The general demand for its LCNC solutions in India is growing on par with global markets as more organizations adopt digital solutions but continue to suffer from a technical talent deficit, said Charles Lamanna, corporate vice president, power platforms group, Microsoft.
LCNC is a set of tools that developers can use to build applications in a visual drag-and-drop interface, including a complete user interface, integrations, data management, and for logic.
Microsoft Power Platform consists of several core components, including Power BI, Power Apps and Power Automate.
Power Apps is a low-code tool which uses pre-built features, business logic and workflow capabilities to digitise processes.
“There are amazing IT skills and capabilities in the India market. We have seen a lot of uptake from system integrators and IT consultancies who use Power Platforms to build new solutions for companies around the globe,” Lamanna said.
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The company also sees the BPM sector adopting LCNC solutions across automation and efficiency improvement solutions, he added.
In April, Microsoft said Power Platforms had crossed $2 billion in annual revenue, at a growth rate of over 70% year on year.
Indian IT service providers and startups generated over $400 million in revenues during the fiscal year 2021 from LCNC software solutions, according to a report by industry body Nasscom.
Some of Microsoft’s Indian customers in this space include Piramal Capital & Housing Finance, Mphasis, Royal Enfield, Magicrete, Keventer Agro and Senco Gold.
The worldwide market for low-code development technologies is projected to touch $26.9 billion in 2023, an increase of 19.6% from 2022, the latest forecast from Gartner Inc showed.
By 2026, Gartner predicts that developers outside formal IT departments will account for at least 80% of the user base for low-code development tools, up from 60% in 2021.
“So, we see that 75-80% of users are citizen developers within Microsoft Power Platform and about 20-25% are professional developers or IT professionals,” Lamanna added.
