German IIoT market to double by 2022
Germany’s Industrial IoT market retains a world-leading position: According to a new study, the sector is set to grow by approximately 19% per year.21 Dec 2017 Marie-Lucine Tapyuli
In international comparisons, the German Industrial Internet of Things (IIoT) market, with its broad and innovative industry structure and high robot density, is one of the biggest Industry 4.0 markets in the world. That’s according to the study "The German Industrial IoT market 2017-2022. Facts and Figures" conducted by eco – Association of the Internet Industry e.V. and market research company Arthur D. Little.
The study also concluded that the German IIoT market is expected to more than double in the next five years, reaching approximately €16.8 billion in 2022. The main driver of this growth is the progressive digitization of analog production and delivery processes. The forecast predicts that the automotive industry – already the largest segment today – will be the fastest-growing segment, with growth of 20.2%. Strong growth is also expected for machinery and plant engineering, at a rate of 18.9% per year. Together the two segments therefore make up over 50% of Germany’s entire IIoT market.
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