Low Code Platform Industry Statistics

In this post, we will explore key statistics and trends shaping the low-code platform industry. From the current adoption rates among enterprises to the projected market growth in different regions, we will delve into the data that is driving the evolution of low-code development platforms. With insights on market spending, sector adoption, and the future landscape of application development, this overview will provide a comprehensive look at the growing influence of low code in the tech sector.

Statistic 1

"Around 41% of enterprises are using or planning to use low code platforms."

Statistic 2

"In 2024, the Asia Pacific region is projected to grow at the highest CAGR in the low-code development platform market."

Statistic 3

"Enterprises under 500 employees are the largest adopters of low-code platforms with a growth rate of 24.5%."

Statistic 4

"Global spending on low code development accounted for $7 billion in 2021."

Statistic 5

"North America to have the largest market size in the low-code development platform market during the forecast period."

Statistic 6

"The market share for low-code platforms is predicted to reach 45% by 2025."

Statistic 7

"General-purpose low-code development platforms expected to continue accounting for over 75% of low-code application platform spending through 2027."

Statistic 8

"The banking sector is the biggest adopter of low-code development platforms."

Statistic 9

"Out of the top performing low code platforms, Microsoft leads with a platform revenue of $473.3 million in 2020"

Statistic 10

"The healthcare sector is the fastest growing in the low-code development platform market, expanding at a value CAGR of over 40% through 2031."

Statistic 11

"CIOs and IT leaders expect 75% of their applications to be low code by 2025."

Statistic 12

"In 2021, low-code/no-code platforms were used to approach 38% of software development activities."

Statistic 13

"Incorporation of artificial intelligence (AI) in low-code platforms is predicted to increase productivity by over 50% by 2023."

The statistical data presented offers valuable insights into the current and future landscape of the low-code platform industry. With a substantial 41% of enterprises already using or planning to adopt low-code platforms, and the Asia Pacific region projected to experience the highest growth rate, it is evident that this technology is rapidly gaining traction. The dominance of smaller enterprises in adoption, coupled with the significant global spending on low code development, highlights the wide-reaching impact of this trend. Additionally, predictions of substantial market share growth, sector-specific adoption patterns, and the integration of AI further underscore the disruptive potential of low-code platforms. As industries across the board increasingly turn to low-code solutions for application development, the forthcoming years are poised to witness a significant transformation in software development paradigms.