Market Size of Europe Business Software Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 59.75 Billion |
| Market Size (2029) | USD 84.29 Billion |
| CAGR (2024 - 2029) | 7.12 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Business Software Market Analysis
The Europe Business Software Market size is estimated at USD 59.75 billion in 2024, and is expected to reach USD 84.29 billion by 2029, growing at a CAGR of 7.12% during the forecast period (2024-2029).
- Digitalization and online data collection have increased companies' requirements for data analysis, consumer reviews, and business processes. This development is driving demand for enterprise software, particularly business intelligence BI. In addition to BI, the business software area also includes software for Enterprise Resource Planning ERP, Customer Relationship Management (CRM), and Supply Chain Management (SCM).
- 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.
- Moreover, enterprise software offers a variety of benefits, such as managing workflows through a single integrated platform, eliminating the need for multiple systems, improving data quality and reducing data duplication through automated processes, and enabling customers to manage employee health and view data online.
- Global Enterprise Software companies invest in Europe, which results in a rise in demand for the software market. For instance, in December 2023, Better Software Group, based in Poland, announced a strategic partnership with Evergent to enhance customer experiences across the digital media and entertainment landscape. The strategic partnership will deliver superior customer relationship management and user experiences for European streaming and digital subscription businesses.
- 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 essential cloud migration quickly.
