OutSystemsPerspectives

OutSystems Revenue Breaks Records in 2016: Low-Code Market Growing

At OutSystems, we’re excited to dive into 2017 after a year of record growth in every aspect of our business: sales, partners, employees and customers. Although we are proud of those accomplishments, there’s a bigger story here than just OutSystems revenue and expansion. The low-code development market is growing faster than ever. And, clearly, low-code development is widespread. We’re excited about what that means for 2017.

Let’s take a quick look at what went on.

Low-Code Tackles Major Industry Pains

Low-code platforms address two of the most critical issues facing global app dev teams today – time and talent. We hear from app dev managers all the time that their backlogs are growing. Almost simultaneously, they tell us the resources to build apps are scarce and the competition for development talent is at an all time high. And we think that our success in 2016 demonstrates our leadership in helping them address these pains.

Last year, we reached $100 million in sales, and 178 new enterprise customers are now experiencing the tremendous value our low-code platform provides. We’re proud to say we now work with companies in 43 countries around the world, expanding our reach by more than 30 percent.

Growing Ecosystem

Another great success story in 2016 was the growth of our partner and developer network.  Companies whose businesses are built on delivering applications are embracing low-code development, too — from large global systems integrators to regionally focused vendors. They are ramping up their low-code centers of excellence, because low-code platforms help them be more agile and deliver solutions to their clients faster.

We formalized a global alliance with Deloitte S.A. and tripled the number of solution partners we have in Europe and Asia to include enterprises like Hewlett Packard. At the same time, more than 40,000 new developers joined the OutSystems Developer Community. They contributed low-code apps, widgets and components and increasing advocacy.

Supporting Our Global Customer Growth

To support our customers and growing business, we added 200 employees, including executive hires in sales, marketing and partner management. In fact, OutSystems was recognized by Forbes in 2016 as one of the Top 6 Cloud Companies to work for.  With over 500 employees globally, we’re ready to keep innovating our technology and providing the best service to our customers around the world. 

In addition to the tremendous market momentum, low-code platforms like OutSystems are gaining prominence with industry experts and technology publications:

  • The Forrester Wave™: Low-Code Development Platforms, Q2 2016 named us a leader in low-code. Gartner named us a visionary in the Gartner June 2016 Magic Quadrant for Mobile App Development Platforms and the March 2016 Magic Quadrant for Enterprise Application Platform as a Service, Worldwide.
  • We won the SIIA CODiE Award for Best Mobile Development Solution 2016, the award for Best Software Solution. We also won a CIO Award for customer CP Kelco at the CIO MidMarket Forum.The Financial Innovation Award for customer Banco BPI’s GoBanking App, and the Most Promising Business Application Platform from NWA Information Management Awards 2016 underscored our innovation.
  • The NetworkWorld Asia 2016 Readers’ Choice/Rising Star Awards selected us as Rising Star for Application Development and Lifecycle Management. In addition, APAC CIO Outlook magazine recognized us as as one of the 10 most promising finance technology solution providers in 2016.

Onward to 2017

Our growth is thanks in large part to surging global demand for faster, more efficient ways to build enterprise applications and, of course, happy customers. Driving that demand is the need for digital transformation. Our CEO, Paulo Rosado, calls it “One of the biggest opportunities and challenges facing today’s businesses.” In fact, in a recent statement he explained that digital transformation is putting companies under pressure to build more business applications faster and with fewer resources than ever before.

So, we had a great year. But we think 2016 was just a warm-up for 2017. Therefore, we’re continuing to develop every aspect of OutSystems to help organizations like yours build enterprise-grade apps and transform their business faster. Last October we took an important step in that direction when we launched OutSystems 10, the first low-code application development platform with advanced capabilities for enterprise mobile applications.

This year we’re looking forward to continued growth and innovation in the low-code development space. Low-code solutions are taking over the traditional application dev market. It’s clear it’s going to be a great year for low-code platforms.

 

 

 

About the author

Steve Rotter

Author, blogger, and evangelist, Steve has been leading innovative marketing teams for over 20 years. As CMO of OutSystems, he is the brand champion and leads integrated marketing and communications initiatives worldwide. He has volunteered on advisory boards for several non-profit organizations including World Vision and A Child’s Right.

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