European Financial Applications Market Shares, 2023: Cloud Continues to Build Momentum

This IDC study provides sizing and vendor market shares of the Western Europe (WE) and Central and Eastern Europe (CEE) financial applications market for 2021-2023. This is an update to the previous report in which IDC examined the two markets as a combined European market. The study segments the market by function, deployment model (PCS and on premises), and region. It includes the respective top 5 tables, showing growth and relevant market share. "The European financial applications market is still going strong in 2023, with 10.2% year-on-year growth, fractionally surpassing its performance from the previous year. The market is continually evolving, as organizations embrace new innovative digital technologies and cloud-based solutions and finance departments across the globe are progressively moving away from a state of reactivity. In fact 40% of EMEA finance leaders indicate that they are 'improving proactively and identify new areas for improvement, secure funding and implement change' according to the IDC EMEA Enterprise Applications Survey, 2024. Digital transformation is a catalyst for helping organizations unlock new business opportunities aided by data decentralization and data visibility. Modern day finance leaders are leveraging the availability of financial and non-financial data to make data-driven decisions to better support corporate strategies." - Research Manager Charles Aladesuru, IDC European Enterprise Applications