Rapid application development market size to grow by USD 129.02 billion between 2022 and 2027; Growth driven by increasing adoption of cloud-based services – Technavio

Rapid application development market size to grow by USD 129.02 billion between 2022 and 2027; Growth driven by increasing adoption of cloud-based services – Technavio

NEW YORK, March 13, 2023 /PRNewswire/ — The global rapid application development market size is estimated to grow by USD 129.02 billion between 2022 and 2027, according to Technavio. The market is estimated to grow at a CAGR of 39.7% during the forecast period. The market is driven by the increasing adoption of cloud-based services. Cloud-based solutions offer various benefits such as easy accessibility, flexibility, and security. Many small and medium-sized enterprises prefer cloud-based application development services as they are cost-effective. Moreover, these solutions can be configured according to business needs and enable faster deployments. Many such benefits are increasing the adoption of cloud-based rapid application services, which is driving market growth. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

What’s New?

  • Special coverage on the RussiaUkraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
  • Global competitiveness and key competitor positions 
  • Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – buy the report!

Global Rapid Application Development Market – Segmentation Assessment
Segment Overview

Technavio has segmented the market based on capacity (large enterprises and small and medium enterprises), deployment (on-premise and cloud-based), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • The market growth in the large enterprises segment will be significant during the forecast period. The growth of the segment is driven by the rising demand for cost-effective packaged solutions for resolving organizational internal and external issues. Also, the increasing availability of rapid application development software that is compatible with both iOS and Android devices is contributing to the growth of the segment.

Geography Overview

By geography, the global rapid application development market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global rapid application development market.

  • North America will account for 35% of the market growth during the forecast period. The growth of the regional market is mainly driven by the increasing adoption of wireless technologies. Another factor driving the regional market is increasing government initiatives to enable the development of 5G technology.

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report

Global Rapid Application Development Market – Market Dynamics

Leading trends influencing the market 

  • Technological advances in application development is identified as the key trend in the market.
  • The advent of technologies such as AI, cloud computing, blockchain, big data, IoT, and others is transforming the way businesses function across industries.
  • The rising adoption of mobile devices across industries has created the need for the development of hybrid applications that can work across diverse operating systems.
  • The growing interest in e-governance systems is resulting in the development of applications for citizens to consume critical governmental services. Such advances are positively influencing market growth.

Major challenges hindering the market growth

  • The complexity involved in application development, planning, and estimation is the major challenge affecting the market growth.
  • Rapid application development requires teams to put more effort during the planning and estimation phase.
  • However, over-expectations from the management, lack of communication, and ignorance about the plan and setup can adversely affect the process.
  • Also, ignorance of the changing requirements, incremental development, and upstream delays further increase the complexity of the application development process.
  • Such complexities may negatively impact market growth.

Insights on Market Drivers, Trends, & Challenges, historic period(2017 to 2021), and forecast period (2023 to 2027) – Request a sample report!

What are the key data covered in this rapid application development market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the rapid application development market between 2023 and 2027
  • Precise estimation of the size of the rapid application development market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the rapid application development market industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of rapid application development market vendors

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Related Reports:

  • The custom application development service market size is expected to increase by USD 38.15 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.5%. The increasing adoption of cloud-based services is notably driving the custom software development market size growth, although factors such as the availability of open-source platforms may impede the market growth.
  • The application development and integration market size is expected to increase by USD 78.59 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.93%. The advantage of cost reduction due to operational streamlining is notably driving the application development and integration market growth, although factors such as time and budget constraints may impede the market growth.

Rapid Application Development Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 39.7%

Market growth 2023-2027

USD 129.02 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

39.58

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 35%

Key countries

US, Canada, China, Germany, France, Canada, Mexico, Italy, Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Amazon.com Inc., AmpleLogic, Appian Corp., International Business Machines Corp., Idera Inc., Kissflow Inc., Mendix Technology BV, Microsoft Corp., Ninox Software GmbH, Oracle Corp., Oro Inc., OutSystems Software em Rede SA, Pegasystems Inc., Quickbase Inc., Radzen Ltd., Salesforce.com Inc., ServiceNow Inc., Temenos Headquarters SA, WPP Plc, and Zoho Corp. Pvt. Ltd.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse through Technavio’s Information Technology Market Reports, ToC & LoE

Table of contents:

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Capacity
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global rapid application development market 2017 – 2021
    • Exhibit 18: Historic Market Size – Data Table on Global rapid application development market 2017 – 2021 ($ billion)
  • 4.2 Capacity Segment Analysis 2017 – 2021 
    • Exhibit 19: Historic Market Size – Capacity Segment 2017 – 2021 ($ billion)
  • 4.3 Deployment Segment Analysis 2017 – 2021
    • Exhibit 20: Historic Market Size – Deployment Segment 2017 – 2021 ($ billion)
  • 4.4 Geography Segment Analysis 2017 – 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)
  • 4.5 Country Segment Analysis 2017 – 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

  • 5.1 Five forces summary 
    • Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry 
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition 
    • Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Capacity

  • 6.1 Market segments 
    • Exhibit 30: Chart on Capacity – Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Capacity – Market share 2022-2027 (%)
  • 6.2 Comparison by Capacity 
    • Exhibit 32: Chart on Comparison by Capacity
    • Exhibit 33: Data Table on Comparison by Capacity
  • 6.3 Large enterprises – Market size and forecast 2022-2027
    • Exhibit 34: Chart on Large enterprises – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 35: Data Table on Large enterprises – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 36: Chart on Large enterprises – Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Large enterprises – Year-over-year growth 2022-2027 (%)
  • 6.4 Small and medium enterprises – Market size and forecast 2022-2027 
    • Exhibit 38: Chart on Small and medium enterprises – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 39: Data Table on Small and medium enterprises – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 40: Chart on Small and medium enterprises – Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Small and medium enterprises – Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Capacity 
    • Exhibit 42: Market opportunity by Capacity ($ billion)

7 Market Segmentation by Deployment

  • 7.1 Market segments 
    • Exhibit 43: Chart on Deployment – Market share 2022-2027 (%)
    • Exhibit 44: Data Table on Deployment – Market share 2022-2027 (%)
  • 7.2 Comparison by Deployment 
    • Exhibit 45: Chart on Comparison by Deployment
    • Exhibit 46: Data Table on Comparison by Deployment
  • 7.3 On-premise – Market size and forecast 2022-2027
    • Exhibit 47: Chart on On-premise – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 48: Data Table on On-premise – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 49: Chart on On-premise – Year-over-year growth 2022-2027 (%)
    • Exhibit 50: Data Table on On-premise – Year-over-year growth 2022-2027 (%)
  • 7.4 Cloud based – Market size and forecast 2022-2027
    • Exhibit 51: Chart on Cloud based – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 52: Data Table on Cloud based – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 53: Chart on Cloud based – Year-over-year growth 2022-2027 (%)
    • Exhibit 54: Data Table on Cloud based – Year-over-year growth 2022-2027 (%)
  • 7.5 Market opportunity by Deployment 
    • Exhibit 55: Market opportunity by Deployment ($ billion)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 59: Chart on Geographic comparison
    • Exhibit 60: Data Table on Geographic comparison
  • 9.3 North America – Market size and forecast 2022-2027
    • Exhibit 61: Chart on North America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 62: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 63: Chart on North America – Year-over-year growth 2022-2027 (%)
    • Exhibit 64: Data Table on North America – Year-over-year growth 2022-2027 (%)
  • 9.4 Europe – Market size and forecast 2022-2027
    • Exhibit 65: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 66: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 67: Chart on Europe – Year-over-year growth 2022-2027 (%)
    • Exhibit 68: Data Table on Europe – Year-over-year growth 2022-2027 (%)
  • 9.5 APAC – Market size and forecast 2022-2027
    • Exhibit 69: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 70: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 71: Chart on APAC – Year-over-year growth 2022-2027 (%)
    • Exhibit 72: Data Table on APAC – Year-over-year growth 2022-2027 (%)
  • 9.6 South America – Market size and forecast 2022-2027
    • Exhibit 73: Chart on South America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 74: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 75: Chart on South America – Year-over-year growth 2022-2027 (%)
    • Exhibit 76: Data Table on South America – Year-over-year growth 2022-2027 (%)
  • 9.7 Middle East and Africa – Market size and forecast 2022-2027 
    • Exhibit 77: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 78: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 79: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
    • Exhibit 80: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
  • 9.8 US – Market size and forecast 2022-2027
    • Exhibit 81: Chart on US – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 82: Data Table on US – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 83: Chart on US – Year-over-year growth 2022-2027 (%)
    • Exhibit 84: Data Table on US – Year-over-year growth 2022-2027 (%)
  • 9.9 China – Market size and forecast 2022-2027
    • Exhibit 85: Chart on China – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 86: Data Table on China – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 87: Chart on China – Year-over-year growth 2022-2027 (%)
    • Exhibit 88: Data Table on China – Year-over-year growth 2022-2027 (%)
  • 9.10 Germany – Market size and forecast 2022-2027
    • Exhibit 89: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 90: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 91: Chart on Germany – Year-over-year growth 2022-2027 (%)
    • Exhibit 92: Data Table on Germany – Year-over-year growth 2022-2027 (%)
  • 9.11 France – Market size and forecast 2022-2027
    • Exhibit 93: Chart on France – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 94: Data Table on France – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 95: Chart on France – Year-over-year growth 2022-2027 (%)
    • Exhibit 96: Data Table on France – Year-over-year growth 2022-2027 (%)
  • 9.12 Canada – Market size and forecast 2022-2027
    • Exhibit 97: Chart on Canada – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 98: Data Table on Canada – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 99: Chart on Canada – Year-over-year growth 2022-2027 (%)
    • Exhibit 100: Data Table on Canada – Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 101: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 102: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape 
    • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption 
    • Exhibit 104: Overview on factors of disruption
  • 11.4 Industry risks 
    • Exhibit 105: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered 
    • Exhibit 106: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 107: Matrix on vendor position and classification
  • 12.3 Amazon.com Inc. 
    • Exhibit 108: Amazon.com Inc. – Overview
    • Exhibit 109: Amazon.com Inc. – Business segments
    • Exhibit 110: Amazon.com Inc. – Key news
    • Exhibit 111: Amazon.com Inc. – Key offerings
    • Exhibit 112: Amazon.com Inc. – Segment focus
  • 12.4 Appian Corp. 
    • Exhibit 113: Appian Corp. – Overview
    • Exhibit 114: Appian Corp. – Product / Service
    • Exhibit 115: Appian Corp. – Key news
    • Exhibit 116: Appian Corp. – Key offerings
  • 12.5 International Business Machines Corp. 
    • Exhibit 117: International Business Machines Corp. – Overview
    • Exhibit 118: International Business Machines Corp. – Business segments
    • Exhibit 119: International Business Machines Corp. – Key offerings
    • Exhibit 120: International Business Machines Corp. – Segment focus
  • 12.6 Idera Inc. 
    • Exhibit 121: Idera Inc. – Overview
    • Exhibit 122: Idera Inc. – Product / Service
    • Exhibit 123: Idera Inc. – Key offerings
  • 12.7 Mendix Technology BV 
    • Exhibit 124: Mendix Technology BV – Overview
    • Exhibit 125: Mendix Technology BV – Product / Service
    • Exhibit 126: Mendix Technology BV – Key offerings
  • 12.8 Microsoft Corp. 
    • Exhibit 127: Microsoft Corp. – Overview
    • Exhibit 128: Microsoft Corp. – Business segments
    • Exhibit 129: Microsoft Corp. – Key news
    • Exhibit 130: Microsoft Corp. – Key offerings
    • Exhibit 131: Microsoft Corp. – Segment focus
  • 12.9 Ninox Software GmbH 
    • Exhibit 132: Ninox Software GmbH – Overview
    • Exhibit 133: Ninox Software GmbH – Product / Service
    • Exhibit 134: Ninox Software GmbH – Key offerings
  • 12.10 Oracle Corp. 
    • Exhibit 135: Oracle Corp. – Overview
    • Exhibit 136: Oracle Corp. – Business segments
    • Exhibit 137: Oracle Corp. – Key news
    • Exhibit 138: Oracle Corp. – Key offerings
    • Exhibit 139: Oracle Corp. – Segment focus
  • 12.11 Oro Inc. 
    • Exhibit 140: Oro Inc. – Overview
    • Exhibit 141: Oro Inc. – Product / Service
    • Exhibit 142: Oro Inc. – Key offerings
  • 12.12 OutSystems Software em Rede SA 
    • Exhibit 143: OutSystems Software em Rede SA – Overview
    • Exhibit 144: OutSystems Software em Rede SA – Product / Service
    • Exhibit 145: OutSystems Software em Rede SA – Key offerings
  • 12.13 Pegasystems Inc. 
    • Exhibit 146: Pegasystems Inc. – Overview
    • Exhibit 147: Pegasystems Inc. – Product / Service
    • Exhibit 148: Pegasystems Inc. – Key news
    • Exhibit 149: Pegasystems Inc. – Key offerings
  • 12.14 Salesforce.com Inc. 
    • Exhibit 150: Salesforce.com Inc. – Overview
    • Exhibit 151: Salesforce.com Inc. – Product / Service
    • Exhibit 152: Salesforce.com Inc. – Key news
    • Exhibit 153: Salesforce.com Inc. – Key offerings
  • 12.15 ServiceNow Inc. 
    • Exhibit 154: ServiceNow Inc. – Overview
    • Exhibit 155: ServiceNow Inc. – Product / Service
    • Exhibit 156: ServiceNow Inc. – Key news
    • Exhibit 157: ServiceNow Inc. – Key offerings
  • 12.16 Temenos Headquarters SA 
    • Exhibit 158: Temenos Headquarters SA – Overview
    • Exhibit 159: Temenos Headquarters SA – Business segments
    • Exhibit 160: Temenos Headquarters SA – Key news
    • Exhibit 161: Temenos Headquarters SA – Key offerings
    • Exhibit 162: Temenos Headquarters SA – Segment focus
  • 12.17 Zoho Corp. Pvt. Ltd. 
    • Exhibit 163: Zoho Corp. Pvt. Ltd. – Overview
    • Exhibit 164: Zoho Corp. Pvt. Ltd. – Product / Service
    • Exhibit 165: Zoho Corp. Pvt. Ltd. – Key offerings

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 166: Inclusions checklist
    • Exhibit 167: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 168: Currency conversion rates for US$
  • 13.4 Research methodology 
    • Exhibit 169: Research methodology
    • Exhibit 170: Validation techniques employed for market sizing
    • Exhibit 171: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 172: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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