The Europe trade promotion management software market is expected to grow from US$ 385.16 million in 2022 to US$ 832.65 million by 2030. It is estimated to grow at a CAGR of 10.1% from 2022 to 2030.
As a result, consumer goods and other industries should spend on trade promotion tools to keep retailers and manufacturers earning more revenue. This use of trade promotion management solutions can create demand for software to keep them running efficiently. Moreover, the trend of e-commerce is prevailing heavily and gaining high momentum among diversified industries. Gen X spends more time on online websites and tends to be loyal customers.
This factor encourages the companies to put additional emphasis on marketing and trade promotion, which is another factor encouraging consumer goods, retailers, and other sectors to invest substantially in trade promotion activities. Due to the above-mentioned factors, the companies have an opportunity to target this generation for online promotions. To manage the promotions, the need for trade promotion management solutions will rise, which is anticipated to create numerous opportunities for the trade promotion management software market growth in the coming years.
In Europe, changing consumer behavior, external influences, and industry dynamics contribute to the growth of the trade promotion management software market. Hybrid shopping rise in discounters, stagnating mass market, the emergence of e-grocery, competition in digital areas, and stringent regulation are among the factors boosting the growth of the fast-moving consumer goods companies in Europe. These factors will encourage retailers and consumer goods companies to invest significantly in advanced marketing techniques using promotional methods.
In addition, the region houses leading and large consumer goods companies such as Nestlé, Procter & Gamble, Unilever, PepsiCo, Anheuser-Busch InBev, Mondelèz International, The Coca-Cola Company, L'Oréal, Danone, and Kraft Heinz Company, which hold significant share in the FMCG sector in terms of sales. To maintain their position in the market, these companies use sophisticated and advanced promotional tools to generate greater revenue with higher ROI while making the best of their investments. Therefore, considering the above parameters, the trade promotion management software market is gaining traction in the region.
Focus on Online Promotions Drives Europe Trade Promotion Management Software Market
The category of users is widespread and is playing a huge role in impacting the growth of industries such as retail, consumer goods, IT, and healthcare. Pertaining to the fact that Generation X and Millennials generation account for ~35- 40% of the global population, retailers and consumer goods manufacturers are offering these generations more choices and lower prices. Hence, the leading and well-established retailers and manufacturers are working on new promotional activities to retain customers from these generations. Loyalty programs, discounts, and traditional and social ads are a few of the techniques used by companies to maintain their customer base.As a result, consumer goods and other industries should spend on trade promotion tools to keep retailers and manufacturers earning more revenue. This use of trade promotion management solutions can create demand for software to keep them running efficiently. Moreover, the trend of e-commerce is prevailing heavily and gaining high momentum among diversified industries. Gen X spends more time on online websites and tends to be loyal customers.
This factor encourages the companies to put additional emphasis on marketing and trade promotion, which is another factor encouraging consumer goods, retailers, and other sectors to invest substantially in trade promotion activities. Due to the above-mentioned factors, the companies have an opportunity to target this generation for online promotions. To manage the promotions, the need for trade promotion management solutions will rise, which is anticipated to create numerous opportunities for the trade promotion management software market growth in the coming years.
Europe Trade Promotion Management Software Market Overview
Germany, Russia, France, the UK, and Italy are the major countries in Europe. The countries are known for large-scale industrialization. Thus, they hold great potential for adopting advanced solutions that boost the productivity of various industrial and urban processes. European countries are concentrated with prominent industries such as retail & consumer goods. In addition, Norway, Finland, Sweden, the Netherlands, Denmark, and Switzerland are the other European countries that have made robust contributions to the technological advancements of the region, which is anticipated to bolster the trade promotion management software market in Europe in the coming years.In Europe, changing consumer behavior, external influences, and industry dynamics contribute to the growth of the trade promotion management software market. Hybrid shopping rise in discounters, stagnating mass market, the emergence of e-grocery, competition in digital areas, and stringent regulation are among the factors boosting the growth of the fast-moving consumer goods companies in Europe. These factors will encourage retailers and consumer goods companies to invest significantly in advanced marketing techniques using promotional methods.
In addition, the region houses leading and large consumer goods companies such as Nestlé, Procter & Gamble, Unilever, PepsiCo, Anheuser-Busch InBev, Mondelèz International, The Coca-Cola Company, L'Oréal, Danone, and Kraft Heinz Company, which hold significant share in the FMCG sector in terms of sales. To maintain their position in the market, these companies use sophisticated and advanced promotional tools to generate greater revenue with higher ROI while making the best of their investments. Therefore, considering the above parameters, the trade promotion management software market is gaining traction in the region.
Europe Trade Promotion Management Software Market Segmentation
The Europe trade promotion management software market is segmented into component, deployment type, application, Industry vertical, and country .- Based on component, the Europe trade promotion management software market is bifurcated into solution and services. The solution segment held a larger share of the Europe trade promotion management software market in 2022.
- In terms of deployment type, the Europe trade promotion management software market is bifurcated into cloud and on-premise . The cloud segment held a larger share of the Europe trade promotion management software market in 2022.
- Based on application, the Europe trade promotion management software market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger share of the Europe trade promotion management software market in 2022.
- 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 the largest share of the Europe trade promotion management software market in 2022.
- Based on country, the Europe trade promotion management software market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Germany dominated the Europe trade promotion management software market in 2022.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Europe Trade Promotion Management Software Market Landscape
5. Europe Trade Promotion Management Software Market - Key Industry Dynamics
6. Trade Promotion Management Software Market - Europe Market Analysis
7. Europe Trade Promotion Management Software Market Analysis - Component
8. Europe Trade Promotion Management Software Market Analysis - Deployment Type
9. Europe Trade Promotion Management Software Market Analysis - Application
10. Europe Trade Promotion Management Software Market Analysis - Industry Vertical
11. Europe Trade Promotion Management Software Market - Country Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- Wipro Ltd
- PSignite Group Inc
- Aera Technology
- TELUS
- o9 Solutions, Inc.
- Oracle Corp
- SAP SE
- UpClear
- Anaplan Inc
- Aforza Inc
