Investment in low-code development technologies appears to have been unaffected by cost-saving measures enacted by many companies in response to the pandemic. If anything, lockdown has boosted the adoption of low-code.
According to a new report from analyst firm Gartner, the market for low-code development tech will hit $11.3 billion this year, up almost a quarter (23.2 percent) compared to the same period last year.
The firm expects low-code application platforms (LCAP) to remain the largest component of the low-code development tech market throughout the year, rising by almost two thirds to reach $5.8 billion.
According to the analyst house, the Covid-19 pandemic has played a major role. Lockdowns forced companies to accelerate digital transformation initiatives, which placed pressure on IT pros to speed up software delivery and time to value. To handle the demand, they turned to citizen developers outside the IT world, which helped drive the rise of low-code.
Gartner claims 41 percent of employees outside IT either customize or build data solutions and predicts that half of all new low-code clients will come from business buyers outside IT before the end of 2025.
Another important factor contributing to the growth of low-code is SaaS vendors, who are providing capabilities that incorporate low-code development technologies.
“As SaaS grows in popularity, and these vendors’ platforms are increasingly adopted, the low-code market will see commensurate growth in LCAPs and process automation tooling,” Gartner concluded.