Germany's Digital Economy to Break EUR 200 Billion Mark

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Jan 11, 2023, 09:07 ET

The German digital sector will smash its previous record for turnover in 2023, predicts the country's leading digital industry association.

BERLIN, Jan. 11, 2023 /PRNewswire/ -- Digital is doing extremely well in Deutschland. That's the conclusion of a study by industry organization Bitkom. It calculates that digital business in Europe's largest economy will be worth EUR 203.4 billion this year. That represents a year-on-year increase of 3.8 percent. It would be the first time turnover has passed the 200-billion-euro mark.

Bitkom also predicts 4.8 percent global growth in the sector, with total value reaching more than 4.3 trillion euros. The United States currently dominates digital industry with 35.7 percent of the world market. It's followed by China, Japan, Britain and Germany.

"The digital sector in Germany continues to enjoy stable growth and is excellently positioned internationally," says Asha-Maria Sharma, digital expert at Germany Trade & Invest, the country's international business promotion agency. "The sector is at the heart of climate protection solutions, and new markets are opening up in a variety of areas, including mobility, health and production. Software and in particular artificial intelligence are two pillars. So there are many reasons for both international and domestic companies to expand."

Germany Trade & Invest (GTAI) is the economic promotion agency of the Federal Republic of Germany. GTAI supports German companies setting up in foreign markets, promotes Germany as a business location and assists foreign companies setting up shop in Germany.

Contact:

Jefferson Chase
Senior Manager, Communications
Germany Trade & Invest
Friedrichstraße 60
10117 Berlin
+49 30200099170
[email protected]

SOURCE Germany Trade & Invest