As we all know, our increasingly digital world is built on software, which has traditionally been complex, inflexible, and developed and integrated using deep technical knowledge. This is now changing, thanks to low-code and no-code technology.
Low-code and no-code platforms use intuitive graphical interfaces, allowing both technical and non-technical users to quickly build apps and automate business processes. These tools offer several advantages: lowering barriers to entry for new services, enhancing user accessibility, fostering experimentation and creativity, and, especially now, integrating AI into the business.
These alternatives to traditional coding are gaining ground across industries. Gartner forecasts that by 2026, developers outside formal IT departments will account for at least 80% of the user base for low-code development tools, up from 60% in 2021. The low-code development market is projected to grow to US$44.5 billion by 2026, with related consulting and outsourcing services potentially reaching between US$69 billion and US$92 billion.
As the use of low-code and no-code platforms expands, innovation in products, services, and businesses will accelerate. Companies across industries need to act now.
Efficiency in app development and deployment
Businesses are constantly striving to gain an edge over their competitors as technology continues to develop. With the deployment of low-code and no-code platforms, organisations can streamline repetitive coding tasks and increase operational efficiency. No-code platforms, in particular, enable users to develop solutions without writing a single line of code, making them accessible even to those without technical expertise.
Both approaches can cut development time by up to 90%, according to Quandary Consulting Group, through pre-built templates, drag-and-drop interfaces, and automated coding tasks, enabling rapid application development (RAD) and quicker time to market. This allows developers to focus on capturing business requirements and assembling pre-built elements within a short timeframe.
A case in point: life/health reinsurer Gen Re selected a low-code platform and reportedly delivered 30 apps in its first nine months, replacing its complex IT architecture. This move supported the retirement of Lotus Notes and allowed the company to modernise more effectively at scale.
Beyond cost-effectiveness and improved agility
Traditional software development involves lengthy coding, testing, and debugging cycles, which often result in high support and maintenance costs. In contrast, low-code and no-code platforms simplify tasks such as system scaling, compliance, and automation, reducing maintenance and scaling expenses. With less manual coding, fewer complexities and software errors arise. Simpler coding and built-in validation features enable smoother collaboration between teams, enhancing communication, operational efficiency, and the quality of end products.
In a Forrester blog, John Bratincevic notes that 87% of enterprise developers now use low-code platforms for some development work. He expects this trend to drive a 21% annual growth rate, reaching US$30 billion by 2028, due to the rise of citizen development.
Retailers are also progressively investing in technologies that improve operational efficiency, according to Incisiv’s 2023 Connected Retail Experience Study. Integrating low-code platforms into payment processes with built-in APIs helps retailers connect with multiple payment gateways, enhancing transaction security. Additionally, low-code platforms can streamline store planning, delivery, and contract lifecycle management, allowing businesses to develop custom applications for inventory management and product placement.
Democratising process automation for businesses
Low-code and no-code platforms are crucial enablers of AI democratisation, allowing non-technical users to build AI applications without specialised coding skills. These tools broaden participation in AI development across various sectors. Gartner estimates that by 2024, 80% of technology products and services will be built by non-technology professionals.
In software development, low-code tools, including those that help build AI-driven natural-language virtual assistants for tasks like self-service support, billing updates, and appointment scheduling, have simplified processes for developers.
Toyota Motor Corporation, for example, improved development productivity by adopting a low-code approach. Its journey began with a relatively small application, the “Sheet Metal System,” initially used in the User Department. This initiative led to a 30% reduction in work hours compared to conventional development methods. Since then, the approach has expanded across 23 companies in the Toyota Group, with over 70 projects underway. As of October 2023, Toyota had established a low-code centre of excellence for front-end development and legacy system modernisation.
Harnessing the capabilities of low-code and no-code development is the way forward
As the demand for digital solutions continues to grow, low-code and no-code platforms are becoming essential in the software development landscape. Businesses of all sizes, from local enterprises to multinational corporations, are embracing these platforms to drive innovation, improve operational efficiency, and stay competitive in the rapidly changing marketplace.
