According to Garner’s forecasts, the world market for ‘low code’ development Technologys, or low code, will reach 26.9 billion dollars in 2023, representing a growth of 19.6% compared to this year.
the market of low-code development will experience remarkable growth of almost 20% next year. This is clear from the forecasts of the consulting firm Gartner that point to the increase of technologists in business, as well as the growing hyper-automation in companies and composable business initiatives as the key drivers that will accelerate the adoption of low-code Technologys until 2026.
In the opinion of Varsha Mehta, a senior specialist in market research at Gartner, organizations are increasingly turning to ‘low code’ development Technologys to meet the growing demands of fast application delivery and highly customized automation workflows.
“Equip both professional IT developers and non-IT people with various tools of low code enables organizations to achieve the level of digital competence and speed of delivery required for the modern agile environment.
The consultancy forecasts that low-code application platforms will be the largest component of the low-code development technology market, growing 25% to nearly $10 billion by 2023.
Promoters of ‘low code’
While low-code application platforms stand as the largest market segment, citizen automation development platforms are projected to grow at a rate of up to 30.2% by 2023. Typical use cases for these platforms They include automating workflows, creating web-based forms, connecting data and content across multiple software-as-a-service applications, and creating reports and data visualizations.
In this sense, from Gartner they point out that the high cost of technological talent and a growing hybrid workforce will contribute to the adoption of ‘low code’ technology. In this sense, the consultancy forecasts that, in 2026, developers external to IT departments will represent at least 80% of the user base of low-code development tools, compared to 60% in 2021.
Spending on software Technologys for hyperautomation will reach $720 billion by 2023
For its part, interest in hyperautomation continues to rise due to increasing demands for operational optimization, the widening skills gap and growing economic pressures. This will encourage spending on software Technologys to hyperautomationwhich will reach 720,000 million dollars in 2023.
A portion of this spending will go toward low-code development Technologys, including low-code application platforms, citizen automation development, iPaasor robotic process automation, among others, to support process automation, integration, decision analysis, and intelligence use cases.
Investments in low-code Technologys that support composable integration and innovation will also grow as organizations embrace the composable enterprise.
These companies require better reuse of packaged business capabilities (PBCs) to agile application development and creating a personalized user experience for new workflows and processes.
In this way, ‘low code’ development Technologys are supporting the composable enterprise by enabling the creation of more agile and resilient software solutions”. These Technologys can be used to compose and recompose modular components and PBCs, to create custom applications adaptable to changing business needs.
initial image | Francisca Arnold