Technology has always been a disruptive factor that companies have to take into account. In the world of IT, experts have been placing their bets on low-code for being the next big disruptive factor for a long time. Today, a year into the global pandemic, the bet has become certain knowledge. Low-code has become the best strategy for companies to be able to quickly implement their digitisation plans. With shops and customer centres being closed, millions of people working from home and teams collaborating remotely, the need for digital services and customer touch points has increased sharply. It has never been more important to be a digital company.
What do market research companies say about low-code?
According to Gartner, the worldwide low-code market will grow by 23% in 2021, making it worth 13,8 billion US dollars. Forrester expects the market to grow 21 billion by 2030. The Low-Code Development Platform Market Research Report: By Offering, Deployment Type, Enterprise, Vertical – Global Industry Analysis and Growth Forecast to 2030″, published by researchandmarkets.com predicts that the market for low-code development platforms will generate a revenue of 187 billion US dollars by 2030. These are landmark figures which anticipate the direction of low-code and low-code related development in the future.
How are leaders in the field being defined?
Today, there are more than 100 vendors of low-code development platforms (LCDPs) available on the market. Every platform has its own specifications and use-cases. LCDPs consist of many different layers. For example one includes graphic modelling features, one is responsible for integrations with other services e.g. billing systems, one is the database layer, and one layer deals with the deployment of IT solutions, such as the cloud, local infrastructure, the servers, etc. The set up of an LDCP and its features define how your business can make use of the platform.
Market researchers Gartner and Forrester use a visual simplification such as a quadrant (Gartner) or a wave (Forrester) to present their findings about the most important vendors in the low-code development platform segment. The parameters that Forrester measures are strategy and offering. Gartner on the contrary evaluates the ability to execute on the strategy and the completeness of the company vision. After evaluation, these are the titles they award:
- Niche Players
- Strong performers
In the 2020 issue of the magic quadrant, Gartner has named 6 vendors as leaders:
- And ServiceNow
Forrester on the other side has named 5 companies leaders:
Who do you trust?
As mentioned earlier, the Gartner Magic Quadrant and the Forrester Wave are simplifications of more in depth research reports that are being published regularly in order to monitor the key market players. The advantage of these visualisations is that they provide complex information about very sophisticated tech tools in an easy to digest way. Regardless of whether one prefers the method of Gartner or Forrester, both mostly come to similar conclusions and positioning of the key market players. However, it should not be forgotten that the assessments of providers are carried out under more or less clinical conditions by journalists. It is for sure one of the most professional sources of truth when you are researching low-code platforms, but is it really the only one? Another interesting perspective is that of the actual user in the company. This perspective offers unfiltered insights into the daily use of the platforms by experts in the respective companies that already use them.
More software review pages:
- IT Central station
- Experts Exchange
- Whale path
- Trust Radius
In the end there are many criteria that a business has to consider when deciding for a software vendor. Most low-code vendors offer free trials to test their development platforms. Full functionality and a high number of users require a paid subscription. This subscription differs from vendor to vendor, it is therefore recommended to test each platform regarding one’s own needs and see which one would best serve your purposes. Depending on every business’ plans and requirements it is also possible to negotiate prices directly with the vendors.
Published by by Denis Fortmann
March 2, 2021