An Overview of Low code No code market in 2023

low code no code

The low code no code development market is rapidly growing, and it is expected to continue to grow in the years to come. This is due to a number of factors, including the increasing demand for digital transformation, the need for rapid application development, and the desire for greater business agility. The worldwide market for low-code development technologies is projected to total $26.9 billion in 2023, an increase of 19.6% from 2022, according to the latest forecast from Gartner. A rise in business technologists and a growing number of enterprise-wide hyper-automation and composable business initiatives will be the key drivers accelerating the adoption of low-code no-code technologies through 2026.

Why the sudden low code no code market growth?

Low-Code No-Code development is a software development methodology that uses graphical user interfaces (GUIs) and other visual tools to create applications and enable business users and professional developers to create applications. This approach to development reduces the amount of coding required, making it easier and faster for businesses to build the applications they need.

So, it’s not a surprise that in a time when customer expectations are constantly changing, companies are looking for tools that can support hybrid work, and competition is becoming fiercer than ever, low-code No-Code development is on the rise.

Why is low-code development growing in popularity?

There are several reasons why Low-Code No-Code development is growing in popularity. These include:

     

      • The increasing demand for digital transformation: Businesses are increasingly looking to digitalise their operations in order to stay competitive. Low-code development can help businesses quickly and easily build the applications they need to support their digital transformation initiatives.

      • The need for hyper-automation: The orchestration of multiple advanced technologies that promote end-to-end business process automation is called hyper-automation. Businesses need to be able to develop applications quickly in order to keep up with the pace of change. Together with robotic process automation tools, artificial intelligence, and machine learning, low-code has emerged as a key tech solution for supporting successful hyper-automation initiatives.

      • The desire for greater business agility: Businesses need to be able to adapt quickly to changes in the market. Low-code No-Code development can help businesses do this by making it easier to build and deploy new applications.

      • IT democratisation: On average, 41% of employees in an organisation are “business technologists,” that is, collaborators outside IT departments who create technology or analytics capabilities for their own use. Because most of them don’t come from a traditional development background, they primarily rely on low-code and no-code tools to create the solutions they need.

    low code no code

    How big is the low-code market?

    The low-code global market is expected to be around $65 billion by 2027 and $187 billion by 2030. That’s a CAGR of 31.1 per cent between 2020-2030. Low-code application platforms (LCAPs) are projected to be the largest component of the low-code development technology market, growing 25% to reach nearly $10 billion in 2023 (See the below table).

    low code no code

    Understanding the low-code market landscape?

    Just like any other technology, not all low-code platforms are created equal, and as such, not all are suitable for the same use cases.

    If you’re currently evaluating low-code for a certain project, three criteria can help you understand the low-code market:

        1. Who is the targeted user of the platform?
        2. What functions and features does the platform include?
        3. What use cases does the platform address?

      With that in mind, the low-code market can be grouped into three main categories:

          1. Regular low-code
          2. Enterprise level low-code
          3. High-performance low-code

        What’s the right low code no code platform for you?

        This categorization doesn’t mean that one type of low-code platform is better than another; it always depends on your needs.

        If you just want to empower your line of business to build simple apps, a regular Low-Code category is enough. But if you’re looking for a technology that supports your digital transformation initiatives, you should look for high-performance low-code.

        The future of low code no code development

        The low-code development market is expected to continue to grow in the years to come. This is due to the increasing demand for digital transformation, the need for rapid application development, and the desire for greater business agility. As the market grows, we can expect to see new low-code platforms emerge that address the challenges of low-code development, such as the lack of skilled resources and the complexity of some platforms. We can also expect to see more businesses adopt low-code development as they realize the benefits it can offer.

        In conclusion, the low code no code trend is rapidly gaining momentum, driven by the increasing demand for digital solutions and the cost savings offered by low code no code solutions. With the predictions that no-code will be a crucial part of the business operations in the next five years, and at least 65% of all application development activity by 2025. It’s worth considering how your business can leverage no-code technology to stay ahead of the curve.

        We at Amoga are building a low code no code platform that empowers businesses to build enterprise-grade applications 10x faster and at 25% lower cost than traditional software. Organizations can break free from complex software limitations with features such as Pre-built App templates, App Studio, visual UI builders, Form Builders, and Customized Workflow. Book your demo today and start building apps with Amoga.

        Content Source – LinkedIn

        Hybrid workplace model and how it enhances workplace productivity

        Hybrid workplace

        Recent report by Accenture 83% of the surveyed employees say they prefer a hybrid workplace model — in which they can work remotely at least 25% of the time. While the employees prefer it, so do the companies. 

        The pandemic brought about a paradigm shift across the world in the way businesses operate. From work cultures, work models, productivity enhancement, performance management to work hours -in these changing times everything has been approached with a different point of view as businesses were forced to shift to work from home models. 

        As everyone tried, tested, and adopted different methods to maintain business continuity, they were continuously ironing out the challenges brought about by the sudden change and designing work processes to ensure optimal productivity levels. 

        While many industries still struggle with inefficiencies brought about by the shift, most others have settled into a work model that used to be termed as the “future of work.”  

        As the pandemic catalyzed this transformation journey, a flexible working business model also known as the hybrid workplace is becoming the norm for many industries. 

        What is a hybrid workplace model? 

        As the pandemic pushed countries into lockdown, the hybrid workplace was the only option most industries had to maintain business continuity. From this arose a ton of challenges, most of which resulted in lower productivity. 

        Some challenges faced by organizations when following the work from home model –

        • Lack of work environment for the employees and distractions 
        • Network and electricity dependency on localities 
        • Lack of office facilities 
        • Increase in IT issues and resolution times
        • Intra and inter team collaboration 
        • Time management and work-life balance 
        • Lack of motivation 
        • Time zone differences 
        Most of these challenges directly affected the productivity of the overall business. Although, the model also had its own set of advantages –

        • Savings in business expenses related to rent, overheads, facilities, maintenance and more.
        • Savings in employee’s expenses and time otherwise used to commute.
        • Employee independence to maintain flexible work hours.
        • No constraint for businesses and employees’ when recruiting and applying for relevant job roles. 

        As time progressed, companies identified and resolved all concerns that arose as the model was implemented. While some teams performed better while working from home, some performed better when working from an office setup. This led to the concept of hybrid workplace model. 

        A hybrid workplace model has been defined as a business model combining remote work or work from anywhere with work from the office.  

        This combination differs from company to company, while some would give an option to all their employees to split remote work and office work within the week, others would split the workforce into core team members that are required in the office and the rest continue to work from anywhere.  

        The decision is usually based on the industry, nature of business, and their employees’ preferences. 

        Future of work: Hybrid workplace 

        Recent report by Accenture 83% of the surveyed employees say they prefer a hybrid model — in which they can work remotely at least 25% of the time. While the employees prefer it, so do the companies. 

        The same report also finds that 63% of high-growth companies have already adopted a “productivity anywhere” workforce model or the flexible work model. 

        Not only is the hybrid workplace a preferred model by many employees, but recent research by Wakefield proves that employees are positively averse to going back to the traditional on-site workdays.  

        The research shows that almost half (47%) would likely to look for a job if their employer does not adopt a flexible or hybrid working model. 

        As the hybrid workplace model establishes itself for the long run, HR (Human Resources) teams across industries must gear up with relevant policy changes, company culture shifts, training, and onboarding processes, and so on. 

        The hybrid model is here to stay and some of the major advantages that can be leveraged are –

        • Work-life balance 
          Hybrid workplaces give employees the flexibility to choose where to work from and adjust working hours depending on their personal commitments. For employees who are caregivers, a flexible work model helps them split their time effectively ensuring optimal productivity at work and ample time with the family. 

          A complete work from home model robs employees of the chance to coordinate and collaborate effectively, reducing productivity. This in turn requires employees to stretch work hours in order to maintain their productivity levels and meet deadlines. The hybrid workplace essentially helps maintain work-life balance as it helps overcome this challenge. 

        • Flexible work hours 
          Preferred work hours are different for each employee – while some prefer working early in the morning others may not. The early bird vs. night owl debate is a long and old one. Flexible working hours – specifically in a hybrid model where the employees have the freedom to choose from where they would like to work, is a win-win for all. 

          As long as the employees have considerable overlapping hours, collaboration and coordination will not be affected. Every employee’s productivity level can be expected to improve if given the choice of working hours and place. 

        • Hiring across geographies 
          Since work from anywhere allows employees to choose from homes, vacation destinations, offices, and co-working spaces, companies have the liberty to widen the pool of applicants to search for talents from across geographies. This is a major constraint for aspirants across industries. 

          Most applicants look for opportunities in certain geographies or have to relocate in order to match their requirements. For many frontline workers, this is still a constraint. However, for those who have the liberty to shift to a hybrid workplace model, this is an opportunity that proves to be a win-win for both the company as well as the employees. 

        • Improved coordination and collaboration 
          Coordination and collaboration among team members is achieved best when the team is working out of an office space that houses all the team members making them easy to contact. Although, this is a scenario that is not possible – regardless of the pandemic situation – for most multi-national organizations. 

          As employees come together to form closer bonds when working from the same site, their offshore counterparts tend to lose out on the coordination affecting work quality and productivity. Shifting to a hybrid workplace ensures all the employees are on equal footing. 

          This ensures conversations and meetings are necessarily moved on to a virtual platform and reduces the chances of offline meetings and conversations – improving overall team coordination and collaboration. 

        • Cost efficiency 
          Moving to a hybrid workspace means companies need not build workplaces with full employee capacities. The cost of providing facilities to all employees including rent, overheads, pantry costs, and much more is high, and reducing it to a fraction of the workforce without losing the workforce is a cost-efficient alternative. 

          As per this McKinsey article, companies can reduce their real-estate costs by almost 30% by moving to hybrid workplaces. The cost-efficiency extends to employees who can reduce their commute time and costs as well as ancillary costs; like hiring help for home management, daycare expenses etc. 

        To adopt a hybrid workplace, companies need to evaluate their current working models, collect feedback from the employees, analyze the pros and cons, and initiate a change management program to successfully implement the desired working process. 

        Looping in employees, understanding their preferences, and ensuring their satisfaction should be the goal as it directly affects the company culture, productivity, and employee turnover. Leverage digital solutions like a low code platform that help ensure the workforce is virtually connected and happy. 

        Check out Amoga, a low code platform where employees can engage, work, and grow. Amoga simplifies, automates, tracks work and goals progress, all in one place, enabling your workforce to work from anywhere: resulting in higher employee engagement and productivity. 

        Digital Workplace with a Human Touch: Make your workplace more human-centric

        Digital workplace

        The pandemic has changed people’s lives by unveiling the full potential of digital tools. Some of the features that make up a digital workspace are online collaboration, video calls and remote meetings, document management, and cloud services. This has been a lifeline for many companies to continue operations, but it is still an unexplored path for many others.  

        Many business leaders believe that implementing the right technology like a low code development platform will transform the business. But the truth is, you cannot rely on technology alone to solve the problems. Technology is just a tool that enables employees to accomplish goals. So, employees must come first while designing a successful digital workplace. 

        Humanizing the workplace is an essential step towards improving employee morale and retention rate and, in turn, improving the company’s productivity and capacity. Employees who feel connected to their digital workplace are much more likely to exhibit higher rates of morale and satisfaction levels than those who feel dehumanized in their work environment. This is the first and most crucial step towards digital transformation. According to a global survey by JLL, workplaces of the future will be versatile and hybrid, focusing on employee-centric solutions. 

        What is a digital workplace?

        A digital workplace is a cloud-based work platform that allows organizations to work virtually.  

        Gartner analysts define it as “a business strategy that enables innovative and more efficient ways of working, leveraging worker-centric organizational models and technologies, and improving employee engagement and productivity.”  

        A successful digital workplace aligns technology, people, and business processes to improve operational efficiency and achieve business goals.  

        The next step in digital transformation strategy is to focus on employee engagement and provide them with an intentional and crafted digital experience to accomplish their work. As it is no longer mandatory to limit oneself to the office’s physical space to carry out professional activities, organizations need to think deeply about aligning their business processes and employees with technology.  

        Ways digital workplace helps in making work more human 

        Thankfully, there are several measures that business leaders can take to create a human-centric digital workplace. Here are some key elements to focus on –

        1. Trusting employees and encouraging their autonomy 
          The first step to bringing a human-centric approach to the digital workspace is trusting your employees and empowering them. Since you won’t be physically next to the team, you won’t be able to supervise tasks all the time, and this is where trust is required. If employees are well-associated with their tasks and perform activities with quality, they do not need full-time supervision. In these cases, it is necessary to encourage autonomy and assign responsibilities to them.  

          Before granting this independence to the entire team, it is essential to know each employee well and understand their level of maturity in the position. For instance, recently hired people may need your supervision more, so their autonomy will not be equal to professionals with more experience.

        2. Keeping lines of communication open
          A strong communications strategy based on modern, intelligent delivery systems can help employees feel safe, secure, and connected in a digital work environment. But, with tons of apps now available in communication, it is quite easier to send a quick message than have a real conversation with your employees. IMs and emails can often come off cold and distant or leave the employee feeling like you do not really want to engage with them. Therefore, it is essential to have a more human approach to interaction when possible.   

          With digital workplaces, you can set up an effective communication channel making it easy for the remote staff to collaborate easily with other team members and keep up to date with business changes.  

          Moreover, eye contact helps you empathize with employees and see if they understand what you’re talking about! For this reason, at times, you should turn on the camera during team meetings and ask your team members to do the same.  

        3. Aligning and engaging your workforce 
          Keeping remote employees engaged isn’t an easy feat by any means. As most of the employees and managers work remotely, ensuring the same level of motivation has become quite difficult compared to when they are at the office premises. So, implementing OKR here is the secret to digital workplace success.   

          The acronym OKR stands for “Objectives and Key Results.” As its name indicates, it implies employee career success by allowing employees to focus and communicate more effectively and be more aligned across teams. OKRs assist in organizing teams and their day-to-day work around achieving common objectives. It helps employees connect with their managers or business leaders with increased transparency, improved focus, and better alignment.   

          Moreover, the OKR framework also helps employees to:   
          • Keep regular track of their progress.
          • Increases focus & productivity. 
          • Elevates employee engagement & commitment. 
          • Allows employees and their leaders to work cohesively.  

        4. Offering flexible working-hours 
          It is worth saying that flexible working hours are the key to productivity during remote working. Gartner’s 2020 Reimagine HR Employee Survey revealed that only 36% of employees were high performers at organizations with a standard 40-hour workweek. And organizations that offer employees flexibility over when, where, and how much they work see 55% of their workforce as high performers. When employees are getting the job done, being a business leader, how can you support them and provide the digital workplace solutions they expect and need?   

          To start, organizations should strive to provide employees with modern digital experiences that enable them to work according to their convenience. Empowering employees with this sort of flexibility delivers significant employee experience benefits and helps them to better manage their work-life balance, improve their wellness and be more productive.  

        5. Main advantages of human-centric digital workplace 
          Now that we comprehend the concept of the digital workplace and the implementation of a human-centric work environment, let us explore the advantages of putting it into practice. 

        6. Increased productivity  
          Adopting the digital workspace will allow your company to rely on more effective processes, generating a positive impact on the entire team’s productivity. Technological advancements have entirely reshaped organizations by streamlining business activities and automating some tasks.   

          With this improvement provided by the digital workplace, team members will produce more in less time. Moreover, they will be able to leverage these smarter tools to collaborate better.  

        7. Retaining talent  
          Every employee wishes to be valued, and it is common for everyone to like it when superiors express the same. Employees who feel valuable and essential to the company have a great tendency to remain part of it and do so of their own free will. Thus, business leaders now can value their employees, skills, presence, and all the excellent work done in the process using technological tools.   

          A digital workplace enables businesses to take advantage of technological developments by centralizing information and organizational processes, creating a social network and collaboration platform, thus building a strong employer brand, and retaining talent.  

        8. Superior team engagement  
          Keeping your team members engaged with their activities is very desirable, as it contributes to the efficiency and quality of their deliveries. Although it appears that a digital workplace will make people more distant, the reality is quite the opposite. In most cases, there is an increase in team engagement. It is because the digital workplace facilitates access to learning platforms, making it possible to train your team independently. Moreover, gamification features help to amplify that potential.