The Global Low-Code Development Platform Market size is expected to reach $46.4 billion by 2026, rising at a market growth of 25% CAGR during the forecast period

New York, June 12, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Low-Code Development Platform Market By Component By Application By Deployment Type By End User By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p05914556/?utm_source=GNW
A low-code architecture allows developers with varying levels with expertise to build apps using a dynamic user interface in conjunction with model-driven logic. Such platforms may produce fully operational applications or require extensive coding for specific situations.

As a part of the micro computer revolution, businesses have distributed computers extensively around their employees’ bases, allowing mass integration of business operations using software. The need for digital integration and modern business process solutions imposes demands on software developers to create tailored systems in quantity, tailoring them to the specific needs of organizations. Low-code technology systems have been and are being developed as a way of facilitating the fast production and usage of functional software that can meet the unique process and data needs of the enterprise.

Niche platforms are designed to satisfy specific corporate demands, such as business process management (BPM), event management, and even customer relationship management (CRM). Low-code is a feature for such products, not a competitive bid. These platforms provide a scaled-down IDE visual production that enables the design of applications that function within the context and architecture of the software itself. These solutions are purpose-designed for a specific use case and are good for what they were developed for-but they do not fit the entire business range of use-cases for digital transformation.

Based on Component, the market is segmented into Platform and Services. Based on Application, the market is segmented into Web-based, Desktop & Server-based and Mobile-based. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on End User, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Energy & Utilities, Manufacturing and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.

The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix, Microsoft Corporation, Siemens AG, and Oracle Corporation are the forerunners in the Low-Code Development Platform Market. Companies such as Salesforce.com, Inc., K2 Software, Inc., Appian Corporation, and QuickBase, Inc., Zoho Corporation Pvt. Ltd., Pegasystems, Inc., and Fujitsu Limited are some of the key innovators in Low-Code Development Platform Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Salesforce.com, Inc., Microsoft Corporation, Oracle Corporation, Pegasystems, Inc., Fujitsu Limited (Fujitsu RunMyProcess), Siemens AG (Mendix), Appian Corporation, K2 Software, Inc., QuickBase, Inc., and Zoho Corporation Pvt. Ltd.

Recent strategies deployed in Low-Code Development Platform Market

Partnerships, Collaborations, and Agreements:

Apr-2020: Mendix, a Siemens Company came into partnership with Indium Software. Following the partnership, the latter company would use the Mendix platform for providing Web, and Mobile Applications over 8X (times) faster with better results, driving ROI in days, not months.

Mar-2020: Appian announced partnership with Deloitte Consulting, LLP. Following the partnership, the companies aimed to help modernize mission systems for its clients within the commercial, federal civilian, defense, state, and local government agencies. The companies are providing clients with the ability to modernize their systems through low-code development and intelligent automation, which ranges across several technologies including artificial intelligence (AI), robotic process automation (RPA), robotic workforce management (RWM) and more.

Jan-2020: K2 Software extended its partnership with Evonik Industries AG (Evonik), one of the world leaders in specialty chemicals. Under this partnership, the former company has expanded the implementation of K2’s low-code process automation platform to support its digital transformation initiative. Evonik’s global IT department used K2’s digital process automation (DPA) platform for three years and in that time has automated nearly 70 workflows, including functions in the control, pricing, and project management divisions.

Jan-2020: Appian signed technology partnership and integration initiatives with Celonis, the market leader in AI-enhanced Process Mining and Process Excellence software. The partnership was aimed to integrate Appian’s low-code automation platform with the powerful process mining technology of the Celonis Intelligent Business Cloud (IBC). The partnership would accelerate the digital business process transformation and continuous process improvement for joint customers.

Jun-2019: Microsoft collaborated with EasyVista Inc., a leading provider of intelligent service automation solutions. Following the collaboration, the latter company introduced its product solutions as official premium connectors for Microsoft applications. This new feature enabled customers to combine applications into EasyVista Service Manager using Microsoft Flow, Power Apps, and Azure Logic Apps.

May-2019: K2 Software came into partnership with Dropbox, Inc., the leading global collaboration: platform. The partnership was aimed at streamlining the way businesses connect and manage information across line-of-business (LOB) systems regardless of where the data originates.

Apr-2019: Microsoft teamed up with Kony, Inc., a leading cloud-based digital application and low-code platform solutions company. Following the collaboration, the latter company announced the availability of Kony Quantum for Microsoft Azure. Kony Quantum is seamlessly integrated with Azure and fully optimized using a cloud-native architecture, driving new digital and low-code productivity solutions to be developed rapidly and deployed effortlessly at scale within Azure’s global cloud infrastructure.

Apr-2019: K2 Software signed partnership agreement with Google Cloud. The partnership was focused on developing the ways businesses securely connect and manage information from desktop and cloud-based applications in Google Drive.

Apr-2019: Mendix, a Siemens business partnered with SAP, a multinational software corporation. Mendix applications can be deployed using SAP HANA as the primary database, taking full advantage of unprecedented performance, security, and real-time data analytics. The new offering would bring together the power of SAP’s intelligent enterprise and the speed of low-code application development using a single database strategy.

Acquisition and Mergers:

May-2020: K2 Software completed the acquisition of its distributor SourceCode ANZ Pty Ltd. (“K2 Australia”). K2 and K2 Australia share a long history of collaboration and joint innovation. The acquisition helped the company in establishing its foothold in Australia, further investing in growth across the region to fulfill the increasing demand for cloud-based process automation solutions.

Feb-2020: Salesforce acquired Evergage, a provider of personalization and customer data platform. The acquisition complemented Salesforce Marketing Cloud’s robust customer data, audience segmentation, and engagement platform, enabling companies for offering more relevant experiences during moments of interaction across the entire customer journey.

Jan-2020: Appian acquired Novayre Solutions SL, developer of the Jidoka RPA platform. The acquisition strengthened Appian’s business in Automation, with best-in-class solutions for workflow, AI, and RPA.

Aug-2019: QuickBase took over CloudPipes, a BrightCap Ventures portfolio company for workflow automation. The acquisition strengthened its business in the low-code landscape.

Product Launches and Product Expansions:

May-2020: QuickBase announced the addition of drag-and-drop integration and new workflow automation functions that would enable business users to build and execute workflows connected to third-party apps. These new functions would complement QuickBase’s existing application programming interface integrations and are designed to allow anyone, even those without expert coding knowledge, to connect with dozens of cloud and on-premises data center solutions.

Apr-2020: Microsoft released a beta version of Power Apps on mobile, for no-code application development. With mobile applications, anyone without knowledge of programming languages can easily and quickly assemble mobile business applications. The canvas and model development methods are both available in the mobile application.

Apr-2020: QuickBase unveiled the Quick Base Sandbox, a new way for business professionals to work with IT to safely innovate and test low-code applications that support unique business processes. Sandbox brings safe testing to business developers, providing a place to easily collaborate with IT when making changes to new and existing workflows.

Mar-2020: Pegasystems released the low-code Pega Platform, the COVID-19 Employee Safety, and Business Continuity Tracker app. The app provides business leaders with live dashboards that visualize the scope of COVID-19 exposure in their workforce and the impact it may have on operations.

Mar-2020: Appian launched the latest version of the Appian Low-code Automation Platform. The new version provides material business impact with unified, flexible, and fast enterprise automation.

Feb-2020: Pegasystems launched the Pega Express, a new low-code software development methodology. This methodology has been integrated within the Pega Platform. This methodology guides users step by step to quickly design and deploy Minimum Lovable Products (MLPs) and evolve and extend them into the future.

Nov-2019: Zoho announced the launch of the Arabic version of its low-code development platform, Zoho Creator. With the help of this platform, the business owners who do not have any coding experience can easily create custom apps using its simple drag-and-drop interface. In the Arabic version, the orientation of the UI is reversed, enabling businesses to build fully Arabic apps with easy to use UI and right-to-left data entry capabilities.

Oct-2019: Zoho unveiled Catalyst, a cloud-based developer platform with a focus on microservices. Catalyst provides developers a platform to create, run and manage event-driven microservice-based applications that can, among other things, also tap into many of the tools that Zoho built for running its applications, like a grammar checker for Zoho Writer, document previews for Zoho Drive or access to its Zia AI tools for OCR, sentiment analysis and predictions.

Oct-2019: Fujitsu RunMyProcess introduced the DigitalSuite Business Fabric, a connected and collaborative ecosystem. The ecosystem has been designed for enabling digital business innovation. DigitalSuite Business Fabric made it easier for enterprises to effectively leverage new sources of data.

Jul-2019: Microsoft launched PowerApps Portals in preview, a low-code solution for building responsive customer portals. PowerApps Portals aimed to bring external customer-facing experiences to organizations, without requiring deep technical expertise to do so.

Jul-2019: Fujitsu made enhancements to RunMyProcess DigitalSuite1, the high-productivity cloud platform. The platform was aimed to lift organizations ahead of their competitors by speeding up and simplifying the development of digital transformation projects.

Jun-2019: Salesforce.com launched a blockchain service. The service enabled the companies to develop networks to securely transfer data with partners and other third parties.

Jun-2019: Oracle unveiled the Autonomous Database Dedicated, a private database service inside the Oracle public cloud. The new service was focused on helping enterprise customers with high security or operational policy requirements get cloud database management services. Oracle’s Autonomous Database automatically takes care of database infrastructure issues such as hardware provisioning, configuration, security, and software installation.

Scope of the Study

Market Segmentation:

By Component

• Platform

• Services

By Application

• Web-based

• Desktop & Server-based

• Mobile-based

By Deployment Type

• On-premise

• Cloud

By End User

• BFSI

• IT & Telecom

• Healthcare

• Retail & eCommerce

• Government & Defense

• Energy & Utilities

• Manufacturing

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Australia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Salesforce.com, Inc.

• Microsoft Corporation

• Oracle Corporation

• Pegasystems, Inc.

• Fujitsu Limited (Fujitsu RunMyProcess)

• Siemens AG (Mendix)

• Appian Corporation

• K2 Software, Inc.

• QuickBase, Inc.

• Zoho Corporation Pvt. Ltd.

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