At 10.1% CAGR, Europe Trade Promotion Management Software Market is Projected to be Worth US$ 832.65 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe trade promotion management software market was valued at US$ 385.16 million in 2022 and is expected to reach US$ 832.65 million by 2030, registering a CAGR of 10.1% from 2022 to 2030. Rise in expenditure on trade promotion management, growing need for software solutions and digitalization of trade promotion operations are among the critical factors attributed to the Europe trade promotion management software market expansion.

The trade process is subject to be technology-enabled. In the present scenario, spreadsheets and Microsoft Excel are used to prepare the budget for trade promotion activities. The need for trade promotion management software is rising to optimize promotion expenditure incurred by end user companies. The software can collect and interpret promotional data completely and draw valuable insights such as incremental lift, ROI, total volume, and funds spent on consumer goods salespeople and marketing. As a result, the use of connected platforms comprising processes such as planning, trade, retail, finances, budgeting, and distribution is growing. Also, consumer goods companies provide continuous development regarding capabilities in trade promotion planning by executing stable and server-based trade promotion management solutions or hybrid solutions between on-premises and cloud-based applications. In the case of consumer goods, retail, or e-commerce companies, the development of a trade promotion strategy is key to boosting top-line revenue while maintaining customer loyalty. Therefore, companies such as Accelytics help create a connected environment among enterprises by taking leverage of their trade promotion management and supply chain expertise. The company assists an end user in identifying trade processes, as well as realizing the company's value and maximizing it. Accelytics claims that by using its Anaplan technology, an end user can generate a lucrative trade promotion strategy that produces greater ROI and offers excellent customer experiences. Anaplan is a platform with an Excel-type functionality that offers more flexibility. Thus, the presence of trade promotion management software providers in the market helps target end users to utilize trade promotion management software to boost revenue, which drives the market growth.

On the contrary, preference for spreadsheet and sell-out based payments hampers the growth of Europe trade promotion management software market.

Based on component, the Europe trade promotion management software market is bifurcated into solution and services. The solution segment held 85.5% share of Europe trade promotion management software market in 2022, amassing US$ 329.25 million. It is projected to garner US$ 724.19 million by 2030 to expand at 10.4% CAGR during 2022–2030.

In terms of deployment type, the Europe trade promotion management software market is bifurcated into cloud and on-premise. The cloud segment held 69.6% share of Europe trade promotion management software market in 2022, amassing US$ 267.88 million. It is projected to garner US$ 609.04 million by 2030 to expand at 10.8% CAGR during 2022–2030.

Based on application, the Europe trade promotion management software market is bifurcated into large enterprises and SMEs. The large enterprises segment held 61.9% share of Europe trade promotion management software market in 2022, amassing US$ 238.33 million. It is projected to garner US$ 489.06 million by 2030 to expand at 9.4% CAGR during 2022–2030.

In terms of industry vertical, the Europe trade promotion management software market is segmented into retail & consumer goods, pharmaceutical, IT and services, manufacturing, and others. The retail & consumer goods segment held 59.1% share of Europe trade promotion management software market in 2022, amassing US$ 227.77 million. It is projected to garner US$ 523.62 million by 2030 to expand at 11.0% CAGR during 2022–2030.

By country, the Europe trade promotion management software market has been categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 29.7% share of Europe trade promotion management software market in 2022. It was assessed at US$ 114.55 million in 2022 and is likely to hit US$ 217.63 million by 2030, exhibiting a CAGR of 8.4% during 2022–2030.

Key players operating in the Europe trade promotion management software market are Wipro Ltd; PSignite Group Inc; Aera Technology; TELUS; o9 Solutions, Inc.; Oracle Corp; SAP SE; UpClear; Anaplan Inc; and Aforza Inc; among others.

• In July 2023, PSignite, a leading provider of Trade Promotion Optimization (TPO) and Revenue Growth Management (RGM) solutions, announced an exclusive partnership with Salesforce 360 for Consumer Goods. The goal of this partnership is to provide customers of Salesforce with a TPO offering that integrates with Salesforce's Trade Promotion Management (TPM) solution.

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