Digital transformation of the manufacturing, retail, healthcare, education, logistics, telecom, pharmaceuticals, hospitality, information technology (IT), energy and utilities, media and entertainment, and banking, financial services, and insurance (BFSI) sectors has coerced the adoption of digital technologies to improve their operations. This objective can be achieved through low-code development platforms, which play a pivotal role in digital transformation by conserving time and resources.

Additionally, these platforms enable quick digitization of sales and accounting and finance. Moreover, the reducing dependency of end-use industries on IT professionals will aid the low-code development platform market to progress at a healthy CAGR of 31.1% during 2020–2030. The market was valued at $10.3 billion in 2019 and it is expected to generate $187.0 billion revenue by 2030.

Several business departments, such as operation, human resource (HR), and accounting and financing, require various applications to improve process efficiency. To reduce such backlogs and improve process efficiency, businesses are adopting low-code development platforms. Additionally, the rising implementation of stringent data protection laws, owing to the soaring cases of data breaches, will also encourage the usage of low-code development platforms for designing various applications.

For instance, the General Data Protection Regulation (GDPR) Act by the European Union lays down the process to permit organizations to use personal data. Such stringent regulatory norms complicate the application development process, owing to which they are increasingly using low-code development platforms. IT departments of various industries often experience application development backlogs.

Therefore, the escalating cases of data breaches, accelerating digitization rate, and reducing dependency on IT professionals will create a huge requirement for low-code development platforms in coming years.