Germany's industrial IoT market to double in five years, study finds

Friday 24 November 2017 | 11:22 CET | News

Germany's industrial IoT economy will grow 19 percent per year over the next five years and more than double to bring in revenues of roughly EUR 16.8 billion in 2022, according to a new study from Eco, an association for digital industries in Germany, and management consultancy Arthur D. Little. The study looked at seven segments and the six most important trends in the industrial IoT market.

Within the industrial IoT market, the study found that the automobile industry, already the largest industrial IoT segment in Germany today, will grow the fastest at 20.2 percent per year, followed by machinery and plant engineering at growth rates of 18.9 percent per year. Both sectors together make up over 50 percent of the entire industrial IoT market in Germany today. Above all, the ongoing digitisation of analogue production and supply processes will be a main driver for growth, said Eco.

The industrial IoT market in Germany is already highly developed thanks to broad and innovative industry structure and the large number of robots available, found Eco.

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