Sector/Technologies within Software to Invest In: No Code/Low Code

Platforms
The firms across the timeline are fond of Digital transformation and are compelled to
adopt such technologies to stay in the race. But these come at a cost. For example,
let’s take a D2C startup (which is growing rapidly in the country); building a highly
responsive website/application, building a custom CRM tool, and building an
automated marketing tool require a lot of capital and software professionals. This
amount of money and manpower can’t be afforded by the startups or the SME firms,
making them lose the race with the big and established players. Here comes the No
Code/Low Code platform, which democratises software development and accelerates
digital transformation across various industries.
The USP: The first and foremost advantage is that it empowers a non-software
professional to be involved in software-building without coding knowledge. This
democratization among businesses can leverage the creativity and problem-solving
abilities of a broader workforce, fostering innovation and breaking the confines of
software professionals. My background in finance has underscored the importance of
efficiency and cost-effectiveness, which these platforms provide.
Growth Potential: From Gartner's reports to Statista, the No Code/ Low Code
platforms will grow exponentially in the coming years. It is projected to experience a
compound annual growth rate of 28.1%, resulting in a five-year total market value of
$45.5 billion, which is a testament to that. “Thangam here write in terms of
financial expertise it is a highly profitable investment nu in two lines.”
Competitive advantage over traditional software development: Rapid
development and deployment - These platforms allow users to create applications
quickly, significantly reducing time-to-market. Cost efficiency - They minimize the
need for extensive coding skills and reduce dependency on specialized developers,
leading to lower development costs. Integration and scalability - No-code/Low-code
solutions often come with built-in connectors and scalability features, making it easier
to integrate with existing systems and scale as needed.
Future growth prospectus: With the growing automation in businesses, firms are
slowly moving from automation to hyper-automation, where every business process is
automated. This results in the overall operational optimization. The second is the
usage of composable software architecture, where the dynamic business requirement
is updated in the existing applications/tools agilely. Composable enterprises require
better reuse of existing packaged business capabilities (PBCs) for agile application
development and to create custom user experiences for new workflows and processes.
Both these new-age technologies require a high level of skilled manpower, time and
money, which can be avoided by the No Code/Low Code platforms, making the tech’s
future growth much stronger.