The low-code development platform market was valued at USD 24.8 billion in 2023, and it will rise to USD 167.0 billion, growing at a 31.4% compound annual growth rate, by 2030.
The rising need for business digitization is an important factor boosting the growth of this industry.
With the digital revolution, businesses in the manufacturing, BFSI, oil & gas, automotive, and other sectors are swiftly accepting digital technologies to stay ahead.
Low-code development platforms play an important part in the digital transformation of businesses, assisting in decreasing the resources and duration consumed by the conventional software development procedure.
In the present economic situation and rising competition in the industry, businesses are continuously trying to achieve more effectiveness with limited resources.
This forms an important requirement for an effective TTM strategy to keep consumers engaged with innovative features and applications.
Digital transformation in healthcare, BFSI, retail, education, and various other sectors has improved the operations of respective organizations.
Businesses provide digital applications to retain their consumers, offer great satisfaction to customers, and sustain data in a systematized way.
Low-code development platform provides quicker development of applications, ease in making mobile and web applications, and accessibility of drag-and-drop templates, which improve developed applications' scalability.
Businesses can now make new applications in less time to sustain and compete in the industry.
Market Insights
North America was the largest contributor to the industry in 2023, with a 45% share. This can be because of the fast acceptance of digital technologies and the presence of many major players in this region.
APAC will advance at the fastest rate, of 31.8%, in the coming years. This is due to the rising internet usage and the requirement of businesses to decrease operating expenses.
The solution category led the industry in 2023, with more than 70% share, because of the increasing acceptance of these platforms across various verticals to decrease the long-term expenditures on operations.
The services category will propel at a higher rate, of 31.6%, in the coming years, because of the rising need for incorporation and implementation services.
The cloud category is leading the industry, and it will observe a higher growth rate, of 31.5%, in the coming years.
Most low-code development platforms are deployed through the cloud because it provide real-time access to observe and track services and apps.
Large enterprises led the industry in 2023, with a share of approximately 65%.
Large enterprises have a greater budget to employ low-code development platforms to make many new applications for their processes in less time.
The SMEs category is likely to advance at a faster compound annual growth rate, of 31.7%, in the years to come.
This is primarily because of the inclination of SMEs toward cloud-based low-code development platforms to reduce cost and resource barriers for the development of applications.
The IT category was the largest contributor to the industry in 2023, with approximately 30% share. This is mainly because of the quick acceptance of novel technologies.
The low-code development platform industry is very fragmented, because of the existence of some major companies.
Swift advancements in digital technologies like predictive analysis, ML, and AI, coupled with the digital revolution of sectors have heightened competition in this market.
Table of Contents
Chapter 1. Research Scope
1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
1.4.1. Market size breakdown, by offering
1.4.2. Market size breakdown, by deployment type
1.4.3. Market size breakdown, by enterprise size
1.4.4. Market size breakdown, by vertical
1.4.5. Market size breakdown, by region
1.4.6. Market size breakdown, by country
1.5. Market Data Reporting Unit
1.5.1. Value
1.6. Key Stakeholders
Chapter 2. Research Methodology
2.1. Secondary Research
2.1.1. Paid
2.1.2. Unpaid
2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
5.1. Market Dynamics
5.1.1. Trends
5.1.2. Drivers
5.1.3. Restraints/challenges
5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
5.3.1. Bargaining power of buyers
5.3.2. Bargaining power of suppliers
5.3.3. Threat of new entrants
5.3.4. Intensity of rivalry
5.3.5. Threat of substitutes
Chapter 6. Global Market
6.1. Overview
6.2. Market Revenue, by Offering (2017-2030)
6.3. Market Revenue, by Deployment Type (2017-2030)
6.4. Market Revenue, by Enterprise Size (2017-2030)
6.5. Market Revenue, by Vertical (2017-2030)
6.6. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
7.1. Overview
7.2. Market Revenue, by Offering (2017-2030)
7.3. Market Revenue, by Deployment Type (2017-2030)
7.4. Market Revenue, by Enterprise Size (2017-2030)
7.5. Market Revenue, by Vertical (2017-2030)
7.6. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
8.1. Overview
8.2. Market Revenue, by Offering (2017-2030)
8.3. Market Revenue, by Deployment Type (2017-2030)
8.4. Market Revenue, by Enterprise Size (2017-2030)
8.5. Market Revenue, by Vertical (2017-2030)
8.6. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
9.1. Overview
9.2. Market Revenue, by Offering (2017-2030)
9.3. Market Revenue, by Deployment Type (2017-2030)
9.4. Market Revenue, by Enterprise Size (2017-2030)
9.5. Market Revenue, by Vertical (2017-2030)
9.6. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
10.1. Overview
10.2. Market Revenue, by Offering (2017-2030)
10.3. Market Revenue, by Deployment Type (2017-2030)
10.4. Market Revenue, by Enterprise Size (2017-2030)
10.5. Market Revenue, by Vertical (2017-2030)
10.6. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
11.1. Overview
11.2. Market Revenue, by Offering (2017-2030)
11.3. Market Revenue, by Deployment Type (2017-2030)
11.4. Market Revenue, by Enterprise Size (2017-2030)
11.5. Market Revenue, by Vertical (2017-2030)
11.6. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
12.1. Overview
12.2. Market Revenue, by Offering (2017-2030)
12.3. Market Revenue, by Deployment Type (2017-2030)
12.4. Market Revenue, by Enterprise Size (2017-2030)
12.5. Market Revenue, by Vertical (2017-2030)
Chapter 13. Canada Market
13.1. Overview
13.2. Market Revenue, by Offering (2017-2030)
13.3. Market Revenue, by Deployment Type (2017-2030)
13.4. Market Revenue, by Enterprise Size (2017-2030)
13.5. Market Revenue, by Vertical (2017-2030)
Chapter 14. Germany Market
14.1. Overview
14.2. Market Revenue, by Offering (2017-2030)
14.3. Market Revenue, by Deployment Type (2017-2030)
14.4. Market Revenue, by Enterprise Size (2017-2030)
14.5. Market Revenue, by Vertical (2017-2030)
Chapter 15. France Market
15.1. Overview
15.2. Market Revenue, by Offering (2017-2030)
15.3. Market Revenue, by Deployment Type (2017-2030)
15.4. Market Revenue, by Enterprise Size (2017-2030)
15.5. Market Revenue, by Vertical (2017-2030)
Chapter 16. U.K. Market
16.1. Overview
16.2. Market Revenue, by Offering (2017-2030)
16.3. Market Revenue, by Deployment Type (2017-2030)
16.4. Market Revenue, by Enterprise Size (2017-2030)
16.5. Market Revenue, by Vertical (2017-2030)
Chapter 17. Italy Market
17.1. Overview
17.2. Market Revenue, by Offering (2017-2030)
17.3. Market Revenue, by Deployment Type (2017-2030)
17.4. Market Revenue, by Enterprise Size (2017-2030)
17.5. Market Revenue, by Vertical (2017-2030)
Chapter 18. Spain Market
18.1. Overview
18.2. Market Revenue, by Offering (2017-2030)
18.3. Market Revenue, by Deployment Type (2017-2030)
18.4. Market Revenue, by Enterprise Size (2017-2030)
18.5. Market Revenue, by Vertical (2017-2030)
Chapter 19. Japan Market
19.1. Overview
19.2. Market Revenue, by Offering (2017-2030)
19.3. Market Revenue, by Deployment Type (2017-2030)
19.4. Market Revenue, by Enterprise Size (2017-2030)
19.5. Market Revenue, by Vertical (2017-2030)
Chapter 20. China Market
20.1. Overview
20.2. Market Revenue, by Offering (2017-2030)
20.3. Market Revenue, by Deployment Type (2017-2030)
20.4. Market Revenue, by Enterprise Size (2017-2030)
20.5. Market Revenue, by Vertical (2017-2030)
Chapter 21. India Market
21.1. Overview
21.2. Market Revenue, by Offering (2017-2030)
21.3. Market Revenue, by Deployment Type (2017-2030)
21.4. Market Revenue, by Enterprise Size (2017-2030)
21.5. Market Revenue, by Vertical (2017-2030)
Chapter 22. Australia Market
22.1. Overview
22.2. Market Revenue, by Offering (2017-2030)
22.3. Market Revenue, by Deployment Type (2017-2030)
22.4. Market Revenue, by Enterprise Size (2017-2030)
22.5. Market Revenue, by Vertical (2017-2030)
Chapter 23. South Korea Market
23.1. Overview
23.2. Market Revenue, by Offering (2017-2030)
23.3. Market Revenue, by Deployment Type (2017-2030)
23.4. Market Revenue, by Enterprise Size (2017-2030)
23.5. Market Revenue, by Vertical (2017-2030)
Chapter 24. Brazil Market
24.1. Overview
24.2. Market Revenue, by Offering (2017-2030)
24.3. Market Revenue, by Deployment Type (2017-2030)
24.4. Market Revenue, by Enterprise Size (2017-2030)
24.5. Market Revenue, by Vertical (2017-2030)
Chapter 25. Mexico Market
25.1. Overview
25.2. Market Revenue, by Offering (2017-2030)
25.3. Market Revenue, by Deployment Type (2017-2030)
25.4. Market Revenue, by Enterprise Size (2017-2030)
25.5. Market Revenue, by Vertical (2017-2030)
Chapter 26. Saudi Arabia Market
26.1. Overview
26.2. Market Revenue, by Offering (2017-2030)
26.3. Market Revenue, by Deployment Type (2017-2030)
26.4. Market Revenue, by Enterprise Size (2017-2030)
26.5. Market Revenue, by Vertical (2017-2030)
Chapter 27. South Africa Market
27.1. Overview
27.2. Market Revenue, by Offering (2017-2030)
27.3. Market Revenue, by Deployment Type (2017-2030)
27.4. Market Revenue, by Enterprise Size (2017-2030)
27.5. Market Revenue, by Vertical (2017-2030)
Chapter 28. U.A.E. Market
28.1. Overview
28.2. Market Revenue, by Offering (2017-2030)
28.3. Market Revenue, by Deployment Type (2017-2030)
28.4. Market Revenue, by Enterprise Size (2017-2030)