Global Rapid Application Development Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028

Global Rapid Application Development Market: Overview

"The Rapid Application Development Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

Rapid application development is also widely known as rapid application building, it is a process of software development. Software development is the process of writing specific code and maintaining it. The code depends on the client’s requirement; this may vary per requirement. The software development process includes performing some tasks such as specifying, conceiving, programming, designing, bug fixing, testing, and documenting. Rapid application development has a specific approach, it put fewer efforts to make planning of application development and more effort on the adaptive process.

Global Rapid Application Development Market: Dynamics

Increasing focus towards improvement in processes and performance of various enterpriser has resulted in increased support for rapid application development, a major factor estimated to boost growth of the global rapid application development market.

In addition, there are no specific criteria to implement an application, anyone can create using drop and drag functionality, whether he/she is coder of non-coder, thus in turn expected to boost adoption of rapid application development process. This is major factor anticipated to fuel growth of the global rapid application development market.

Moreover, technological improvement and growing trend of bring your own device are factors anticipated to drive growth of the global rapid application development market. Furthermore, services such as platform as a service as well as infrastructure as a service endorse rapid application development process is additional factor estimated to fuel growth of the global rapid application development market.

Increasing usage cloud technology, rising numbers of consumers and high adoption of rapid application development process by various enterprises in order to fulfill customer needs are factors estimated to boost growth of the global rapid application development market.

However, fewer features are offered by the applications made using this process, this is due to having less time to develop application. This is a factor estimated to hinder growth of the global rapid application development market. In addition, lack of highly skilled professionals is another major factor anticipated to hinder growth of the global rapid application development market.

Global Rapid Application Development Market: Segment Analysis

Among type segments, the no-code development platform segment is estimated to account for largest revenue share in the global rapid application development market. This no-code development platform segment allows user to develop an application coupled with easy deployment, without having a proper language knowledge are factors anticipated to boost revenue growth of this segment in global target market.

Global Rapid Application Development Market: Region Analysis

North America market is estimated to account for highest revenue share in the global rapid application development market. Technological advancements in some countries of this region especially the US and Canada is a major factor anticipated to drive growth of the global rapid application development market in North America. In addition, presence of well-established key players and high spending capacity on the software sector are other factors estimated to fuel growth of the target market in North America.

Global Rapid Application Development Segmentation:

Segmentation by Type:

• Low-code Development Platform
• No-code Development Platform

 Segmentation by Component:

• Tools
  • Mobile Based
  • Web-Based
  • Desktop-Based
  • Server-Based
• Services

Segmentation by Business Function:

• Sales & Marketing
• HR & Operations
• Finance and IT

Segmentation by Deployment:

• Cloud
• On-premises

Segmentation by Vertical:

• BFSI
• Automotive
• Retail
• IT & Telecom
• Government
• Healthcare

 Segmentation by Region:           

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa