Market for low-code development platforms to reach $21.2 billion in 2023

 

Low-code development platforms, which allow users to create software applications without writing code, are expected to see significant growth in 2023. According to a recent report, the market for low-code development platforms is expected to grow by 25% in 2023, reaching a value of $21.2 billion.

The increasing popularity of low-code development platforms is being driven by a number of factors. One of the main drivers is the growing demand for digital transformation within businesses. As more companies look to embrace digital technologies, they are turning to low-code platforms as a way to quickly develop and deploy new applications.

Another factor driving the growth of low-code development platforms is the shortage of skilled developers. With the demand for software developers far outpacing the supply, many companies are turning to low-code platforms as a way to build applications without having to hire and train specialized staff.

Low-code development platforms are also attractive because they allow non-technical users to create applications. This makes them particularly useful for small businesses and startups that may not have the resources to hire a team of developers.

Overall, the growth of low-code development platforms is expected to continue in the coming years, as more businesses look to digitize their operations and take advantage of the benefits these platforms offer. As the market evolves, it is likely that we will see an increasing number of companies adopting low-code platforms as a key part of their digital strategy.