According to Gartner, Low-Code Application Platforms are having the highest impact NOW (0 to 1 Year) on Enterprises as business enablers by changing practices, processes, methods, models, or functions fast and without constraints.

Other Predictions from Gartner:

• 50% of medium to large enterprises will have adopted an Enterprise Low-Code Application Platform, as one of their strategic platforms by 2023.
• In 2021, overall IT Budget spending is $3.41 Trillion
• Legacy Modernization is approximately 16% of the IT Budget or $546 Billion (Legacy Modernization would have the same split in spending as all IT Budget (assumption)
• Forecasted IT Spending (2021) for Enterprise Software is $700 Billion (worldwide)

This will happen as time-to-market is crucial to put companies one step ahead of their competition. When organizations look to rebuild existing applications using traditional code, they often cannot justify the investment because of the time and cost involved. The reason why companies are investing in agile software methodologies. When ‘building software fast’, assuring the quality of the delivery can end up being a real challenge if it is not addressed correctly, compromising the final product and customer satisfaction.