25 Shocking Facts About Low Code
Low Code Software Development Stats
Growing businesses face more challenges now than ever before. On the one hand, you have the ever-growing pressure to reduce costs. On the other hand, you need to scale your business and meet demands. And while the best solution is to lean on custom applications and automation to streamline your business, for the longest time, that hasn't been an affordable possibility for most businesses. At least, that was the case before low code.
What is low code? How does it differ from traditional application development? And why should you consider low code applications for your business? Whether you know nothing about low code, or you're curious about how powerful these platforms are, here are 25 shocking facts about low code to help you stay informed.
What Is Low Code?
These facts cover the details about what low code is and how it works.
1. Low Code Platforms Use Less Code
Forester coined the term “low-code” in 2014 and have since modified the definition:
“Low-code platforms employ visual, declarative techniques instead of traditional lines of programming. Both developers and non-developers can use these products, and they require less training to start. Common features include reusable components, drag-and-drop tools, and process modeling. Individuals or small teams can experiment, prototype, and deliver apps in days or weeks.” – Forester
2. Low Code and No-Code Are NOT the Same
Low code requires some basic coding knowledge. No code platforms, on the other hand, rely completely on a visual user interface. Both programs use code, however. They just hide most of it from the end-user to make it easier to use. This way, you don't need to sort through stacks of code to create a program.
3. Citizen Developers Democratize Software Development
The concept of citizen developers dates all the way back to 1982, from a book written by James Martin called Application Development Without Programmers. It spawned a fourth-generation programming language using computer-assisted software engineering tools. Sadly, the movement fell short when it over-promised and under-delivered.
4. Drag-and-Drop Interfaces Make App Builds Easy
Low code uses visual modeling with drag and drop interfaces to help citizen developers interact with a visual representation of the code easily. With a little training, employees can rapidly create and secure scalable software.
5. Coding Expertise Is Not Necessary
Most low code users don’t have any programming experience. In fact, a study from Mendix) found that 24% of users had no experience at all before using low code platforms. And 40% of users come from a mostly business background.
Facts About Low Code's Increasing Demand
Now, more than ever after the pandemic, businesses feel the pressure to push operations to the cloud. These facts highlight the growing demand for low code in organizations.
6. More Organizations Are Using Low Code
According to Gartner, more than 65% of application development in 2024 will be performed by low code platforms. That's a radical shift.
7. Business App Demand Is Constantly Increasing
The number of applications businesses being built will drastically rise. Between 2018 – 2023, more than 500 million apps will be created. That’s more than the previous 40 years combined.
8. Forcast: Drastic Growth for Low Code Market
All these drivers mean that the low code market is expected to increase from its $10.3 billion market value back in 2019 to $187 billion by 2030 as more companies see the benefits of adopting the platform for their business needs. That's a CAGR of 31.1%.
The push for this massive growth? The need to optimize workflows, build custom apps, and meet customer demands, all while staying within a limited IT budget. COVID is also driving the need for low code apps.
Facts about the True Cost of Traditional Programming
The old way of building apps cannot keep pace with today's digital marketplace. These facts showcase the downside of traditional application builds and why low code is a more viable (and affordable) solution.
9. CIOs Struggle to Fill Tech Positions
83% of CIOs struggle to hire staff to help meet increasing demands. The main gaps are in analytics, information management, and big data. The tech demands of organizations are stronger than ever, but the pool of qualified applicants is small. This can force IT departments to overwork their staff.
10. There's an Unprecedented Demand for Programmers
There are over 500,000 computer science jobs currently open in the US, and the field is projected to grow at a rate of 2x other job fields. As more organizations look to streamline processes with integrations and automation, the need for people with a background in computer programming grows as well. This is due to the reality that businesses realize they need an effective digital strategy to stay ahead of competitors.
11. Salary for Software Developers Continues to Increase
The average salary for software developers is $104,425. And, there are more than 223,000 software developer job openings in the US with companies struggling to fill these positions. This is simply supply and demand. The massive pull of talent has pushed salary premiums up, giving businesses with larger IT budgets the power to collect more talent.
12. Technical Debt Accounts Wastes IT Budget
Technical debt is the cost companies pay to maintain and fix code in applications. On average, a company spends $3.61 per line of code. With the average-size application at 300,000 lines of code (LOC), that comes to $1,083,000 per application. –CastSoftware
What's worse, 33% of engineer's time goes to dealing with technical debt. This huge hindrance prevents software engineers from focusing on building the tools businesses need to scale their business and better serve customers.
Facts About Low Code Enterprise Adoption
Low Code is for organizations big and small. Leading the way currently, are enterprise organizations looking to cut costs while delivering on expectations. These facts showcase these initiatives.
13. Major Industries Are At Risk
Increasingly, large businesses will struggle to maintain customer relationships. Five major retail banking businesses (consumer finance, mortgages, SME lending, retail payments, and wealth management) will be at risk by 2025. The reason? Attackers will drive prices lower due to margin compression. These leaner businesses will be able to offer more features and stronger relationships at a lower cost.
14. Enterprise Adoption Is Currently Low
Currently, 12% of enterprises manage their processes using low code tools according to The Growing Importance of Process to Digital transformation by Forester. This is most like due to their investments in legacy systems and perceived greater risk in transitioning to new systems.
15. Large Organizations Are Choosing Increasingly
According to Gartner, “By 2024 75% of large enterprises will be using at least four low-code development tools for both IT application development and citizen development initiatives.”
16. Enterprise Companies Want More Citizen Developers
Most Enterprises (70%) will have policies in place for citizen developers by 2020, according to Gartner’s Citizen Development is Fundamental to the Digital Workplace report. This is because it is often cheaper to train employees in low code platforms than it is to expand IT departments and resources.
Facts About Low Code's ROI
Aside from the other cost-cutting benefits of low code already listed, these facts cover the true cost of low code and what kind of return to expect.
17. Low Code Is Affordable
Low code cost varies and usually runs as a subscription service. The more applications a business runs, the greater the cost. Estimates can be as low as $25 per month to over $5,000 for enterprise-level software. Cost scales with use. As a result, small businesses only pay for what they use, freeing up resources for other initiatives.
18. Low Code Is Low-Risk and High Reward
Outsystems has helped businesses like Schneider Electric launch 60 apps in 20 months, with most delivered in just 10 weeks. And Ricoh replaced their legacy systems, resulting in a 253% ROI in 7 months.
Process improvement and optimization are often the key focus areas for low code development. Automation and integration tend to yield rapid ROIs, making low code an enticing platform for small and large businesses alike.
19. Legacy Systems Are Too Expensive to Maintain
Legacy systems tend to be more trouble (and cost) than they're worth. Over 75% of the federal government’s $80 billion IT budget goes to maintaining legacy systems and many are over 25 years old. Legacy systems hold businesses back by absorbing most of their IT budget, chaining them to dated platforms that underdeliver and limit organizational responsiveness.
20. Employees Can Learn Low Code Quickly.
Low code is designed to be simple and accessible. Employees only need brief training. From there, they can rapidly create the systems needed to improve businesses. For example, the 402nd Software Maintenance Group learned and deployed an enterprise-class HRT application in 2 weeks.
21. Low Code Reduces Steps in the Development Process
Building software with low code reduces the steps in the software development process from 16 to only 7. Because there's less code, you'll avoid steps like planning systems architecture, setting up backend frameworks, hard coding, and endless rounds of testing.
22. App Development with Low Code Is Faster
Companies can rapidly produce applications within a shorter time span and at a fraction of the cost with low code. There is a lot less code to deal with, after all. And less code means fewer issues. As a result, the time to market for most apps is drastically faster. For example, Schneider Electronics launched 60 apps (they created most of those in just 10 weeks)
23. Low Code Levels the Playing Field
Low Code provides a clear alternative to custom application development. It levels the playing field between enterprise companies and growing SMEs by making building business applications more affordable. And it rapidly speeds up the time it takes for apps to go from idea to deployment.
Facts About the Top Low Code Platforms
When it comes to finding the right low code platform out there, you have options. These are the facts about the top low code platforms and how to choose the best one.
24. There Are Plenty of Low Code Platforms to Choose From
There are a lot of high-quality low code platforms out there offering a range of packages to support your business. These platforms have the ability to lean on prefabricated builds to push your business apps live faster or create new apps directly on the platform. These are the top 10 low code platforms out there right now:
- Zoho Creator
- Track Via
- Salesforce App Cloud
25. Low Code Adoption Is Easy
Low code has very few barriers to entry. All you need to do is reach out to a low code provider, speak with a low code specialist, or contact a value-added reseller that works with these platforms. They'll walk you through how their service can help your growing business and what steps you'll need to take to start building the custom applications you need to remain competitive.
- Custom Business Applications,
- Inventory management,
- Process Improvement,
- Procure to Pay,