Global Application Development Software Market; By Type (Low-code Development Platforms, No-Code Development Platforms); By Deployment Mode (On-Premise, Cloud); By Organization Size (Small & Medium Enterprise, Large Enterprise); By Application (BFSI, Media & Entertainment, and Others), as well as By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast: 2023-2032

Report Overview

The Global Application Development Software Market size is expected to be worth around USD 1152.15 billion by 2032 from USD 161.66 billion in 2022, growing at a CAGR of 21.7% during the forecast period 2022 to 2032.

The market will grow on account of the rising demand for software applications that can be used to automate and simplify business operations. Application development software is expected to gain steady momentum over the next few years due to the increasing demand for customizable and scalable software. Many doctors and health workers have started to offer their services online due to increasing awareness of the COVID-19 virus. This will also likely contribute to further market expansion.

Market Dynamics:

Global lockdown restrictions have resulted in the temporary closures of many offices, manufacturing plants, and media houses. However, market growth is expected to be complemented by the increased demand for software applications by media, entertainment, IT & telecom companies.

App development software allows users to create and customize advanced applications based on their needs. These apps can be run on multiple computers, smartphones, and digital gadgets. They make it possible to accomplish a task quicker and more efficiently. Applications can be used to generate sales reports, schedule appointments, calculate monthly expenditures and automate business processes. In the next few years, market growth will be supported by the increasing demand for cloud computing among small, medium, and large-scale organizations.

Application development software allows companies to create software products that can be used on both desktop and mobile devices. It helps these organizations to reach mass audiences and cater to different user needs. These software products require vast technical skills such as code assistance tools, mobile development, integration, development tools, and application programming interface (API) testing in order to meet customer expectations. It helps users manage complicated operations efficiently, at a speedy pace, and at minimal costs. It can be used to automate robotic automation, and allow end-users feedback for improved business alignments.

Global Application Development Software Market Scope:

Type analysis

The application development Software Industry can be divided into low-code and no-code platforms based on their type. The market’s low-code sub-segment was dominant and accounted for more than 60.3% in 2021. Segment growth was driven by the rapid rise in digital transformation within the IT and telecom industries, the rising need for scalability, customization, and improved responsiveness to the business. IT professionals and businesses can use the low-code platform to develop software and business application codes with a graphical user interface approach rather than traditional computer programming.

The highest expected CAGR for the no-code development platform market is 25.4%. This forecast period will index this segment’s growth at the fastest rate. The increasing availability of no-code development platforms like Quixey, WordPress, Wix, and Nintex Process Platforms has fueled this segment’s growth. These platforms make it possible to design and develop applications without the need for programming code. These platforms provide pre-defined tools that allow developers to efficiently create applications.

Deployment Mode analysis

According to the deployment type, this market can be further segmented into cloud and on-premise. In 2021, more than 53.2% of the overall market was accounted for by the on-premise segment. The software, solution, and delivery models used in on-premise deployment can be installed from a company’s own server and infrastructure. On-premise deployment helps IT departments identify and fix any bugs or other errors in a system. Vast amounts of data are generated by many companies due to increasing digitization, IT servers, and clickstreams.

The cloud segment growth is expected to be at 26.6% between 2023 and 2032. Cloud service adoption has been growing by large enterprises and SMEs. It offers benefits like zero infrastructure setup costs and the instant availability of computing services. Cloud services have many benefits, including better workload management, and efficient incorporation into the DevOps teams.

Organization Size Analysis

In 2021, 54.9% of this market’s share was accounted for by large enterprises. Large enterprises are able to tap into new revenue streams and build a network of corporate contacts, which can help them adopt new technologies and solutions. This allows these businesses to choose the right software for their clients because of their extensive corporate networks. These companies prefer to provide their solutions and services on-site. These companies can maintain data confidentiality and privacy by using data on-premise. All of these factors are expected to support this segment’s growth over the forecast timeline.

The CAGR of the small and mid-sized enterprises segment is predicted to reach 27.0% over the forecast period. Application development software helps SMEs prioritize their work, increase visibility, and improve collaborations between organizations. This forecast period will also index the revenue growth factors of this segment due to the rising number of SMEs in both developed and underdeveloped economies.

Application analysis

BFSI, media entertainment, healthcare, tourism, as well as IT & telecommunication, among other segments make up this market. In 2021, more than 28.9% was attributed to the media and entertainment applications segment. Media and entertainment can include data collection, data processing, and data management. Segment growth will be supported by an increase in the adoption of OTT platforms as well as increased viewer screen time due to imposed lockdowns.

Between 2023 and 2032, the IT & telecom segment is expected to grow at a CAGR of 27.2%. The forecast period will register segment growth due to the increased demand for custom services and solutions in the telecom & IT industry, and the increase in the number of tech-savvy people and IT professionals around the globe.

Кеу Маrkеt Ѕеgmеntѕ:

By Type

• No-Code Development Platforms
• Low-Code Development Platforms

By Deployment Mode

• Cloud-Based
• On-Premise

By Organization Size

• Small & Medium Enterprises
• Large Enterprises

By Application

• BFSI
• Healthcare
• Travel & Tourism
• Media & Entertainment
• IT & Telecom
• Others

Regional Analysis

North America dominated this market and accounted for over 38.2% of global revenues for 2021. It is home to numerous internet users as well as exposure to various technological innovations. According to World Bank data, US internet users made up 86.4% of the nation’s total population. It is also expected that this market will grow due to the presence of several prominent players, such as Salesforce.com Inc., and Oracle Corporation.

The Asia Pacific market is expected to grow at a 25.6% annual growth rate between 2023 and 2032. Over the forecast period, this region’s market growth will be driven by an increasing number of IT companies and manufacturing units as well as a surge in tech-savvy urban populations across several countries.

Key Regions and Countries Covered іn This Rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

The global application development software market is fragmented. Leaders are focused on launching new products, joint ventures, and contracts, as well as partnerships, to build up their respective market position. In October 2019, Zoho Corporation launched Catalyst. It’s a serverless full-stack developer platform that allows developers to create and manage microservices and applications. The following are some of the major players in this global market for application development software:

Маrkеt Кеу Рlауеrѕ:

• Oracle Corporation
• Fujitsu Ltd.
• HCL Technologies
• Wipro Ltd.
• Zoho Corporation
• Joget Workflow
• GitLab
• Alice
• Other Key Players

For the Application Development Software Market research study, the following years have been considered to estimate the market size: