Global Low-Code Development Platform Market is Set to Reach USD 53.0 billion by 2024, Observing a CAGR of 80.0% during 2019–2024: VynZ Research

Published Date: Sep, 2019

The global low-code development platform market is expected to grow at a CAGR of 45.0% during the forecast period with its market size predicted to reach USD 53.0 billion by 2024. Globally, low-code development platform industry players are leveraging market growth through product launches, partnerships, mergers & acquisitions, and geographic expansion. For example, in April 2019, Mendix Technology B.V. launched Mendix Studio and Mendix Studio Pro.

Small and medium enterprises category is expected to witness faster growth during the forecast period in the Low-code development platform market

On the basis of enterprise size, the global low-code development platform market is divided into large enterprises and small and medium enterprises. Among the two categories, the small and medium enterprises category is expected to witness faster growth during the forecast period. The growth of this segment is owing to the inclination toward cloud-based low-code development platforms in minimizing resources and cost barrier for application development.

Browse Market Insight and In-depth TOC on "Global Low-Code Development Platform Market – Analysis and Forecast (2019-2024)"

On the basis of vertical, the global low-code development platform market is divided into government, healthcare, education, media and entertainment, retail, energy and utilities, manufacturing, IT, BFSI, and others. Of all, the IT sector held largest share in the market in 2018 and is also expected to witness the fastest growth during the forecast period owing to the increasing adoption of low-code development platform in the IT sector.

Geography Insight

Geographically, North America has accounted for the largest share in low-code development platform market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards the existence of a large number of IT companies, and increasing mobile application usage. Moreover, Asia-Pacific is expected to witness the fastest growth during the forecast period due to increasing internet penetration, and rapid increase in the number of smartphones.

Competitive Insight

Some of the key players operating in the global low-code development platform market are Oracle Corporation, Salesforce.com Inc, Alphabet Inc, Caspio Inc, Kony Inc, Appian Corporation, Mendix Technology B.V., Outsystems Inc, AgilePoint Inc., Microsoft Corporation, MatsSoft Limited, and ServiceNow Inc.

Key Takeaway from the Report:

  • Among all the offerings, service category is expected to witness faster growth during the forecast period.
  • Of all the deployment type, cloud-based contributes the largest revenue globally.
  • The small and medium enterprises category is expected to witness faster growth during the forecast period.
  • Of all vertical, the IT sector is expected to witness the fastest growth during the forecast period.

The Report Offers:

  • Historical market estimate for the years 2014–2018 and forecast for the years 2019–2024
  • Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
  • Market insights by in-depth segmentation with industry dynamics.
  • Competitive analysis and benchmarking of the industry leaders and their product offerings
  • Profiles of leading players and innovators, their financial overview and product portfolio
  • Analysis of key industry trends and recent developments
  • Value chain analysis and distribution channel analysis with opportunity assessment
  • Market share analysis of major players

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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million). The report segments the global low-code development platform market on the basis of offering, deployment type, enterprise size, vertical, and region.

Global Low-Code Development Platform Market Coverage

Offering Insight and Forecast 2014-2024

  • Solution
    • General Purpose
    • Mobile-First App
    • Database App
    • Process App
    • Request Handling
  • Service
    • Professional
    • Managed

Deployment Type Insight and Forecast 2014-2024

  • On-Premises
  • Cloud-Based

Enterprise Size Insight and Forecast 2014-2024

  • Large Enterprises
  • Small & Medium Enterprises

Vertical Insight and Forecast 2014-2024

  • Government
  • Healthcare
  • Education
  • Media and Entertainment
  • Retail
  • Energy and Utilities
  • Manufacturing
  • IT
  • BFSI
  • Others

Geographical Segmentation

Low-Code Development Platform Market by Region

North America

  • By Offering
  • By Deployment Type
  • By Enterprise Size
  • By Vertical
  • By Country – U.S., Canada, and Mexico

Europe

  • By Offering
  • By Deployment Type
  • By Enterprise Size
  • By Vertical
  • By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

Asia-Pacific (APAC)

  • By Offering
  • By Deployment Type
  • By Enterprise Size
  • By Vertical
  • By Country – China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Offering
  • By Deployment Type
  • By Enterprise Size
  • By Vertical
  • By Country – Brazil, Saudi Arabia, South Africa, and Other Countries
Our Industry
Global Low-Code Development Platform Market is Set to Reach USD 53.0 billion by 2024, Observing a CAGR of 80.0% during 2019–2024: VynZ Research