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Germany’s market for technology solutions is poised for growth

June 1, 2022
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Why this is important to Wisconsin businesses: Wisconsin is well-known for its university programs in computer and information sciences and is home to a booming tech sector.

With Germany’s economy expected to return to pre-pandemic levels in 2022, the country’s digital and electronics industries are forecasting above-average growth.

Germany’s information and communications technology (ICT) market will grow by 3.6% to $208.5 billion USD in 2022, according to the digital association Bitkom. In addition to cybersecurity, the government’s priorities include digitizing the German economy and expanding the German broadband network.

Germany’s ICT market already is among the largest in the world, and Germany is the top market for software in Europe, with 94,300 IT companies and an estimated 1 million employees in 2021.

The convergence of manufacturing and Industry 4.0 and the development of the Internet of Things (IoT) offer significant new opportunities for technology companies. The country also provides a startup-friendly environment with an extensive network of business incubators, numerous potential partners and government support. There is strong demand for U.S. products and services in all segments. Key players such as Microsoft, Apple, Dell, Adobe, IBM, Oracle and SAP hold large market shares. In 2021, revenues amounted to $48.2 billion in IT services, $38.1 billion in IT hardware and $32.5 billion in software sales.

The biggest trade opportunities for U.S. companies are in the IT security sector, which is the second largest growth market in Europe. Health IT also offers opportunities, since experts expect consolidation and fundamental changes in the near future. In addition, strong growth is expected in the market for artificial intelligence, smart social business platforms and industry-specific enterprise resource planning solutions. Big data systems, such as hardware, database and analysis technologies, will continue to play an important role in the digital transformation of the German economy as well.

With its growing demand for solutions in fields like IT security, health IT and Industry 4.0, Germany offers many opportunities for technology companies based in Wisconsin.

Germany also hosts some of the most important ICT trade shows, making it a prime marketplace for U.S. companies to expand their global network. Europe’s leading trade fair for IT security is it-sa, taking place Oct. 25-27, 2022, at Exhibition Centre Nuremberg.

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