There is always talk about a european market, but it is more like 27 markets with one access ticket.
You have 27 languages, 27 cultures, 27 political systems, 27 markets, 27 levels of development and infrastructure. Although you have a market of 300 million consumers, they all have different spending habits, different spending power, different needs...
America is one market of 300 million people, with roughly the same culture, the same language, the same laws and political system and has been exporting it's language and power through out the last 100 years, so your market is probably double the size of your population.
There is also success stories of european players: Zalando, Delivery Hero. Sap has some very innovative departments, but their Reputation all in all is shite, yes.
Also most of souther europe doesn't have the get rich quick mentality. They live by "dolce vita" - the good life. Nobody is gonna be bending over backwards here to become a millionaire anytime soon. They happily live with 20k€ a year and their families and Relationships.
I still hate the shitty software we make here in europe/germany but we are working hard here to improve that. And if a european company tells you they offer a API or Service, they probably wont shut it down because it went out of falvour this month.