February 2024
10 Oct 2024
The global low-code development platform market revenue was valued at USD 10.46 billion in 2024 and is expected to attain around USD 67.01 billion by 2033, growing at a CAGR of 22.92% during forecast period. The demand of remote work has increased the need for low-code development platforms. Growing requirement of digital transformation expanding global low-code development platform market. Additionally, increasing adaption of cloud computing expected to drive market growth.
Growing global use of software applications are significantly influencing lo-code development platform market. IT business is the major users of low-cost developments platform for their employee bases and to create novel consumer software applications. However, some IT professional has doubts for the platform to be useful in large-scale and mission-critical enterprise applications. Even though business have their preference toward platform for reducing cost and effectiveness of developments. Several factors like, demand of citizen development, digital transformation initiatives, and requirement of rapid application developments are driving the global market.
Moreover, the COVID-19 pandemic encouraged the remote work culture, that increased requirement of collaborative low-cost platforms. Limitation of skilled developers driving business to adopted code-free solutions. In recent years, machine learning and natural language processing application has reach to noticeable success. Worlds growing craze toward digitalization encouraging novel innovation in development platforms.
Compared to the hand coding of conventional developments, low-code automations utilize visual tools and minimizes coding. Industries are increasing utilization of low-code technologies to generate speedy applications. Adaption of Enterprise-Wide Hyper-Automation and AI-powered automation leading organization to enhance productivity, effectiveness of the automated applications.
Organizations are frequently contributing in low-code cloud computing for rapid application developments, minimizing cost, and improve agility and flexibility. Cloud computing trends boosting the demand of several low-code platform like infrastructure-as-a-service (IaaS), software-as-a-service (SaaS), Edge computing, serverless computing, platform-as-a-service (PaaS).
Government agencies and life science sectors are leveraging low-code development platforms to develop citizen-centric applications, improve service delivery, foster digital integrations, streamline process, and enhance transparency for public.
Healthcare and life science sector are spectacularly adapting low-code development platforms for management of patients, monitoring HER, better decision-making, enhance research results. Healthcare sector has witness significant growth of low-code application utilization in clinical trails for rapid and better outcome.
North America dominated market
North America continues to dominated the global low-code development platform market with the innovation activities by regulatory affairs and government policies. Government has promoted digital transformation strategies to enhance life science services in region. Regulatory bodies of United States are adapting sandbox for minizine the strict regulation while innovations in technology leading to develop citizen-centric applications, and encourage industries and digital transformations. US government promoted the “American Technology Agenda” to encourage digital innovations, economic competitiveness of country. U.S government provide initiatives like US Digital Service to enhance digital services and improve novel innovations. In order to improve digital economy, innovations, consumer trust, and inclusivity, Canadian government promoted Canada’s Digital Charter.
Industry-academic collaborations like Google partnership with California University, Berkeley’s “Centre for information Technology Research in the Interest of Society” for advancement in cybersecurity accounted great innovations for low-code applications. Canadian government is seeking innovations in cutting-edge e-government projects by collaborating with academic institutes. Canada’s government developed NSERC grant partnership with university-industry for improvement and advancement of in novel digital application. Ongoing collaborations and government support are driving innovations in low-code development platforms in North America.
Asia Pacific is observed to be fastest growing in global lo-code development platform with growing innovations and countries initiatives. Asia-Pacific Economic Corporation (APEC) promotes the digital economy and innovations. The Information Technology (IT) Act, 2000 has being helping India to overcome on major digital hamper of cybersecurity. Regulatory bodies of Singapore promoted the Personal Data Protection Act (2020) for protection of personal data collection.
Indian government initiated “Digital India” program to promote digitalization in country by encouraging e-government initiatives, digital payments, online classes, online service deliveries, cloud infrastructures, and promoting digital infrastructures. Singapore’s “Smart Nation” initiative encourage government technology lo-code platforms, and prompted lo-code development guidelines, and helped nations to enhance citizen-centric services and digital transformation plans.
South Korea also contributed is share in low-code developments. South Koreas “Digital-government low-code platform” initiative enable modular architecture, increased cloud-natives, promoted API-based integration for exchange data between government agencies. These innovations poised Asia Pacific region toward adaption of low-code development platform for innovations, effective delivery services, and transformation. Ongoing innovations and increased utilization of digital platforms are encouraging start-up and small-scall companies’ developments in region.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 10.46 Billion |
| Market Revenue by 2033 | USD 67.01 Billion |
| CAGR | 22.92% from 2023 to 2033 |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | North America |
| Base Year | 2023 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Market Segmentation
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By Organization Type
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