Albany, NY -- (SBWire) -- 12/06/2018 --Highly fragmented, yet full of promises, the global low code development platform market is forecast to report exponential growth in the coming years. Google Inc. is one of the recent players to join the bandwagon. In December 2016 they announces a flurry of low-code solutions for developers. With this, they joined OutSystems besides other vendors who identified and acknowledged the daily struggles of IT teams with regards to resources challenges and huge backlogs. "With IT organizations exploring novel and better means of delivering apps faster, the market is expected to show impressive growth in the near future," said a lead TMR analyst. As a result of this, the global low code development platform is booming and Transparency Market Research (TMR) predicts it to reach a whopping US$126,638.0 Mn by the end of 2025.

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During the forecast period from 2017 to 2025, the global low code development platform market will exhibit a record 54.5% CAGR, finds TMR in a new study. While North America currently holds dominance, in no time the market players will discover lucrative prospects in emerging nations across emerging nation. As per TMR, the North America low code development platform market held over 40% of the global market in 2016. Based on deployment, trends are tilted in favor of cloud-based deployment, which accounted for nearly 55% of the overall market in the same year.

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In addition, low code development platforms provide a unique communication mechanism to support IT businesses and stakeholders. In doing so they ensure more effective communications and improved software quality. Recent studies have revealed that app development has outgrown the market for information and communication technologies in the last couple of years. Experts believe this growth to accelerate further in the coming years, in turn creating lucrative prospects for the global low code development platform market's expansion.