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, market across Asia-Pacific is projected to portray the fastest CAGR of 25.8% during the forecast period.
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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 on to achieve growth in the coming years.
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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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.
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.
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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.
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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Covid-19 Scenario:
- The Covid-19 majorly affected the growth of the market due to rapid adoption of connected devices to support remote working and growth of the e-commerce sector.
- However, the pandemic created crisis in social, economic, and energy areas and medical life.
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