Low-Code Application Development Platforms - Market Outlook, Trends, Forecasts, Competitive Analysis, SPARK Matrix - Quadrant Knowledge Solutions
MIDDLETON, Massachusetts, June 29, 2020 /PRNewswire/ -- Quadrant Knowledge Solutions announces the addition of the following research to their strategic technology research offerings:
SPARK Matrix™: Low-Code Application Development (LCAD) Platforms, 2020
Market Outlook: Low-Code Application Development (LCAD) Platforms, 2020-2025, Worldwide
Low-code application development (LCAD) platform empowers citizen developers and professional developers to design, build, test, deploy, and manage enterprise applications without writing complicated code. It includes a visual modelling environment with a graphical user interface enabling business users without a technical background to easily create apps as per their specific business requirements. It may also include functionalities to allow custom coding for professional developers to create custom functionalities, extend existing applications, or build complex applications.
Driven by the impact of Covid-19 on the global economy, industry, and infrastructure, Quadrant Knowledge Solutions have revised the market forecast estimates for all the technology market. The global economy, along with industries, is facing significant challenges and are expected to post negative growth. While the Covid-19 has impacted the market for low-code development platforms, overall growth outlook looks promising. Despite the economic recession and negative impact on technology investments, the Low-Code App Development platforms market in 2020 is expected to post double-digit growth in the year 220.
Digital transformation across a range of industry verticals remains the primary market driver for the adoption of Low-Code platforms. The LCAD platform's key value proposition of providing a foundation for digital transformation initiatives, accelerating digital transformation projects, improving operational efficiency, addressing the challenges related to skill gap for qualified developers, eliminating operational bottleneck and substantial customization requirements for legacy systems, and such others are driving the market growth across the geographic market and industry segments.
Driven by the growing competition with the emergence of emerging vendors with innovative technology offerings, leading LCAD platforms vendors are making significant investments in improving AI and machine learning capabilities for providing smart assistance to citizen developers in developing applications faster. Additionally, driven by the promising growth opportunities and growing competition, LCAD vendors are looking at delivering use-case specific or industry-specific capabilities for improved customer ownership experience.
The global Low-Code Application Development platform research includes a detailed analysis of the global market regarding short-term and long-term growth opportunities, emerging technology trends, market trends, and future market outlook. The study provides a comprehensive market forecast analysis of the global market in various geographical regions, revenue type, and industry segmentation.
The Low-Code platforms market consists of a wide variety of well-established as well as emerging vendors. The market consists of different vendors that have a strong presence in other market categories, including intelligent BPMS (iBPMS), mobile app development, multi-experience development, CRM, and other SaaS applications for marketing, database management, content management, and other markets. Driven by the promising business opportunities and market growth, emerging vendors are continuously entering into the LCAD platforms market each year. The Low-Code App Development Platforms SPARK Matrix includes analysis of the leading vendors, including AgilePoint, Appian, Betty Blocks, GeneXus, K2, Kintone, Kony, Mendix, Microsoft, Oracle, Outsystems, Pega, Salesforce, Thinkwise, TrackVia, WaveMaker, and Zoho.
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About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client's business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments. For more available research, please visit https://quadrant-solutions.com/market-research/
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