Application Development Software Market Size
The increasing demand for cloud deployment among various small, medium, and large enterprises is expected to support market growth in the coming years.
PORTLAND, PORTLAND, OR, UNITED STATE, November 1, 2022 /EINPresswire.com/ — Machine learning expansion with AutoML and no-code AI and low-code/no-code (LCNC) and big data security have boosted the growth of the global application development software market. In addition, the market across Asia-Pacific is projected to portray 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 estimated to reach $1,159.2 billion by 2031, witnessing 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, deployment mode, enterprise size, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped into to achieve growth in the coming years.
Based on platform, the low code development platform segment accounted for the highest share in 2021, contributing to nearly three-fifths of the total share, and is expected to maintain its leadership status during the forecast period. However, the no-code development platforms segment is expected to manifest the highest CAGR of 24.7% from 2022 to 2031.
Based on deployment mode, the on-premise segment held the largest share in 2021, accounting for more than half of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the cloud segment is estimated to witness the largest CAGR of 24.8% during the forecast period.
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On the basis of enterprise size, the large enterprise segment dominated the market in 2021, accounting for more than half of the market, and is projected to maintain its leading position throughout the forecast period. However, the small and medium-sized enterprise (SMEs) segment is estimated to showcase 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 around one-fifth of the global application development software market. However, the IT and Telecom segment is projected to portray the highest CAGR of 26.6% during the forecast period.
Based on region, North America accounted for the highest share in 2021, contributing to more than two-fifths of the total market share, and is projected to continue its leadership status by 2031. However, market across Asia-Pacific is projected to portray the fastest CAGR of 25.8% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Leading players of the 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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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm the utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us and is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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