DUBLIN--(BUSINESS WIRE)--Nov 19, 2020--

The rapid application development market is expected to reach a CAGR of 42.6% during the forecast period (2020 - 2025).

The growth of the market is attributed to the advantages over other development models such as requirements that can be changed at any time, encourages and priorities customer feedback, and time between prototypes and iterations is short, among others.

Companies Mentioned

  • Oracle Corporation
  • Microsoft Corporation
  • Salesforce.com Inc.
  • IBM Corporation
  • Amazon Web Services
  • Appian Corporation
  • ServiceNow
  • Zoho Corporation Private Limited
  • OutSystems
  • LANSA

Key Market Trends

Small and Medium-sized Enterprises To Drive the Market Growth

Small and Medium-sized Enterprises are likely to drive the growth of the market due to their adoption of rapid application development platforms to develop customer-centric applications at lower costs and for better productivity.

  • SMEs are significantly contributing to the economy for most regions. According to the US Small Business Administration (SBA), more than 50% of Americans either own or work for a small business. SMBs also account for 40% of the country's GDP. Approximately 99% of all enterprises in the EU employ fewer than 250 persons.
  • Small businesses need access to their data on the go, with no overhead for storage maintenance and hardware maintenance costs. Moreover, SMEs are looking for cloud-based RAD platforms to save money, time, and resources. This further boost the growth of the market.

Asia-Pacific to Witness Highest Growth

The increasing technical expertise, the growing presence of large enterprises, enhanced services, and expanding cloud-based service providers are contributing to tremendous growth in the APAC region.

  • Moreover, countries like China, Japan, India, and Singapore adopt the latest technologies in the region that influence the rapid application development vendors to expand in the region further.
  • Furthermore, Singapore is home to companies like Point Share, Octal Info Solution, Hermes Infotech, Ranosys Technologies, and MindCraft Singapore, among others that provide technology solutions that propel the businesses to higher levels and increase the efficiency of the application.
  • Also, SMEs in the region are shifting towards cloud computing and migrating their services to clouds for better business results and productivity. According to recent data from the Indian Ministry of Micro, Small and Medium Enterprises, India has 50 million MSMEs, making it among the world's largest MSMEs, which further boosts the market's growth.

Key Topics Covered:

1 INTRODUCTION

1.1 Study Assumptions and Market Definition

1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Innovation in the Businesses and Integration of Advanced Technologies

4.2.2 Flexibility to Customize Solutions as per an Organization's Dynamic Requirements

4.3 Market Restraints

4.3.1 Lack Of Skilled Professionals

4.4 Industry Value Chain Analysis

4.5 Industry Attractiveness - Porters Five Forces Analysis

4.5.1 Threat of New Entrants

4.5.2 Bargaining Power of Buyers/Consumers

4.5.3 Bargaining Power of Suppliers

4.5.4 Threat of Substitute Products

4.5.5 Intensity of Competitive Rivalry

4.6 Assessment on the Impact of COVID-19 on the market

5 MARKET SEGMENTATION

5.1 By Type**

5.1.1 Low-Code Development Platforms

5.1.2 No-Code Development Platforms

5.2 By Tool**

5.2.1 Mobile-based

5.2.2 Web-based

5.2.3 Desktop-based

5.2.4 Server-based

5.3 By Deployment Mode

5.3.1 On-Premise

5.3.2 Cloud

5.4 By Organization Size

5.4.1 Small and Medium-sized Enterprises

5.4.2 Large Enterprises

5.5 By End-User

5.5.1 Telecommunications and IT

5.5.2 Government

5.5.3 BFSI

5.5.4 Retail

5.5.5 Healthcare

5.5.6 Other End Users

5.6 Geography

5.6.1 North America

5.6.2 Europe

5.6.3 Asia-Pacific

5.6.4 Rest of the World

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles*

6.1.1 Oracle Corporation

6.1.2 Microsoft Corporation

6.1.3 Salesforce.com Inc.

6.1.4 IBM Corporation

6.1.5 Amazon Web Services

6.1.6 Appian Corporation

6.1.7 ServiceNow

6.1.8 Zoho Corporation Private Limited

6.1.9 OutSystems

6.1.10 LANSA

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/up3ohg

Laura Wood, Senior Press Manager

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KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE

SOURCE: Research and Markets

Copyright Business Wire 2020.

PUB: 11/19/2020 10:26 AM/DISC: 11/19/2020 10:26 AM

Copyright Business Wire 2020.