The Low-Code / No-Code Market: Key Statistics and Trends
By 2024, 75% of companies worldwide will use at least 4 no-code tools. By offering turnkey solutions for automation and developing applications without requiring coding skills, no-code and low-code tools are booming. We explore a market poised for exponential growth in the coming years.
Good to know
- $251 billion: that's the low-code / no-code expected market value by 2030
- North America will account for 48% of the low-code / no-code market's growth between 2022 and 2026 - e.g. $27.4 billion value created in the next 5 years
- In 2021, US companies accounted for 85.6% of the funds raised in the low-code / no-code sector in the world
- Canadian companies raised $225.9 million in 2021 in the low-code / no-code industry, making Canada the country which received the second most investment
The low-code / no-code market should reach $251 billion by 2030
Low-code and no-code tools are used more and more by companies looking to accelerate their digitization and modernization efforts. According to many estimates, the market for these platforms should generate nearly $251 billion worldwide by the end of the decade - meaning the market value would grow by 8 times between 2022 and 2030 (from $29 billion today).
Sources: GlobeNewswire, Statista
$225.9 million raised in Canada in 2021 in the low-code / no-code industry
North American companies are at the edge of low-code / no-code innovation. This is what appears when looking at the funds raised in the world in 2021. The numbers show that:
- With $5.43 billion funds raised in 2021, the only US companies account for 85.6% of the money raised in the low-code / no-code industry in the world
- In 2021, Canada is the second country with the second most funding raised in the low-code / no-code industry: $225.9 million, representing 3.6% of the total funds raised in the world
- As a whole, the European Union companies have raised a total amount of $301.8 million in 2021 in the low-code / no-code sector
- UK companies followed with $138.6 million raised
Source: Alegria 2021 Nocode Baroscope
Marketing, IT and sales departments became more than 50% dependent on no-code tools
The booming development of no-code tools in recent years has made more corporate departments dependent on them. According to a report published by Zapier, 8 core corporate departments are now more than 50% dependent on no-code tools, particularly :
- IT operations, estimated to be 63% dependent on no-code tools in 2022
- Product & development (61%)
- Research & development (58%).
Source: Zapier data report (March 2022)
Our methodology
In addition to its expert editorial line around insurance and financial products, HelloSafe explores broader topics relating to global consumption in Canada and around the world. The aim is to decipher certain complex subjects for consumers and to provide everyone with the latest information. It is within this framework that HelloSafe regularly carries out studies on trends relating to current personal finance in Canada.
The report is based on a wide array of expert sources on the topic, including Statista, AppMySite, UserGuiding, Zapier, Alegria Group, Developers Nation and Research & Market. All amounts are presented in Canadian dollars.
About HelloSafe Canada
HelloSafe is Canada's leading platform for comparing insurance and personal financial products. HelloSafe provides Canadians with hundreds of free, anonymous and quick comparison tools and calculators built on powerful proprietary technology. Up-to-date content from experts accompanies all our comparison tools. Our platform empowers you to make the best decisions with your money and find the right products at the right price.
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Nolwenn Abolivier
Press relations and communication officer