According to a study by Forrester, the low-code development platform market is expected to grow from $10.8 billion in 2018 to $27.5 billion in 2022 (Jones, 2018). This rapid growth is driven by a number of factors, including the increasing demand for custom software and the shortage of skilled developers.
Low-code and no-code platforms have several benefits for organizations. They can reduce the time and cost of development, as they allow non-technical staff to build and deploy applications without the need for specialized training. This can also increase the speed of development, as it reduces the dependence on a small number of developers.
In addition, low-code and no-code platforms can improve the agility of organizations by making it easier to test and iterate on new ideas. This can lead to the development of more innovative solutions and the ability to quickly adapt to changing business needs.
However, it is important to note that low-code and no-code platforms are not a replacement for traditional development methods. They are best suited for building simple or customized applications, rather than large, complex systems. In these cases, traditional development methods may still be necessary.
Overall, the rise of low-code and no-code platforms represents a significant shift in the way that software is developed and has the potential to make custom software more accessible to a wider range of individuals and organizations.
Jones, C. (2018). The low-code development platform market will reach $27.5bn by 2022. Forbes.