Growing demand for cloud deployment among various small, medium and large enterprises is expected to sustain the market growth in the coming years.
PORTLAND, PORTLAND, OR, USA, Nov. 1, 2022 /EINPresswire.com/ — Expanding machine learning with AutoML and no-code AI and low-code/no-code (LCNC) security and of big data have driven the growth of the global application development software market. Furthermore, the Asia-Pacific market is expected to show the fastest CAGR of 25.8% during the forecast period.
According to the report published by Allied Market Research, the global application development software market generated $142.5 billion in 2021 and is expected to reach $1,159.2 billion by 2031, growing at a CAGR of 23. 5% from 2022 to 2031.
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The report offers detailed segmentation of the global application development software market based on platform, mode of deployment, enterprise size, industry vertical, and region. The report provides an analysis of each segment and sub-segment using tables and figures. This analysis helps investors, market players, and new entrants determine which sub-segments should be tapped to achieve growth in the coming years.
Based on platform, the low-code development platform segment accounted for the highest share in 2021, contributing nearly three-fifths of the total share, and is expected to maintain its leading status over the course of 2021. the forecast period. However, the no-code development platform segment is expected to show the highest CAGR of 24.7% from 2022 to 2031.
Based on deployment mode, on-premises segment held the largest share in 2021, accounting for more than half of the market, and is expected to maintain its revenue dominance by 2031. However, cloud segment is expected to witness at the highest CAGR of 24.8% during the forecast period.
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Based on enterprise size, the large enterprise segment dominated the market in 2021, accounting for more than half of the market, and is expected to maintain its leading position throughout the forecast period. However, the small and medium enterprise (SME) segment is estimated to show the highest CAGR of 24.8% during the forecast period.
Based on industry vertical, the media and entertainment segment held the largest share in 2021, accounting for approximately one-fifth of the global application development software market. However, the information technology and telecommunications segment is expected to show the highest CAGR of 26.6% during the forecast period.
Based on region, North America accounted for the highest share in 2021, contributing more than two-fifths of the total market share, and is expected to maintain its leading status by 2031. However, the market Asia-Pacific is expected to grow at the fastest CAGR of 25.8% over the forecast period. The research also analyzes regions such as Europe and LAMEA.
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Key players of global application development software market analyzed in the research include AppSheet, Google Cloud Platform, GitHub, Zoho Creator, Azure, Alice, Snappii Custom Mobile Apps, Twilio Platform, Datadog Cloud Monitoring, Axure RP Wipro Ltd. , Fujitsu Ltd. , HCL Technologies, Oracle Corporation, SAP SE, Joget and JetBrains.
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Finally, this report provides market insights in the most comprehensive manner. The structure of the report has been kept to provide maximum business value. It provides essential insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those looking to enter the market.
1. Enterprise Application Market
Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.
Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We are in professional business relationship with various companies. It helps us to extract market data which helps us to generate accurate research data tables and confirm utmost accuracy in our market predictions. All data companies in the domain are affected. Our secondary data sourcing methodology includes extensive presentation in the reports we publish and is drawn from primary interviews with senior online and offline research and discussions with relevant industry professionals and analysts.
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