Gartner: Low-Code Tech is Projected to Grow to Nearly $27 Billion in 2023

An ongoing dearth of tech talent and an increasing number of business technologists are driving an increase in low-code development technologies, which are projected to total $26.9 billion USD worldwide in 2023, an increase of nearly 20% from 2022, according to a recent forecast from Gartner. Business technologists work outside of IT and create tech or analytics capabilities for internal or external business use. Low-code application platforms are projected to be the largest component of the low-code development technology market, growing 25% to reach nearly $10 billion USD in 2023. Gartner predicts that by 2026, developers outside formal IT departments will account for at least 80% of the user base for low-code development tools, which is up from 60% in 2021. Other key drivers that will accelerate the adoption of low-code technologies through 2026 include an increasing number of enterprise-wide hyperautomation and composable business initiatives, the firm said.