Low code development platform market size analysis

Mondo Finance Updated on 2024-02-21

In recent years, the market for low-quality development platforms has developed rapidly and has become an important tool and technology for digital transformation. With its fast and flexible development methods, the low-quality development platform has greatly improved the development efficiency and product delivery speed of enterprises. This article will analyze the market size of the low-level development platform, its market prospect and development trend.

1.Overview of the market size.

With the acceleration of digital transformation, enterprises have an increasing demand for customized application software and business processes. In the traditional software development process, complicated coding work and long development cycles have become the limiting factors. The advent of low** development platforms fills this gap in the market and provides a solution for building applications quickly. According to market research institutes, the global low-** development platform market reached $5 billion in 2019 and is expected to grow to about $17 billion by 2024.

2.Market drivers.

The growth of the low** development platform market size is inseparable from the following driving factors:

2.1 The rise of digital transformation. As people become more digitally reliant on the market, companies need to quickly launch applications that meet the needs of the market. The low-quality development platform meets the needs of enterprises for rapid iteration and innovation by simplifying the development process and improving the speed of application software launch.

2.2 IT talent shortage. Traditional software development requires skilled coding skills and long-term training, while the low-quality development platform lowers the development threshold through visual drag-and-drop operations, reduces the dependence on high-tech talents, and alleviates the shortage of IT talents.

2.3. Requirements for cost control. In the process of digital transformation, enterprises often need to invest a lot of money to develop software and customize business processes. The low-** development platform provides a more cost-effective solution and reduces development and maintenance costs.

3.Market outlook and development trends.

In the next few years, the low-quality development platform market is expected to continue to maintain rapid growth, showing the following trends:

3.1 The increase in industry applications. The low-quality development platform is widely used in finance, manufacturing, medical, retail and other industries. With the increasing demand for digital transformation in various industries, low-quality development platforms will play an important role in customized development and business process transformation in different industries.

3.2 Convergence of cloud platforms. The combination of low-quality development platforms and cloud computing will become the trend of the future. The cloud platform provides more powerful computing and storage capabilities, accelerates the deployment and expansion of low-quality development platforms, and improves development efficiency and application performance.

3.3 Application of AI and automation. With the development of artificial intelligence and automation technology, the low-** development platform will be more intelligent. By introducing AI and automation functions, the low-level platform can provide more intelligent development assistance and automated testing, further improving development efficiency and software quality.

In short, the market size of low-level development platforms is showing a rapid growth trend. The need for digital transformation of enterprises, the shortage of IT talents, and the requirement for cost control have all driven the market development of low-quality development platforms. In the future, the low-quality development platform will be more widely used in various industries, and integrate new technologies such as cloud computing and artificial intelligence to provide strong support for enterprise innovation and rapid iteration.

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