Dublin, Feb. 25, 2019 (GLOBE NEWSWIRE) -- The "Rapid Application Development Market by Type (Low-code and No-code), Tool (Mobile-based, Web-based, Desktop-based, and Server-based), Business Function, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The RAD market is expected to grow from USD 7,760.0 million in 2018 to USD 46,164.4 million by 2023, at a CAGR of 42.9% during the forecast period.

Software engineering has evolved progressively since its inception in 1940s. The methods for building applications have evolved and become better over a period of time. The constant goal to improve technologies and their development practices has enhanced the productivity of business practitioners and quality of applications. Rapid Application Development (RAD) has emerged as a highly interactive application development approach that helps build software applications rapidly.

In today's increasingly competitive marketplace, enterprises have to optimize their performance and processes. The RAD environment helps organizations develop faster and high-quality applications. However, technological developments and user-friendly cloud environments such as Platform-as-a-Service (PaaS), Infrastructure-as -a-Service (IaaS), and Everything-as-a-Service (XaaS) have driven the business mobility on a large scale.

This has broadened the scope for the software development domain with the rising Bring your own Device (BYOD) trend, wherein employees can use their personalized devices for the business purpose. Software application development has been in existence since ages, and has significantly enabled the technology industry in the past decade. RAD is a mix of 2 development platforms i.e. the low code development and the no-code development, wherein coders as well as non-coders can create applications based on the inbuilt features with the help of the simple drag-and-drop functionality.

Companies save a lot of time and money as non-coders can develop applications with the help of minor coding knowledge. This has provided better benefits to various enterprises in real time. The major factor for the accelerated adoption of RAD tools includes the supportive technology infrastructure, along with increased need for customized software solutions.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Rapid Application Development Market
4.2 Market By Deployment Model, 2018
4.3 North America Market, By Component and By Type
4.4 Market Share Across Regions

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need for Rapid Customization and Scalability
5.2.1.2 Enterprise Mobility to Drive the Adoption of Smartphones in Businesses
5.2.1.3 Elimination of Gaps in the Required IT Skills
5.2.2 Restraints
5.2.2.1 Dependency on Vendor-Supplied Customization
5.2.3 Opportunities
5.2.3.1 Growing Digital Transformation in the IT Industry
5.2.4 Challenges
5.2.4.1 Legacy Software in Need of Upgradation
5.3 Use Cases
5.3.1 Use Case # 1: Enhancing the Legacy System to Deliver Faster Business Transactions and Reduce Costs
5.3.2 Use Case # 2: Enhancing the Agile Approach for Higher Customer Satisfaction
5.3.3 Use Case # 3: Green-Screen Legacy System's Transformation to Modern Web-Based Applications
5.4 Regulatory Implications
5.4.1 Payment Card Industry Data Security Standard
5.4.2 Health Insurance Portability and Accountability Act
5.5 Future Outlook
5.5.1 Application Development With Advanced AI, ML, and Automation

6 Rapid Application Development Market, By Type
6.1 Introduction
6.2 Low-Code Development Platforms
6.2.1 Organizational Need to Develop Customer-Centric Applications
6.3 No-Code Development Platforms
6.3.1 No-Code Development Platforms to Benefit Non-Developers in Designing Applications Without Coding

7 Rapid Application Development Market, By Component
7.1 Introduction
7.2 Tools
7.2.1 Mobile-Based
7.2.1.1 The Increase in the Number of Mobile Device Users Calls for More Mobile-Based Applications
7.2.2 Web-Based
7.2.2.1 Increasing Automation and Advancements in Technologies, Such as IoT, AI, and ML
7.2.3 Desktop-Based
7.2.3.1 Increasing Demand for Simplifying the Development Process to Streamline IT Operations
7.2.4 Server-Based
7.3 Services
7.3.1 Professional Services
7.3.1.1 Support and Maintenance
7.3.1.1.1 The Need for Technical Support and Assistance
7.3.1.2 Deployment and Integration
7.3.1.2.1 The Need to Integrate Vendors' Systems and Customers' Systems With Minimum Deviations to Meet the Requirements
7.3.1.3 Consulting
7.3.1.3.1 The Benefit of Improving the Performance of the Deployed RAD Platforms

8 Rapid Application Development Market, By Business Function
8.1 Introduction
8.2 Sales and Marketing
8.2.1 Increasing Need to Build Applications
8.3 HR and Operations
8.3.1 The Need to Maintain A Record of Operational Activities, Employees' Attendance, and Their Involvement in Other Departments
8.4 Finance
8.4.1 The Need to Streamline Accounting Processes and Procedures, Payrolls, Travel and Reimbursements, Tax, and Budget, and Reporting Applications
8.5 IT
8.5.1 The Increasing Need for File Sharing, Data Security and Storage, Email and Collaboration, and Infrastructure and Network Management Applications

9 Rapid Application Development Market, By Deployment Model
9.1 Introduction
9.2 Cloud
9.2.1 Scalability, Flexibility, and Reliability Benefits
9.3 On-Premises
9.3.1 Need for Highly Secure Operating Environment

10 Rapid Application Development Market, By Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.2.1 The Need for Cost-Effective Solutions to Meet Budgets and Lead to Business Growth
10.3 Large Enterprises
10.3.1 The Need to Manage Huge Heaps of Accumulated Data Over A Public Or Private Cloud

11 Rapid Application Development Market, By Industry Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.2.1 The Need to Deliver Enriched Customer Experience Using New Financial Products and Services
11.3 Manufacturing and Automotive
11.3.1 The Need to Face Challenges in Quickly Delivering Goods
11.4 Retail and Consumer Goods
11.4.1 The Need to Understand Real-Time Customers' Behavior for Improving Decision-Making Skills
11.5 Telecommunications and IT
11.5.1 Organizations' Need for Many Application Development Solutions
11.6 Government and Public Sector
11.6.1 Rapidly Digitizing Governments and Increasing Need for Web- and Mobile-Based Applications
11.7 Healthcare
11.7.1 The Need for Applications That Monitor Patients' Condition and Related Critical Information
11.8 Media and Entertainment
11.8.1 The Need to Exponentially Increase the Popularity of Media and Entertainment Creates A Need for New Applications
11.9 Education
11.9.1 Increasing Adoption of Online Education Creates Opportunities for Mobile- and Web-Based RAD Platforms
11.9.2 Others

12 Rapid Application Development Market, By Region

13 Competitive Landscape
13.1 Competitive Leadership Mapping
13.1.1 Visionaries
13.1.2 Innovators
13.1.3 Dynamic Differentiators
13.1.4 Emerging Companies
13.2 Strength of Product Portfolio
13.3 Business Strategy Excellence

14 Company Profiles
14.1 Microsoft
14.2 AWS
14.3 Oracle
14.4 IBM
14.5 Google
14.6 Salesforce
14.7 Appian
14.8 Zoho Corporation
14.9 Kissflow
14.10 Outsystems
14.11 Mendix
14.12 Lansa
14.13 Kony
14.14 ORO
14.15 Matssoft

For more information about this report visit https://www.researchandmarkets.com/research/7zz6nt/rapid_application?w=12

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