Low Code Development Platform Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Low Code Market Trends and is Segmented by Application Type (Web-Based, Mobile-Based, Desktop- and Server-Based), Deployment Type (On-Premise and Cloud), Organization Size (Small and Medium Enterprises, Large Enterprises), End-User Verticals (BFSI, Retail and E-Commerce, Information Technology, Energy & Utilities, Manufacturing, Healthcare, Government and Defense, and Other End-User Verticals), and Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The Market Sizes and Forecasts Regarding Value (USD) for all the Above Segments are Provided.

Low Code Development Platform Market Size

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Low-Code Development Platform Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 16.17 Billion
Market Size (2029) USD 62.15 Billion
CAGR (2024 - 2029) 30.90 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Low Code Development Platform Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Low Code Development Platform Market Analysis

The Low-code Development Platform Market size is estimated at USD 16.17 billion in 2024, and is expected to reach USD 62.15 billion by 2029, growing at a CAGR of 30.90% during the forecast period (2024-2029).

The rapid growth of low-code adoption happened after businesses moved to digital modernization, which included improving user experiences, automating processes, and upgrading critical systems. Due to their low cost, low-code development platforms proved ideal.

  • The advantage of low code is its drag-and-drop interface, which saves time. In low code, every single process is shown visually with the help of a graphical interface that makes everything easier to understand. It is easier for developers to create their applications.
  • Although low-code solutions are not new, the demand for the technology soared in the last two years as companies were challenged to meet stakeholder demand for more digital transformation. Through faster business application delivery, companies can expand digital transformation efforts with low-code tools. In addition, the time it takes to innovate is dramatically reduced with low-code tools.
  • Low-code solutions allow organizations to produce working solutions and integrations with more speed and agility than traditional on-premise developments. Integration used to be a labor-intensive IT process requiring custom development on both sides.
  • The low-code solution might not be compatible with any competitor or similar provider. Even if the user can export the source code, it will depend on the vendor's platform to work, and the user can only use it as a backup.
  • The disruption caused by the COVID-19 pandemic increased the tendency of enterprises to adopt low-code platforms. Companies that did not previously contain low-code platform systems could not easily and quickly adapt their ERP system to the new challenges of remote operations. On the other hand, companies with a low-code platform adapted significantly faster.

Low Code Development Platform Market Trends

Information Technology Segment to Witness Significant Growth

  • Over the past few years, enterprises operating in the IT sector showed greater interest in LCDPs, owing to their significant payoffs for their developers and customers relying on their software applications.
  • IT enterprises played a key role in dominating the low-code development platform market. This is because the firms operating in this vertical need to develop many applications, either for mobile or online (or both), for themselves and their clients.
  • The benefits of low-code development platforms enabled apps to be created, shared, and updated quickly, leading to improved productivity and optimized resource utilization. It is thus driving the demand for LCDPs among IT companies.
  • As per recent research conducted by Caspio, 63% of low-code platform users include the skill and resources to fulfill the demand for custom apps, whereas 61% suggest that they successfully deliver custom apps on time, on scope, and within budget. Further, 58% of respondents using low-code platforms indicated that they can keep up with the business's demand for custom app requests.
  • Further, amid the COVID-19 pandemic, the sector witnessed huge backlogs with the rising request for packaged software and apps from enterprises to engage with customers and clients over the Internet. Thus, IT enterprises are required to deploy these platforms to ensure a competitive advantage and optimized resource utilization.
Global Low Code Development Platform Market - Growth in usage of low code from 2022 to 2024, in Percentage

Asia Pacific is Expected to Hold the Largest Market Share

  • The Asia-Pacific region is anticipated to grow significantly over the forecast period, owing to the increasing adoption of mobile applications. Additionally, the region includes many SMEs with limited resources, forcing them to adopt managed services. The governments in the region also adopted a mobile-first strategy to provide better services to their citizens, thereby driving the market.
  • Huawei Global Technical Service launched the General Digital Engine (GDE) platform. The GDE adopts the "1+4+N" architecture: "1" is an open cloud-native platform. "4" means four capabilities that enable data sharing, intelligent production flow, capability sharing, and integrated low-code self-development. The platform introduces digital and smart technologies into carriers' planning, construction, maintenance, optimization, and operation processes to help them transform into digital carriers and partners, enabling operations to innovate "N" application scenarios.
  • On November 14th, 2023, OutSystems Japan Co., Ltd. announced the debut of their low-code solution OutSystems Developer Cloud for cloud-native application development in the Japanese market. OutSystems offers a high-performance, low-code application platform for developers and enterprise developers. It can be utilized securely in large-scale applications and allows full-stack development from front-end to back-end.
  • In January 2022, San Francisco-based low-code platform Retool announced that it might expand its presence in India with exclusive offerings as it could see massive traction from IT service providers and startups.
  • Many digital initiatives and development, including low-code platforms, are occurring in India. In July 2022, Kissflow, a Chennai-based SaaS firm, released its unified low-code/no-code work platform, accelerating business digital transformation. The new platform combines the whole range of task management for enterprise-wide users. End users, teams, team managers, process specialists, citizen developers, and IT developers are all included.
Low Code Development Platform Market

Low Code Development Platform Industry Overview

The low-code development platform market is moderately fragmented, with many players, significant governance challenges globally, and smaller vendors cumulatively holding a major market share. The market vendors with deep pockets are actively involved in strategic M&A activities, while small companies are involved in product innovation strategies to gain market share.

  • March 2023 - Pega the low-code platform provider empowering the leading enterprises to Build for Change announced plans to extend its use of AI in its platform with a set of new generative AI capabilities across Pega Infinity. Company has Integrated new generative AI technology to accelerate low-code app development and improve customer engagement.
  • March 2023 - Microsoft Corporation announced the release of the newesta next-generation AI Copilot in Microsoft Power Apps that will transform low-code development. The next generation of AI technology to the very first step of application development. Developers will be able to build their business applications through an intuitive natural language conversation with Copilot in Power Apps.

Low Code Development Platform Market Leaders

  1. Salesforce.com Inc.

  2. Microsoft Corporation

  3. Appian Corporation

  4. Oracle Corporation

  5. Pegasystems Inc.

*Disclaimer: Major Players sorted in no particular order

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Low Code Development Platform Market News

  • January 2024 - Oracle’s low-code platform is constantly improving. With the launch of Oracle APEX versions 23.1 and 22.1, the technology gained many powerful and useful features. 
  • May 2023 - Appian advances low-code into new era Of AI Process Automation. As an integral part of the progression in the Appian Platform, the company has now added key elements of Artificial Intelligence (AI) into its total technology proposition. 

Low Code Development Platform Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Assessment of the Impact of COVID -19 on the Industry

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Increasing Need for Rapid Customization and Scalability

      2. 5.1.2 Increasing Enterprise Mobility

      3. 5.1.3 Elimination of Gaps in Required IT Skills

    2. 5.2 Market Challenges

      1. 5.2.1 Dependency on Vendor Supplied Customization

  6. 6. EMERGING TECHNOLOGY TRENDS

  7. 7. MARKET SEGMENTATION

    1. 7.1 By Application Type

      1. 7.1.1 Web-based

      2. 7.1.2 Mobile-based

      3. 7.1.3 Desktop- and Server-based

    2. 7.2 By Deployment Type

      1. 7.2.1 On-premise

      2. 7.2.2 Cloud

    3. 7.3 By Organization Size

      1. 7.3.1 Small and Medium Enterprises

      2. 7.3.2 Large Enterprises

    4. 7.4 By End-user Vertical

      1. 7.4.1 BFSI

      2. 7.4.2 Retail and E-commerce

      3. 7.4.3 Government and Defense

      4. 7.4.4 Information Technology

      5. 7.4.5 Energy and Utilities

      6. 7.4.6 Manufacturing

      7. 7.4.7 Healthcare

      8. 7.4.8 Other End-user Verticals

    5. 7.5 By Geography***

      1. 7.5.1 North America

      2. 7.5.2 Europe

      3. 7.5.3 Asia

      4. 7.5.4 Australia and New Zealand

      5. 7.5.5 Latin America

      6. 7.5.6 Middle East and Africa

  8. 8. COMPETITIVE LANDSCAPE

    1. 8.1 Company Profiles*

      1. 8.1.1 Microsoft Corporation

      2. 8.1.2 Appian Corporation

      3. 8.1.3 Oracle Corporation

      4. 8.1.4 Pegasystems Inc.

      5. 8.1.5 Magic Software Enterprises Ltd

      6. 8.1.6 AgilePoint Inc.

      7. 8.1.7 Outsystems Inc.

      8. 8.1.8 Mendix Inc.

      9. 8.1.9 ZOHO Corporation

      10. 8.1.10 QuickBase Inc.

      11. 8.1.11 Clear Software LLC

      12. 8.1.12 Kony Inc. 8.14 ServiceNow Inc.

      13. 8.1.13 Skuid Inc.

  9. 9. VENDOR MARKET POSITIONING ANALYSIS

  10. 10. INVESTMENT ANALYSIS

  11. 11. MARKET OPPORTUNITIES AND FUTURE OF THE MARKET

**Subject to Availability
***In the final report, Asia, Australia, and New Zealand will be studied together as 'Asia Pacific'
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Low Code Development Platform Industry Segmentation

A low-code development platform (LCDP) offers a coding environment that enables developers with varying expertise to build applications. It uses a dynamic graphical user interface and configuration with model-driven logic instead of conventional hand-coded computer programming. For specific situations, these platforms may require extensive coding.

The Low-code development platform market is segmented by application type (web-based, mobile-based, desktop and server-based), deployment type (on-premise and cloud), organization size (small and medium enterprises, and large enterprises), end-user verticals (BFSI, retail and E-commerce, information technology, energy & utilities, manufacturing, healthcare, government, and defense, and other end-user verticals), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts regarding value (USD) for all the above segments are provided.

By Application Type
Web-based
Mobile-based
Desktop- and Server-based
By Deployment Type
On-premise
Cloud
By Organization Size
Small and Medium Enterprises
Large Enterprises
By End-user Vertical
BFSI
Retail and E-commerce
Government and Defense
Information Technology
Energy and Utilities
Manufacturing
Healthcare
Other End-user Verticals
By Geography***
North America
Europe
Asia
Australia and New Zealand
Latin America
Middle East and Africa
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Low Code Development Platform Market Research FAQs

The Low-code Development Platform Market size is expected to reach USD 16.17 billion in 2024 and grow at a CAGR of 30.90% to reach USD 62.15 billion by 2029.

In 2024, the Low-code Development Platform Market size is expected to reach USD 16.17 billion.

Salesforce.com Inc., Microsoft Corporation, Appian Corporation, Oracle Corporation and Pegasystems Inc. are the major companies operating in the Low-code Development Platform Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Low-code Development Platform Market.

In 2023, the Low-code Development Platform Market size was estimated at USD 11.17 billion. The report covers the Low-code Development Platform Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Low-code Development Platform Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The Low Code or No Code Development Market is driven by: a) Need for rapid application development b) Scarcity of skilled developers c) Digital transformation across industries d) Demand for streamlined business operations

Low Code Development Platform Industry Report

The global market for low-code app development platforms is witnessing significant growth, fueled by the need for digital transformation and automation across various sectors, notably in the Banking, Financial Services and Insurance (BFSI) segment which is utilizing these platforms to enhance operations and customer experiences. This surge is driven by the demand for rapid customization and scalability, particularly in web-based applications, allowing for swift deployment without extensive coding knowledge. North America dominates the market share due to its technological infrastructure, but the Asia Pacific region is set to experience the highest growth rate, spurred by digital initiatives and the adoption of mobile applications, especially among Small and Medium-Sized Enterprises (SMEs). The education sector's adoption of low-code platforms for custom application development highlights the expanding low-code market size. These platforms are increasingly recognized for their ability to enable rapid application development, fostering innovation and competitiveness in the digital era. For detailed insights, Mordor Intelligence™ offers a comprehensive analysis of the low-code development platform market, including size, share, growth rate, and revenue forecasts, available as a free report PDF download.

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Low Code Development Platform Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)