The Global Application Development Software Market size is expected to reach $551. 7 billion by 2027, rising at a market growth of 22. 3% CAGR during the forecast period. A software that helps in designing and developing various advanced apps is called application development software.
New York, Oct. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Application Development Software Market By Type, By Deployment Type, By Enterprise Size, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06177755/?utm_source=GNW
Apps developed by this software can be operated on computer devices, smartphones, and digital gadgets. This software can help in simplifying any task related to app development with more efficiency. In addition, application development software is utilized for developing news apps, games apps, music apps, and many more. These apps have the capabilities to carry out various tasks ranging from calculation of the daily & monthly expenditures to making sales reports, and scheduling appointments, which assists companies to automate procedures by improving business efficiency. The cloud-based deployment of the software is becoming more popular, which would accelerate the growth of the application development software market.
Additionally, application development software helps organizations to develop their software products such as desktop and mobile applications. This software is utilized across various industries and also needs proper knowledge to operate. There is a wide range of features offered by application development software including code assist tools, mobile development & integration, automation & workflow, development tools, development environments, feedback & analysis, APIs, and visual testing. The app assists in managing complicated operational tasks with more efficiency at reduced cost and high speed. Moreover, the app can automate various procedures included in robotic automation and also assists in collecting feedback from customers for improved business alignment and increased ROI for customer engagement with applications. Using this software can accelerate the speed of operations in the business and offer better security and management of robust architecture in the business by deploying new systems of engagement.
COVID-19 Impact Analysis
During the initial phase of the pandemic, the application development software market has registered a negative impact on its growth. The imposition of various restrictions like complete lockdown, a temporary ban on manufacturing units, media houses, and travel ban has negatively impacted the growth of various industries. Although, the increasing demand for software applications from IT & telecom and media & entertainment industries due to work from home culture is estimated to support the growth of the market in the coming years.
The spread of the corona virus has compelled several organizations to shift to online and work from home business models, which has significantly impacted the adoption of various advanced technologies and solutions. However, as everything is getting normalized, the demand for advanced technologies like application development software would further witness a surge in demand across different industrial verticals.
Market Growth Factors:
Increased efficiency and scalability
By using application development software, companies can develop their personalized business apps according to their needs, which make it a complete solution for carrying out all the tasks related to application development. In addition, this flexibility in the development of apps helps in boosting the efficiency of the companies along with offering high scalability. Further, it helps in improving the productivity of the employees.
Ease in management and enhanced customer relationship would attract more companies
Utilization of regular apps for the daily business operations of a company can be a bit risky as a developer of the regular apps is unknown to the company, which may arise various problems in front of the company. Thus, it is better to opt for developing custom business apps to obtain complete control of the operational processes of the organization and eliminate dependency on others.
Market Restraining Factor:
Incapability to edit the structure and code of the application
Application development software provides companies with better assistance and features to develop their customized application, particularly for the companies that want low code environment options, features, and templates. However, this software has some set templates, which cannot be edited by the software user that further restricts companies to explore the app development process.
Based on Type, the market is segmented into Low-code Development Platforms and No-code Development Platforms. The low code development platforms segment acquired the largest revenue share in the market in 2020. This growth is attributed to the factors like the growing requirement for scalability and personalization, swift rise in digital transformation within the IT & telecom industry, and high responsiveness to the business.
Deployment Type Outlook
Based on Deployment Type, the market is segmented into On-premise and Cloud. The cloud segment is estimated to display a significant growth rate over the forecast period. The increasing cloud service adoption by numerous SMEs and large enterprises owing to advantages like on-demand availability of computing services and zero initial infrastructure setup costs is anticipated to bolster the growth of the segment.
Enterprise Size Outlook
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Large enterprises have various revenue streams and corporate networks that help in the increased adoption of the latest solutions and technologies in their current systems. Due to bigger corporate networks, these companies select applications and software to offer to their clientele. The deployment of data on-premise assists large enterprises to manage confidentiality and data privacy, which is estimated to augment the growth of the segment during the forecast period.
End User Outlook
Based on End User, the market is segmented into Media & Entertainment, Telecom & IT, BFSI, Healthcare, Travel & Tourism, and Others. The IT & telecom segment is estimated to register a substantial growth rate during the forecast period. It is due to the factors like the growing number of tech-savvy people & IT professionals around the world and rising demand for personalized services & solutions within the IT & telecom sector, hence boosting the growth of the segment during the forecast period.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific region is projected to showcase the highest growth rate during the forecast period. The expanding tech-savvy & urban population across different nations like India & China and increasing number of manufacturing units & IT enterprises are estimated to bolster the growth in the regional market during the forecast period.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation (GitHub) and Google LLC. are the forerunners in the Application Development Software Market. Companies such as Oracle Corporation, Salesforce.com, Inc., Fujitsu Limited are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, Salesforce.com Inc., Zoho Corporation, Fujitsu Ltd., HCL Technologies, Wipro Ltd., Twilio Platform, Datadog, Inc., Microsoft Corporation (GitHub) and Google, LLC (Google Cloud Platform).
Recent Strategies Deployed in Application Development Software Market
Partnerships, Collaborations and Agreements:
Aug-2021: Wipro Limited formed a partnership with HERE Technologies, the location data, and the technology platform. This partnership aimed to provide location-based services, to users from Energy & Utilities, Transport & Logistics, Manufacturing, Telecom, and Automotive industry verticals.
Aug-2021: Wipro Limited partnered with DataRobot, a leader in Augmented Intelligence. This partnership aimed to offer Augmented Intelligence at scale, to assist users to become AI-driven enterprises and boost their business impact.
Jul-2021: Datadog entered into a partnership with Google Cloud, a suite of cloud computing services. Under this partnership, Datadog launched Google Cloud Marketplace, wherein Google Cloud users can purchase Datadog with just a few clicks on the Google Cloud Marketplace, enabling them to rapidly and easily supervise the health of their applications & infrastructure across their Google Cloud and hybrid cloud surroundings.
Jun-2021: Salesforce extended its partnership with Amazon Web Services (AWS). This partnership aimed to enable the combined customers to utilize the full set of Salesforce and AWS capabilities alongside to rapidly develop and deploy new business applications, which boost digital transformation.
Apr-2021: Wipro Limited came into a partnership with Google Cloud, a suite of cloud computing services. Under this partnership, Wipro achieved the Google Cloud Partner Specialization in application development and enabled users to leverage the best of the Google Cloud platform as they manage and develop cloud-native business applications, which allow quick time to market, boost the scalability of applications and combine them with external & internal systems in the IT landscape.
Jan-2021: Fujitsu America extended its partnership with PTC, a provider of digital solutions for industry and manufacturing. This expansion aimed to promote the adoption of augmented reality (AR) and Internet of Things (IoT) technologies.
Dec-2020: Twilio extended its partnership with WhatsApp, an American freeware, cross-platform centralized instant messaging, and voice-over-IP service. Through this expansion, WhatsApp would be a key channel across the Twilio Customer Engagement Platform, wherein clients build-in Twilio Flex, Frontline, or the Conversations API.
Sep-2020: Datadog came into a partnership with Microsoft Azure, a cloud computing service created by Microsoft. In this partnership, Datadog would be available in the Azure console as a first-class service.
Mar-2020: Google Cloud extended its partnership with Appian, a cloud computing and enterprise software company. This expansion aimed to improve the Appian AI portfolio and provides users with out-of-the-box AI capabilities pre-configured for Intelligent Document Processing (IDP) use cases.
Feb-2020: Fujitsu Limited partnered with Delphix, the industry leader in DataOps. This partnership aimed to assist companies to utilize DataOps to boost digital innovation initiatives. In this partnership, Fujitsu Limited would resell the Delphix DataOps platform and deliver installation support services to users.
Acquisitions and Mergers:
Apr-2021: Datadog acquired Sqreen, a SaaS-based security platform. This acquisition aimed to boost Datadog’s prevailing APM functionality and shift the company closer to delivering users with a robust, full-stack security monitoring solution for the cloud age.
Mar-2021: Wipro Limited entered into an agreement to acquire Capco, a global management and technology consultancy. This acquisition focused on making Wipro the largest end-to-end global consulting, technology, and transformation service provider to the banking & financial services sector.
Feb-2021: Datadog took over Timber Technologies, the developers of Vector, a vendor-agnostic, high-performance observability data pipeline. Through Vector, users can gather, enrich, and transform logs, and other observability data in on-premises and cloud surroundings, and could map this data automatically to the destination of their choice.
Dec-2020: Salesforce signed an agreement to acquire Slack Technologies, an American international software company. The integration of Slack with Salesforce Customer 360 would be transformative for users and the industry. In addition, it would develop the operating system for the latest way to work, distinctly enable organizations to grow and succeed in the all-digital world.
Dec-2020: Wipro took over 83.4% stake in Encore Theme, global banking, and financial software solution provider. This acquisition aimed to strengthen Wipro’s position as a key player around the world in deploying Finastra solutions.
Nov-2020: Twilio took over Segment, the Market-leading Customer Data Platform. Through this acquisition, Segment’s customer data platform would be integrated into Twilio’s engagement cloud, wherein Sement would be able to make the whole customer experience seamless from end to end.
Aug-2020: Datadog completed the acquisition of Undefined Labs, a testing and observability company for developer workflows. This acquisition aimed to expand Datadog’s prevailing platform into development environments and would help companies with better tooling & monitoring in constant integration and deployment (CI/CD) workflows.
Feb-2020: Salesforce entered into an agreement to acquire Vlocity, a leading provider of industry-specific cloud and mobile software. This acquisition would improve and support Salesforce’s industry capabilities and product knowledge, adding up new industry capabilities based on the Salesforce platform and deliver users with even more tools & expert guidance to carry out their digital transformation.
Jan-2020: Google took over AppSheet, a leading no-code application development platform. This acquisition aimed to assist companies to empower millions of citizen developers to more simply make and expand applications without the requirement for professional coding skills.
Product Launches and Product Expansions:
Aug-2021: Zoho launched Catalyst, a robust serverless platform. This platform helps customers to develop custom cloud applications with ease as it provides cutting-edge serverless capabilities to rapidly develop and implement innovative apps, microservices, and serverless product extensions.
Aug-2021: GitHub expanded its New Development Platform as the company shifted from the local development environment and adopted Codespaces for its daily development flow. Through this expansion, GitHub got a 10 seconds bootstrap time for its new environment.
Aug-2021: Twilio released its Developer Toolkit, a unique set of developer tools. These tools provide organizations the flexibility to personalize their customer data stack and provide truly unique customer experiences utilizing the Twilio Segment CDP. The Twilio Segment Developer Toolkit delivers enterprises with the most powerful data collection & integration capabilities in the market.
Jun-2021: Salesforce introduced a series of tools to its platform for low-code development. This addition aimed to assist customers to build apps, add critical elements such as identity, track and cope up with changes more easily and automate data compliance, among other things.
Jun-2021: HCL Technologies introduced a new version of Domino, the secure enterprise application-development platform. This version is a cloud-native, web- and mobile-ready and involves low code capability all out of the box.
Jan-2021: Oracle unveiled APEX low-code development platform, a Low-code Service. This platform would help app developers to rapidly and easily build data-driven enterprise applications.
Sep-2020: Zoho Corporation released Zoho Workplace, a single software platform. This platform integrates collaboration, productivity, and communications tools and combines them into other business processes. This platform consists of nine applications based on a common data model and united via common search and AI process a single dashboard, helping customers to resolve business problems collaboratively.
Sep-2020: Twilio introduced enhancements to its platform that boost companies’ digital transformation. These enhancements helped the companies to provide the important engagement experiences they required to reach their users.
Aug-2020: Datadog introduced Marketplace, an online platform for Datadog Partner Network (DPN) members to build and sell applications and integrations based on Datadog. In addition, Datadog customers would be capable to browse, purchase and rapidly utilize these applications.
Jun-2020: Fujitsu expanded its storage portfolio with four latest series of the Fujitsu Storage ETERNUS, which leverage NetApp’s improved data management software. This launch was the result of the company’s partnership with NetApp in providing a data management infrastructure that supports digital transformation.
May-2020: Oracle rolled out its first Generation 2 Cloud region in Korea, in Seoul. Through this launch, Oracle planned to strengthen its objective to operate 36 Generation 2 Cloud regions.
Apr-2020: HCL Technologies launched HCL?Domino?Volt, a?new?low-code capability built on the?HCL?Domino platform. Through this launch, the company aimed to empower clients closest to daily processes and issues to develop their apps, which resolves their challenges and align with their business processes and workflows.
Feb-2020: GitHub expanded its geographical footprint by establishing its operation in India. Through this expansion, India became the third-largest developer hub on GitHub, after the US and China.
Scope of the Study
Market Segments covered in the Report:
• Low-code Development Platforms
• No-code Development Platforms
By Deployment Type
By Enterprise Size
• Large Enterprises
• Small & Medium Enterprises
By End User
• Media & Entertainment
• Telecom & IT
• Travel & Tourism
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Oracle Corporation
• Salesforce.com Inc.
• Zoho Corporation
• Fujitsu Ltd.
• HCL Technologies
• Wipro Ltd.
• Twilio Platform
• Datadog, Inc.
• Microsoft Corporation (GitHub)
• Google, LLC (Google Cloud Platform)
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