Some five years ago, the low-code market was worth $1.7 billion. But today, the estimates indicate that by 2022, this industry will see immense growth and be worth over 27 billion, which is more than just impressive. In 2019, more than 30% of app developers were using low-code platforms or were planning to tap into the potential offered by the low-code technology. But due to the pandemic, the use of this technology increased drastically. As of today, almost 58 % of app developers are successfully employing low-code tools for creating their solutions. In the coming future, three things will shape the technological advancement of enterprise application development.
Change in the Workforce
First, there will be a massive change in the workforce. Today, 35% of the workforce are millennials, but by 2025, it will be 75%. Additionally, 24% of the workforce will be Generation Z. This means that more than 90% of the workforce will be today’s youth. Thus, the demand for digital experiences will increase exponentially.
This change in the workforce will inevitably lead to a further surge in demand for web and mobile applications. And this demand can be met if low-code solutions start to be used more extensively.
The new generation of users and developers will be better off interacting with the applications created with the help of low-code platforms. Since such platforms rely on visual methods to create apps, it allows representing any information in a form that is readable to beginner users without any previous coding experience to professional developers.
Surging Digital Demands
Cloud-based and AI apps will be more involved in our day-to-day lives. The world is getting more and more mobile-oriented. So, it comes as no surprise that there will be more need for digital transformation. It is believed that more than 500,000 apps will be built in the next five years, which is more than all the apps built together in the last 40 years. And there will be five times more demand for mobile applications.
Needless to say, low-code technologies can go a long way towards taking some of the work off coders’ shoulders. Low-code development also reduces the need for more developers and thus allows companies to reduce hiring costs. This means that more applications, including sophisticated AI and ML solutions, can be created from pre-defined components within a short space of time. What’s more, low-code technologies help existing applications quickly adapt to the rapidly changing market requirements and users’ demands, which is another benefit worth taking note of.
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Adding to all of the aforementioned facts, there was a sudden and dramatic economic downturn entailed by the impact of the notorious COVID-19 crisis. According to the recent estimates, the world GDP has fallen by around 5, 2%, which would mark the greatest recession since WWII. This means that everyone needs to address their digital needs with a minimum of tools and skills.
Surviving under harsh conditions requires low-code systems that can supply industries with out-of-the-box solutions that can help create full-featured applications without using programming languages. What’s more, low-code platforms make it possible to reuse pre built or newly-developed modules, plug-ins, and app features for creating other similar applications. This all allows you to reduce costs and substantially speed up your app development timeline.
So, what lies ahead for the application development industry in 2022? The answer is as clear as day – it’s the low code technology. It has already allowed companies of all sizes to innovate their business processes and boost their overall productivity. And there is much more to come.
It’s predicted that by 2024, low code will be responsible for more than 65% of application development. So, instead of trying to teach everybody code, there will be a straightforward trend towards overhauling the app development industry. Make sure to keep up with it!