request handling platform.
In terms of component, this market segment includes solution and services, where the solution segment is divided into mobile solutions and web solutions. Whereas, the service segment includes professional services and managed services.
In terms of deployment, the market gets segmented into on-premises and in the cloud, where the cloud segment involves the public, private, and hybrid.
In terms of organization, the market is sub-segmented into small & medium enterprises, and large enterprises.
The application segment is further segmented into banking, financial services, and Insurance (BFSI), retail, healthcare, transportation & logistics, IT & telecommunication, media & entertainment, construction, and many more.
Detailed Regional Outlook:
Region-wise, the market for low code development platform globally is studied across the key regions of North America, Asia Pacific, Europe, the Middle East, and Africa, and Latin America.
Continuously surging of internet users and the development of mobile and web applications for the business organization is expanding the market size in the North American region and positioning as a leading region in the forecast period. The market has also grown owing to a change in the computer world, focus on innovation and development, and burgeoning information and communication technology industry. Apart from this, the well-established BFSI industry in this region also creates opportunities for the market to grow immensely during the review period.
The Asia Pacific region is probable to rise at a rapid pace in low code development platform over the forecast period, which attributed to the rapidly increasing start-ups as IT firms and surging economic growth in the emerging countries like China and India. Whereas, Europe is not lagging as far as in the last five years and has witnessed a substantial increase in the low code development market.
Industry News:
July 17, 2019: Mendix, a Siemens business and the global leader in low-code and no-code application development announced the availability of its Summer ’19 Release, which introduces Mendix Studio and Studio Pro, an integrated development environment. It delivers game-changing capabilities to the industry by supporting a range of developer skill-sets. The Mendix platform included the second generation of Mendix Assist, the industry’s first and most powerful AI tool for building low-code apps which are designed expressly for both citizen and professional developers.
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued….
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List of Tables
Table1 World Population By Major Regions (2017 To 2023)
Table2 Global Low Code Development Platform Market: By Region, 2017-2023
Table3 North America Low Code Development Platform Market: By Country, 2017-2023
Continued….
List of Figures
Figure 1 Global Low Code Development Platform Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porters’ Five Forces Analysis Of Global Low Code Development Platform Market
Continued….
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Website: https://www.marketresearchfuture.com/reports/low-code-development-platform-market-5355
Source: MarketersMedia
Release ID: 88912240
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