How IIoT Is Booming In Germany – Doubling Business Volume till 2022: Study
The Industrial Internet of Things (IIoT) market in Germany will increase by 19 percent of turnover annually until 2022 and will reach 16.8 billion euros volume. As the Germany industry 4.0 market is already one of the largest worldwide, this is expected to more than double in the next five years. These are some of the core outcomes of the IIoT study “The German Industrial IoT market 2017-2022“, conducted by eco, an association of the German internet economy, and consulting company Arthur D. Little.
IIoT growth 19 percent per year – Automotive, mechanical and plant engineering largest sectors
The IIoT study examined the main market trends and focused on seven industry sectors in total. The predicted overall future growth is almost 19 percent per year. By 2022 the turnover could reach up to 16.8 billion euros. The largest market segment in the field of IIoT, automotive industry, is growing fastest by 20.2 percent. As well in the mechanical and plant engineering sector will be strong growth at 18.9 percent per year. Both industries in common represent more than 50 percent of the IIoT market in Germany.
Main driver for growth in the next few years will be progressively the digitization of currently analog production and delivery processes. In international comparison, the German IIoT market is exceptionally ahead, especially both with its broad and innovative industrial structure and high robot density.
With IIoT to more flexibility – Security for IT and production essential
The adoption of Industrial IoT solutions will companies meet the growing demand to increase flexibility to delivery, as well as prepare themselves for the future with business models basing on “as a service“ supply.
Continuous cooperation with other companies is the main key to success. IIoT solutions are made up of around 30 competencies. Due to the IIoT study, a major requirement is the secure exchange of data volumes shared by the ecosystems’ participants. Extensive security concepts are required to avoid any security gaps in the communication system and IT and to any control remote access to the production system.