By Sean Michael Kerner
Competitive marketplace for low code shows promise for AI
The overall market for low-code development tools is forecast to be worth $16.8 billion in 2022 according to a Gartner research forecast. Gartner expects the total market for low code to reach $20.4 billion by 2023.
Looking out even further, Gartner has forecast that it expects a whopping 70% of all new applications developed by companies will use some form of low-code approach by 2025. In contrast, the analyst firm reported that in 2020 fewer than 25% of organizations were using low-code to build new applications.
The vendor marketplace for low-code technologies is crowded: Sstartup Sway.ai launched its no-code platform for helping users to build AI powered applications in February. In the same month, startup Mage launched its low-code AI dev tool which helps organizations to generate models. Cogniteam announced its latest low-code AI updates on May 9, with a focus on robotics. Other established vendors in the low-code space include Appian and Mendix, both of whom have varying degrees of AI enablement capabilities.
“Low-code represents the primary growth area for AI-driven application development atop a complicated web of services and data sources,” Jason English, principal analyst at Intellyx LLC told VentureBeat. “Bringing down the technical barrier to entry allows business expertise to be applied for ML training, automation and inference tasks.”
