LONDON--(BUSINESS WIRE)--Technavio has been monitoring the IT market in Germany since 2016, and the market is poised to grow by USD 13.92 billion during 2019-2023, progressing at a CAGR of close to 3% during the forecast period. Request Free Sample Pages
Read the 130-page research report with TOC on "IT Market in Germany Analysis Report by end-users (manufacturing, government, BFSI, ICT, business services, and other sectors), by category (IT services, software, and IT hardware), and segment forecasts, 2019 - 2023."
The market is driven by the increased adoption of IT solutions among German SMEs. Also, government support for IT solutions such as artificial intelligence (AI) is anticipated to boost the growth of the IT market in Germany.
A majority of companies in Germany comprise of small & medium enterprises (SMEs). These SMEs are exploring new avenues to generate revenue and enhance their operational efficiency. This is encouraging them to invest heavily in IT solutions to ensure smooth business operations by staying abreast of the latest technologies. They are using software and IT services to replace their manual processes with digital workflows. Thus, the increased adoption of IT solutions among German small & medium enterprises is expected to drive market growth during the forecast period.
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Major Five IT Market in Germany Companies:
Accenture is headquartered in Ireland and owns and operates businesses under various product segments such as communications, media, and technology, financial services, healthcare and public services, products, and resources. The company offers Accenture applied intelligence.
IBM is headquartered in the US and manufactures and offers products through the following business units: cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. The company provides IBM Watson.
Microsoft is headquartered in the US and has business operations under various segments, namely productivity and business processes, intelligent cloud, and more personal computing. The company offers Microsoft dynamics ERP.
SAP SE is headquartered in Germany and owns and operates businesses under various product segments such as applications, technology, and services, SAP business network, and customer experience. The company offers SAP S/4HANA cloud.
T-Systems International GmbH
T-Systems International GmbH is headquartered in Germany and manufactures and offers products through various business units. The company provides enterprise cloud solutions that offer virtualization of IT networks and making it flexible.
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IT Market in Germany End-users Outlook (Revenue, USD Million, 2019 - 2023)
- Banking, financial services & insurance (BFSI)
- Information & communications technology (ICT)
- Business services
- Other sectors
IT Market in Germany Category Outlook (Revenue, USD Million, 2019 - 2023)
- IT services
- IT hardware
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