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At an accelerating CAGR of 27.96%, the low code development platform market share is expected to increase by USD 35.73 billion from 2021 to 2026. This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
This low code development platform report extensively covers market segmentation by product (platform and services) and geography (North America, APAC, Europe, South America, and Middle East and Africa).
The low code development platform (LCDP) market vendors studied and compiled in this report include AgilePoint Inc., Appian Corp., Aura Difusion SL, Betty Blocks BV, CREATIO EMEA Ltd., Cybozu Inc., Fujitsu Ltd., Idera Inc., Magic Software Enterprises Ltd., Mendix Technology BV, Microsoft Corp., Netcall plc, Newgen Software Technologies Ltd., Nintex Global Ltd., Oracle Corp., OutSystems Software em Rede SA, Pegasystems Inc., Pramati Software Pvt. Ltd., Quickbase Inc., Salesforce.com Inc., ServiceNow Inc., Skuid Inc., Thinkwise Innovation B.V., TrackVia Inc., Tyler Technologies Inc., and Zoho Corp. Pvt. Ltd. among others.
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Technavio categorizes the global low code development platform market as a part of the global systems software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the low code development platform market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the LCDP market encompasses successful business strategies deployed by the key vendors. The low code development platform market is fragmented and the vendors are deploying growth strategies such as technological advancements to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The low code development platform market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the low code development platform market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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48% of the market's growth will originate from North America during the forecast period. The US is the key market for low code development platforms in North America. Market growth in this region will be faster than the growth of the market in South America, Europe, and the MEA.
The increasing establishment of data centers and the adoption of technologies such as IoT, artificial intelligence (AI), and the Fifth generation (5G) will facilitate the low code development platform market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the low code development platform market in North America witnessed a slow growth, owing to the outbreak of COVID-19. The pandemic created a lethal scenario across North America, which has compelled governments to impose nationwide lockdowns to contain the spread of the disease. However, with the initiation of large-scale COVID-19 vaccination drives and the lifting of lockdown restrictions from Q4 2020, several end-user industries have resumed their operations, which has led to a surge in the demand for low code development platforms in the region. Thus, the regional low code development platform market is expected to grow moderately during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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