Low-code cases
Around 70% of newly developed applications by organisations will use low-code technologies by 2025, as per insights from Radix. The market of global low-code development platforms is expected to generate a revenue of $187 billion by 2023, rising from $10 billion in 2019, and might reach about 31% CAGR, during the forecast period. Also, low-code development tools are expected to be responsible for over 65% of application development activity by 2024. User cases include replacing excel sheets with a web application is one of the most common low-code (or no-code) use cases. Beyond Business Intelligence (BI) tools, such as Microsoft PowerBI or Tableau have gained in popularity in recent years. However, these tools are also inherently limited, as they are designed to be ‘read-only’. Here comes, Low-code with its charting and dashboarding capabilities similar to pure-bred BI tools along with enabling users to write back to the database.
Experts believe today’s enterprises face a dynamic customer experience landscape. Journeys are expected to be no longer linear but are multi-touch and multi-channel. With a constant shift in customer expectations, businesses must cater to a wide spectrum of languages, preferences, and digital literacy levels, especially in a vast market such as India, among others. However, it is believed that technology should be adopted rapidly, and here enterprises face a challenge. It is believed homegrown solutions are not viable anymore due to prolonged deployment times, while off-the-shelf alternatives lack flexibility.“Low-code can empower businesses to orchestrate and customise customer engagement while leveraging the latest technology. With these solutions, businesses can integrate AI elements and effectively prioritise genuine customer experiences over rigid rule-based engagement,” Prashanth Kancherla, chief product officer, Ozonetel, explained.
The road ahead
Industry experts believe that low-code development is reshaping the business landscape, acting as a bridge between traditional coding expertise and the burgeoning demand for innovative software. It is believed to democratise technology, allowing users to craft advanced applications and ensuring that new ideas aren’t stifled by coding limitations. “Looking ahead, low-code isn’t merely a fleeting trend but a seismic shift in business transformation. It might be the anchor of digital strategies, facilitating adaptability, resilience, and innovation. As enterprises navigate through the digital age, low-code can be their guiding compass, streamlining operations, enhancing customer interactions and improving growth. It might set to redefine our technological perception and unlock an organisation’s utmost potential,” Ram Singampalli, chief delivery officer, Emids, highlighted.
More than 500 million applications and services will be developed using cloud-native approaches by 2023, as per insights from Radix. Interestingly, in today’s cloud era, the low-code might have the potential to transform the way we approach digital transformation. “The future of Low Code in business transformations is promising, as they are evolving in the delivery and deployment of internet of things (IoT), artificial intelligence (AI), and machine learning (ML)-powered applications. As we shift more towards cloud, data engineering, analytics, AI and platform engineering, we create new possibilities for users with fast turnaround by unlocking low-code technology’s full potential and delivering impactful change,” Raja Poladi, head, India Delivery Center, Egen, concluded.
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