An Overview of the Low-Code/ECM/DX Market in 2024
Published: 2024-01-18 08:20:55


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In the fast-paced tech world, businesses are constantly searching for innovative solutions to position themselves as a market leader and stay ahead of the competition. Today, many state-of-the-art technologies are rapidly shaping tech business transformation. 

One technology that is making waves in the world of application development is Low Code.

As the demand for new software and applications skyrockets in our modern tech era, [Low Code platforms](https://newgensoft.com/platform/low-code-application-development/) have become an increasingly popular development method in business globally. 
This tool enables businesses to build custom software applications, boost productivity, and become more agile, data-driven and digitally ready. 

As we enter 2024, the Low-Code/ECM/DX market has emerged as a key player, promising to revolutionize how we develop, manage, and optimize digital experiences. 
So, how does this dynamic landscape look, and what trends are [shaping its future](https://hk.newgensoft.com/blog/low-code-platform-future-of-application-development/)? Let's explore.

**Recent Stats: Unleashing the Power of Low-Code Technologies**

The adoption rate of low-code platforms is increasing by leaps and bounds, with organizations recognizing the [value](https://newgensoft.com/blog/5-business-values-you-can-unlock-with-low-code/) of rapid application development and streamlined processes. These stats underscore the increasing promise and potential of low-code technologies.

- By 2030, the global low-code/no-code development platform market is expected to generate USD 187 billion in revenue. ([GlobeNewswire](https://www.globenewswire.com/news-release/2020/11/10/2123468/0/en/Global-187-Billion-Low-Code-Development-Platform-Market-to-2030.html))
- No-code and low-code platforms help reduce app development time by 90% ([Redhat](https://www.redhat.com/rhdc/managed-files/mi-451-research-intelligent-process-automation-analyst-paper-f11434-201802.pdf)) 
- 96% of people have agreed to use code-free tools sometime in the future. ([Userguiding](https://userguiding.com/resources/ebooks/no-code-growth-marketing-report/))
- By 2024, 80% of non-IT professionals will develop IT products and services, with over 65% using low-code/no-code tools. ([Gartner](https://www.gartner.com/en/newsroom/press-releases/2021-06-10-gartner-says-the-majority-of-technology-products-and-services-will-be-built-by-professionals-outside-of-it-by-2024), [Adtmag](https://adtmag.com/articles/2019/08/12/gartner-lowcode.aspx))
- Compared to conventional app-building platforms, no-code solutions consume 70% fewer resources. ([Forrester](https://www.forrester.com/blogs/why-you-need-to-know-about-low-code-even-if-youre-not-responsible-for-software-delivery/))
- 84% of enterprises are using low-code or no-code technologies for digital asset development. ([Assets.appian](https://assets.appian.com/uploads/2019/03/forrester-tlp-lowcode.pdf))
- 72% of users develop apps with low-code applications in less than three months. ([Mendix](https://www.mendix.com/blog/infographic-low-code-application-development-trends/))

**What is Low Code?**

In simple terms, low-code is like a special tool that helps you create computer programs and applications without needing a lot of traditional coding. 

It's like having a shortcut to build software faster and more efficiently.

With low-code, you don't need to know much about coding to create software that fits your needs. It's like putting together puzzle pieces or using a drag-and-drop tool – you don't have to write a lot of complicated code from scratch.
Low-code lets tech companies work much faster and more flexibly than old-school software development. This helps you save money, be more successful, and get better results with your software projects.

**Key Features of Low-Code Development**

**Picture-Friendly Building**
Low-code platforms let you create things like how an app looks, what information it uses, and how it works using pictures and drag-and-drop features. You don't have to type a lot of complicated code.

**Ready-to-Use Features**
Some low-code systems come with ready-made pieces that you can use, like storage for information or parts of an app that customers see, such as tools for managing services, [document management](https://newgensoft.com/platform/document-management/) or sales processes.

**Automated Code Generation**
Low-code tools can make the computer code needed for your app automatically. This means you don't have to write all the code yourself, and it helps you finish your project faster.
Rapid Prototyping
With low-code, you can quickly make a basic app version and make changes easily. This makes it faster to get feedback and work together with others.

**Cross-Platform Compatibility**
Many low-code tools let you make apps that can run on different devices like computers, phones, and tablets.

**Security and Stability**
An excellent low-code tool needs to be safe and protect the programs you make. As your business grows, it should also handle many people using the programs, whether just a few or a whole bunch.

**Benefits of Low-Code Technology**

**Faster Time to Market**
With rapid development cycles and streamlined processes, low-code technology significantly reduces the time it takes to market a digital product or service.

**Increased Agility**
Low-code makes it easy to create and launch new apps without needing to be an expert in coding. This helps companies be more flexible and adapt to the changes they need.

**Streamlined Collaboration**
Low-code development fosters collaboration between business and IT teams, breaking down traditional silos and ensuring a more cohesive and efficient development process.

**Prevents Technical Debt**
Low-code helps avoid messy problems in the future by giving a structured way to make apps. This means fewer mistakes and better quality.

**Improved Decision-Making**
Real-time data and insights from low-code platforms empower decision-makers with accurate information, facilitating data-driven strategies.

**Rapid Prototyping and Iteration**
Low-code makes it easy to quickly create a basic version of an app and make changes fast. This helps get feedback and make improvements quickly.

**Reduced Cost**
Using low-code means businesses don't need to spend much on specialized programmers. It also helps automate repetitive tasks, saving even more money.

**Access to New Technologies**
Low-code tools help businesses update their systems easily. They can also use new and cool technologies like AI and machine learning without being too complicated or expensive. This keeps companies competitive in the fast-changing digital world.

**Low-Code Development Trends for 2024**

**Democratization of Software & App Development**
Making it easier for everyone in a company to create valuable apps, low-code platforms are changing how teams with no technical background can contribute. By using ready-made coding pieces and simple drag-and-drop tools, low-code makes it possible for you to create cost-effective and problem-solving apps.

**Intuitive User Interface (UI)**
Creating a smooth and user-friendly design is crucial for a good experience. Low-code platforms help by separating how an app looks and works from the technical stuff in the background. This allows you to build seamless and customized user experiences using different technologies.


**Low-Code Cloud Infrastructure**
Putting low-code development on the cloud (the internet) is becoming popular because it makes things faster, more flexible, and cheaper for companies. This helps teams work together easily, even if they are not in the same place, and it allows you to speed up, making apps more productive, and use the benefits of secure and scalable cloud systems.


**Integration of AI and ML in Low-Code Platforms**
Another fantastic thing is that low-code platforms are teaming up with AI and machine learning. This means that even if you're not an expert in AI, you can use it in your apps. Low-code is like a bridge connecting regular developers with AI, making adding advanced features like understanding language and predicting things simpler. 

Using AI and machine learning, developers can make smart apps that do tasks independently, use data to make decisions, and provide personalized experiences.



**Integration with Data Analytics and BI Tools**
Low-code platforms are expected to work even better with data analytics and business intelligence tools. This means developers can easily add powerful data analysis features to their apps. This will help users see, explore, and understand complex data, making it easier for companies to make informed decisions.


**Integration with DevOps and Agile Methodologies**
Low-code platforms are catching up with modern software development practices like DevOps and Agile. This means that making apps with low-code will become even smoother and more efficient. You can work together better, deliver software faster, and make sure it's high-quality.

**The Great Resignation Wave**
With many people leaving their jobs, especially in IT, companies are using low-code platforms to keep things running smoothly. This helps IT teams do many tasks quickly and efficiently, even on a large scale.

**Increased Automation**
Automation, or using machines to do tasks automatically, is a big help in making software development faster and better. [Low-code platforms](https://newgensoft.com/blog/2023-done-2024-year-of-low-code-platforms/) are expected to include more automation features. This will allow developers to focus on meaningful work while the machines handle repetitive tasks.

**Customization**
Making apps fit specific needs is essential, and low-code platforms are getting better at this. They provide more options for developers to customize apps using different pieces that can easily be added. This flexibility helps create unique and personalized user experiences, making them happy and engaged.

**Conclusion**

As we navigate through 2024, the Low-Code/ECM/DX market is a beacon of innovation, driving [digital transformation](https://newgensoft.com/blog/how-low-code-platforms-can-help-in-your-quest-for-digital-transformation/) across industries. The evolution of low-code technology accelerates development processes and empowers organizations to build robust, scalable, and future-proof solutions. 
Embracing these trends and harnessing the power of low-code development is essential for those seeking to stay at the forefront of the digital revolution. So, unlock your digital potential and embark on a transformation journey with low-code technologies.

Are you ready to transform your business operations, automate customer journeys, and streamline your processes? 
Look no further than Newgen's cutting-edge low-code application platform, [NewgenONE](https://newgensoft.com/platform/low-code-application-development/). Empower your business with speed, agility, and industry-leading solutions.