According to Gartner Inc., the worldwide market for low code development technologies is forecast to total US$26.9 billion in 2023, representing an increase of 19.6 per cent from 2022.
A rise in business technologists, enterprise-wide automated work processes and composable business initiatives following growing demands for optimized customer experience, plus economic pressures, and high cost of tech talent, are reported to be driving the fast adoption of low code technologies.
“Equipping both professional IT developers and non-IT personas — business technologists — with diverse low-code tools enables organizations to reach the level of digital competency and speed of delivery required for the modern agile environment.” said Varsha Mehta, senior market research specialist at Gartner.
Low-code application platforms (LCAPs) are projected to be the largest component of the low-code development technology market, growing 25 per cent to reach nearly US$10 billion in 2023.
Citizen automation development platforms (CADP) are projected to grow at the fastest pace, with a 30.2 per cent growth forecast for 2023. CADP typically includes automating workflows, building web-based forms, bridging data and content across multiple software-as-a-service applications, and creating reports and data visualizations.
Gartner also predicts that, by 2026, developers outside formal IT (information technology) departments will account for at least 80 per cent of the user base for low-code development tools, up from 60 per cent in 2021.