51+ Low Code Industry Statistics and Facts

Quick Summary: Low code is now mainstream as more and more companies are choosing convenience and flexibility over development complexities. To help you navigate through the buzz of this trend, we will explore a few low code statistics and trends for 2024 in this article. The facts and statistics will help you find the right solutions for your project needs.

Innovation is the heartbeat that keeps businesses thriving in the world of software development. Enter the amazing spectrum of low-code development – a game-changing force that’s reshaping the way we develop software applications.

Let’s imagine a scenario where coding becomes an art accessible to all, complex applications can be developed at the click of a button, and data-driven insights fuel every development decision.

This blog is your way to the future of software development – low code. We will discuss its latest trends, statistics, and facts. We will also look at how low code is impacting businesses in 2024. Furthermore, we will go through some predictions for low code development and how it’s going to revolutionize the way we develop the software.

Let’s read without any ado.

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Low Code Market Growth for 2024

• Low-code is now in use in 77% of organizations.
• Low code development tools will be responsible for more than 65% of application development activity by 2024.
• 75% of large enterprises will use at least four low code development tools for both IT application development and citizen development initiatives.
• The market of global low-code development platforms is expected to generate a revenue of 187 billion USD by 2023, rising from 10 billion USD in 2019, and is expected to advance at a fast pace, 31% CAGR, during the forecast period.

According to a Gartner forecast, the use of low-code application platforms is booming and will still accelerate the legacy modernization efforts. The report predicts that nearly 35% of government legacy applications will be interchanged by solutions built on low-code application platforms and maintained by multidisciplinary teams by 2025.

The global low-code platform market revenue is valued at over $32.4 bn in 2024 and is estimated to touch a value of $167 bn by 2030.

Low Code Market Adoption Statistics for 2024

• By 2025, 70% of newly developed applications will use low-code or no-code technology, up from less than 25% in 2020.
• According to 40% of IT leaders, low-code will increase the diversity of their IT organization.
• 41% of organizations have active citizen development initiatives, and 20% of them are either evaluating or preparing to start citizen development initiatives.
• Within a year, about 79% of organizations create a web application using citizen development.
• By the end of 2025, business buyers outside the IT organization will account for half of all new low-code clients.
• Around 60% of all custom applications are developed outside the IT department. Employees with limited technical development skills and experience built 30% of those.
• 84% of businesses now use low-code due to its capacity to lower the burden on IT resources, quicken time to market, and involve the company in the creation of digital assets.
• 31% of businesses employing low-code haven't created or delivered any of their most valuable applications using it.
• Prudent businesses are even more likely to prefer low-code for its process automation (67%), speed (63%), and flexibility (83%).
• For complicated business logic, 30% of businesses say they would rather utilize custom low-code in the future.
• Cloud-native methodologies will be used to create and deploy more than 500 million digital apps and services by 2023, which is equal to the number of apps created in the previous 40 years.
• Low-code apps are used in 63% of apps categorized as maintenance apps. 40% of respondents claimed that less than 25% of the apps they create each year will be focused on innovation.
• The market is embracing low-code platforms at their highest rate (17%) in the exploitation, energy, and extraction industries.
• Gartner survey reveals that deliberately or incidentally, the C-level executives have already been placing the founding stone for democratized digital delivery with technologies like that of low-code platforms.
• In EMEA (Europe, the Middle East, and Africa), 66% of C-suite execs confirmed they have deployed or are planning to deploy low-code platforms in the approaching 2 years.

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Low Code Development Trends for 2024

Here are the top low code development trends in 2024 that your business should adopt.

Importance of Low Code Development Solutions

Low code platforms allow users to build and deploy applications with little or no IT involvement. This makes an ideal solution for businesses to adopt this platform with minimal resources.

Gartner forecasts that 70% of new applications will be built with low-code/no-code platforms by 2025.

• 90% of app development time will be reduced using no code and low code development services.
• The worldwide low-code platform market is estimated to amount to nearly $65 bn by 2027.
• Over 65% of non-IT professionals will generate IT products and services by 2024, making up 80% of the total.
• Using low-code tools, the average company avoided hiring two IT developers. The applications created yielded an improvement in business value of around $4.4 million over three years.
• No-code solutions use 70% less resources than traditional app-building platforms.
• The IT and business teams collaborate on 59% of low-code projects.
• Low-code is a trend that 75% of IT professionals feel they can't afford to ignore.

Low-Code Development Benefits Statistics for 2024

There are multiple benefits of low code development that businesses can leverage in 2024 -

• Business owners find low-code development platforms cost-effective with improved agility.
• 12% of low-code users claim that their app backlog has improved than before.
• 71% of enterprises using citizen development have accelerated application development by at least 50%, and 29% of businesses have witnessed a delivery time increase of two times or more.
• 90% of low-code platform users have less than five monthly app requests in their backlog.
• Business units were 21% happier using low-code solutions than among those not using low-code. So, this is a heads-up to leverage low-code platforms in 2024.
• 70% of low code users who used low code platforms for the first time had no prior knowledge and learned low code in a month or less.
• 72% of users are developing apps with low-code applications in less than 3 months.
• 69% of professional IT developers prefer to work using low-code development platforms. That’s a major chunk, right? Be part of the bandwagon in 2024 by embracing low-code development platforms in your business.
• An annual average of 12 applications are created using a low-code development platform.

Low Code App Development Statistics You Need to Know in 2024

• After data science, IT is the second-largest spectrum where businesses are most likely to address skill gaps.
• In 2023, the average base salary of a software developer in the US was $117,820 annually. Though no code development solutions don’t completely replace developer functionality, they allow them to focus on more challenging projects.
• 82% of businesses confirm custom app development outside of IT is vital.

Low-Code Development Use Cases for 2024

• 58% of low code development is used to build forms or data-collection applications.
• Around 49% of applications that streamline business processes and workflows are developed using low code tools.
• 42% of developed low code applications replace paper, email, or spreadsheets.
• 22% of existing on-premises applications are redeveloped using low code platforms for better UI.
• Web apps are the most popular type of citizen development, with citizen developers creating an average of 13 apps.
• In a global study conducted by Statista, 33% of participants said their company uses low code for data modeling and visualization.

Low-Code Industry Facts

• There are around 223 low code platforms for development and 13 low code platforms for developing machine learning-driven solutions.
• 42 vendors providing PaaS (platform as a service)-primarily used low-code development tools.
• Based on data gathered from customer reviews for all low code/no-code development platforms firms, "ease of use" is the most frequently used (20%) positive word describing low code/no code development platforms.
• The word "clunky" is used to describe low code solutions the most negatively, and it appears in 5% of reviews for low code / no code development platforms.

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Low-Code Development Challenges Statistics

Low-code development platforms offer rapid application development but face challenges like limited customization, scalability concerns, potential vendor lock-in, and security risks. Users may encounter difficulty in creating complex, highly specialized solutions, making them unsuitable for certain enterprise or mission-critical applications.

Here are some of the most critical statistics of challenges you might have to face in 2024 for low-code development -

• Due to a lack of expertise, 47% of organizations still do not use a low-code development platform.
• 25% of businesses have security concerns with applications developed using low-code tools. So, make sure to partner with a seasoned low-code platform development team as you approach it in 2024.
• 5% of users of low-code applications think they are clunky.
• After purchasing low code tools, just 12% of businesses use them to control their business processes.
• 37% of organizations are concerned about “lock-in” with a no code/low code vendor.
• 32% of organizations don’t believe in developing apps using low code tools.
• 35% of organizations are concerned about the scalability of the developed apps.

Top Low-Code Platforms for App Development

There are many top-notch low-code platforms available that offer a variety of options to support your company. Here, we have listed down the top five low code platforms for app development.

• Zoho Creator
• Appian
• PowerApps
• Mendix
• Salesforce App Cloud

Experience the Magic of Low Code Development with RadixwebThis trend – low code development has gained huge popularity in many industries, leveraging multiple benefits. Also, considering the above low code development statistics for 2024, the number of users and the usage of tools is going to rise.In a nutshell, low code platforms for development are booming in the market and becoming essential for organizations to build intuitive and modern business applications.So, if you are planning to implement a low code platform for your business or want to build an application using Low Code/No Code development, connecting with Radixweb will help you transform your journey. Our experienced low code developers will help you find the right platform per your project requirements and lead you to success.