Global rapid application development market is expected to reach USD 95.2 Billion by 2025 at a CAGR of 40.1% during the forecast period from 2018-2025. Rising need for quick customization and scalability and removal of gaps in the required IT skills are two major driving forces of the market.
Rapid application development (RAD) is defined as a suite of software development techniques which are used to expedite software application development. It deploys predefined prototyping techniques and tools to generate software applications. It covers a graphical user interface (GUI) development environment which allows end users to easily drag and drop required software application components. Software RAD techniques use computer-aided software engineering (CASE). For instance, in April 2018, Microsoft partnered with C3 IoT, an AI, and IoT software platform provider, to deliver new technology developments and provide go-to-market strategies that accelerate enterprise AI and IoT application developments. Combining the market reach of Microsoft Azure and the capability of C3 IoT’s AI platform, Microsoft plans to accelerate the adoption of AI, IoT, and elastic cloud computing globally.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The rapid application development market is analyzed by value (USD Billion).
- The study delivers a comprehensive analysis of global rapid application development market by type, component, industry vertical, business function, deployment model, organization size and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the global rapid application development market. This report incorporates the industry analysis which is focused on providing an extensive view of the rapid application development market.
- The study also includes attractiveness analysis of types, component, industry vertical, business function, deployment model, organization size and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the rapid application development market and a comparative analysis based on their business overviews, Component offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Rising need for quick customization and scalability
- The increase in enterprise mobility leads to increased usage of smartphones in businesses, in turn, influencing the demand
- Removal of gaps in the required IT skills
- Increased dependency on vendor-supplied customization
- Technological advancement and digital transformation in the IT industry
- The legacy software requires up gradation
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately41.60% in 2017.TheAsia Pacific region is dominating because of fast urbanization, diet variation, and liberalization of foreign direct investment in the food sector. Besides this, rise in income level, increase in purchasing power, growth of the middle-class population and increasing consumer awareness are also some factors which is leading to growth of the market.
The major players ofmarketinclude IBM, AWS, Google, Microsoft, Oracle, Salesforce, Appian, Mendix, Zoho Corporation, OutSystems, LANSA, Ninox, Oro,Matsoft, Kony, Pegasystems, ServiceNow, WaveMaker, KiSSFLOW, Radzen, AmpleLogic, FileMaker, QuickBase, AppSheet, and K2.