Global Low-code Development Platform Market 2017-2022 - A $27.2 Billion Market Opportunity

DUBLIN, Jan. 16, 2018 /PRNewswire/ --

The "Low-Code Development Platform Market by Component (Solution and Services (Professional and Managed)), Deployment Mode, Organization Size, Vertical (Telecom and IT, BFSI, Government), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The low-code development platform market size is expected to grow from USD 4.32 billion in 2017 to USD 27.23 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 44.49% during the forecast period.

The market is expected to be driven by the increased need for software automation and innovative applications by global organizations. Similarly, the low cost of development and easy deployment features are said to be fueling the growth of the low-code development platform market. However, resentment from the technical teams in organizations is expected to be restraining the growth of the market.

The integration services segment is estimated to have the largest market size in 2017. Integrating a comprehensive and robust low-code development platform with the other components of the IT system is one of the basic and most important steps toward deploying the platform. These integrations are done, keeping in mind the standards and compliances set by the government bodies and organizations.

North America is estimated to hold the largest market share and dominate the globallow-code development platform market in 2017. Factors such as the increasing focus of Application Development & Delivery (AD&D) professionals to develop customer-centric applications and the ease of development of web and mobile apps are said to be pushing organizations in North America to adopt the low-code development platform solution. APAC offers growth opportunities for the low-code development platform market to grow, as countries in this region are investing majorly for the deployment of the low-code development platform to rapidly deliver robust applications.

Key low-code development platform vendors are Appian (US), Salesforce (US), ServiceNow (US), AgilePoint (US), Bizagi (UK), Caspio (US), K2 (US), MatsSoft Limited (UK), Mendix (US), and OutSystems (US).

Market Dynamics


Drivers

• Organizations' Need for Web and Mobile Apps for Their Business Processes
• Increasing API Offerings by Vendors
• Proliferation of Smartphones Across Various Industries

Restraints

• Resentment From the Technical Teams in Organizations

Opportunities

• Ongoing Trend for Digitization in the IT Industry
• Rising Demand for Software Automation and Innovative Applications

Challenges

• Need to Build the Customized Applications in Line With the Organizational Needs
  

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 Low-Code Development Platform Market, by Component

7 Low-Code Development Platform Market, by Application Type

8 Low-Code Development Platform Market, by Deployment Mode

9 Low-Code Development Platform Market, by Organization Size

10 Low-Code Development Platform Market, by Vertical

11 Low-Code Development Platform Market, by Region

12 Competitive Landscape

13 Company Profiles

• AgilePoint
• Appian
• Bizagi
• Caspio
• K2
• MatsSoft
• Mendix
• OutSystems
• Salesforce
• ServiceNow

For more information about this report visit https://www.researchandmarkets.com/research/z4qb53/global_lowcode?w=5

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SOURCE Research and Markets

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