Streamlining Software Development with Low Code in 2023
In this Article:
3. IoT Apps
Non-tech professionals will create 80% of products and services in the IT-sphere by December of 2023. More and more businesses have begun to incorporate low-code development.
The need for developers is increasing 5x faster than the ability to find and hire them. The price tag as well as the gap in the supply and demand market only quicken the adoption of low code.
Many top companies have already implemented low code for automation, modernization, and product development. Let's see why and how low code is shaping tech transformation now and how it will continue doing that in the next few years.
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In 2018, Kaneka Malaysia, a massive manufacturer, started automating minor management processes using low-code solutions. By 2021 low code was used to cover the whole cycle of management over materials, scheduling, and cooperation with third parties. The company has an app developed with low code — they use it to arrange deliveries and manage data.
Automation is not a trend, it’s a must-have. Demands for optimization and speed of economic development are pushing the process. The cost of automation will reach $720 billion in 2023 — with more than half spent on automation done with low code. Consider this: traditional automation requires time, staffing, and expertise. Companies that choose low code may start small and upscale automation without additional expenses.
A postal service PostNL daily manages almost seven million letters, a million of packages and handles supplies delivery to 18 million customers. The company was growing and getting more clients, but PostNL's legacy system could take only 600 000 packages daily.
It took two quarters for PostNL to build 64 microservices entirely on a low code. The massive microservices landscape wiped out two years of backlog in half a year and retrofitted the system with services dedicated to every delivery stage. Now the company is expanding its capabilities and range of services using low code as a core power.
As companies grow and develop, the urge to modernize monolithic systems becomes stronger. Nowadays, half of the microservices use low code to accelerate the development rate. By 2024 the number will increase to 58%.
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Before 2021, WRSTBND, a large entertainment business, managed clients and events manually via Excel and inefficient apps.
WRSTBND worked with IoT and had the need to process and analyze large volumes of data received from customers. With low code, gathering all the information would be smooth and easy. So in 2021, WRSTBND got several apps created with low code. The IoT turnstiles app was a fast and effective way to cover data coming from different sources. In fact, it generated more than a $600,000 increase in average tickets.
Such technology as low code is an indispensable part of working with enormous amounts of data. Companies can create apps that will integrate with any IoT platform, system, or service to get a supply of customer data, insights, or statistics. In 2030, the IoT market will reach almost 25 billion devices — the more users, the more need for a fast and effective way to cover them.
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The Canadian Bank (BDC) estimated that it would take three years to deploy a new system instead of an outdated and slow one. Fortunately, BDC changed the plan and decided to go with low code.
The new approach decreased the delivery time to eight months, significantly cut expenses, and only a third of people from the original estimate needed to be involved in the project. The new system downsized processing time by 80% — the result BDC only dreamed about.
The need for modernization of decade-old features will always be relevant and pricey if companies ignore advances. Companies can use low code for work with legacy code and give the developers time to focus on new features or business logic.
Virtual Modeling Platforms
Virtual modeling (or low-code) platforms already give an intuitive and easy way to develop business solutions of different complexity:
Custom Mobile and Web Apps;
Portals for clientele;
Improvements of legacy code;
In the near future, the list may also include more advanced services such as Artificial Intelligence and Machine Learning (ML) to provide even more comprehensive solutions. The platforms and low-code services will also provide secure and reliable products as well as improved scalability and flexibility. The interest in such services will grow together with their capacities — more than half of enterprises will count on low-code development and consider it to be one of the main strategic application venues.
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The Bottom Line
The business world embraced the idea that low-code development allows them to avoid hiring third-party companies, outsourcing developers, or hiring additional specialists. This new approach provides a much-needed boost to independence and preserving funds. Therefore, following Gartner, the global low-code development technologies market will grow 20% in 2023, since demand creates supply.
Since low code development is an emerging trend for this year, it’s time to jump into this carriage to create robust solutions at a fraction of the cost and time. If you’re looking for the appropriate starting point - let us know. Let’s discuss your digital transformation journey with XME.fast code platform.