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Low-Code Application Development Platform Market Trends

Report ID: GMI8167
Published Date: Feb 2024
Report Format: PDF

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Low-Code Application Development Platform Market Trends

The low-code application development platform industry is witnessing significant technological advancement. The use of Artificial Intelligence (AI) capabilities, such as intelligent code completion, context-aware recommendations, and automated testing makes application development easier for both professional and citizen developers. Natural Language Processing (NLP) offers natural language interfaces for engaging with platforms, making development more straightforward and accessible to people with a limited technical understanding. The inclusion of technologies, such as automatic security scans, data encryption, and access control methods, in the platform helps assure application security from the start.

For instance, in December 2023, Appian unveiled its Low-Code Security Studio, a suite of tools for building secure applications within the platform. This includes role-based access control, data encryption, and security testing functionalities, addressing growing concerns about security in low-code development.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of low-code application development platform reached USD 10.5 billion in revenue in 2023 and is set to witness 21% CAGR from 2024 to 2032, owing to increasing investments in low-code mobile app development platforms worldwide.

The large enterprises segment held over 65% revenue share in 2023, due to having greater IT budgets and many workers, allowing them to invest in low-code platforms.

North America recorded over 30% of the market share in 2023, attributed to fast-paced corporate climate in the region.

Appian Corporation, Mendix, Microsoft Corporation, Oracle Corporation, Outsystems, Pegasystems, Inc., Quickbase, Inc., and Salesforce Inc. are some of the major low-code application development platform companies worldwide.