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$46.2 Bn Rapid Application Development Market by Type, Tool, Business Function, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023
DUBLIN, Feb. 26, 2019 /PRNewswire/ -- The "Rapid Application Development Market by Type (Low-code and No-code), Tool (Mobile-based, Web-based, Desktop-based, and Server-based), Business Function, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global rapid application development market to grow from USD 7.8 billion in 2018 to USD 46.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 42.9% during the forecast period.
The key factors driving the rapid application development market include rising need for customized applications and expanding BYOD into enterprise have changed the mobile landscape, thus accelerating the adoption of rapid application development. Furthermore, the growing accessibility to business applications, services, and data on-the-go is a major factor for growing business mobility.
Utilization of advanced technologies, such as Cloud, Internet of Things (IoT), big data and analytics, mobility, and social media, leading innovation and thereby eliciting a positive growth in the business ecosystem
Enterprises have started incorporating big data and BI to obtain real-time information, gain actionable insights, understand customer requirements, and facilitate growth in their overall productivity. This has led to an increase in demand for digital transformation solutions in various industry verticals. The rise in digital transformation has led organizations to meet the need of clients instantly, and is one of the major factors leading to the growing adoption of cloud based RAD tools.
Flexibility to customize solutions as per an organization's dynamic requirements along with security and privacy, is driving implementation of RAD for sales and marketing solutions
RAD applications are scattered across diverse business functions that are designed to replenish the unique demands of the business segments. RAD platforms help create various applications to analyze marketing initiatives and measure the performance of key metrics, such as market attribution, RoI, and ad-campaign effectiveness. Sales organizations reap the benefits of RAD platforms by developing applications to implement the best practices for customer service and monitor the performance of the sales force.
SMEs in APAC have realized the benefits of cloud computing and are migrating their applications to cloud to drive business results and improve their efficiency and productivity
The growing existence of large enterprises, increasing technical expertise, application modernization, enhanced services, and expanding cloud based service providers are some factors that is leading to tremendous growth in the APAC region. China, Japan, India, and Singapore are major countries in the region to adopt the latest technologies. Being a growing market with a reliable workforce, the rapid application development vendors have shown their interest in establishing the market in this country. Also, the robust growth of the industrial and manufacturing sectors in this region and the need to eliminate repetitive tasks are also expected to contribute to the growth of the market in this region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Rapid Application Development Market
4.2 Market By Deployment Model, 2018
4.3 North America Market, By Component and By Type
4.4 Market Share Across Regions
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need for Rapid Customization and Scalability
5.2.1.2 Enterprise Mobility to Drive the Adoption of Smartphones in Businesses
5.2.1.3 Elimination of Gaps in the Required IT Skills
5.2.2 Restraints
5.2.2.1 Dependency on Vendor-Supplied Customization
5.2.3 Opportunities
5.2.3.1 Growing Digital Transformation in the IT Industry
5.2.4 Challenges
5.2.4.1 Legacy Software in Need of Upgradation
5.3 Use Cases
5.3.1 Use Case # 1: Enhancing the Legacy System to Deliver Faster Business Transactions and Reduce Costs
5.3.2 Use Case # 2: Enhancing the Agile Approach for Higher Customer Satisfaction
5.3.3 Use Case # 3: Green-Screen Legacy System's Transformation to Modern Web-Based Applications
5.4 Regulatory Implications
5.4.1 Payment Card Industry Data Security Standard
5.4.2 Health Insurance Portability and Accountability Act
5.5 Future Outlook
5.5.1 Application Development With Advanced AI, ML, and Automation
6 Rapid Application Development Market, By Type
6.1 Introduction
6.2 Low-Code Development Platforms
6.2.1 Organizational Need to Develop Customer-Centric Applications
6.3 No-Code Development Platforms
6.3.1 No-Code Development Platforms to Benefit Non-Developers in Designing Applications Without Coding
7 Rapid Application Development Market, By Component
7.1 Introduction
7.2 Tools
7.2.1 Mobile-Based
7.2.1.1 The Increase in the Number of Mobile Device Users Calls for More Mobile-Based Applications
7.2.2 Web-Based
7.2.2.1 Increasing Automation and Advancements in Technologies, Such as IoT, AI, and ML
7.2.3 Desktop-Based
7.2.3.1 Increasing Demand for Simplifying the Development Process to Streamline IT Operations
7.2.4 Server-Based
7.3 Services
7.3.1 Professional Services
7.3.1.1 Support and Maintenance
7.3.1.1.1 The Need for Technical Support and Assistance
7.3.1.2 Deployment and Integration
7.3.1.2.1 The Need to Integrate Vendors' Systems and Customers' Systems With Minimum Deviations to Meet the Requirements
7.3.1.3 Consulting
7.3.1.3.1 The Benefit of Improving the Performance of the Deployed RAD Platforms
8 Rapid Application Development Market, By Business Function
8.1 Introduction
8.2 Sales and Marketing
8.2.1 Increasing Need to Build Applications
8.3 HR and Operations
8.3.1 The Need to Maintain A Record of Operational Activities, Employees' Attendance, and Their Involvement in Other Departments
8.4 Finance
8.4.1 The Need to Streamline Accounting Processes and Procedures, Payrolls, Travel and Reimbursements, Tax, and Budget, and Reporting Applications
8.5 IT
8.5.1 The Increasing Need for File Sharing, Data Security and Storage, Email and Collaboration, and Infrastructure and Network Management Applications
9 Rapid Application Development Market, By Deployment Model
9.1 Introduction
9.2 Cloud
9.2.1 Scalability, Flexibility, and Reliability Benefits
9.3 On-Premises
9.3.1 Need for Highly Secure Operating Environment
10 Rapid Application Development Market, By Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.2.1 The Need for Cost-Effective Solutions to Meet Budgets and Lead to Business Growth
10.3 Large Enterprises
10.3.1 The Need to Manage Huge Heaps of Accumulated Data Over A Public Or Private Cloud
11 Rapid Application Development Market, By Industry Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.2.1 The Need to Deliver Enriched Customer Experience Using New Financial Products and Services
11.3 Manufacturing and Automotive
11.3.1 The Need to Face Challenges in Quickly Delivering Goods
11.4 Retail and Consumer Goods
11.4.1 The Need to Understand Real-Time Customers' Behavior for Improving Decision-Making Skills
11.5 Telecommunications and IT
11.5.1 Organizations' Need for Many Application Development Solutions
11.6 Government and Public Sector
11.6.1 Rapidly Digitizing Governments and Increasing Need for Web- and Mobile-Based Applications
11.7 Healthcare
11.7.1 The Need for Applications That Monitor Patients' Condition and Related Critical Information
11.8 Media and Entertainment
11.8.1 The Need to Exponentially Increase the Popularity of Media and Entertainment Creates A Need for New Applications
11.9 Education
11.9.1 Increasing Adoption of Online Education Creates Opportunities for Mobile- and Web-Based RAD Platforms
11.9.2 Others
12 Rapid Application Development Market, By Region
13 Competitive Landscape
13.1 Competitive Leadership Mapping
13.1.1 Visionaries
13.1.2 Innovators
13.1.3 Dynamic Differentiators
13.1.4 Emerging Companies
13.2 Strength of Product Portfolio
13.3 Business Strategy Excellence
14 Company Profiles
14.1 Microsoft
14.2 AWS
14.3 Oracle
14.4 IBM
14.5 Google
14.6 Salesforce
14.7 Appian
14.8 Zoho Corporation
14.9 Kissflow
14.10 Outsystems
14.11 Mendix
14.12 Lansa
14.13 Kony
14.14 ORO
14.15 Matssoft
For more information about this report visit https://www.researchandmarkets.com/research/nj6c9d/46_2_bn_rapid?w=5
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