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Low-code development platforms to grow 20% in 2023

Potential of Low Code Development Platforms in 2023 (Stated Facts & Findings)

March 24, 2023

Want to develop apps without writing a line of coding?

Planning to boost the software development process?

Have you tried low-code development tools?

Let’s discuss this in detail -:


What are Low-code Development Platforms?

Low-code development platform refers to an app development platform that lets you create an application without writing a single line of code. It helps enterprises in reducing the initial cost for setup, training, deployment, and development by optimizing the efforts for manual coding.

It offers Graphical User Interface for programming and lets users access the data and use it effectively no matter the place and time. You can develop multi-platform and multi-purpose apps that range from minimalist call logs to heavy and complex ERPs that are capable enough to integrate with your current processes.


Growth of Low-Code Segment

According to the latest forecast from Gartner Inc., the global market for low-code development technology is all set to grow nearly 20% from 2022 and is expected to reach $26.9 billion in 2023

The key driving forces of the low code development technologies are the rising demand for the latest technology in the business world and the enterprise-wide hyper automation and composable business initiative. Together, both these driving forces contribute significantly to the adoption of low-code technologies through 2026.

Organizations are leveraging the power of low code development technologies to streamline their operations and ensuring that their demand for scalable app delivery and custom automation workflows are met significantly. This technology is widely serving professional IT developers and Non -IT background individuals by developing applications quickly which is extremely crucial in this modern agile environment.

Organizations that deal with artificial intelligence (AI) are training non-technical employees and molding them for creating AI-based applications by using Low-code development that will empower the creation of AI apps.

As per a recent study, in a world with an ongoing dearth of talented workforce, technologies like low-code and no-code platforms are automating processes and empowering individuals to achieve tasks. It is posing significant growth and tends to bring accelerated opportunities.

According to Gartner, almost 37.4 million people are expected to quit their jobs in 2022 that fall into the Millennial and Gen Z groups. And by 2030, it is projected that there will be a dearth of talented 85 million people which will impact nearly $8.5 trillion in unrealized annual revenues.

In each of the past 4 years, sales in low-code and no-code application platforms (LCAP) have raised $1 billion annually, from $3.47 billion in 2019 to a projected $8 billion this year.


Hyper Automation – The Fastest Growing Segment

Over the next two years, the LCAP market is projected to be the burgeoning and flourishing segment of the “hyper-automation” technologies market, as per the research firm – Gartner. This segment is expected to reach 25% to roughly $10 billion in 2023 and $12.3 billion in 2024.

Along with LCAP, hyper-automation technologies that are backed by business process automation (BPA), robotic process automation (RPA), and citizen automation and development platforms (CAPD), are projected to increase to almost $32 billion in 2024; that’s up from $18.5 billion in 2021.

According to Gartner, the spending on hyper-automation-enabling software technologies will reach $720 billion in 2023. This amount will be contributed towards the low-code development technologies. It includes MXDP, iPaaS, LCAP, RPA, and CADP. These low-code technologies help enterprises with process automation, decision analytics, integration and intelligence use cases.

As per the research note, IDC said that the global dearth of full-time developers will increase from 1.4 million in 2021 to 4 million by 2025, which means the full-time developer labor force was performing at 90.8% capacity in 2021 but will be at just 84.9% capacity in 2025.

At the same time, citizen developers are looking towards leveraging the power of low-code and no-code platforms. Almost 1/3rd of experienced developers are typically using such tools for streamlining the build times of app development and app speed.

While low-code technologies abridge the development of business applications, they pose several security risks as users aren’t always acquainted with app security.

They may lack awareness towards any data threat or loss and an understanding of potential vulnerabilities. In that case, Low-code software can work significantly if you scale and integrate it with existing CRM and ERP platforms.

Various organizations face immense pressures in ensuring quicker application delivery and custom automation workflows. That’s where low-code development technologies are becoming more demanding. It is helping in reducing the skills gap within your organization and increasing effectiveness and profitability.

Table 1. Low-Code Development Technologies Revenue (Millions of U.S. Dollars)

2021 2022 2023 2024
Low-Code Application Platforms (LCAP) 6,324 7,968 9,960 12,351
Business Process Automation (BPA) 2,416 2,585 2,761 2,940
Multi experience Development Platforms (MDXP) 2,081 2,508 2,999 3,563
Robotic Process Automation (RPA) 2,350 2,892 3,401 3,879
Integration Platform as a Service (iPaaS) 4,680 5,668 6,668 7,838
Citizen Automation and Development Platforms (CADP) 554 732 953 1,232
Other Low-Code Development (LCD) Technologies* 92 109 126 146
Total 18,497 22,462 26,869 31,949

*Other low-code application platforms include rapid mobile app development (RMAD) tools and rapid application development (RAD) tools. RAD tools are on-premises only and desktop-bound applications mainly. Low code is the evolution of RAD to cloud and SaaS models.

Notes: Gartner defines a no-code application platform as an LCAP that only requires text entry for formulae or simple expressions. The LCAP market, therefore, includes no-code platforms. Furthermore, “no code” is not a sufficient criterion for tasks like citizen development, as many complex tooling configuration tasks are no code but still require specialist skills. Columns may not add to totals shown because of rounding.

Source: Gartner (December 2022)

Which low-Code Development application platforms are popularly available?

Various low-code app platforms help the composable enterprise by making it easier to create software solutions that are more agile and resilient. Some of the leading solutions for LCAP are-

1. Microsoft Power Platform

Microsoft Power Platform is a line of business intelligence, app development, and app connectivity software applications that helps you in automating processes, building solutions, analyzing the data, and creating virtual agents.

Combining the power of business intelligence, you can build end-to-end business solutions that will empower your business in solving challenges quickly and cost-effectively.

Moreover, if you connect the low-code application platforms with Microsoft apps like Dynamics 365, Office 365, and Azure, you can create complex solutions with relative ease.


2. Visual LANSA

Visual LANSA is an integrated development environment (IDE) for creating desktop, web, and mobile software apps that can be deployed to Linux, Cloud, Windows, and IBM server platforms.

It combines low-code and traditional coding in the same IDE – one IDE to develop progressive web and desktop applications using many of the same assets that make your business engine run smoother and faster.

Being a cloud-based software, it enables enterprises in building multi-experience apps, deployments, and operations and eliminates the silos between IT & development.


3. OutSystems

OutSystems is an omnichannel low-code platform. It helps enterprises in developing applications all across a variety of mediums. With the united design, coding, and deployment, Outsystems deliver unmatched performance for innovation to flourish.

This low code platform delivers radically beginner’s yet powerful development that dramatically increases the productivity and efficiency of your team. With just one click, it lets your team deploy and edit changes to your applications supported by strong security and ensuring an error-free system.

OutSystems accelerates and streamlines app lifecycle optimization delivers the best in class modern cloud technologies, and incessantly adds new features and capabilities. It also includes significant features like data models for cross-platform and full-stack apps and drag-and-drop UI.


The Final Words

The Low-Code Development Platforms are growing at a breakneck. From boosting the efficiency of the business to saving time on coding the applications, LCDPs have come a long way in delivering visual development support to every user and developer at the helm.

It contributes significantly to reusing the components and follows agile methodological alignment and one-click deployment to ensure a smooth and faster software development process.

Are you interested in app development by leveraging low-code development platforms? Call Techcronus now and get professional assistance today!


By TechcronusAdmin

Techcronus is a worldwide supplier of Enterprise Business Solutions and Custom Software Development Services, with locations in the USA, Australia, and India. It has accomplished the successful delivery of over 800 projects to start-ups, SMBs, and well-known brands, such as Starbucks, Unilever, and IKEA. The firm's areas of expertise include Microsoft Dynamics 365 ERP/CRM solutions, Web Development, Business Applications Management (.NET and DevOps), Mobile Development (Native, Hybrid, Blockchain), Staff Augmentation, Product Development & Support, and UI Design and UX.