Europe Business Software Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Market Size (2023)||USD 59.76 Billion|
|Market Size (2028)||USD 84.29 Billion|
|CAGR (2023 - 2028)||7.12 %|
*Disclaimer: Major Players sorted in no particular order
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Europe Business Software Market Analysis
The Europe Business Software Market size is expected to grow from USD 59.76 billion in 2023 to USD 84.29 billion by 2028, at a CAGR of 7.12% during the forecast period (2023-2028).
- Due to digitization and online data collection, companies' demands for data insights, consumer assessments, and business processes have increased. This development drives demand for Enterprise Software, particularly Business Intelligence (BI). In addition to BI, the Enterprise Software section includes Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Supply Chain Management (SCM) software.
- Business Software facilitates and connects data and processes across the enterprise. It also aids in cloud computing optimization and improves communication with clients, vendors, suppliers, employees, and customers.
- Furthermore, the Business software market is driven by the increasing penetration of artificial intelligence in the workplace to improve organizational productivity and efficiency. Task management with artificial intelligence Software can handle timetables, reminders, and follow-ups effectively and minimize the need for human inputs. They may also save humans time on numerous activities by ensuring nothing is overlooked.
- Global Enterprise Software companies invest in Europe, which results in a rise in demand for the software market. For instance, in July 2021, the German software giant SAP announced a EUR 250 million investment in the post-Brexit UK. The UK investment will likely further expand its market-leading position as a cloud-based solutions and services provider to assist organizations in the UK more efficiently.
- The COVID-19 pandemic accelerated digitalization, resulting in increased data collection and the need to analyze the data collected. It also increased digitalization to cope with the remote-working environment. Europe is at a crossroads in its digital transition with the cloud. The COVID-19 pandemic compelled European businesses to adopt basic cloud migration quickly.
Europe Business Software Market Trends
Customer Relationship Management Software Show Significant Growth in the Market
- The software provider owns and maintains the infrastructure to run a cloud-based CRM system. CRM software is run on computers by organizations using an internet connection. CRM companies keep and secure the organization's data on their premises. This prevents enterprises from incurring large upfront fees for creating the infrastructure required to store and safeguard all that data.
- The Business Software Market in Europe is expanding through Acquisitions. For instance, in June 2022, Eudonet a significant European provider of vertical CRM software for associations, governments and municipalities, higher education, and real estate. It is exciting to announce the purchase of Netanswer. The acquisition is expected to allow Eudonet to increase its investment in the Netanswer solution while providing existing customers with community management and animation tools.
- Cloud CRM enables enterprises to take a more holistic approach that improves customer experience outcomes through enhanced machine learning, sentiment analysis, and the ability to harness the emotional affinity between customers and the brand. Such considerations are expected to drive the use of Cloud CRM for regional businesses.
- Eudonet, in January 2022, a CRM (Customer Relationship Management) solutions publisher and integrator, reported an 11% organic increase in recurring revenue (SaaS) compared to 2020, accounting for 68% of the total income of more than EUR 25 million.
- Moreover, Eudonet also confirmed that Montagu was to become its majority stakeholder, as announced on November 3rd, 2021. This partnership, worth roughly EUR 150 million to Eudonet, continues and accelerates the company's growth strategy by investing in product development, new markets, and worldwide expansion.
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Germany is Expected to Witness Significant Growth in the Market
- German enterprise software companies are expanding the market by making Acquisitions. For instance, abas Software GmbH (abas), a leading provider of ERP software to German midmarket manufacturing companies, announced the acquisition of abas System GmbH, a value-added reseller of abas ERP serving northern and central Germany, and the establishment of Forterro Bulgaria Ltd., which will serve as a regional service center for abas ERP customers with operations in Eastern Europe.
- The Enterprise Software section includes all software used to support critical large-scale business activities on computing systems. This software tries to execute activities that only occur in professional B2B environments, such as Enterprise Resource Planning (ERP) or Customer Relationship Management (CRM), as well as Business Intelligence (BI) and Supply Chain Management (SCM).
- The ERP market is once again evolving with the times in the country. SAP, in particular, sees Software-as-a-Service and AI products as the next step in strengthening its stranglehold in European markets. Indeed, with the introduction of its S/4HANA and SAP Leonardo platforms, SAP has properly positioned itself to capitalize on future market trends. This is in addition to its aggressive acquisition strategy, including Gigya, a consumer profile and identity management company, and Altiscale, a start-up focused on big data applications.
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Europe Business Software Industry Overview
Europe Business SoftwareMarket is moderately competitive, with significant global and regional companies. These industry participants have a sizable market share and are focused on extending their client base globally. To gain a competitive advantage over the forecast period, these firms are spending on R&D to bring innovative solutions, strategic partnerships, and other organic & inorganic growth methods.
In May 2022, Google Cloud and SAP SE expanded their partnership, revealing new interfaces between Google Workspace and SAP's flagship cloud ERP, SAP S/4HANA Cloud.
In September 2021, HubSpot, the customer relationship management (CRM) platform for scaling businesses, announced that it increased its investment of USD 33 billion in the United Kingdom market by opening its first London office and committing to hiring employees across England, Scotland, Wales, and Northern Ireland, creating 70 new jobs and assisting the communities it serves in thriving post-pandemic.
Europe Business Software Market Leaders
Cisco Systems Inc.
*Disclaimer: Major Players sorted in no particular order
Europe Business Software Market News
- June 2023: SNP and Snowflake strengthened their partnership and launched the native app "Data Streaming for SAP" on the cloud. This new solution simplifies the fast and secure integration of SAP data into Snowflake for companies with SAP systems.
- June 2023: SAP launched a platform to standardize sustainability data. SAP's latest solution for providing standardized sustainability data builds on the experience of the technology giant, which was one of the founding members of Catena-X.
- May 2022: To aid major enterprises in implementing continuous innovation and shifting to the cloud, Accenture and SAP introduced a new collaboration solution. The new joint offering combined SOAR with Accenture services and RISE with a SAP solution. It was improved with features from Accenture's full transformation services, including specialized cloud services and proprietary intelligent tools delivered through a seamless as-a-service model.
- October 2021: Under their agreement, Zendesk was to buy Momentive, including the well-known SurveyMonkey platform. Due to the size of the customer bases of both companies and their complementary skill sets, there were excellent chances that their combined products would be adopted, increasing Momentive's enterprise traction.
Europe Business Software Market Report - Table of Contents
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Demand from SMEs
4.2.2 Move Towards Integrated Solutions Expected to Drive Demand
4.2.3 Cloud & Networking-Based Advancements
4.3 Market Challenges
4.4 Market Opportunities
4.5 Industry Attractiveness Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers/Consumers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Business Software Market
4.6.1 Move Towards Remote/Hybrid Working and Their Role in Driving Adoption of Software
4.6.2 Regional Drivers for Adoption & Pre vs Post-Pandemic Scenarios
4.7 Recent trends and innovations in Business Software
5. EUROPE BUSINESS SOFTWARE MARKET SEGMENTATION (Trends, revenue for the period of 2022-2027 & Market Outlook)
5.1 By Software Type
5.1.1 ERP Software
5.1.2 CRM Software
5.1.3 BI Software
5.1.4 Supply chain Software
5.2 By Deployment
5.3 By End-User Vertical
5.3.3 Public & Institutions
5.3.7 Other End-User Verticals (Telecom, Defense, etc.)
5.4 By Country
5.4.1 United Kingdom
5.4.9 Czech Republic
5.4.11 Rest of Europe
5.4.12 Further Breakdown by Software Type (CRM, ERP, BI & SCM to be included in the final study)
6. COMPETITIVE LANDSCAPE
6.1 Analysis of Top 10 ERP Vendors (with relative shares for major vendors) - SWOT, Strategies & Recent Developments
6.2 Analysis of Top 10 CRM Vendors (with relative shares for major vendors)
6.3 Analysis of Major BI Software Vendors (with coverage on their core competencies)
6.4 Analysis of Major SCM Vendors (with coverage on their core competencies)
7. INVESTMENT ANALYSIS
7.1 Recent Mergers & Acquisitions
7.2 Most Adopted Strategies
7.3 Gap Analysis
7.4 Analyst View
8. MARKET OUTLOOK
Europe Business Software Market Research FAQs
How big is the Europe Business Software Market?
The Europe Business Software Market size is expected to reach USD 59.76 billion in 2023 and grow at a CAGR of 7.12% to reach USD 84.29 billion by 2028.
What is the current Europe Business Software Market size?
In 2023, the Europe Business Software Market size is expected to reach USD 59.76 billion.
Who are the key players in Europe Business Software Market?
Accenture Plc, Cisco Systems Inc., Microsoft Corporation, SAP SE and IBM Corporation are the major companies operating in the Europe Business Software Market.
Europe Business Software Industry Report
Statistics for the 2023 Europe Business Software market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Business Software analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.