The low-code platform market offers enterprises a large selection of options with players of varying sizes and capabilities co-existing. However, the market’s complexity is also one of the key reasons the technology has not realized its full potential.
According to Everest Group’s recent market study, as many as 60% of new application development engagements consider low-code platforms. Driven by the pandemic, the sudden surge in demand for digital transformation accelerated low code annual market growth to about 25%. Considering its potential, low code is appropriately being called the “Next Cloud.”