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LOW CODE NO CODE - THE INDIA STORY March 2022

March 4, 2022 5324 6 Emerging Tech

LOW CODE NO CODE - THE INDIA STORY March 2022

The report covers insights from 60 LCNC providers and adopters which can help enterprises in deciding how to pursue this opportunity. It also analyzes the nascent Indian Low Code No Code market, and how stakeholders together can make a big difference to realize the full market potential.

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     Key Highlights -

  • The maturing Global LCNC Market
    • At $13.8 Bn in 2021, Global Low-Code Development Industry is expected to grow at a CAGR of 28.1% from 2021-2025
    • Low-code application platforms (LCAP) account for majority of the market with LCAP and RPA/Process Automation applications being the highest growing segments in 2021
    • BFSI, Healthcare and Hi-tech sector are the leading adopters of LCNC with Form/Data Collection, Workflow & Process Automation being the top Use Cases
  • The Nascent Indian LCNC Market
    • India’s LCNC market crossed $400 Mn in FY21 growing at a CAGR of 15% since FY19
      • 70% of revenues from global markets
      • The market currently has ~150 LCNC players, with majority players being bootstrapped start-ups
      • BFSI, Retail, SaaS are the leading adopters
      • Indian IT companies partners with LCNC providers to accelerate digital transformation
  • Survey Insights – Key Benefits Realized by Adopters
    • 3X-7X reduction in Development &
    • Deployment Time
    • 3X-5X reduction in Cost of Development
    • 1.2X-1.5X Increased Productivity
    • 30%-35% increase in ROI
  • Outlook
    • Digital first enterprises will continue to drive adoption and growth of low code no code

India has the potential to generate $4.0-$4.2Bn revenues from LCNC by FY25 in an optimistic scenario, accounting for ~10% of the global market

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