Software development in the digital era is often challenged by skilled developer shortages, technical debt, and shadow IT. Low-code\no-code (LCNC) platforms hold a promise to fix these problems and accelerate enterprise digital transformation concluded GlobalData as it tracked wide-scale, patent grants in the space, recorded a 19.6% growth between 2015 and 15 December 2021.
With IT technologies continuing to evolve, IT teams are required to rely on experts to embrace digitalization. Darshana Naranje, a senior disruptive tech analyst at GlobalData, noted that conventional custom scripts often fail to match the speed and agility of business requirements.
“This has led to a significant growth in LCNC patent filings and grants over the last five years where technology followed by financial services were the sweet spots across industries,” she added.
Research focus areas in technology include LCNC platform development for content generation, web hosting, enterprise resource planning (ERP) systems, dialogue systems, game software, and spreadsheet-based software, while financial services encompassed LCNC platform development for financial transactions, investments, and customer relationship management (CRM) systems.