Published: 24 May 2024
The market for low-code application platforms is growing rapidly but it is very competitive and buyers’ expectations are changing. Product managers can look to composable architectures, generative AI and integration catalogs to create an innovation advantage over existing market participants.
The low-code application platform (LCAP) market is forecast to be $16.5 billion by 2027 with a compound annual growth rate (CAGR) of 16.3% from 2022-2027, creating a growth opportunity for current vendors and new market entrants.
Differentiation in the LCAP market is challenging, with a growing list of hundreds of providers offering stand-alone products or low-code functional extensions to their core enterprise offerings.
Many existing LCAPs lack composable product architectures, generative AI (GenAI) capabilities and integration catalogs, all of which are increasingly expectedby enterprise LCAP buyers, providing opportunities for current or new LCAP vendors to differentiate their products.
Product managers evaluating
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