According to Gartner, low-code development technologies will take a big leap forward in 2023 as organizations look to speed up application delivery and highly customized automation workflows.
The IT analyst firm says the global market for low-code development will reach nearly $27 billion in 2023, a jump of 19.6% from 2022. This is due to a rise on business technologists and a growing number of enterprise-wide hyperautomation and composable business initiatives, which Gartner says will be key drivers of the adoption of low-code technologies through 2026.
“Equipping both professional IT developers and non-IT personas — business technologists — with diverse low-code tools enables organizations to reach the level of digital competency and speed of delivery required for the modern agile environment,” says Varsha Mehta, senior market research specialist at Gartner.
The firm says low-code application platforms (LCAPs) are projected to be the largest component of low-code development and are expected to grow 25% and reach nearly $10 billion in 2023.
LCAP is the largest market segment, but Gartner also identifies citizen automation development platforms as another fast-growing area, with growth projected at 30.2% for 2023. Use cases include automating workflows, building web-based forms, bridging data and content across multiple SaaS apps and creating reports and data visualizations.
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According to Jason Wong, a distinguished vice president analyst at Gartner, the growing cost of tech talent and an expanding hybrid workforce will contribute to low-code technology adoption.
“Empowered by the intuitive, flexible and increasingly-powerful features of low-code development tools, business technologists and citizen technologist personas are developing lightweight solutions to meet business unit needs for enhanced productivity, efficiency and agility — often as fusion teams,” Wong says.
In fact, developers outside of traditional IT departments will account for at least 80% of the user base for low-code development tools, which is up from 60% in 2021, Gartner predicts.
In addition, global spending on hyperautomation technologies will reach $720 billion this year as organizations look to combat rising operational optimization demands, a growing skills gap and economic pressures, the firm predicts.
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