A low code development platform provides an environment which is used by programmers to create application software using GUI and configuration instead of traditional programming. The ongoing trend for digitization across the IT industry is creating lucrative business opportunities for the companies operating in the low code development platform market to gain a strong customer base and generate more revenues. The low code development platform market is highly competitive with the increasing number of new entrants penetrating the market rapidly and create challenges for the existing players.
Low-Code Development Platform Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Component (Solution, Services); Deployment (On-Premise, Cloud); Application Type (Web-based, Mobile); Organization Size (SMEs, Large Enterprise); Industry Vertical (BFSI, Government, Healthcare, Education, Retail, Media and Entertainment, IT and Telecom, Others) and Geography
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MARKET DYNAMICS
Drivers:
The increasing demand for web and mobile applications by organizations for business processes, increasing number of APIs being offered by the vendors, and penetrating of smartphones across various industries are the major factors that are expected to drive the growth of the low code development platform market.
The increasing popularity of software automation and innovative applications is creating an opportunity for companies operating in the low code development platform market to gain a strong market position and generate more revenues.
Restraints:
High cost may hinder the growth of the low-code development platform market.
MARKET SEGMENTATION
Based on component, the global low-code development platform market is segmented into solution and services.
On the basis of deployment, the market is segmented into on-premise and cloud.
Based on application type , the market is segmented into web-based and mobile.
Based on organization size, the market is segmented into SMEs and large enterprise.
Based on industry vertical he market is segmented into BFSI, government, healthcare, education, retail, media and entertainment, IT and telecom, and others.
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REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The low-code development platform market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the low-code development platform market in these regions.
MARKET SCOPE
The “Global Low-Code Development Platform Market Analysis to 2028” is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the low-code development platform market with detailed market segmentation by component, deployment, application type, organization size, industry vertical, and geography. The report provides key statistics on the market status of the leading low-code development platform market players and offers key trends and opportunities in the market.
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