Low-code Development Platform Market Size, Share & Trends Analysis Report By Application Type (Web-based, Mobile-based), By Deployment Type (Cloud, On-Premise), By Organization Size , By End-use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global low-code development platform market size was valued at USD 5.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of around 22.9% from 2022 to 2030. The growth can be credited to the growing interest of organizations in digital transformation and automation of their business processes. The increased need to rapidly deploy the solutions to automate the business operations has paved new ways for the adoption of low-code development platforms. These platforms deliver building blocks that the business users or IT developers can use for assembling into the workflows and applications without hand-coding.

The increasing consumer proclivity toward low-code development has created the need for improved ways to scale apps and educate the users, whether professional developers or business employees with these solutions. For instance, in May 2022, Pegasystems Inc. launched new Pega Platform templates, services, and training courses to help citizen developers create low-code applications quickly and effectively.

COVID-19 impact

The global outbreak of the COVID-19 pandemic positively impacted the market as several industries rushed to accelerate their digital transformation to meet the dynamically changing consumer and employee needs. The businesses had to shift their operations online during the pandemic which elevated the demand for software application development tools. The growing pressure on the organizations during the pandemic, to strengthen their digital capabilities urged the IT professionals to embrace new and faster ways of software development. Various organizations included non-technical staff in the development process to minimize the pressure on IT departments which created lucrative opportunities for the market.

Application Type Insights

The mobile-based application segment dominated the market and accounted for nearly 34.0% of revenue share in 2021. The typical mobile low-code development platforms include a mobile-based client application, a mobile middleware server, and a set of APIs. These features help in establishing connectivity with other cloud-based applications and required security protocols. A mobile-based client application provides connectivity to the middleware server and thus, serves the UI framework as well as the business logic suitable for a particular mobile device.

The web-based application segment is expected to record a CAGR of more than 22.1% from 2022 to 2030. The low-code development platforms help in accelerating as well as simplifying the development of web-based enterprise applications through their powerful IDE and user interfaces. Various low-code development platforms bring together the conventional and low-code development processes in the same IDE. They also provide controls for integrations, testing, and deployment while making the enterprises’ development team more productive.

Deployment Type Insights

The cloud deployment segment is expected to grow at a considerable rate of over 24.0% through 2030 with increasing adoption of cloud infrastructure and services to ease management and monitoring. Low-code platforms are becoming a major part of the existing cloud platform across various organizations that help them enhance their strategy, and reduce cost and complexity. Some of the renowned low-code platforms from major public cloud providers are Mendix on IBM Cloud, App Maker on Google Cloud Platforms, and PowerApps on Microsoft.

Organization Size Insights

The large enterprise segment accounted for a revenue share of around 70.0% in 2021 due to the increasing significance of software development across these organizations to attain agility and sustained growth. Large-scale enterprises are increasingly opting for low-code platforms to upskill their workforce, recruit citizen developers, and help pro coders work faster and smarter. Besides, the increasing need for digital transformation across large enterprises further accelerates segment growth.

The SMEs segment is estimated to register a growth rate of more than 24.0% from 2022 to 2030. This can be credited to the increasing consumer demand for high-quality digital applications, creating pressure on small enterprises to quickly develop applications and improve time to value. As a result, the SMEs are showing greater interest in low-code development platforms as they enable their non-IT employees to create applications quickly on their own and at a minimal cost. These platforms are usually available as subscription services and allow SMEs to pay only for what they use.

End-use Insights

The BFSI segment captured a sizeable revenue share of over 26.0% in 2021 owing to the increasing need to digitize financial services such as origination, onboarding of the client, self-servicing, and back office operations. They are showing an increased interest in low-code development platforms to improve user experiences, lower operational costs, enhance business agility, and reduce time to market. 

The automotive and manufacturing segment accounted for substantial revenue of more than USD 370.0 million in 2021. This can be attributed to the growing pressure on manufacturing companies to modernize their technology to enhance product quality and interaction with their customers, partners, and suppliers. Low-code platforms help them in attaining robust automation capabilities and enhancing their inventory and materials planning, product development, field service management, and quality management.

Regional Insights

North America dominated the low-code development platform market and accounted for a revenue share of nearly 31.0% in 2021 owing to the strong presence of several leading players in the region that are mainly focusing on the development of innovative products. For instance, in March 2020, Claris International Inc., a subsidiary of Apple, Inc., launched its low-code automation platform- Claris Connect designed to help SMEs address real-world challenges. This new solution consists of nearly 50 connectors, including some of the popular enterprise applications, such as Slack, Box, and Trello. It also offers features such as conditional logic, code blocks, approvals, and custom connectors.

Moreover, ServiceNow introduced its low-code development platform “Now” in Quebec, Canada featuring new low‑code app development tools and enhanced native AI capabilities. The new platform will empower customers to innovate their products and services quickly, increase productivity, and realize fast time‑to‑value. Several major companies, such as Adobe, Nike, Deutsche Telekom, Logitech, St. Jude Children’s Research Hospital, Medtronic, and others have adopted the Now Platform to accelerate their digital transformation.

Asia Pacific is expected to record the highest CAGR of more than 26.0% from 2022 to 2030 with the increasing incorporation of low-code platforms in the region, especially in China. Several local vendors in all major verticals are using these platforms to accelerate application delivery, expand developer taskforces, lower operating costs, and increase innovation. For instance, the low-code platform Mendix is being used by various Chinese companies, such as CIMC Vehicles, SAIC Motor, and Maxnerva Technology Services.

Key Companies & Market Share Insights 

The key companies operating in the market are largely focusing on product innovation and forming strategic alliances to strengthen their presence in the industry. For instance, in April 2022, Mendix Technology BV inked an extended partnership deal with Atos which will enable the latter to incorporate the Mendix low-code platform to facilitate decarbonization and hyper-automation across enterprises. Citing an example of product innovation, in May 2020, Quickbase introduced automation and drag-and-drop integration capabilities to its low-code platform to empower enterprise users to build workflows easily. The addition of these secure integration and automation features for business users makes Quickbase a complete low-code platform delivering operational agility and insights.

Some of the prominent players in the global low-code development platform market include:

• Appian

• Creatio

• LANSA

• Mendix Technology BV

• Microsoft

• Oracle

• OutSystems

• Pegasystems Inc.

• Quickbase

• Salesforce, Inc.

• Servicenow

• Zoho Corporation Pvt. Ltd. 

Low-Code Development Platform Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global low-code development platform market report based on application type, deployment type, organization size, end-use, and region:

• Application Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Web-based

  • Mobile-based

• Deployment Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Cloud

  • On-premise

• Organization Size Outlook (Revenue, USD Million, 2018 - 2030)

  • SME

  • Large Enterprise

• End-Use Outlook (Revenue, USD Million, 2018 - 2030)

  • BFSI

  • Automotive & Manufacturing

  • Retail

  • Education

  • IT & Telecom

  • Transportation & Logistics

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa