The global low code development platform market was valued at US$ 1,647.0 Mn in 2015 and is anticipated to increase at a CAGR of 54.5% from 2017 to 2025. A low-code development platform bundles all components together into a single intelligible set of tools that enables to create applications visually. In addition, the growing requirement for software automation and innovative applications for business procedures forced software developers to build custom applications in volume. Low code development platform have the capability to build and deploy applications seamlessly with a minimum of hand-coding, minimal upfront investment in setup, training, and deployment. Furthermore, low code development platforms offer an exceptional communication mechanism to support business and IT stakeholders, thus ensuring better software quality and more effective business results. Moreover, the market for app development has outgrown the information and communication technologies market in the past few years, and its growth is estimated to accelerate in the future.
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Application development and delivery (AD&D) leaders are more focused on adopting these platforms as an important tool for creating noncritical applications utilizing nontraditional developer talent. AD&D professionals are gaining confidence that low-code development platforms can support rapid delivery of even more complex, large, and trustworthy customer solutions. Therefore, increasing investment in development platforms across the globe is expected to drive the growth of the low code development platform market. Apart from this, Low-code platforms are expected to make life easier for many small and medium businesses, especially considering the cost of bringing on new and more developers. Consequently, this is impelling the demand for the low code development platform among end-users.
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