San Francisco, 27 February 2030: The Report Low-Code Application Development Platform Market Size, Share & Trends Analysis Report By Component (Platform, Services), By Application, By Deployment, By Organization Size, By Region, And Segment Forecasts, 2024 - 2030

The global low-code application development platform market size is anticipated to reach USD 101.68 billion by 2030, registering a CAGR of 22.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The process of digital transformation requires several new approaches and technologies. Thus, low-code application development platforms play a key role by minimizing the time and cost required in conventional software development processes. These platforms help enterprise employees engage in the development process, irrespective of their technical expertise, which enables them to accelerate business value.

Al is gaining traction in various end-use industries, such as manufacturing, healthcare, and retail. Software applications can be developed for end users with an AI-based low-code application platform. Various businesses invest in this platform owing to its multiple applications and possible advantages. For instance, in June 2023, Appian, low-code application development platform provider, announced that BAI Communications Australia (BAI), a company that designs, builds, and operates communications infrastructure, is using Appian’s AI-powered process platform to digitize and optimize Site Access Management. This development is aimed at helping BAI ensure a broader shift in business processes, optimize operations and maximize ROI with a higher level of automation.

Scalability in low-code application development platforms ensures that the applications built on these platforms can easily adapt to the changing needs of businesses. These platforms allow multiple developers to build different use cases across teams and geographies to provide interconnected application portfolios. Moreover, the out-of-the-box characteristic of low-code development platforms delivers reusability, enabling repeated usage of pre-configured components, modules, and functionalities. These characteristics provide certain common core functions required for various applications and are reused to build other solutions, which significantly accelerates the software development process. It is essential for low-code development platform users to reuse newly built or pre-built modules, plug-ins, and entire applications to build necessary applications faster. Thus, the aforementioned factors collectively drive the growth of the market.

Low-code development platforms are significantly transforming the software development processes compared to conventional development methods. Low-code application development platform facilitates software development with minimal effort, cost, and time, which increases their adoption for creating business processes and workflows. The versatile nature of low-code application development platforms makes software development scalable, agile, and user-friendly. Thus, driving the growth of the market.

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The adoption of low-code and no-code development platforms can address the challenge of software development talent shortages as they allow businesses to build systems without hiring large teams of developers. For instance, in October 2023, Kissflow Inc., a SaaS-based company, reported that, low-code platforms help reduce application development time by 90%. Moreover, by 2024, 80% of non-IT professionals are expected to develop IT products and services, with over 65% of the professionals using low-code/no-code tools. Therefore, it’s expected that adoption of low-code application development platforms is expected to grow in the forecasted period.

Low-Code Application Development Platform Market Report Highlights

• Based on component, the services segment is anticipated to register the highest CAGR from 2024 to 2030. End-users are implementing low-code application development platform services to build custom, enterprise-grade software faster and more efficiently. Thus, driving the growth of the segment
• Based on application, the mobile segment is expected to grow at a significant CAGR in the forecast period. The rising popularity of Bring Your Own Device (BYOD) trend, and the growing use of mobile applications for a variety of tasks are driving the growth of the mobile-based application segment in the market. Moreover, users can create mobile applications that easily scale to hundreds of millions of users with the help of a low-code mobile application development platform
• Based on deployment, the cloud segment is anticipated to register a notable CAGR from 2024 to 2030. Cloud-based low-code application development platforms also offer benefits such as accelerated platform development, increased scalability, and remote services. Moreover, cloud computing is also used by businesses to streamline business administration processes. Thus, driving the growth of the segment
• The Asia Pacific region is expected to grow at the highest CAGR in the forecast period. The growth of the Asia Pacific low-code application development platform industry can be attributed to the significant penetration by global market players, supportive government initiatives for software industries, and the shift in end-user companies' focus toward optimizing their application development costs

By using AI-powered low-code application development platforms, businesses can optimize their workflows and maximize return on investment (ROI) by automating operational tasks. For instance, in June 2023, Appian Corporation, an enterprise software provider, announced that BAI Communications Australia (BAI); a company that designs, builds, and operates communications infrastructure; selected Appian Corporation’s AI-powered process platform to digitize and optimize site access management. This initiative helped BAI ensure a broader shift in business processes, optimize operations and maximize ROI with enhanced automation. An AI-based low-code application development platform expedites the processing of site access requests and grants 100% access to eligible applicants. The volume of requests made to the company's network operations center has decreased noticeably. In addition, BAI can now verify that all site visitors understand safety and security protocols owing to the prequalification application, which also offers important metrics and records for businesses’ reporting needs.

Low-code application development platforms provide various key features that are functional in enhancing the software development process. For instance, drag-and-drop is one of the vital features of low-code application development platforms that simplify the development process. It allows users to develop applications with just a click without hand-coding. Moreover, the built-in components in low-code application development platforms make the overall development process comprehensible to users, regardless of their technical knowledge. The visual modeling features empower business users by providing developer abilities, thereby speeding up the process of building software applications. Other features of the low-code application development platform include cross-platform functionality, reusability, and scalability, which collectively drive the growth of the market.