Logo of NYL Technology
Low Code App Development

Unveiling the Growth and Impact of the Low-Code Market

Sathish Natarajan

2 mins

Unveiling the Growth and Impact of the Low-Code Market

The low-code market has become a hotbed of innovation, transforming the traditional landscape of software development. With its promise of increased speed, agility, and accessibility, low-code platforms have garnered significant attention from businesses across various industries. In this blog post, we delve into the growth and impact of the low-code market, drawing insights from a recent report by Gartner, a leading research and advisory firm. Let’s explore the key findings and understand how low-code is reshaping the future of software development.

  1. The Explosive Growth of the Low-Code Market: According to the Gartner report, the low-code market has witnessed remarkable growth in recent years. In 2020, the market experienced a significant surge, with a 22.6% increase in revenue compared to the previous year, reaching a total of $5.8 billion. This growth is attributed to several factors, including the increasing demand for rapid application development, the rise of citizen development, and the need for digital transformation.
  2. Key Drivers of the Low-Code Market: The Gartner report highlights the key drivers behind the rapid expansion of the low-code market. One of the primary drivers is the growing need for organizations to accelerate their digital transformation initiatives. Low-code platforms provide a powerful toolset that enables businesses to quickly build and deploy applications, facilitating faster innovation and adaptability in today’s fast-paced digital landscape.
  3. The Rise of Citizen Development: Another significant factor contributing to the growth of the low-code market is the emergence of citizen development. With low-code platforms, individuals with minimal coding knowledge can participate in application development. This democratization of software development empowers business users to take an active role in creating applications, reducing the burden on IT departments and fostering innovation at various levels within organizations.
  4. Impact on Software Development Processes: The Gartner report emphasizes how low-code platforms are reshaping software development processes. By eliminating the need for extensive hand-coding, these platforms enable developers to focus on higher-value tasks and complex problem-solving. The report also highlights the increasing adoption of low-code in larger enterprise projects, indicating its ability to scale and support complex applications.
  5. Benefits and Challenges of Low-Code Adoption: According to Gartner, the benefits of adopting low-code platforms are manifold. They include faster time-to-market, increased productivity, improved collaboration between IT and business teams, and the ability to respond to changing market demands quickly. However, the report also acknowledges challenges such as security concerns, integration complexities, and potential vendor lock-in, emphasizing the importance of careful evaluation and planning when adopting low-code solutions.
  6. Future Outlook for the Low-Code Market: The Gartner report concludes by projecting a promising future for the low-code market. It predicts that by 2024, low-code application development will be responsible for more than 65% of application development activity. The report also highlights the ongoing advancements in AI-driven development, containerization, and hybrid development approaches, indicating that low-code platforms will continue to evolve and cater to the changing needs of the software development landscape.

The Gartner report provides valuable insights into the growth and impact of the low-code market. With its exponential growth, the low-code market is transforming software development processes, empowering businesses to innovate and adapt more rapidly. While the benefits of low-code platforms are evident, organizations must carefully consider the challenges and evaluate the suitability of these platforms for their specific needs. As we look towards the future, the low-code market is poised to shape the software development landscape and redefine the way applications are built and deployed.

To learn more about how low-code platforms can move your digital transformation to the next level, contact us.

Suggested articles