Low- code development tools can help companies improve customer experience and operational efficiency. The low-code market is expected to reach $ 10 billion in revenue by 2019, as the technology helps solve productivity problems, such as project delays and a lack of qualified resources.
Forrester Research estimates that total spending in this category will reach $ 21.2 billion by 2022, representing a compound annual growth rate of approximately 40%.
These tools are not yet known to most IT managers. But these tools are not only cost-effective, but low-code platforms offer the benefits of speed, flexibility to meet customer needs, and the ability to streamline business processes. OutSystems is one leading platform that helps to deploy the concept of low code in a sophisticated manner.
Factors That Make Low-Code Development A Preferred Choice
With low-code trend, organizations can implement changes sustainably. It’s fast and meets company requirements in no time. For an organization, they have the opportunity to test things and get things done quickly. It is a product that allows people to have a better quality of life, and anything that helps to happen soon will be useful.
One of the most obvious reasons why you choose low-code platforms is that less code means lower costs. Imagine that a traditional custom application for a large company takes six months to develop and costs a million dollars. When applying the low code approach, this can be reduced to a few months and $ 50 to $ 100,000.
This is good news for companies, but also suitable for developers. This eliminates intermediaries, and, although they earn less income, they also use far fewer resources and come first. And, let’s face it, it’s even more fun, because it prevents developers from getting stuck in the same project.
Less code means fewer errors. The bug testing phase is an integral part of modern application development, and even then, problems will inevitably spread if there is enough code. But the good news about low-code platforms is that there is less to test, and when using APIs, these APIs have been tested by others.
Fewer errors are good news for users and developers, as less time is spent troubleshooting and correcting errors. The fast pace of low code development means that if a bug is detected, it is usually better to create a whole new iteration than to stick a metaphorical basis on it.
The less code an application uses, the less bandwidth is required to download and run it. This is good news for people in rural or developing countries, where access to the Internet is not as widespread as in the United States.
Also, because low-code applications can be much more comfortable than traditional applications, they can be published more rapidly and at a low cost. This will help increase the acceptance of your apps as it reduces the entry barrier for everyone, from low-income families to start-up entrepreneurs.
Almost 90% of IT managers believe that the flexible design of low-code platforms significantly improves the customer experience compared to traditional development platforms, according to Forrester
Concluding the point,
The focus on specific functional needs and branches in companies is the key to standing out from the crowd. Business intelligence tools and collaboration management software are two areas where investing in venture capital has the power to drive significant growth.
In this fast paced development trend, Panacea Infotech is one of the leading partner low-code and OutSystems development. Our expertise in agile development has empowered us to enable businesses with most efficient low code solutions.
Contact us today!