The Low-Code And No-Code Market Just Won’t Stop Growing
Updated: Nov 23, 2021
A monthly news recap
More and more people are joining the No-Code and Low-Code (NCLC) movement and realizing the advantages in workflow automation, MVP building and increasing productivity.
In this article, we will look at how the Low-Code market will grow, how employees view the current atmosphere surrounding NCLC in their companies and what investments have been done within this space.
How The Low-Code Market Will Grow
The latest prognosis by Gartner Inc. projects the Low-Code development market is to reach a total of 13.8 billion US Dollars in 2021. That’s a 23% increase compared to 2020.
Gartner Inc. names a few reasons for the surge in Low-Code application platforms (LCAP).
Most of the major software-as-a-service (SaaS) vendors enable the incorporation of Low-Code development technologies. As SaaS grows in popularity so will the Low-Code market rise in Low-Code application platforms.
Furthermore, business technologists show an increased willingness in automating their business applications and workflows. This so-called hyperautomation, defined as the utilization of advanced technologies including AI for process automations, is going to be a main driver for Low-Code adoption through 2022. All in all, Gartner Inc. predicts that most companies will use various Low-Code tools in some shape or form by the end of 2021.
Moreover, Gartner predicts that Low-Code will be responsible for more than 65% of application development activity by 2024. One of the reasons is that Covid-19 increased the pressure to digitally transform companies, which resulted in an accelerated need for faster development and individual software solutions.
How Low- and No-Code Impacts Employees
Recently, TechRepublic conducted a survey with around 414 respondents from different companies, disciplines and job functions. They were questioned if their companies already use Low-Code and No-Code platforms, what benefits or threats come with them and what future implications NCLC platforms might have.
Key takeaways of the survey:
47% of companies currently utilize NCLC platforms
20% plan on utilizing them in the next 12 months
17% use it for workflow automation
15% for application creation
15% see an increase in their productivity
14% see a decrease in application development time
More than half of the survey respondents do not think Low- and No-Code platforms cause developer job loss!
Recent No-Code and Low-Code Investments
The market is growing and the demand for software solutions is increasing. Business angels and VCs are also noticing this trend and are increasingly investing in this branch.
Softbank invests in Pipefy
The Softbank Latin America Fund wagered on a Brazilian-based company named Pipefy and invested 50 million US Dollars during its Series C funding round. Pipefy’s raised around 137 million US Dollars with Steadfast Capital Management, Insight Partners, and Redpoint jumping on board as well. If you haven’t heard of them, Pipefy is a startup specialized in Low-Code workflow management with the ability to automate a variety of processes such as employee onboarding, purchasing, and IT service requests.
Heyflow raised 6 Mio funding
In another major funding round Heyflow, a German startup, raised 6 million US Dollars through angel investors, Project A and Atlantic Lab. Heyflow provides companies with software that helps them design and integrates interactive flows. Companies can apply these flows into their marketing and or advertising campaigns in order to increase their conversion rates and improve their users' experiences. Besides them, Bubble also received large funding of $100M some months ago.
Conclusion
The No- and Low-Code movement is on the rise. The market is estimated to grow by 23% in 2021 and it seems like this growth won’t stop in the near future. TechRepublics’ survey showed us that half of the respondent companies already integrate No- and Low-Code tools and 20% are going to do the same in the next 12 months. Moreover, the media starts noticing NCLC more and more. Either in writing about it such as Forbes or Business Insider or investing in it such as Softbank or other VC’s. We see no end to it - and this is quite a good thing.
Questions?
Whether you are looking for the right NCLC software solution for your company or a NCLC vendor that needs more awareness, feel free to reach out to us via email or schedule a meeting with us. If you have feedback, ideas or just want to talk about those topics feel free to reach out as well!
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