The global sales of low code development are expected to reach US$ 14 Bn in 2022. As per the study, the industry is slated to reach a valuation of US$ 187 Bn by 2032, reflecting a positive CAGR of 29.5% throughout the assessment period.
By 2022, over 50% of SMEs will be on the verge of adopting low code or no code as their as premeditated application platform, wherein, low code will contribute to more than 65% of application development.
The report offers valuable and actionable insights into the Low Code Development market. Fact.MR latest report provides details on current market scenario in various regions along with historical data and market forecast. The report also includes information on sales and demand for the Low-Code Development market across various industries and regions.
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Global low-code development sales are expected to reach $14 billion in 2022. According to the study, the industry is projected to reach a valuation of $187 billion by 2032, reflecting a positive CAGR of 29 .5% throughout the evaluation period.
Market research conducted by Fact.MR provides exclusive insights into how the market will grow. The study identifies crucial trends that are driving the growth of the Low-Code Development market. This newly released report sheds light on vital dynamics such as drivers, restraints, and opportunities for key market players as well as emerging players associated with production and supply. Fact.MR’s latest report provides a detailed market analysis of low-code development
This newly released detailed report sheds light on Low Code Development Market Insights, key dynamics, its impact on the overall value chain from vendors to end-users, and Low Code Development market growth.
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Key Takeaways from the Market Study
- Global low code development market to be valued at US$ 14 Bn by the end of 2022
- By type, mobile application low code development platforms to yield over US$ 935 Mn in value
- Business intelligence & predictive analytics to increase at a whopping 20% CAGR
- More than 50% of low code development platforms to be deployed across SMEs
- U.S to emerge as the most opportunistic market, accumulating a revenue share of 65%
- China to be a potential cash cow, expected to yield around 3/5th of global low code development revenue
“As low code development has enabled businesses to develop applications 10xmore quickly with minimal resources, it has become a very reliable platform, particularly for the medical industry,” says a Fact.MR analyst.
Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from new technologies.
- In Jan 2022, Quickbase’s CIO discusses a low-code roadmap and the acquisition of MCF Tech. The company is looking forward to increasing its offerings and meeting market demand for that. This acquisition will help Quickbase to accelerate the development of infrastructure and some of the more complex projects as the world accelerates the building of infrastructure.
- In October 2021, Databricks, the data and AI Company, recently announced the acquisition of 8080 Labs, a German startup with cutting-edge technology. A popular UI-based data science tool from 8080 Labs, bamboolib enables fast and easy data exploration and transformation with just a couple of clicks, without writing any code. In addition, UI-driven capabilities will be integrated with Databricks’ Lakehouse Platform, marking Databricks’ entry into the low-code/no-code world.
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Key Segments Covered in Low Code Development
- By Deployment
- By Type
- General Purpose Platform
- Database Application Platform
- Mobile Application Platform
- Process Application Platform
- Request Handling Platform
- By Application Type
- Collaboration Site
- Electronics Forms
- Business Intelligence & Analytics
- Business Rules Management
- Predictive Analysis
- Other Application
- By Enterprise
- Small & Medium Enterprise (SMEs)
- Large Enterprise
- By Use Case
- IT & Telecommunication
- Retail & E-commerce
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More Valuable Insights On Low-Code Development Market
Fact.MR, in its new report, offers an unbiased market analysis of low-code development, sales, and demand for low-code development, looking at forecast statistics through 2019 and beyond. The study reveals growth projections based on several criteria.
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