It Market In Germany 2024-2028: Increased adoption of IT solutions among German SMEs demand Fuels Growth
The it market in germany size by End-user (Manufacturing, Government, BFSI, ICT, and Others), Application (Large enterprise and SMEs), and Geography (Europe), is forecast to increase by USD 31.1 billion. The market is expected to grow at a CAGR of almost 4.07% between 2024 and 2028.
The German economy is predominantly driven by Small and Medium-sized Enterprises (SMEs), also referred to as the Mittelstand, which comprise over 99% of the total enterprise count in the country. These businesses, ranging from sole proprietorships to those employing hundreds, export their goods and services globally. German SMEs are renowned for their innovative approach, with a focus on product and process advancements. They invest substantially in IT to remain competitive and adopt cutting-edge technologies such as cloud computing, Big Data, and IoT. The primary objectives of these investments include reducing IT infrastructure expenses, deriving valuable business insights from enterprise data, and optimizing production efficiency and business processes.
Access the full report to know about market driving, challenges and trend factors
In the German economy, the manufacturing sector plays a pivotal role as a major revenue generator. Germany is home to some of the world's leading automotive and engineering companies, with numerous small- and medium-sized enterprises (SMEs) also present in these sectors. Technology is driving innovation within German manufacturing companies, transforming traditional production facilities into smart digital factories. Key features of these factories include automated procurement, manufacturing, and distribution processes. This digital transformation not only boosts productivity but also enhances production flexibility and quality. German manufacturing companies are embracing IT to remain competitive and stay at the forefront of industry advancements.
In the German IT market, large enterprises held a significant market share in terms of application type in 2023, driven by the digital transformation trend. This transition enables large enterprises to streamline business processes efficiently and cost-effectively. With the increasing deployment of advanced technologies like IoT, AI, and big data, the complexity of IT infrastructure necessitates a robust framework for seamless coordination, adaptability, and data protection. The BFSI and manufacturing sectors, among others, are expected to fuel the growth of the large enterprise segment throughout the forecast period due to their increasing digital transformation initiatives.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
