India’s low code no code market stands at $400 million, can touch $4 billion by 2025: Nasscom report

Mumbai: Indian IT service providers and startups generated over $400 million in revenues during the fiscal 2021 from low code no code (LCNC) software solutions, found a report by industry body Nasscom. This market can grow to $4 billion by 2025 with the right levers, the report launched in collaboration with IT firm Nagarro said. Almost 70% of the revenue generated by Indian companies from this segment has come from global markets.

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 logic.

LCNC is going to be a disruptive force for the tech industry along with code written by AI, said Manas Fuloria, co-founder Nagarro, speaking at the launch. “Low code/ no code technology has the potential to completely transform the entire face of our industry. The good news is that a lot can be done very efficiently with low code, no code and it becomes easier to unseat old, established solutions and do things in all new innovative ways,” he said.

These solutions are expected to drive massive growth with leading tech companies tapping the regional markets with these solutions specifically for sectors like ecommerce and manufacturing, in India. Gartner has projected low-code application platforms (LCAP) will be the largest component of the low-code development technology market through 2022.

Fuloria added that one of the key benefits of the technology is that it does not need hardcore developers, who are difficult to find. “You can do a lot with just smart people.“

“Companies have received better outcomes and increased productivity which is over 1.5x and the majority of the organizations highlighted a 30-35% increase in ROI is what they see when they use low or no goodwill versus the traditional way of development,” said Neha Jain, manager, strategy, and research at Nasscom.

The report also found that companies experienced upto 75% reduction in development time and 65% reduction in costs with LCNC solutions. Indian platforms in this space include Hubbler, Appy Pie, ToolJet among others. These providers generally work with IT service providers to implement the solutions for businesses. India’s largest IT services firm Tata Consultancy Services has won 24 such deals in the third quarter of the current fiscal. Peer Infosys is also hiring talent specifically for these solutions.

The Indian LCNC market currently comprises around 150 players with most of them being bootstrapped startups. However, a lack of solutions tailored for the needs of small enterprises and a lack of skills in usage of these solutions has been a deterrent in the large-scale adoption of this offering, said the report.

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