European business software and services market is anticipated to grow at a CAGR of 9.0% during the forecast period (2021-2027). Onboarding supports new hires adjust to the social and performance aspects of their jobs so they can quickly become productive, contributing members of the organization. Thus, organizations are increasingly adopting onboarding software to increase the retention rate of their employees. For instance, L’Oreal, a French personal care company, supports onboarding with a two-year, six-part integration program called “L’Oreal Fit.” The program includes training and roundtable discussions, meetings with key insiders, on-the-job learning supported by line management, individual mentoring and HR support, and field and product experiences such as site visits and shadowing programs. Thus, such organizations are significantly implementing onboarding software.
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Companies move toward advanced technologies to reduce paperwork hassle is also a major factor that drives the market growth. Adoption of employee on-boarding solutions aids in reducing several expenses of the organization on the workforce. Moreover, relaxation of work and working hours is offered to the employees of the organization, which is another benefit carried out by some software including onboard. There is a rise in the adoption of automation across several organizations that supports escalating the demand for employee onboarding software. Onboarding software also supports the employee to get familiar with the environment of the organization and adapt to it easily and quickly. Implementation of Bring Your Device (BYOD) is also driving the adoption of employee software as the new employees have the freedom to carry their devices and access the data and information related to the team and organization independent of location and time.
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The demand for CRM solutions can be attributed to factors such as the expanding scope of digital operations, improving customer experience and services, and rising demand for automated customer engagement. Moreover, growing attempts to enhance business content and transform the organizational strategies from push to pull marketing is projected to encourage organizations to adopt customer relationship management (CRM) solutions during the forecast period. For instance, in March 2021, Rotary Corps and an outdoor power equipment supplier have announced a collaboration with cloud-based CRM provider workbooks to improve collaboration between teams and reduce costs. As a result, they were able to present a much more tailored solution, improved communication among the teams, and a better experience for customers.
Moreover, the increasing adoption of cloud services among SMEs, government organizations, and the defense sector owing to factors such as flexibility, cost-effectiveness, and scalability in resource utilization, data security, and lower technology risk, are some factors driving the growth of the market in the region. Apart from such growth-promoting factors in the market, several factors, such as data safety and security concerns, are expected to hinder the market growth.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Software
o By Service
o By Deployment Model
o By Size
o By End-User
- Competitive Landscape- SAP SE, Microsoft Corp, IBM Corp., and so on.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
European Business Software and Services Market Report Segment
By Software
- Finance
- Human Resource
- Sales and Marketing
- Supply Chain
By Service
- Consultancy Services
- Maintenance & Operational Services
- Managed Services
By Deployment Model
- On-Premise
- Cloud
By Size
- Small and Medium Enterprises
- Large Enterprises
By End-User
- Aerospace and Defense
- BFSI
- Government
- Healthcare IT and Telecom
- Manufacturing
- Retail
- Others
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
