The Low-Code and No-Code development platform market has seen huge growth over the past several years – but just how big is the market and how fast is it growing?
Various research companies have published data that estimates the size of the Low-Code/No-Code market and its forecasted growth. Below, you will find a compilation of this data from several different research companies. We have only included articles and reference data from 2020 and later.
Note that these articles typically combine figures for Low-Code and No-Code platforms together. Since the Low-Code market is more mature and currently larger than No-Code, these figures often refer to Low-Code explicitly.
- “The worldwide low-code development technologies market is projected to total $13.8 billion in 2021.” (Gartner, February 16, 2021)
- “The global low-code development platform market size is projected to grow from USD 13.2 billion in 2020 to USD 45.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 28.1% during the forecast period.” (Markets and Markets, April 2020)
- “Global Low-Code Development Platform Market is valued at USD 12.85 Billion in 2020 and expected to reach USD 65.15 Billion by 2027 with a CAGR of 26.1% over the forecast period.” (Brandessence Market Research, March 9, 2021)
- “The Global Low-Code Development Platform Market size is expected to reach $46.4 billion by 2026, rising at a market growth of 25% CAGR during the forecast period.” (KBV Research, June 2020)
- “The global low-code development platform market is predicted to generate a revenue of $187.0 billion by 2030, rising from $10.3 billion in 2019, and is expected to advance at a fast pace, 31.1% CAGR, during the forecast period (2020-2030).” (Research and Markets, November 10, 2020)
- “The global low-code application development platform market size was valued at USD 11.45 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 22.7% from 2020 to 2027.” (Grand View Research, August 2020)
- “The global market size of Low-Code Development Platform reached 4320.0 million $ in 2020, of what is about 1430.0 million $ in 2015.” (Market Reports World, February 15, 2021)
- “The global market for Low Code Development Platform estimated at US$12.8 Billion in the year 2020, is projected to reach a revised size of US$125.8 Billion by 2027, growing at a CAGR of 38.6% over the period 2020-2027. (StrategyR, April 2021)
- “Global Low-Code Development Platform Market was valued US$ 6.5 Bn in 2019 and is expected to reach US$ 80.30 Bn by 2027, at a CAGR of 43.21 % during a forecast period.” (Maximize Market Research, April 2021)
These numbers show quite a bit of variability since each outlet uses different methodologies, assumptions, and data sets. Instead of picking one data set over the others, we decide to combine all of the data, assuming equal weight, and calculate their ranges and averages by year.
The chart below shows the estimated market size in US$ billion by year from each study. The estimated market size is between US$13.3 and 17.7 billion in 2021 and it is projected to grow to US$ 58.8 - 125.4 billion in 2027.
As expected, the numbers start showing larger variability the further out the prediction.
We also calculated averages by year. The average forecasted market size is expected to grow from US$ 16.1 billion in 2021 to US$ 84.8 billion by 2027, at a CAGR of 31.9 %.
Below is the range and average values of the data from the studies listed above.
Market Size (US$ billion)