Low-code development platforms to grow 25% in 2023

in front of running IT skills gapAccording to a recent study, technologies such as low-code and no-code platforms can automate processes and empower workers to complete tasks.

Over the past four years, sales in low-code and no-code application platforms (LCAP) grew by more than $1 billion annually, from $3.47 billion in 2019 to an estimated $8 billion this year.

Over the next two years, LCAP is projected to be the “fastest growing segment” of the market.hyperautomation“The technology market, as research firm Gartner puts it. LCAP is expected to grow by 25% to nearly $10 billion in 2023 and $12.3 billion in 2024. According to Gartner,

“Organizations are increasingly turning to low-code development technologies to meet the growing demands [faster] application delivery and highly optimized automation workflows,” said Varsha MehtaA senior market research specialist at Gartner.

With LCAP, hyper automation technologies such as business process automation, robotic process automation, and citizen automation and development platforms (CAPD) are expected to reach approximately $32 billion in 2024; That’s more than $18.5 billion in 2021.

Low code development technologies generate millions of US dollars in revenue Gartner

Revenue of low-code development technologies (in millions of US dollars).

“The high cost of technical talent and the growing hybrid or borderless workforce will contribute to low-code technology adoption,” said Jason Wong, a distinguished vice president analyst at Gartner.

By “borderless workforce,” Wong was referring to remote employees who are no longer tied to a company’s geographic location.

According to a report by Morgan Stanley, there are now 26 million developers in the world, with an expected need of 38 million developers by 2024.

Low-code technology is designed to fill that IT talent gap because it allows virtually anyone to become a developer. Gartner predicts that by 2025, 70% of new applications developed by enterprises will use low-code or no-code technologies – up from less than 25% in 2020.

IT departments remain under pressure for IT talent great resignation Ongoing and ongoing digitization projects are increasing the pressure on existing resources.

In fact, 72% of IT leaders say project backlogs are now preventing them from working on strategic projects A study by Salesforce,

both business technologists and “civilian technologist“(employees without formal IT training but with some technical skills), productivity, efficiency and agility — often in the form of Fusion Teams” using low-code and no-code applications to meet business needs, Wong said. have been

Seventy-four percent of technology purchases are funded at least partially by business units (BUs) outside of IT, according to a Recent Gartner Survey, Only 26% of technology investments are fully funded by the IT organization.

Although LCAP is the largest market segment, civil automation development platforms are projected to grow the fastest, with a 30.2% growth forecast for 2023. Creating -as-a-service applications and reports and data visualizations according to Gartner.

Gartner predicts that by 2026, developers outside of formal IT departments will account for at least 80% of the user base of low-code development tools, up from 60% in 2021.

Research firm IDC agreed. in a research noteIDC said that the global shortage of full-time developers will grow from 1.4 million in 2021 to 4 million by 2025, meaning that the full-time developer labor force will grow to 90 in 2021. 2025.

At the same time civilian developers are turning to low-code and no-code platforms, according to John Bratincevic, a senior analyst at Forrester Research, nearly a third of professional developers are also looking to simplify development and speed up build times. using equipment for.

A January survey by IDC of 380 enterprises showed that 48.6% of respondents are buying low-code or no-code platforms to move innovation in-house. The second largest reason for purchasing software tools (39.3%) was “needs related to the pandemic”.

Low-code platforms require very little coding; Instead, they use a modular toolset (similar to what Legos use) to build business apps. By comparison, no-code platforms require text entry only for formulas or simple expressions.

Some of the most popular low-code platforms include Zoho Creator, Microsoft PowerApps, Visual LANSA, Retool, M-Power, Appian, Mendix, OutSystems, and Google App Maker. Some low-code platforms also come pre-integrated to work with other vendors and their platforms, such as Salesforce, QuickBooks, or Oracle.

While low-code platforms make building business apps easier, they come with some security risks as users are not always familiar with application security best-practices and may lack awareness and understanding of potential vulnerabilities. Low-code software can also be difficult to scale and integrate with existing CRM and ERP platforms.

According to Gartner, investments in low-code technologies that support innovation and agile integration will also increase as organizations embrace “creative enterprise”. (An agile enterprise is one that is agile and architected for real-time adaptability and resilience in the face of uncertainty.)

“Low-code development technologies are supporting the compatible enterprise by enabling the creation of more agile and flexible software solutions,” Wong said. “These technologies can be used to compose and reengineer modular components and packaged business capabilities to build custom applications that are adaptive to changing business requirements.”

Copyright © 2022 IDG Communications, Inc.

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