Increased API development fuelling the Market Growth of Low Code Development Platform
According to a new report published by Reports Monitor titled, “Global Low Code Development Platform Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the LOW CODE DEVELOPMENT PLATFORM market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
A low code development platform (LCDPs) is a framework which allows the creation application software majorly by means of graphical user interface, rather than the traditional computer programing technology. It primarily reduces the amount of hand coding, thereby ensuring quality and accelerating the delivery of business applications. It not only focuses on the building phase rather, it provides an integrated environment which supports entire app delivery lifecycle such as design, build, deploy and manage.
Increased adoption of mobile and web applications primarily for the marketing results as major factor in raising the market growth. Low coding platform offers less coding techniques which eventually reduces the amount of time and development cost, thereby propelling the market growth. Moreover, growing demand for software automation and innovative applications results in generating more market opportunities.
This report provides a detailed analysis of Low Code Development Platform market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and porter’s analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources and with bottom-up and top-down approaches.
The LCDPs market is majorly segmented on the basis of type, component, and deployment and applications. Based on the type, the market is further sub segmented into: database, process app, and general purpose platform, while on the basis of component market is segmented into mobile and web solutions and services. Depending upon the deployment options, market is bifurcated into: On-premise and cloud based solutions. Based on the applications, market is segmented into: BFSI, healthcare, transportation, IT and Telecommunication and others.
Based on the geographical areas covered, market is studied across: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Among the following regions covered, North America is projected to hold the major market share mainly due to the increasing internet users and development of mobile and web based solution for business growth. Asia Pacific is expected to emerge as a fastest growing region mainly due to the expansion in the IT and Telecom sector in the countries such as: China and India.
The major key Players operating in the market are: 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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