As businesses continue to look for ways to automate business processes and expand the number of employees capable of implementing intelligent automation beyond IT personnel to business line staff, low-code development technologies are growing fast, according to a new report.
Stamford, Conn.-based research firm and consultancy Gartner predicts the worldwide market for low-code software will grow nearly 20 percent from 2022 to 2023 to $26.9 billion. The company attributes the growth next year and beyond to an increasing number of business technologists (tech buyers and developers embedded in business units rather than IT) and a growing number of companies turning to hyperautomation initiatives.
“Organizations are increasingly turning to low-code development technologies to fulfill growing demands for speed application delivery and highly customized automation workflows,” said Varsha Mehta, senior market research specialist at Gartner. “Equipping both professional IT developers and non-IT personas—business technologists—with diverse low-code tools enables organizations to reach the level of digital competency and speed of delivery required for the modern agile environment.”
The report, titled Forecast Analysis: Low-Code Development Technologies, Worldwide ($), predicted sales of low-code RPA software will reach nearly $4 billion in 2023.