Mordor Intelligence analysts forecast the low-code market to grow at a compound annual growth rate of 29.81% from 2022 to 2027. At the same time, Fortune Business Insights estimates the low-code demand to rise 31.6% from 2021 to 2028. Promising numbers, isn't it?
Such assumptions we suited above are based on the numerous benefits offered by low/no-code platforms. They allow users with little to no coding experience to quickly test hypotheses, create the most viable models and new solutions, launch digital services, and modify and integrate existing ones.
Imagine dragging and dropping pre-built functionalities, customizing interfaces, and integrating with existing systems – all without programming. As 2024 is in full swing, Yaroslav Kologryvov, Co-founder & CBDO of PLATMA, gathered some fresh statistics and forecasts regarding this shift and how software is now conceived, designed, and deployed.
The concept of citizen developers - non-technical users who create software applications using low/no-code tools - will continue to gain prominence in 2024. So far, businesses recognize their values - fresh ideas, faster innovation, and reduced reliance on IT for routine tasks. As these platforms become more user-friendly and intuitive, citizen developers will play a crucial role in driving innovation within their organizations.
Artificial Intelligence and Machine Learning capabilities are also integral to low/no-code development platforms. In 2024, we are already witnessing a proliferation of AI-powered features and functionalities within these platforms, enabling users to automate repetitive tasks, make data-driven decisions, and create more intelligent applications. From natural language processing for chatbots to predictive analytics for business insights, AI and ML enhances the capabilities of low/no-code development, making it even more accessible and powerful.
Low-code and no-code platforms won't exist in isolation. Seamless integration with existing enterprise tools like CRM, ERP, and data warehouses will be crucial. This fosters a more unified tech ecosystem, allowing the applications to leverage existing data and functionalities.
As multiple users across different departments create and modify applications using low/no-code platforms, ensuring version control, data security, and compliance with regulatory standards is paramount. Low/no-code development platforms evolve to provide robust collaboration features, such as real-time co-authoring, role-based access control, and audit trails. Additionally, organizations will implement governance frameworks and policies to maintain consistency, quality, and security across all applications developed using no-code tools.
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