403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Low-Code Development Platform Market to Reach $167 Billion by 2030, Driven by AI Integration and Digital Transformation
(MENAFN- P&S Intelligence) The global low-code development platform market is undergoing a transformative expansion, largely fueled by the rising demand for agile and efficient application development across various sectors. As organizations strive to modernize operations and accelerate their digital transformation efforts, low-code platforms have emerged as a powerful solution that bridges the gap between IT and business teams. According to P&S Intelligence, the market was valued at USD 24.8 billion in 2023 and is projected to skyrocket to USD 167.0 billion by 2030, registering an impressive CAGR of 31.4% during the forecast period.
This exponential growth can be attributed to the increasing need for faster time-to-market, cost savings, and reduced dependency on traditional programming. These platforms empower even non-technical users to create and deploy complex applications through visual interfaces and pre-built templates, significantly reducing development cycles. Furthermore, the integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) into low-code platforms is enhancing their capabilities, making them even more valuable for businesses aiming to stay competitive in the digital age.
Key Insights
The market is segmented by offering into solutions and services. Solutions form the core of the market, enabling end-users to develop, test, and deploy applications rapidly. Services, including consulting, support, and maintenance, complement these offerings by enhancing user experience and ensuring platform effectiveness.
Based on deployment, the market is categorized into cloud and on-premises. Cloud-based platforms dominate due to their scalability, lower upfront costs, and ease of integration with other cloud services. However, on-premises deployment still holds significance for organizations with strict data security and compliance requirements.
The enterprise-size segmentation reveals that large enterprises are the major adopters of low-code platforms, driven by the need to manage complex workflows and integrate legacy systems. However, small and medium-sized enterprises (SMEs) are increasingly adopting these platforms due to their affordability and the flexibility to create customized solutions without a large IT team.
From a vertical perspective, the IT and telecom industry is the largest end user, leveraging low-code platforms to streamline operations, automate routine tasks, and accelerate service delivery. Other key verticals include BFSI, healthcare, retail, government, manufacturing, media & entertainment, education, and energy & utilities, showcasing the broad applicability of these platforms.
Regionally, North America leads the market, owing to early technology adoption, strong presence of key vendors, and high investment in enterprise digital transformation. Meanwhile, Asia-Pacific is poised to witness the fastest growth, driven by rapid urbanization, increasing smartphone penetration, and rising demand for efficient IT solutions in countries like China, India, and Southeast Asia.
The market is witnessing strong innovation, particularly in AI integration. AI-enabled low-code platforms can now offer intelligent recommendations, automated testing, and enhanced analytics, allowing for even more intuitive development environments.
The competitive landscape is highly dynamic, with both established players and emerging startups offering differentiated solutions. Companies are focusing on strategic collaborations, platform enhancements, and mergers & acquisitions to expand their portfolios and gain a competitive edge.
Key players are also investing in training and certification programs to expand the user base by equipping business users with development capabilities.
Opportunities continue to grow as industries such as healthcare and education seek faster, cost-effective digital solutions. The ability to deliver customized applications quickly makes low-code platforms a go-to tool for mission-critical and customer-facing applications.
The surge in citizen development—where business users create their own applications with minimal IT involvement—is reshaping traditional development processes and creating new efficiencies across organizations.
This exponential growth can be attributed to the increasing need for faster time-to-market, cost savings, and reduced dependency on traditional programming. These platforms empower even non-technical users to create and deploy complex applications through visual interfaces and pre-built templates, significantly reducing development cycles. Furthermore, the integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) into low-code platforms is enhancing their capabilities, making them even more valuable for businesses aiming to stay competitive in the digital age.
Key Insights
The market is segmented by offering into solutions and services. Solutions form the core of the market, enabling end-users to develop, test, and deploy applications rapidly. Services, including consulting, support, and maintenance, complement these offerings by enhancing user experience and ensuring platform effectiveness.
Based on deployment, the market is categorized into cloud and on-premises. Cloud-based platforms dominate due to their scalability, lower upfront costs, and ease of integration with other cloud services. However, on-premises deployment still holds significance for organizations with strict data security and compliance requirements.
The enterprise-size segmentation reveals that large enterprises are the major adopters of low-code platforms, driven by the need to manage complex workflows and integrate legacy systems. However, small and medium-sized enterprises (SMEs) are increasingly adopting these platforms due to their affordability and the flexibility to create customized solutions without a large IT team.
From a vertical perspective, the IT and telecom industry is the largest end user, leveraging low-code platforms to streamline operations, automate routine tasks, and accelerate service delivery. Other key verticals include BFSI, healthcare, retail, government, manufacturing, media & entertainment, education, and energy & utilities, showcasing the broad applicability of these platforms.
Regionally, North America leads the market, owing to early technology adoption, strong presence of key vendors, and high investment in enterprise digital transformation. Meanwhile, Asia-Pacific is poised to witness the fastest growth, driven by rapid urbanization, increasing smartphone penetration, and rising demand for efficient IT solutions in countries like China, India, and Southeast Asia.
The market is witnessing strong innovation, particularly in AI integration. AI-enabled low-code platforms can now offer intelligent recommendations, automated testing, and enhanced analytics, allowing for even more intuitive development environments.
The competitive landscape is highly dynamic, with both established players and emerging startups offering differentiated solutions. Companies are focusing on strategic collaborations, platform enhancements, and mergers & acquisitions to expand their portfolios and gain a competitive edge.
Key players are also investing in training and certification programs to expand the user base by equipping business users with development capabilities.
Opportunities continue to grow as industries such as healthcare and education seek faster, cost-effective digital solutions. The ability to deliver customized applications quickly makes low-code platforms a go-to tool for mission-critical and customer-facing applications.
The surge in citizen development—where business users create their own applications with minimal IT involvement—is reshaping traditional development processes and creating new efficiencies across organizations.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
More Story
Comments
No comment