Global Rapid Application Development Market Size

Rapid Application Development Market Analysis

The Global Rapid Application Development Market is anticipated to reach a CAGR of 42.8% during the forecast period (2022 - 2027). The market's growth is attributed to the advantages over other development models, such as requirements that can be changed at any time, encouraging and prioritizing customer feedback, and more.

• The increasing developments, growing demand for applications integration, and rising need for microservices with robust application requirements are some of the major factors driving the studied market growth over the forecast period. Further, growing innovations across businesses and integrating advanced technologies in their business processes augment the demand for application development across industries.
• In May 2021, The software and digital engineering products company, Innominds launched its low-code platform for software development. With the market release of the platform, called iSymphony, Innominds joins the fast-growing low-code no-code movement for rapid application development (RAD). iSymphony provides a development environment to create application software through a graphical user interface and configuration instead of traditional hand-coded computer programming.
• According to DigitalOcean, 65% of founders in 2020 cite technical know-how around maintaining infrastructure as a top barrier to entry for new businesses. Handling everyday infrastructure tasks like provisioning and managing servers, operating systems, databases, application runtimes, and other dependencies, with the help of application platform solutions, enables enterprises to gain competitive advantages.
• Retail and Financial enterprises deliver the most engaging mobile application solutions with the help of rapid application development platforms. End users are adopting a range of mobile applications, from rich native mobile applications with iOS and Android device integrations to lightweight progressive web applications that don't require App Store downloads.
• RAD relies on rapid iteration and development. This requires advanced skills in the field. All parties involved must have equivalent and appropriate professional competence, and forming such a team could be difficult. Rapid application development works well with small, closely related teams. This is because this model requires effective collaboration. Further, this could be a challenge without experienced professionals in an organization.
• The COVID-19 outbreak has expanded the studied market scope, owing to the growing investment in digital applications across all industries. Industries that could have taken months and years to adopt digital and cloud technologies are now mainly relying on these for working efficiently. This is a further growing need for tools and platforms that streamline processes and eliminate time-consuming tasks. Hence, the demand for rapid application development platforms is expected to increase, as it is an application development model that places a heavy focus on speed, user strategy, and prototyping.