Over the past decade, low-code development has only increased in revenue and popularity for its efficient drag-and-drop functionality, accessible graphic user interface, and customizable use cases. Low-code development simplifies the application development process so IT departments are less burdened and can shorten development time by months.
As of 2023, 77% of organizations are using low-code platforms for software development, and some statistics project that low-code tools will be responsible for 65% of app development by 2024.
Continue reading to discover the answer to the following questions: how has low-code development grown over the past decade? Why have some companies yet to make the transition to low-code? How are small businesses using low-code development platforms? How are large businesses using low-code development platforms?
How Has Low-Code Development Grown Over the Past Decade?
The beginning stages of low-code development started in the early 2000s with rappid application development (RAD). Though a rudimentary version of low-code, RAD offered the same drag-and-drop visual approach to app development to shorten development time and simplify the process.
Low-code development became mainstream technology by the mid-2010s, and in 2014, Forrester coined the term "low-code." In a 2021 article, Gartner projected the total low-code market to add up to $13.8 billion, while 2023 projections calculate as much as $148 billion by 2030.
In 2020, Global Newswire predicted that by 2030, the low-code development market would generate $187 billion. Due to its accessibility, low code has encouraged the rise of citizen developers. Gartner also predicts that personnel outside traditional IT departments will make up 80% of the low-code user base by 2026.
Why Have Some Companies Not Made the Transition to Low-Code Yet?
43% of business owners who do not use low-code have yet to do so due to a lack of knowledge concerning the benefits of low-code development. Other business owners have concerns about committing to a platform or think low-code solutions must be more capable of meeting their needs.
How Could Small Businesses Benefit from Using Low-Code Development Platforms?
Maintaining traditional application development with professional developers is too expensive for most small businesses. However, it is crucial to keep up with digital transformation for small businesses to have a chance to remain competitive in their niche.
Through low-code and no-code platforms, small businesses can create business applications, automate business processes and workflows, develop low-code apps, and much more in a fraction of the time and cost it would take to do so with traditional development.
Because of its ease of use, citizen developers, business users, and IT professionals can access the platform and implement solutions with minimal coding required. With no-code technology, users can develop no-code solutions without writing a single line of code through pre-programmed templates and use cases.
Small businesses can quickly develop web-based customer portals and B2C mobile apps through low-code development tools without spending a fortune on extensive development teams.
How Are Large Businesses Using Low-Code Development Platforms?
Small businesses are just some types of businesses that benefit from low code. In fact, most large enterprises and businesses have already transitioned to low-code solutions to keep up with industry standards and remain competitive.
Redfin is a technology powered real estate company that leveraged low code technology to manage and orchestrate the preparation of properties they purchased for sale or rent. Combining multiple data sources together into a single interface using low-code technology they were able to overhaul numerous time-consuming manual processes and provide a single source of truth to business stakeholders.
Conclusion
As of 2023, 77% of organizations use low-code or no-code tools for their companies' software development. The percentage of applications developed using these tools will likely only increase going forward.
The early stages of low-code began in 2000 with RAD or rapid application development until Forrester coined the term "low-code" in 2014. By 2016, the user-friendly, drag-and-drop visual approach to development through low-code had become mainstream in the technology industry.
Some companies have not transitioned to low-code because they need to learn or understand low-code benefits and their options for low-code platforms.
Low-code and no-code development platforms allow small businesses to remain competitive in their industry. Low-code's quicker, more cost-effective application method reduces the necessity for expert programmers and provides the flexibility to change and adapt applications without accruing tech debt.
Larger businesses like Redfin have leveraged low-code platforms to develop applications and keep up with digital transformation in their respective industries.
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