IT Market in Germany 2019-2023
About this market
The increased adoption of cloud-based services is one the key factors expected to trigger the IT market in Germany during the forecast period. German enterprises are restructuring their businesses for surviving and succeeding in this digital age. Cloud-based solutions help German enterprises in revamping their business models by leveraging modern technologies including Big Data, AI, and IoT, while providing a robust platform for the digital transformation of their businesses. Cloud-based solutions often offer cost-effectiveness, flexibility, and scalability to the enterprises, thus, boosting the IT market in Germany. Technavio’s analysts have predicted that the IT market will register a CAGR of close to 3% by 2023.
Digital infrastructure in Germany
One of the growth drivers of the IT market in Germany is the digital infrastructure in Germany. Germany is investing in the development of a country wide connected infrastructure to facilitate information storage in centralized systems and real time exchange of data across departments. As a result, the demand for IT and services in the country is high.
Shortage of skilled IT professionals
One of the challenges in the growth of the IT market in Germany is the shortage of skilled IT professionals. Lack of skilled IT professionals in the areas of cloud, AI, Big Data, and IoT can severely impact the digital transformation initiatives of German enterprises, which will hamper the growth of the IT market in Germany.
For the detailed list of factors that will drive and challenge the growth of the IT market in Germany during 2019-2023, view our report.
The market appears to be highly fragmented with the presence of several market players. German enterprises are expanding their business overseas by using Big Data tools to optimize their production, logistics, and sales processes. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report-IT market in Germany 2019-2023
Technavio recognizes the following companies as the key players in the IT market in GERMANY: Accenture, IBM, Microsoft, SAP SE, and T-Systems International GmbH.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing adoption of Big Data solutions.”
According to the report, one of the major drivers for this market is the increased adoption of cloud-based services.
Further, the report states that one of the major factors hindering the growth of this market is the lack of high-speed connectivity.
AccentureIBMMicrosoftSAP SET-Systems International GmbH
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