Leading digital industry association Bitkom has forecasted robust growth for the digital industry in Germany in 2024. According to Bitkom, the German information technology and communications market is expected to grow by 4.4 percent next year, outperforming projections for the country’s overall GDP. This growth follows a 2 percent increase in 2023, with the industry reaching EUR 215 billion in revenue.
Bitkom President Ralf Wintergerst highlighted the resistance of companies in the sector to economic crises, stating, Even under difficult business conditions influenced by geopolitical crises and budget cutbacks, turnover and employment are rising. Digitalization is the answer to the current challenges faced by the economy, society, and the state.
The industry’s positive outlook is further supported by surveys which indicate that 22 percent of companies in the sector plan to increase investments. Additionally, the growing popularity of home offices and the increasing demand for cybersecurity are contributing to the sector’s growth.
Marc Rohr, director of the digital and service economies at Germany Trade & Invest, emphasized the importance of the digital industry’s solid foundation and increasing demand for digital solutions, particularly in the areas of artificial intelligence and system infrastructure. He stated, It’s an important foundation for international investments in Germany as a business location.
Germany Trade & Invest, the German government agency for international business promotion, plays a crucial role in facilitating business between international and German companies.
The projections for the digital industry’s growth in Germany indicate a positive trajectory amidst challenging economic conditions. The sector’s resilience, coupled with the increasing demand for digital solutions, signifies the evolving landscape of the German economy. As businesses continue to navigate these transformations, the digital industry is set to play a crucial role in driving growth and innovation.
