Low-code development platforms are incredible. These have helped businesses become more efficient by creating new automations. And in a couple of years, it has grown dramatically and continues to rise!
But how much? Continue reading to find out.
Overview of Low-Code Development Platform Market
Before we talk about why low-code development platforms have boomed, let’s talk about the impressive numbers, shall we?
According to Gartner Research, from 2019 to 2021, the market has grown from 9.15 billion to 13.82 billion. That’s a 32.8% increase, and it’s predicted to continue growing dramatically! That’s amazing, right?
The Covid-19 Growth Effect
Thanks to the pandemic, many companies have struggled and tried to save as many dollars as possible. Despite that, there’s been a massive interest in the low-code/no-code platforms. And as seen above, the market has grown drastically.
The reason behind it? Well, it all has to do with the pandemic we’re currently in!
Since 2020, many people have had to start working in homes. That has created brand new problems for project management, communication, and productivity. And do you know what the best solution for that is?
That’s right; it’s low-code applications! With them, any company can increase its efficiency! So it’s more of a necessity than a desire.
41% of Low-Code Platform users are non-IT workers
Another notable thing we have to talk about is the users using these platforms.
Since the invention of low and no-code platforms, developers have used them to create more efficient systems and make their lives easier. However, over time, this norm seems to change.
According to Gartner’s research, on average, 41% of users of these platforms aren’t in the IT industry. Quite impressive, right?
Well, according to Gartner, this number will keep on growing. In 2025, Gartner predicts that half of the users of low-code software are going to be outside of the IT industry.
Hyper-automation and SaaS will drive Low-Code adoption.
There are many reasons why the No-Code Platform market continues to rise in the near future. However, the two biggest reasons are SaaS companies (Software as a Service) and the trend of hyper-automation.
Why? Well, there are a couple of reasons:
- Better Efficiency – Automations are more than just ways to save up time; they do so much more. First, automations are usually more accurate and cheaper alternatives than hiring. And secondly, they save up time to work on the things that matter.
- Pressure in the IT industry – IT is something that evolves faster and faster as time goes by. For that reason, programmers are forced to use low-code platforms to develop new apps and software quickly.
Low-Code Application Platforms Had the Biggest Boost in Revenue
While all technologies in the low-code market have seen an impressive increase in revenue, LCAPs (also known as low-code application platforms) had the most significant effect.
According to Gartner’s research, the market value for LCAPs went from 3,47 billion to 5,75 billion. That’s a 39,6% increase! And that’s for a good reason!
That’s because LCAPs can be used for a large variety of businesses. It’s not something specific to an industry like Citizen Automation and Development Platform (short for CADP)!
Any company can use it to create brand new solutions for the team’s problem, leading to a more efficient workspace.
Other notable low-code development technologies that saw a boost were:
- Robotic Process Automation (RPA) – From 1,18 billion to 2,187 billion in revenue.
- Rapid Mobile App Development and Rapid Application Development – From 59,6 million to 87,3 million in revenue.
P.S All of the statistics are from 2019 to 2021.
Low-Code Development Platform Market Is Expected to Grow to 47,31 billion.
While the current numbers are noteworthy, it’s nothing compared to what is expected to come!
According to Brandessence market research, they predict that by 2025, the low-code development market value will skyrocket to a jaw-dropping 47.31 billion dollars. That’s a calculated average growth rate of 29.2%.
So there seems to be no stopping of growth in the near future.
North America Is Predicted to Dominate Low Code Market
So, where does the most considerable amount of growth come from? Well, if you’ve read the subtitle, then you know it’s going to be the mighty United States.
According to Brandessence, it’s due to a couple of reasons: high IT expenditure and increased mobile usage. Also, another factor that makes North America dominate the low code platform market is thanks to their adoption of technology.
But that doesn’t mean other regions won’t see an increase in growth! Additionally to North America, Asia Pacific regions should dramatically increase low-code adoption. That’s primarily because of the rapid expansion of internet penetration and the IT industry there.
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