Low-Code Development Platform Market Increasing Demand by Key Players Analysis Report, Regional Status and Future Growth 2028
According to industry analysis, the Low-Code Development Platform Market has achieved a strong value in 2020 and is expected to maintain a steady revenue Compound Annual Growth Rate (CAGR) during the forecast period. This growth is attributed to a significant increase in demand for low-code development platforms, particularly in the biotechnology and pharmaceutical industries. The market is being driven by changing market trends and consumption patterns, and this trend is expected to continue. The growth of the global low-code development platform market is mainly attributed to the growing demand for business digitization, reducing reliance on IT professionals, and meeting stringent government standards.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in R&D activities are expected to boost market growth during the forecast period.
Competitive Landscape:
Competitive landscape of global Low-Code Development Platform market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Low-Code Development Platform market:
- Salesforce.Com Inc.
- Microsoft Corporation
- Google LLC
- ServiceNow Inc.
- OutSystems
- Mendix Tech BV
- Caspio Inc.
- Appian
- SourceCode Technology Holdings Inc.
- Oracle
The global market is further segmented into type and application:
Application Type Outlook :
- Web-based
- Mobile-based
- Desktop and Server-based
Deployment Type Outlook :
- Cloud
- On-Premises
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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