The Italian champions were beaten 2-0 at home on Wednesday night as they slumped to a 4-0 aggregate loss against their German counterparts.
"Bayern have been the strongest team," Conte told Sky Sports News. "In the last three years they reached two Champions League finals. The gap between us is obvious. We have done everything we could do."
Juve continue the defence of their Serie A title on Monday when they make the trip to Lazio.