North America to Dominate Global Rapid Application Development Market till 2024

Technological advancements and adoption of rapid application development in various industries, such as BFSI, IT & telecom and healthcare to drive global rapid application development market through 2024

According to TechSci Research report, “Global Rapid Application Development Market By Type, By Component, By Business Function, By Deployment, By Organization Size, By Vertical, By Region, Competition, Forecast & Opportunities, 2024”, global rapid application development market is expected to register growth during the forecast period, due to rising demand for customized applications and expanding BYOD trend in enterprises. Rapid application development (RAD) helps to save money and time for the company by developing applications with low- or no-coding knowledge, thereby aiding market growth. 

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Rapid application development market, globally, can be segmented based on type, component, business function, organization size, deployment, vertical and region. Based on the type, the market can be bifurcated into low-code development platform and no-code development platform. No-code development platform is expected to grow at the fastest rate during the forecast period, owing to ease of deployment, capability of integration with existing infrastructure and ease of use. Based on business function, the market can be segmented into HR & operations, finance and IT and sales & marketing. HR & operations segment is harnessing the power of rapid application development for maintaining record of employees’ attendance and other operational activities.

Rapid application development market, globally, can be segmented based on type, component, business function, organization size, deployment, vertical and region. Based on the type, the market can be bifurcated into low-code development platform and no-code development platform. No-

code development platform is expected to grow at the fastest rate during the forecast period, owing to ease of deployment, capability of integration with existing infrastructure and ease of use. Based on business function, the market can be segmented into HR & operations, finance and IT and sales & marketing. HR & operations segment is harnessing the power of rapid application development for maintaining record of employees’ attendance and other operational activities.

IBM Corporation, Intel Corporation, Microsoft Corporation, Google LLC, Zoho Corporation, Amazon Web Services, Inc., Oracle Corp., Salesforce Inc., Mendix and Lansa are among the leading players operating in global rapid application development market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. In 2018, Microsoft partnered with AI and IoT software platform provider C3 IoT to boost the adoption of AI, cloud computing and IoT.

“North America dominates global rapid application development market, on account of presence of leading players in the region and growing investments in data management solutions by countries such as the US and Canada. Asia-Pacific rapid application development market is expected to register growth during the forecast period, owing to several strategic partnerships and acquisitions by companies in the region and increasing digitization and regulatory mandates.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Rapid Application Development Market By Type, By Component, By Business Function, By Deployment, By Organization Size, By Vertical, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global rapid application development market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global rapid application development market.

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