Low Code Development Platform Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032

The Global Low Code Development Platform Market was estimated to be US$ 12.5 Billion in 2022 and is expected to reach US$ 115 Billion by 2032 at a CAGR of 24.9%.

A low-code development platform is a software development framework that allows users to create applications with minimal manual coding. It provides a visual interface and pre-built components that enable users, including both professional developers and citizen developers, to build applications using a visual drag-and-drop approach, configuration settings, and declarative programming.

Low-code development platforms aim to simplify and accelerate the application development process by abstracting complex coding tasks and offering a higher level of abstraction. They typically provide a range of features and tools such as visual editors, pre-built templates, integration capabilities, database management, and deployment options.

These platforms enable users to create functional and scalable applications without the need for extensive programming knowledge or expertise. They provide an environment where users can design user interfaces, define data models, implement business logic, and integrate with external systems, all through visual modeling and configuration.

Low Code Development Platform Market Drivers

Flexibility and accessibility of cloud-based solutions propel the market growth

The rising adoption of cloud-based technologies has had a significant impact on the global low-code development platform market. Cloud platforms provide a scalable and cost-effective infrastructure for hosting applications, making them an ideal choice for organizations using low-code platforms.

Companies like OutSystems and Mendix offer cloud-based low-code platforms that allow users to build and deploy applications directly on the cloud, eliminating the need for on-premises hardware and reducing operational costs. The flexibility and accessibility of cloud-based solutions have greatly contributed to the growth and adoption of low-code development platforms.

The increasing need for digital transformation has also been a driving force behind the growth of the low-code development platform market. Organizations across industries are leveraging low-code platforms to accelerate their digital transformation initiatives. These platforms empower both professional developers and citizen developers to rapidly build and deploy applications, automating manual processes, integrating systems, and creating customer-centric digital experiences.

For instance, financial institutions are utilizing low-code platforms to digitize and streamline loan application processes, providing customers with faster and more convenient services while reducing paperwork and manual effort. Low-code development platforms have become essential tools for organizations aiming to stay competitive and meet evolving customer demands in the era of digital transformation.

End-User Industry Segmentation of Global Low Code Development Platform Market

Financial Services and Insurance (BFSI) is the largest consumer of low-code development platforms

Based on end-user industry, the largest segment in the low-code development platform market, Financial Services, and Insurance (BFSI) sector. The BFSI industry has been at the forefront of digital transformation, driven by the need for streamlined processes, improved customer experiences, and enhanced operational efficiency.

Low-code development platforms offer the BFSI sector the ability to rapidly build and deploy applications to meet these demands. With the increasing complexity of financial transactions, regulatory compliance requirements, and the need for seamless integration with various systems, low-code platforms provide a flexible and efficient solution. These platforms enable the development of custom applications for tasks such as customer onboarding, loan processing, risk management, and mobile banking.

By empowering both IT teams and business users to create applications through visual modeling and simplified coding, low-code platforms accelerate development cycles and enable the BFSI industry to deliver innovative solutions quickly. The BFSI sector's focus on digital transformation and the need for agile application development has positioned it as the largest consumer of low-code development platforms.

The Healthcare industry has witnessed a significant shift towards digitalization and the adoption of technology-driven solutions to improve patient care, optimize operations, and enhance efficiency. Low-code development platforms offer healthcare organizations the ability to rapidly develop and deploy applications for tasks such as electronic health records (EHR), patient management systems, appointment scheduling, and telehealth platforms.

Other segments in the low-code development platform market include Retail, Manufacturing, Government and Public Sector, IT and Telecom, and Education. Each of these industries leverages low-code platforms to address specific challenges and meet their unique requirements for application development and digital transformation.

Regional Trends of the Global Low Code Development Platform Market

North America is a prominent market for low-code development platforms

Geographically, the global low code development platform market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.

Following are some of the major trends in these regions –

North America: North America is a mature and prominent market for low-code development platforms. The region has a strong presence of major low-code platform vendors and a high adoption rate of digital technologies. The market is driven by factors such as the need for rapid application development, digital transformation initiatives, and a shortage of skilled developers.

North American enterprises, especially in sectors like BFSI, healthcare, and retail, are actively embracing low-code platforms to accelerate their digital initiatives and gain a competitive edge.

Europe: Europe is another significant market for low-code development platforms, characterized by the presence of established vendors and a growing adoption rate. The region's focus on digital transformation, government initiatives promoting innovation, and the need for faster application development contribute to the market growth.

European organizations, including those in finance, manufacturing, and public sectors, are leveraging low-code platforms to streamline operations, enhance customer experiences, and modernize legacy systems.

Asia-Pacific: Asia-Pacific is a rapidly growing market for low-code development platforms, driven by factors such as the region's increasing digitalization efforts, expanding IT infrastructure, and a surge in demand for agile application development.

The market is witnessing significant adoption in countries like China, India, and Australia across various industries, including banking, healthcare, retail, and telecommunications. The region's large population, rising mobile penetration, and growing startup ecosystem further contribute to the market expansion in Asia-Pacific.

Middle East and Africa: The Middle East and Africa region show a rising interest in low-code development platforms. Organizations in sectors like banking, government, and healthcare are increasingly adopting low-code platforms to enhance operational efficiency, deliver better citizen services, and drive digital innovation.

The region's focus on digital transformation, improving IT infrastructure, and government initiatives promoting technological advancements contribute to the growth of the low-code development platform market in the Middle East and Africa.

South America: South America is an emerging market for low-code development platforms, witnessing growing adoption across industries such as banking, retail, and manufacturing.

The region's increasing emphasis on digitalization, rising demand for agile application development, and the need to address complex business processes fuel the market growth. South American organizations are leveraging low-code platforms to overcome resource constraints, reduce time-to-market, and enable faster innovation in the competitive landscape.

Key players and market strategies:

Companies operating in the global low-code development platform market employ various growth strategies to expand their market presence and stay competitive.

Some of the major growth strategies adopted by these companies include:

Product Innovation and Enhancements: Companies continuously invest in research and development to innovate and enhance their low-code development platforms, offering new features, functionalities, and integrations. For example, OutSystems regularly introduces updates to its platform, introducing new capabilities such as AI-assisted development and cloud-native deployment options.

Strategic Partnerships and Collaborations: Companies form strategic partnerships and collaborations to leverage complementary strengths and expand their market reach. For instance, Mendix, a Siemens company, has partnered with major technology companies like IBM, SAP, and Microsoft to offer integrated solutions and tap into their respective customer bases.

Acquisitions and Mergers: Companies acquire or merge with other players in the market to gain access to new technologies, customer bases, or market segments. An example is Appian's acquisition of Novayre Solutions, the developer of Jidoka RPA, to expand its low-code automation capabilities and enter the robotic process automation (RPA) market.

Geographic Expansion: Companies expand their operations and establish a presence in new geographic regions to tap into emerging markets. For instance, Microsoft's Power Apps low-code platform has expanded its availability and data residency options to cater to customers in different regions around the world.

Industry-Specific Solutions: Companies develop industry-specific solutions tailored to the unique requirements and regulatory compliance of specific sectors. For example, Creatio offers low-code solutions specifically designed for industries like financial services, healthcare, and telecommunications.

Customer-centric Approach: Companies focus on providing exceptional customer experiences and support to build long-term relationships. They offer training programs, certifications, and developer communities to empower users and drive adoption. OutSystems, for instance, provides a comprehensive training program and a dedicated community platform for developers to learn and collaborate.

Appian Corporation, Bizagi, Creatio, Google LLC, HCL Technologies Limited, Kony, Inc., Mendix, Microsoft Corporation, Oracle Corporation, OutSystems, Pegasystems Inc., Salesforce.com, Inc., ServiceNow, Inc., Siemens AG, Zoho Corporation and many more.

Global Low Code Development Platform Market Segmentation:

By Deployment Type:

• On-Premises
• Cloud-based

By Organization Size:

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

By Application:

• Web-based
• Mobile-based
• Desktop/Server-based

By End-User Industry:

• Banking, Financial Services, and Insurance (BFSI)
• Healthcare
• Retail
• Manufacturing
• Government and Public Sector
• IT and Telecom
• Education
• Others

By Functionality:

• Database Management
• User Interface (UI) Design
• Business Process Management (BPM)
• Mobile App Development
• Integration and Connectors
• Reporting and Analytics
• Others

By Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  
  • Japan
  • India
  • China
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  •  UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• South America
  • Brazil
  • Rest of South America

1. Introduction
   • Research Objectives
   • Report Assumptions
   • Research Methodology
   • Abbreviations
2. Preface
   • Market Definition
   • Report Scope and Market Segmentation
   • Research Highlights
3. Market Synopsis: Global Low Code Development Platform Market
4. Global Low Code Development Platform Market Qualitative Analysis
   • Trends
     • Market trends
     • Technology Trends
   • PESTLE Analysis (For 3 prominent countries)
   • Market Influencers
     • Driving Forces
     • Hindering Forces
     • Opportunities
   • COVID-19 impact
   • Porter’s Five Forces
5. Global Low Code Development Platform Market Analysis and Forecast, by Deployment Type
   • Overview and definitions
   • Key segment analysis
   • Global Low Code Development Platform Market Size Estimates (US$ Mn), by Deployment Type, 2019 – 2032
     • On-Premises
     • Cloud-based

6. Global Low Code Development Platform Market Analysis and Forecast, by Organization Size
   • Overview and definitions
   • Key segment analysis
   • Global Low Code Development Platform Market Size Estimates (US$ Mn), by Organization Size, 2019 – 2032
     • Small and Medium-sized Enterprises (SMEs)
     • Large Enterprises

7. Global Low Code Development Platform Market Analysis and Forecast, by Application
   • Overview and definitions
   • Key segment analysis
   • Global Low Code Development Platform Market Size Estimates (US$ Mn), by Application, 2019 – 2032
     • Web-based
     • Mobile-based
     • Desktop/Server-based

8. Global Low Code Development Platform Market Analysis and Forecast, by Functionality
   • Overview and definitions
   • Key segment analysis
   • Global Low Code Development Platform Market Size Estimates (US$ Mn), by Functionality, 2019 – 2032
     • Database Management
     • User Interface (UI) Design
     • Business Process Management (BPM)
     • Mobile App Development
     • Integration and Connectors
     • Reporting and Analytics
     • Others

9. Global Low Code Development Platform Market Size Estimates (US$ Mn), by End Use Industry, 2019 – 2032
   • Overview and definitions
   • Key segment analysis
   • Global Low Code Development Platform Market Size Estimates (US$ Mn), by End Use Industry, 2019 – 2032
     • Banking, Financial Services, and Insurance (BFSI)
     • Healthcare
     • Retail
     • Manufacturing
     • Government and Public Sector
     • IT and Telecom
     • Education
     • Others

10. Global Low Code Development Platform Market Analysis and Forecast, by Region
    • Overview and definitions
    • Key segment analysis
    • Global Low Code Development Platform Market Size Estimates (US$ Mn), by Region, 2019 – 2032
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America

11. North America Low Code Development Platform Market Analysis and Forecast
    • Overview and definitions
    • Key segment analysis
    • North America Low Code Development Platform Market Size Estimates (US$ Mn), by Deployment Type, 2019 – 2032
      • On-Premises
      • Cloud-based
    • North America Low Code Development Platform Market Size Estimates (US$ Mn), by Organization Size, 2019 – 2032
      • Small and Medium-sized Enterprises (SMEs)
      • Large Enterprises
    • North America Low Code Development Platform Market Size Estimates (US$ Mn), by Application, 2019 – 2032
      • Web-based
      • Mobile-based
      • Desktop/Server-based
    • North America Low Code Development Platform Market Size Estimates (US$ Mn), by Functionality, 2019 – 2032
      • Database Management
      • User Interface (UI) Design
      • Business Process Management (BPM)
      • Mobile App Development
      • Integration and Connectors
      • Reporting and Analytics
      • Others
    • North America Low Code Development Platform Market Size Estimates (US$ Mn), by End Use Industry, 2019 – 2032
      • Banking, Financial Services, and Insurance (BFSI)
      • Healthcare
      • Retail
      • Manufacturing
      • Government and Public Sector
      • IT and Telecom
      • Education
      • Others
    • North America Low Code Development Platform Market Size Estimates (US$ Mn), Country, 2019 – 2032
      • The U.S.
      • Canada
      • Rest of North America

12. Europe Low Code Development Platform Market Analysis and Forecast
    • Overview and definitions
    • Key segment analysis
    • Europe Low Code Development Platform Market Size Estimates (US$ Mn), by Deployment Type, 2019 – 2032
      • On-Premises
      • Cloud-based
    • Europe Low Code Development Platform Market Size Estimates (US$ Mn), by Organization Size, 2019 – 2032
      • Small and Medium-sized Enterprises (SMEs)
      • Large Enterprises
    • Europe Low Code Development Platform Market Size Estimates (US$ Mn), by Application, 2019 – 2032
      • Web-based
      • Mobile-based
      • Desktop/Server-based
    • Europe Low Code Development Platform Market Size Estimates (US$ Mn), by Functionality, 2019 – 2032
      • Database Management
      • User Interface (UI) Design
      • Business Process Management (BPM)
      • Mobile App Development
      • Integration and Connectors
      • Reporting and Analytics
      • Others
    • Europe Low Code Development Platform Market Size Estimates (US$ Mn), by End Use Industry, 2019 – 2032
      • Banking, Financial Services, and Insurance (BFSI)
      • Healthcare
      • Retail
      • Manufacturing
      • Government and Public Sector
      • IT and Telecom
      • Education
      • Others
    • Europe Low Code Development Platform Market Size Estimates (US$ Mn), Country, 2019 – 2032
      • Germany
      • United Kingdom
      • Italy
      • France
      • Spain
      • Rest of Europe

13. Asia Pacific Low Code Development Platform Market Analysis and Forecast
    • Overview and definitions
    • Key segment analysis
    • Asia Pacific Low Code Development Platform Market Size Estimates (US$ Mn), by Deployment Type, 2019 – 2032
      • On-Premises
      • Cloud-based
    • Asia Pacific Low Code Development Platform Market Size Estimates (US$ Mn), by Organization Size, 2019 – 2032
      • Small and Medium-sized Enterprises (SMEs)
      • Large Enterprises
    • Asia Pacific Low Code Development Platform Market Size Estimates (US$ Mn), by Application, 2019 – 2032
      • Web-based
      • Mobile-based
      • Desktop/Server-based
    • Asia Pacific Low Code Development Platform Market Size Estimates (US$ Mn), by Functionality, 2019 – 2032
      • Database Management
      • User Interface (UI) Design
      • Business Process Management (BPM)
      • Mobile App Development
      • Integration and Connectors
      • Reporting and Analytics
      • Others
    • Asia Pacific Low Code Development Platform Market Size Estimates (US$ Mn), by End Use Industry, 2019 – 2032
      • Banking, Financial Services, and Insurance (BFSI)
      • Healthcare
      • Retail
      • Manufacturing
      • Government and Public Sector
      • IT and Telecom
      • Education
      • Others
    • Asia Pacific Low Code Development Platform Market Size Estimates (US$ Mn), Country, 2019 – 2032
      • Japan
      • India
      • China
      • Australia
      • Rest of Asia Pacific

14. Middle East & Africa Low Code Development Platform Market Analysis and Forecast
    • Overview and definitions
    • Key segment analysis
    • Middle East & Africa Low Code Development Platform Market Size Estimates (US$ Mn), by Deployment Type, 2019 – 2032
      • On-Premises
      • Cloud-based
    • Middle East & Africa Low Code Development Platform Market Size Estimates (US$ Mn), by Organization Size, 2019 – 2032
      • Small and Medium-sized Enterprises (SMEs)
      • Large Enterprises
    • Middle East & Africa Low Code Development Platform Market Size Estimates (US$ Mn), by Application, 2019 – 2032
      • Web-based
      • Mobile-based
      • Desktop/Server-based
    • Middle East & Africa Low Code Development Platform Market Size Estimates (US$ Mn), by Functionality, 2019 – 2032
      • Database Management
      • User Interface (UI) Design
      • Business Process Management (BPM)
      • Mobile App Development
      • Integration and Connectors
      • Reporting and Analytics
      • Others
    • Middle East & Africa Low Code Development Platform Market Size Estimates (US$ Mn), by End Use Industry, 2019 – 2032
      • Banking, Financial Services, and Insurance (BFSI)
      • Healthcare
      • Retail
      • Manufacturing
      • Government and Public Sector
      • IT and Telecom
      • Education
      • Others
    • Middle East & Africa Low Code Development Platform Market Size Estimates (US$ Mn), Country, 2019 – 2032
      • Saudi Arabia
      • South Africa
      • UAE
      • Rest of Middle East

15. South America Low Code Development Platform Market Analysis and Forecast
    • Overview and definitions
    • Key segment analysis
    • South America Low Code Development Platform Market Size Estimates (US$ Mn), by Deployment Type, 2019 – 2032
      • On-Premises
      • Cloud-based
    • South America Low Code Development Platform Market Size Estimates (US$ Mn), by Organization Size, 2019 – 2032
      • Small and Medium-sized Enterprises (SMEs)
      • Large Enterprises
    • South Low Code Development Platform Market Size Estimates (US$ Mn), by Application, 2019 – 2032
      • Web-based
      • Mobile-based
      • Desktop/Server-based
    • South America Low Code Development Platform Market Size Estimates (US$ Mn), by Functionality, 2019 – 2032
      • Database Management
      • User Interface (UI) Design
      • Business Process Management (BPM)
      • Mobile App Development
      • Integration and Connectors
      • Reporting and Analytics
      • Others
    • South America Low Code Development Platform Market Size Estimates (US$ Mn), by End Use Industry, 2019 – 2032
      • Banking, Financial Services, and Insurance (BFSI)
      • Healthcare
      • Retail
      • Manufacturing
      • Government and Public Sector
      • IT and Telecom
      • Education
      • Others
    • South America Low Code Development Platform Market Size Estimates (US$ Mn), Country, 2019 – 2032
      • Brazil
      • Argentina
      • Rest of South America

16. Competition Analysis – Low Code Development Platform Market
    • Market Composition
    • Market Share Analysis (%), by Supplier (2022)
    • Company Profiles
      • Appian Corporation
        • Business overview
        • Geographic presence
        • Financial facts
        • Relevant news and strategic view
      • Bizagi
      • Creatio
      • Google LLC
      • HCL Technologies Limited
      • Kony, Inc.
      • Mendix
      • Microsoft Corporation
      • Oracle Corporation
      • OutSystems
      • Pegasystems Inc.
      • com, Inc.
      • ServiceNow, Inc.
      • Siemens AG
      • Zoho Corporation

17. Conclusion & Recommendations