Low-code development technologies enable professionals to develop and scale enterprise and customer-facing applications without having to depend upon overstretched IT teams. Due to their ease of use and flexibility, low-code technologies, such as RPA and rapid mobile app development (RMAD) tools, are expected to generate over $13 billion in revenue this year.
During the pandemic, low code gained popularity because of the benefits it offers to IT teams in building and deploying applications using drag-and-drop workflows, reducing expenses on the purchase of enterprise software solutions, and automating tasks and processes, streamlining DevOps processes, and replacing complex coding with visual design. Â
According to Gartner, the global market for low-code development tech will touch $13.8 billionOpens a new window this year, up almost a quarter (23.2 percent) compared to last year. 41% of employees outside IT either customize or build data solutions, and half of all new low-code clients will come from business buyers outside IT before the end of 2025.
“While low-code application development is not new, a confluence of digital disruptions, hyper automation and the rise of composable business has led to an influx of tools and rising demand,†said Fabrizio Biscotti, VP of Research at Gartner.
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The need to accelerate digital transformation arises due to the high maintenance cost of legacy systems which hinders efficiency and innovation. Delivery of customer-centric solutions through low-skilled software professionals also contributes to ever-growing backlogs. Low-code technology is what stands between make or break scenarios for many companies in the technology industry.
Leading public cloud platform providers like Google, Microsoft, and Amazon have already developed strategies for rolling out visualization tools and automation capabilities. For instance, Google acquired no-code provider AppSheet last year, and Amazon announced its very own low-code tool, Honeycode that comes with many AWS services. Recently, German software giant SAP acquired AppGyver, a no-code platform to boost business process intelligence solutions.
With a model-driven visual approach, prominent low-code providers have disrupted the application platform marketplace and helped businesses and IT shareholders to work together to speed up application development. In order to build interactive apps, enterprises are implementing process automation technologies, highly productive design tools, and AI-injected connectors .
With major SaaS players incorporating low-code development technologies in their selection of services, low-code vendors are looking at increased funding, acquisitions, and profitability in the near future.
Image Source: Gartner
According to Gartner, low-code development technologies include Low-Code Application Platforms (LCAP), Intelligent Business Process Management Suites, Multi Experience Development Platforms (MDXP), Robotic Process Automation (RPA), Citizen Automation and Development Platform (CADP), rapid mobile app development (RMAD) tools and rapid application development (RAD) tools, all of which are poised to see impressive adoption this year.
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For instance, worldwide revenue of LCAP tools is forecasted to surge from $4.44 million in 2020 to $5.75 million this year, the revenue of Intelligent Business Process Management Suites is expected to rise from $2.69 million in 2020 to $28.91 million this year, and the revenue of RPA will increase from $1.68 million in 2020 to $2.18 million this year. The overall low-code development technologies market will grow from $11.27 million last year to $13.82 million this year.
“The economic consequences of the COVID-19 pandemic have validated the low-code value proposition. Low-code capabilities that support remote work function, such as digital forms and workflow automation, will be offered with more elastic pricing since they will be required to keep the lights running.
“Globally, most large organizations will have adopted multiple low-code tools in some form by year-end 2021. In the longer term, as companies embrace the tenets of a composable enterprise, they will turn to low-code technologies that support application innovation and integration,†Biscotti added.
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