In the face of an ongoing IT skills gap, technologies such as low-code and no-code platforms that can automate processes and empower workers to accomplish tasks are seeing significant growth, according to a recent study.
In each of the past four years, sales in low-code and no-code application platforms (LCAP) grew more $1 billion annually, from $3.47 billion in 2019 to a projected $8 billion this year.
Over the next two years, the LCAP market is projected to be the fastest-growing segment of the “hyperautomation” technologies market, as research firm Gartner calls it. LCAP is expected to grow 25% to roughly $10 billion in 2023 and to $12.3 billion in 2024, according to Gartner.
