target audience: TECH SUPPLIER Publication date: Sep 2023 - Document type: Market Forecast - Doc Document number: # EUR151076523
European Financial Applications Market Forecast, 2023-2027
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Abstract
This IDC Market Forecast provides analysis and sizing of the European financial applications market for 2020–2022 and forecasts for 2022–2027. The European financial applications market increased in 2022 to reach $10.1 billion, with revenue increasing 10.2% above 2021's $9.2 billion. This study analyzes the functional market by deployment model (software as a service and on-premises/other), country, and subregion (Western Europe [WE] and Central & Eastern Europe [CEE]).
"The European financial applications market is being driven by migration to the public cloud for more efficient and effective financial management across the enterprise. As demands from finance departments move beyond conventional financial accounting, software providers need to be innovative in further enhancing features within applications that offer finance leaders confidence, advice, and greater opportunities to support broader operational activities reliant on the credibility of financial data," Charles Aladesuru, research analyst, IDC European Financial Applications.