Low Code Development Platform Market to Record a CAGR of 27.96%, Find Future Trends, Analysis, and Insights – Technavio

Surge in digital transformation in the IT industry will be one of the key trends in the

low code development platform market during 2022-2026

NEW YORK, Aug. 4, 2022 /PRNewswire/ — The low code development platform market is a part of the global systems software market. Apart from the market in focus, Technavio’s market analysis reports also provide in-depth coverage of the external factors influencing the parent market growth potential in the coming years.

In this report, Technavio defines 2021 as the base year and 2022-2026 as the forecast period. The size of the global low code development platform market is anticipated to grow by USD 35.73 billion from 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a CAGR of 27.96% during the forecast period. Our report describes in detail the various factors that are responsible for the market growth and the growth momentum.

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What are the Some of the Topics Covered in this Report?

• Overview of the Market
• Market Sizing
• Five Forces Analysis
• Market Segmentation
• Factors Impacting Market Growth
• Vendor Analysis

What are the Various Segments Covered in this Report?

What are the Factors Driving the Growth of the Low Code Development Platform Market?

The growth of the low code development platform market will be driven by the pricing strategies of vendors. Vendors are re-evaluating software pricing and delivery models owing to the high price of software and constrained IT budgets. They have to consider various customer pricing preferences and budgets. Vendors also provide SaaS, commercial open-source models, and term licensing to be in sync with changing demands.

What are the Trends Supporting the Growth of the Low Code Development Platform Market?

Surge in digital transformation in the IT industry is a key trend that will support the growth of the low code development platform market. Many industries, including IT solutions, telecommunication network infrastructure, healthcare, banking and finance, retail, and utilities are investing in low code development platforms. Moreover, governments are collaborating with market participants to accelerate the deployment of 5G technology. Thus, digital transformation is anticipated to be a highly valued edge computing service across end-user industries.

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Which are the Major Vendors Operating in the Low Code Development Platform Market?

According to Technavio, the major vendors operating in the low code development platform market include AgilePoint Inc., Appian Corp., Aura Difusion SL, Betty Blocks BV, CREATIO EMEA Ltd., Cybozu Inc., Fujitsu Ltd., Idera Inc., Magic Software Enterprises Ltd., Mendix Technology BV, Microsoft Corp., Netcall plc, Newgen Software Technologies Ltd., Nintex Global Ltd., Oracle Corp., OutSystems Software em Rede SA, Pegasystems Inc., Pramati Software Pvt. Ltd., Quickbase Inc., Salesforce.com Inc., ServiceNow Inc., Skuid Inc., Thinkwise Innovation B.V., TrackVia Inc., Tyler Technologies Inc., and Zoho Corp. Pvt. Ltd. among others.

Is the Market Fragmented or Concentrated?

The low code development platform market is fragmented, and the vendors are deploying growth strategies such as technological advancements to compete in the market. Technological advances in the market are bringing significant competitive advantages. Therefore, new players are expanding their market presence in the global low code development platform market.

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis – Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments
• Exhibit 24: Chart on Product – Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product – Market share 2021-2026 (%)

• 5.2 Comparison by Product
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 Platform – Market size and forecast 2021-2026
• Exhibit 28: Chart on Platform – Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Platform – Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Platform – Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Platform – Year-over-year growth 2021-2026 (%)

• 5.4 Services – Market size and forecast 2021-2026
• Exhibit 32: Chart on Services – Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Services – Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Services – Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Services – Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Product
• Exhibit 36: Market opportunity by Product ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 North America – Market size and forecast 2021-2026
• Exhibit 42: Chart on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on North America – Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on North America – Year-over-year growth 2021-2026 (%)

• 7.4 APAC – Market size and forecast 2021-2026
• Exhibit 46: Chart on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on APAC – Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on APAC – Year-over-year growth 2021-2026 (%)

• 7.5 Europe – Market size and forecast 2021-2026
• Exhibit 50: Chart on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Europe – Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Europe – Year-over-year growth 2021-2026 (%)

• 7.6 South America – Market size and forecast 2021-2026
• Exhibit 54: Chart on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on South America – Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on South America – Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa – Market size and forecast 2021-2026
• Exhibit 58: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)

• 7.8 US – Market size and forecast 2021-2026
• Exhibit 62: Chart on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on US – Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US – Year-over-year growth 2021-2026 (%)

• 7.9 China – Market size and forecast 2021-2026
• Exhibit 66: Chart on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China – Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China – Year-over-year growth 2021-2026 (%)

• 7.10 Japan – Market size and forecast 2021-2026
• Exhibit 70: Chart on Japan – Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on Japan – Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on Japan – Year-over-year growth 2021-2026 (%)

• 7.11 UK – Market size and forecast 2021-2026
• Exhibit 74: Chart on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on UK – Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on UK – Year-over-year growth 2021-2026 (%)

• 7.12 Germany – Market size and forecast 2021-2026
• Exhibit 78: Chart on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Germany – Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Germany – Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography
• Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 88: Matrix on vendor position and classification

• 10.3 Appian Corp.
• Exhibit 89: Appian Corp. – Overview
• Exhibit 90: Appian Corp. – Product / Service
• Exhibit 91: Appian Corp. – Key news
• Exhibit 92: Appian Corp. – Key offerings

• 10.4 Betty Blocks BV
• Exhibit 93: Betty Blocks BV – Overview
• Exhibit 94: Betty Blocks BV – Product / Service
• Exhibit 95: Betty Blocks BV – Key offerings

• 10.5 Mendix Technology BV
• Exhibit 96: Mendix Technology BV – Overview
• Exhibit 97: Mendix Technology BV – Product / Service
• Exhibit 98: Mendix Technology BV – Key offerings

• 10.6 Microsoft Corp.
• Exhibit 99: Microsoft Corp. – Overview
• Exhibit 100: Microsoft Corp. – Business segments
• Exhibit 101: Microsoft Corp. – Key news
• Exhibit 102: Microsoft Corp. – Key offerings
• Exhibit 103: Microsoft Corp. – Segment focus

• 10.7 Oracle Corp.
• Exhibit 104: Oracle Corp. – Overview
• Exhibit 105: Oracle Corp. – Business segments
• Exhibit 106: Oracle Corp. – Key news
• Exhibit 107: Oracle Corp. – Key offerings
• Exhibit 108: Oracle Corp. – Segment focus

• 10.8 OutSystems Software em Rede SA
• Exhibit 109: OutSystems Software em Rede SA – Overview
• Exhibit 110: OutSystems Software em Rede SA – Product / Service
• Exhibit 111: OutSystems Software em Rede SA – Key offerings

• 10.9 Pegasystems Inc.
• Exhibit 112: Pegasystems Inc. – Overview
• Exhibit 113: Pegasystems Inc. – Product / Service
• Exhibit 114: Pegasystems Inc. – Key news
• Exhibit 115: Pegasystems Inc. – Key offerings

• 10.10 Salesforce.com Inc.
• Exhibit 116: Salesforce.com Inc. – Overview
• Exhibit 117: Salesforce.com Inc. – Product / Service
• Exhibit 118: Salesforce.com Inc. – Key news
• Exhibit 119: Salesforce.com Inc. – Key offerings

• 10.11 ServiceNow Inc.
• Exhibit 120: ServiceNow Inc. – Overview
• Exhibit 121: ServiceNow Inc. – Business segments
• Exhibit 122: ServiceNow Inc. – Key news
• Exhibit 123: ServiceNow Inc. – Key offerings
• Exhibit 124: ServiceNow Inc. – Segment focus

• 10.12 Zoho Corp. Pvt. Ltd.
• Exhibit 125: Zoho Corp. Pvt. Ltd. – Overview
• Exhibit 126: Zoho Corp. Pvt. Ltd. – Product / Service
• Exhibit 127: Zoho Corp. Pvt. Ltd. – Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 128: Inclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 129: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 130: Research methodology
• Exhibit 131: Validation techniques employed for market sizing
• Exhibit 132: Information sources

• 11.5 List of abbreviations
• Exhibit 133: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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