What is Enterprise Low-Code Application Platforms?
A low-code development platform uses visual interfaces with simple logic and drag-and-drop features instead of extensive coding languages. These intuitive tools allow users with no formal knowledge of coding or software development to create applications for many purposes like mobile apps and business apps. According to the sources, the visual development approach will account for fully 65 percent of enterprise application development as non-coders collaborate with DevOps to deploy applications. Among the leading suppliers of low-code development platforms, Salesforce, Microsoft, and Boston-based OutSystems, which has so far raised more than USD 422 million in private equity funding. Also, Digital business acceleration is putting pressure on IT leaders to dramatically increase application delivery speed and Time to Value. This will act as the driver of the global market.
The market study is broken down and major geographies with country level break-up. According to AMA, the Global Enterprise Low-Code Application Platforms market is expected to see growth rate of 29.56% and may see market size of USD5313.0 Million by 2026.
The market seems to consolidate in nature. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are Salesforce, Microsoft, OutSystem, Mendix (Siemens) and Appian. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Enterprise Low-Code Application Platforms market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Microsoft (United States), Salesforce (United States), Appian (United States), Oracle (United States), Zoho (India), Quick Base (United States), Pegasystems (United States), Magic Software Enterprises (United States), AgilePoint (United States) and OutSystems (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are WaveMaker (United States), K2 (United States), LANSA (United States), Fujitsu RunMyProcess (France), Netcall (United Kingdom) and Siemens.
AdvanceMarketAnalytics has segmented the market of Global Enterprise Low-Code Application Platforms market by Type, Application and Region.
On the basis of geography, the market of Enterprise Low-Code Application Platforms has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Organization Size, the sub-segment i.e. Small and Medium-Sized Enterprises (SMEs) will boost the Enterprise Low-Code Application Platforms market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. Web-based will boost the Enterprise Low-Code Application Platforms market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. BFSI will boost the Enterprise Low-Code Application Platforms market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Platform will boost the Enterprise Low-Code Application Platforms market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 11th May 2021, Appian unveiled the latest version of the Appian Low-code Automation Platform. The new release expands the boundaries of the low-code industry with the introduction of low-code data, a new code-free approach to unifying enterprise data. The latest version of Appian also features enhanced AI-driven Intelligent Document Processing (IDP), new design guidance and developer collaboration features, and enhanced DevSecOps capabilities.
On June 23, 2021, TrailheaDX Salesforce is introducing the next generation of Salesforce Platform including a powerful set of low-code development tools that empower everyone within an organization, regardless of technical skill or role, to create and ship apps on a single platform.
- The surge in remote development during the COVID-19 pandemic will continue to boost low-code adoption, despite ongoing cost optimization efforts
- Upsurging demand for rapid customization and scalability
- The high demand due to as a general social and technological movement
- High adoption due to rising digital transformation in the IT industry
- Increasing demand for robust solutions to maximize the visibility as well as control over processes
- The concern regarding Dependency on vendor-supplied customization
- The increasing concern related to legacy software needs to be upgraded
Key Target AudienceGovernment Regulatory Bodies, Private Research Organizations, Government Research Organization and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Microsoft (United States), Salesforce (United States), Appian (United States), Oracle (United States), Zoho (India), Quick Base (United States), Pegasystems (United States), Magic Software Enterprises (United States), AgilePoint (United States) and OutSystems (United States) etc.
2. Can we have customized study for Enterprise Low-Code Application Platforms Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Enterprise Low-Code Application Platforms Market by 2026?
Analysts at AMA estimates Enterprise Low-Code Application Platforms Market to reach USD5313.0 Million by 2026.