This report segments the low-code development platform market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions
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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 key players in the Low-Code Development Platform Market include – Appian (US), Sales force(US), Service Now (US), Agile Point (US), Bizagi (UK), Caspio (US), K2 (US), Mats Soft Limited (UK), Mendix (US), and Out Systems (US).
The research covers the low-code development platform market on the basis of different segments, such as components (solution and services), deployment modes, organization size, application types, and verticals in North America, Europe, APAC, MEA, and Latin America. Additionally, it includes the factors that are expected to be driving the growth of the low-code development platform market and its growth opportunities.
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It also includes the restraining factors and challenges that are possibly limiting the growth of the low-code development platform market. Moreover, the report includes detailed company profiles of the key players offering low-code development platform and services.
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.
Based on component, the services segment is estimated to account for the largest share of the Low-Code Development Platform market in 2017.The services segment of the Low-Code Development Platform market has been further classified into implementation & integration, training & consulting, and others. Services serve to be the key business differentiators for enterprises as Low-Code Development Platform service providers provide training to network operators and develop required skill sets in them to leverage the latest technological advancements in the field of Low-Code Development Platform.
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