Market Overview:
The global low-code development component market is expected to grow at a CAGR of 27.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for low-code development platforms and services across various industries, such as BFSI, retail and eCommerce, government and defense, healthcare, IT, energy and utilities, manufacturing, and others. Low-code development platforms allow businesses to develop applications without any coding knowledge or experience. This helps reduce the time taken for application development by up to 50%. Additionally, these platforms provide a user-friendly interface that makes it easy for business users without any coding experience to develop custom applications.
Product Definition:
Low-code development components are designed to help simplify the process of creating and deploying custom applications. They can provide a more user-friendly interface for non-technical users, as well as automate common tasks that would otherwise need to be completed by hand. Low-code development components can also play an important role in accelerating the deployment of new applications and speeding up the time to market for businesses.
Platform:
Platform is a collection of tools and technologies that help in reducing the time & cost required to develop an application. The applications developed using low-code development are more user-friendly as they rely on visual tools for code generation, testing, and deployment. Low code or low-code development is a subset of the general software development process wherein less coding is done manually; instead, automated processes are used to produce codes.
Services:
Low-code development is a software development process in which the developers write code without using any high-level language. The source code is usually written in a simple programming language such as Java, C, and C++. Low-code services are used by low code developers to develop applications for various end users such as banking financial services and insurance (BFSI), retail companies, government agencies, healthcare providers & life science companies among others.
Application Insights:
The software as a service (SAAS) segment dominated the global low-code development component market in 2017. The major reason for this is that it offers various advantages such as flexibility, efficiency, and ease of use. Moreover, companies are investing more in order to improve their services and offerings. For instance, Atlassian Corporation provides its customers with an enterprise edition of JIRA Software which includes features such as issue tracking, project management tools, source control management tools among others at a discounted price of USD 4 per user per month. This allows small and medium-sized businesses (SMBs) to get access to these advanced solutions at an economical price without having any technical knowledge or experience required while using them for developing applications on web or mobile platforms.
Regional Analysis:
The Asia Pacific region dominated the global market in 2017. This can be attributed to the increasing adoption of low-code development components by small and medium enterprises (SMEs) in developing countries such as India, China, and Bangladesh. The growing popularity of cloud computing is also expected to drive demand for LDD components over the forecast period. Moreover, a significant increase in government initiatives aimed at promoting digitalization across various sectors is anticipated to fuel regional growth during the forecast period.
North America accounted for a major share owing to factors such as increased focus on reducing IT costs and implementation of automated systems within several departments including accounting, human resources, sales & marketing among others. Furthermore, an increase in spending capacity within organizations coupled with high demand from end users for self-service tools that enable them work independently from IT department is further expected to drive regional growth over the next eight years (2030).
Europe was estimated at USD X billion in 2017.
Growth Factors:
- Increased demand for faster application development and deployment: Low-code development platforms enable developers to build and deploy applications faster than traditional coding methods. This is due to the fact that low-code platforms allow developers to visually create applications using pre-built components, without having to write code from scratch. As a result, businesses are able to reduce the time it takes to develop and deploy new applications, which can help them stay competitive in today’s fast-paced business environment.
- Growing popularity of mobile apps: The popularity of mobile apps is driving demand for low-code development platforms as businesses seek ways to quickly develop and deploy mobile apps that meet the needs of their customers. Low-code development platforms make it easy for developers to create cross-platform mobile apps using a single codebase, which can save time and money compared with developing separate versions of an app for different devices or operating systems.
- Increasing need for agility and flexibility: In order to keep up with changing customer demands and business requirements, organizations are increasingly looking for ways to become more agile and flexible in their operations. Low-code development platforms can help businesses achieve this by allowing them rapid prototyping capabilities as well as the ability customize existing applications without having recourse code changes or redeployment cycles – all without sacrificing quality or performance .
Scope Of The Report
Report Attributes
Report Details
Report Title
Low-Code Development Component Market Research Report
By Type
Platform, Services
By Application
BFSI, Retail and eCommerce, Government and Defense, Healthcare, IT, Energy and Utilities, Manufacturing, Others
By Companies
Salesforce, Microsoft, Appian, Oracle, Pegasystems, Magic Software Enterprises, AgilePoint, OutSystems, Zoho
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
137
Number of Tables & Figures
96
Customization Available
Yes, the report can be customized as per your need.
Global Low-Code Development Component Market Report Segments:
The global Low-Code Development Component market is segmented on the basis of:
Types
Platform, Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Retail and eCommerce, Government and Defense, Healthcare, IT, Energy and Utilities, Manufacturing, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Salesforce
- Microsoft
- Appian
- Oracle
- Pegasystems
- Magic Software Enterprises
- AgilePoint
- OutSystems
- Zoho
Highlights of The Low-Code Development Component Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Platform
- Services
- By Application:
- BFSI
- Retail and eCommerce
- Government and Defense
- Healthcare
- IT
- Energy and Utilities
- Manufacturing
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Low-Code Development Component Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Low-code development component is a software development process that uses low-level programming languages and tools to create software.
Some of the key players operating in the low-code development component market are Salesforce, Microsoft, Appian, Oracle, Pegasystems, Magic Software Enterprises, AgilePoint, OutSystems, Zoho.
The low-code development component market is expected to register a CAGR of 27.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Low-Code Development Component Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Low-Code Development Component Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Low-Code Development Component Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Low-Code Development Component Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Low-Code Development Component Market Size & Forecast, 2018-2028
4.5.1 Low-Code Development Component Market Size and Y-o-Y Growth
4.5.2 Low-Code Development Component Market Absolute $ Opportunity
Chapter 5 Global Low-Code Development Component Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Low-Code Development Component Market Size Forecast by Type
5.2.1 Platform
5.2.2 Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Low-Code Development Component Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Low-Code Development Component Market Size Forecast by Applications
6.2.1 BFSI
6.2.2 Retail and eCommerce
6.2.3 Government and Defense
6.2.4 Healthcare
6.2.5 IT
6.2.6 Energy and Utilities
6.2.7 Manufacturing
6.2.8 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Low-Code Development Component Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Low-Code Development Component Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Low-Code Development Component Analysis and Forecast
9.1 Introduction
9.2 North America Low-Code Development Component Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Low-Code Development Component Market Size Forecast by Type
9.6.1 Platform
9.6.2 Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Low-Code Development Component Market Size Forecast by Applications
9.10.1 BFSI
9.10.2 Retail and eCommerce
9.10.3 Government and Defense
9.10.4 Healthcare
9.10.5 IT
9.10.6 Energy and Utilities
9.10.7 Manufacturing
9.10.8 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Low-Code Development Component Analysis and Forecast
10.1 Introduction
10.2 Europe Low-Code Development Component Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Low-Code Development Component Market Size Forecast by Type
10.6.1 Platform
10.6.2 Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Low-Code Development Component Market Size Forecast by Applications
10.10.1 BFSI
10.10.2 Retail and eCommerce
10.10.3 Government and Defense
10.10.4 Healthcare
10.10.5 IT
10.10.6 Energy and Utilities
10.10.7 Manufacturing
10.10.8 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Low-Code Development Component Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Low-Code Development Component Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Low-Code Development Component Market Size Forecast by Type
11.6.1 Platform
11.6.2 Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Low-Code Development Component Market Size Forecast by Applications
11.10.1 BFSI
11.10.2 Retail and eCommerce
11.10.3 Government and Defense
11.10.4 Healthcare
11.10.5 IT
11.10.6 Energy and Utilities
11.10.7 Manufacturing
11.10.8 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Low-Code Development Component Analysis and Forecast
12.1 Introduction
12.2 Latin America Low-Code Development Component Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Low-Code Development Component Market Size Forecast by Type
12.6.1 Platform
12.6.2 Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Low-Code Development Component Market Size Forecast by Applications
12.10.1 BFSI
12.10.2 Retail and eCommerce
12.10.3 Government and Defense
12.10.4 Healthcare
12.10.5 IT
12.10.6 Energy and Utilities
12.10.7 Manufacturing
12.10.8 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Low-Code Development Component Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Low-Code Development Component Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Low-Code Development Component Market Size Forecast by Type
13.6.1 Platform
13.6.2 Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Low-Code Development Component Market Size Forecast by Applications
13.10.1 BFSI
13.10.2 Retail and eCommerce
13.10.3 Government and Defense
13.10.4 Healthcare
13.10.5 IT
13.10.6 Energy and Utilities
13.10.7 Manufacturing
13.10.8 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Low-Code Development Component Market: Competitive Dashboard
14.2 Global Low-Code Development Component Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Salesforce
14.3.2 Microsoft
14.3.3 Appian
14.3.4 Oracle
14.3.5 Pegasystems
14.3.6 Magic Software Enterprises
14.3.7 AgilePoint
14.3.8 OutSystems
14.3.9 Zoho
