The global low-code application development platform market size was estimated at USD 24.8 billion in 2023 and is projected to reach USD 101.68 billion by 2030, growing at a CAGR of 22.5% from 2024 to 2030. Low-code development platforms are fundamentally transforming traditional software development practices by providing a more efficient and streamlined approach compared to conventional coding methods.

Low-code application development platforms enable software creation with minimal effort, reduced costs, and shorter development times, making them increasingly attractive for designing and automating business processes and workflows. Their inherent versatility allows these platforms to support scalable and agile development environments, while also enhancing usability for a broader range of users, including those with limited coding experience. This combination of features is a key driver fueling the rapid adoption and expansion of the low-code market.

One of the critical advantages of low-code and no-code platforms is their potential to mitigate the challenge posed by shortages in skilled software development talent. These platforms empower organizations to develop and deploy applications without needing to maintain large teams of professional developers. For example, in October 2023, SaaS-based company Kissflow Inc. reported that utilizing low-code platforms can reduce application development time by as much as 90%. Additionally, industry forecasts suggest that by 2024, approximately 80% of non-IT professionals will be involved in developing IT products and services, with more than 65% of these individuals leveraging low-code or no-code tools. Given these trends, the adoption of low-code application development platforms is expected to accelerate significantly over the forecast period, reshaping how software solutions are created and implemented across industries.

Key Market Trends & Insights:

• In 2023, the North American region emerged as the dominant player in the global low-code application development platform market, holding the largest market share compared to other regions. This leadership is attributed to the region's advanced technological infrastructure, early adoption of innovative software solutions, and strong presence of key industry players.

• When analyzed by component, the platform component segment took the lead in the market, accounting for a revenue share exceeding 71.0% in 2023. This indicates that the core platform offerings, which include development tools, integrated environments, and essential features, represent the most significant portion of the market revenue, underscoring the importance of these foundational elements in driving adoption.

• In terms of application, the web-based segment generated the largest share of market revenue during 2023. This dominance reflects the widespread preference for web-based applications, which offer accessibility, flexibility, and ease of use across multiple devices and locations, making them highly valuable for businesses seeking efficient software solutions.

• Regarding deployment models, the on-premises segment accounted for the highest market revenue share in 2023. This preference for on-premises deployment can be linked to organizations’ requirements for greater control over their data, security considerations, and customization needs, particularly in sectors where compliance and regulatory standards are stringent.

• Lastly, by organization size, large enterprises represented the segment with the largest revenue share in 2023. This highlights the significant role that big businesses play in the adoption of low-code platforms, driven by their complex IT environments, substantial budgets for technology investments, and demand for scalable solutions to accelerate digital transformation initiatives.

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Market Size & Forecast:

• 2023 Market Size: USD 24.8 Billion

• 2030 Projected Market Size: USD 101.68 Billion

• CAGR (2024-2030): 22.5%

• North America: Largest market in 2023

Key Companies & Market Share Insights:

Some of the prominent key players currently operating in the low-code application development platform market include major industry leaders such as Microsoft Corporation, Salesforce.com, Inc., Pegasystems Inc., and ServiceNow. These companies are driving innovation and shaping the competitive landscape through their advanced technology offerings and comprehensive solutions.

• Salesforce.com, Inc. stands out with its sophisticated low-code and no-code solutions, which are powered by cutting-edge technologies like artificial intelligence (AI). This enables both professional developers and business users to design and build engaging digital experiences and automate complex business processes efficiently. Salesforce’s platforms are highly adaptable, catering to the diverse and evolving requirements of organizations across various industries.

• Microsoft Corporation provides robust low-code solutions primarily through its Power Apps and Azure platforms. These tools enable rapid development of line-of-business applications with minimal coding effort and at a reduced cost. Microsoft’s low-code offerings facilitate business process automation by leveraging advanced connectors, drag-and-drop interfaces, and pre-configured use cases. Many enterprises are adopting Microsoft’s cloud services, such as Azure Functions and Azure API Management, to scale their applications seamlessly, extend functionality, and quickly adapt to changing business environments.

Alongside these established giants, emerging market participants such as Betty Blocks, LANSA INC., and Nintex UK Ltd. are also making significant contributions to the growth and innovation in the low-code application development platform space.

• Betty Blocks provides a user-friendly low-code platform designed to empower organizations to build powerful applications without relying heavily on complex infrastructure, advanced technology, or extensive IT resources. The company’s platform combines ease of use with robust functionality, offering enterprise and app development teams powerful AI-driven capabilities, an intuitive visual interface, a variety of pre-built components, and customizable templates to accelerate application development.

• LANSA INC. offers a comprehensive suite of application development and integration tools that span mobile and web application development, cloud deployment, data and process integration, and application modernization. The low-code solutions from LANSA are crafted to simplify the customization and modernization of enterprise-grade applications, helping businesses meet their growing operational needs while ensuring a strong return on investment.

Key Players

• Appian

• Betty Blocks

• Fujitsu

• LANSA INC.

• Mendix Technology BV

• Nintex UK Ltd

• Microsoft Corporation

• Oracle Corporation

• OutSystems

• Pegasystems Inc.

• Salesforce.com, Inc.

• ServiceNow

• TrackVia

• Tyler Technologies

• Zoho Corporation Pvt. Ltd.

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Conclusion:

The global low-code application development platform market is experiencing significant growth, driven by the increasing demand for rapid application development and digital transformation across various industries. These platforms enable organizations to develop applications with minimal hand-coding, thereby accelerating the development process and reducing costs. The adoption of low-code platforms is further supported by the integration of artificial intelligence and machine learning, enhancing automation and decision-making capabilities within applications. As businesses continue to seek efficient solutions to meet evolving customer needs, the low-code application development platform market is poised for sustained expansion.