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
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| Rapid Application Development Market |
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.
Browse an in-depth TOC on "Global
Rapid Application Development Market"
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.
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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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