The Global Low-Code Development Platform Market is likely to ascend at a CAGR of 29.8 % over the forecast period (2021-2027) according to QuantAlign Research. The growth of the low-code development platform market is primarily attributed to the rapid digitization across various industries.  Moreover, the benefits such as user friendly interfaceand  reusable components provided by low-code development platforms is also providing impetus to the LCDP market.

During the forecast period, demand for the low-code development platform will also increase as these platforms also help reduce burden on the IT departments, and allow non IT professionals with knowledge of business workflow to create applications. For small enterprises, these low-code solutions are becoming essential as they allow these businesses to test ideas before investing money on developers.

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Global Low-Code Development Platform Market Demand Outlook, COVID-19 Impact, Trend Analysis by Component (Solution, Service), by Deployment Model (Cloud Based, On Premise), by Organization Type, by End-Use and Industry Estimates 2021-2027 –  “https://quantalignresearch.com/global-low-code-development-platform-market-report “

Key insights: 

• On the basis of deployment type, the cloud-based deployment segment held the larger share of the global low-code development platform market and is expected to witness higher CAGR over the forecast period
• The IT segment held the largest share of the low-code development platform market due to high adoption rate
• North America is currently the largest market for low-code development platform due to the presence of key market players in the region

Key players operating in the market include: Salesforce.com Inc., Appian Corporation, Pegasystems Inc.., Oracle Corporation, AgilePoint Inc. MICROSOFT, OUTSYSTEMS, MENDIX, ZOHO, QuickBase Inc., Magic Software., LANSA ., ServiceNow Inc., Kony Inc. among others.