Enterprise Software - EU-27

EU-27

Revenue in the Enterprise Software market is projected to reach US$42.09bn in 2024.
Customer Relationship Management Software dominates the market with a projected market volume of US$12.37bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.80%, resulting in a market volume of US$53.22bn by 2029.
The average Spend per Employee in the Enterprise Software market is projected to reach US$187.60 in 2024.
In global comparison, most revenue will be generated in the United States (US$150.50bn in 2024).

Key regions: France, United Kingdom, Australia, Canada, South Korea

Definition:

The Enterprise Software market covers software applications designed to support essential business activities by large organizations such as enterprise resource planning, customer relationship management, business intelligence, and supply chain management.

Products in the Enterprise Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Structure:

The Enterprise Software market contains eight markets that are based on the functionality of the software:

Business Intelligence Software refers to software applications that support organizations to analyze, visualize, and report data.
Content Management Software refers to a wide range of software applications that support organizations to manage their digital content such as documents, images, and videos.
Customer Relationship Management Software refers to software applications that support organizations to manage their interactions with customers, clients, and prospects.
eCommerce Software refers to a wide range of software applications that support organizations to manage their online sales channels.
Enterprise Performance Management Software refers to software solutions that help organizations to manage and improve their performance across various areas, such as finance, operations, and strategy.
Enterprise Resource Planning Software refers to software applications that support organizations to manage, integrate and optimize important business activities related to resources such as people, finance, capital, materials, and orders.
Supply Chain Management Software refers to software applications that support organizations to manage their supply chain activities such as inventory optimization, supplier and vendor management, and logistic operations.
Other Enterprise Software refers to aggregated revenues for the types of enterprise software that are not specifically mentioned in the other Enterprise Software markets, such as Project Management Software, Product Life Cycle Management Software, and Production and Operation Software.

Additional Information:

The Enterprise Software market comprises revenue and revenue growth as the key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in this market include SAP, Salesforce, Adobe, and Oracle.

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Analyst Opinion

The Enterprise Software market in EU-27 has been experiencing steady growth in recent years, driven by a number of factors including increasing adoption of cloud computing, digital transformation initiatives, and the growing need for data analytics.

Customer preferences: Customers in the EU-27 region have shown a strong preference for enterprise software solutions that are flexible, scalable, and easy to use. Additionally, there is a growing demand for software that can be accessed remotely, as businesses increasingly rely on remote work and collaboration.

Trends in the market: One key trend in the EU-27 Enterprise Software market is the growing adoption of cloud-based solutions. This trend is being driven by a number of factors, including the need for greater flexibility and scalability, as well as the growing popularity of remote work. Another trend is the increasing focus on data analytics, as businesses seek to gain insights into their operations and make more informed decisions. Additionally, there is a growing demand for software solutions that can help businesses manage their digital transformation initiatives, as they seek to modernize their operations and stay competitive in the digital age.

Local special circumstances: There are a number of local special circumstances that are impacting the Enterprise Software market in the EU-27 region. For example, the region's strict data privacy laws are driving demand for software solutions that can help businesses comply with these regulations. Additionally, the region's diverse business landscape means that software vendors must be able to cater to a wide range of industries and business sizes.

Underlying macroeconomic factors: The underlying macroeconomic factors driving the growth of the Enterprise Software market in the EU-27 region include the region's strong economy and high levels of technological adoption. Additionally, the region's focus on innovation and digital transformation is driving demand for software solutions that can help businesses stay competitive in the global marketplace. Finally, the region's highly skilled workforce and strong education system are providing a strong foundation for the development and adoption of cutting-edge software solutions.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.