If you’re in the web or app development industry, then you’ve probably been keeping an eye on the low-code development platform market. This is because this market is expected to snowball in the next few years.
In a recent report, the global low-code development platform market is expected to grow from $19.37 billion in 2021 and reach a whopping $68.84 billion by 2026 with a compound annual growth rate (CAGR) of 28%.
So, why should you be paying attention to the low-code development platform market?
The answer is simple: this market is expected to grow significantly in the next few years as businesses increasingly demand applications that can help them optimize their operations. This presents an excellent opportunity for web and app developers to get ahead of the curve.
Low-code is a coding-based software that allows users to create and manage applications quickly with less manual coding. These platforms are beneficial because they reduce the time and cost of developing your business’s platform. This, in turn, is useful to processes within an organization as well as outside parties who will be using these types of technologies soon enough.
Low-code platforms make an ideal solution for businesses that want to streamline their processes and improve their efficiency. The growing demand for low-code solutions is driven by the need for faster application development, increased agility, and reduced costs. The market is expected to continue to grow at a rapid pace as more businesses adopt low-code solutions to meet their needs.
Technological advancements are playing a significant role in shaping the low-code development platform market. Platform providers are constantly introducing new features and capabilities that make it easier than ever for users to build sophisticated applications. In addition, low-code platforms are becoming more and more lightweight and cloud-based, making them easier to deploy and scale.
We’re really excited about low-code development platforms because they make it possible for the average person to develop software without needing to be a computer expert. In the past, developing software was something that only people with years of training and experience could do. But now, with low-code development platforms, anyone can create software applications with just a few clicks. This is particularly valuable for businesses that need to integrate legacy systems. By using artificial intelligence to engineer a low-code development platform, we can eliminate the technical complexity that would otherwise make it difficult or impossible to integrate those legacy systems. This opens up a whole new world of possibilities for businesses of all sizes. And it’s just one more way that artificial intelligence is making our lives easier and more productive.
As low-code development platforms continue to evolve, we can expect them to have an even more significant impact on the software industry. We’re already seeing a shift in the way software is developed, and we believe that low-code development platforms will play a significant role in shaping the future of software development. If you’re not already using a low-code development platform, now is the time to start investigating what they have to offer – like what we have at Putti for workflow automation. We think you’ll be pleasantly surprised by how much they can simplify and accelerate your software development efforts.