Global rapid application
development (RAD) market is expected to grow at a double-digit CAGR during the
forecast period, on account of increasing demand for faster customer programming.
Rapid application development or rapid application building is a highly
interactive application development approach that helps build software
applications rapidly. In RAD, coders as well as non-coders can create
applications with the help of simple drag and drop functionality, thereby propelling
market growth. Now a days, enterprises are focusing on optimizing performances
and processes, which in turn is promoting the rapid application development
market. Infrastructure as a Service, Platform as a Service and technological
advancements are aiding market growth. Moreover, trend of bring our own device
(BYOD) is expected to positively influence the market during forecast period.
Rapid application development market
can be segmented based on type, component, business function, deployment,
organization size and vertical. In terms of type, the rapid application
development (RAD) market can be classified into low-code development platform
and no-code development platform. No-code development platform is gaining
traction, as it allows both tech-savvy as well as non-coders to develop
applications using the drag and drop method. Moreover, no-code development
platform is easy to deploy and does not require any expertise in any
programming language. Based on the business function, the market can be
segmented into sales & marketing, HR & operations, finance and IT.
Sales & marketing segment is reaping the benefits of rapid application
developing by implementing RAD to monitor the performance of sales force and
improve the customer service, thus accounting for the largest market share.
Rapid application development market can be deployed on-premise and cloud. Due
to flexibility, scalability and reliability, organizations are adopting cloud
deployment mode for rapid application development.
In 2018, North America dominated
the market and is expected to maintain its leading position in the coming
years, as countries, such as Canada and the US are increasingly adopting
advanced technologies, backed by the presence of leading players in the region.
Some of the main players operating
in global rapid application development market are IBM Corporation, Intel
Corporation, Microsoft Corporation, Google LLC, Zoho Corporation, Amazon Web
Services, Inc., Oracle Corp., Salesforce Inc., Mendix and Lansa. Major
companies are developing advanced technologies and launching new products in
order to stay competitive in the market. Other competitive strategies include
mergers & acquisitions and new product developments. In 2018, Zoho Corp.
launched two new products, Zoho PageSense and Zoho Flow, to simplify operations
for the organizations.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the
Study:
- To analyze and forecast global rapid
application development market size.
- To classify and forecast global rapid
application development market based on type, component, business
function, deployment, organization size, vertical and regional
distribution.
- To identify drivers and challenges for global
rapid application development market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in
global rapid application development market.
- To conduct the pricing analysis for global
rapid application development market.
- To identify and analyze the profile of leading
players operating in global rapid application development market.
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Some of the leading players in global rapid application
development market include
IBM Corporation, Intel Corporation, Microsoft Corporation, Google LLC, Zoho
Corporation, Amazon Web Services, Inc., Oracle Corp., Salesforce Inc., Mendix,
Lansa, etc.
TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of service providers across the globe. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include the service providers which
could not be identified due to the limitations of secondary research. TechSci
Research analyzed the service offerings, distribution channels and presence of all
major service providers across the globe.
TechSci Research calculated global rapid application development market using a bottom-up approach, where data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases, company
annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Rapid application
development service providers and end users
- Research organizations and
consulting companies
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to rapid application development
The study is useful in providing answers
to several critical questions that are important for industry stakeholders such
as service providers and partners, end users, etc., besides allowing them in
strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global rapid application
development market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Market, by Type:
- Low-code development platform
- No-code development platform
- Market, by Component:
- Tools
- Mobile based
- Web-based
- Desktop-based
- Server-based
- Services
- Market, by Business Function:
- Sales & Marketing
- HR & Operations
- Finance and IT
- Market, by Deployment:
- Market, by Organization Size:
- Market, by Vertical:
- BFSI
- Automotive
- Retail
- IT & Telecom
- Government
- Healthcare
- Others
- Market, by Region:
- North America
- United States
- Mexico
- Canada
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Qatar
Competitive
Landscape
Company Profiles: Detailed analysis of the
major companies present in global rapid application development market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market
players (up to five).
In case you don’t find what you are
looking for, please get in touch with our custom research team at sales@techsciresearch.com
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