Low code development can help businesses create new digital offerings and deliver value to customers using the team they already have in place.
Low-code platforms are on the rise, and with projected revenue of $180.7 billion over the next ten years, it’s one of the hottest tech trends emerging in the wake of digital transformation. Let’s take a look at what’s contributing to low-code platform popularity and what businesses can expect from its use.
What are low-code platforms?
In the recent past, developing tech products required the expertise of a professional developer or IT team. Departments wishing to customize certain tech products were subject to third-party or departmental availability, creating wait times and lag in deployment.
With data-heavy business operations, the wait is unsustainable. Non-IT departments need customized solutions that gather, analyze, and deploy data. Without these products, companies risk falling behind competitors.
The problem is that sales teams aren’t typically coders, and neither are other departments vital to revenue and growth. Low-code products provide the type of accessibility these teams need to build and deploy tech products to drive innovation without waiting for a solution from IT.
Low-code platforms use drag and drop components containing the building blocks of programming, removing the need for technical expertise in development. Now, sales can create sales-specific dashboards, for example, that display data trends or analysis without IT intervention. It’s a new era of data literacy for business.
Low-code’s connection to digital transformation
As businesses dive further and further into the world of big data, teams don’t have time to wait for IT to deliver the business insight they need. Things like shadow IT – or third-party products deployed on a department or individual level without the tech department’s knowledge or intervention – put the business too much at risk to work well.
Low-code offers an alternative to these products and drives innovation through department-specific initiatives. Companies don’t need to hire special developers to create a mobile-first app, for example, or create a specific database. Now, businesses can put their data and data-driven initiatives truly into motion.
Low-code is projected to rise from around $10.3 billion in 2019 to $180.7 billion in 2030, and that’s a conservative estimate. As businesses fight for space in an increasingly competitive online world, these apps and services allow them to differentiate based on tech solutions more efficiently and cheaply.
The demand for low-code will only increase
Businesses can deliver value to customers through digital solutions using the team they already have. Quite a few industries have already used these platforms, including education, financial and insurance services, and healthcare.
North America is the biggest provider of low-code platforms, but that could also change. Demand is predicted to surge in the Asia-Pacific region thanks to rapid economic growth and smart-phone access.
As more organizations race to first in digital transformation, low-code platforms could cement their place in ordinary business operations. This dependence on technical solutions paves the way for their use.