ZEW - Centre for European Economic Research

01/15/2024 | Press release | Distributed by Public on 01/15/2024 02:04

Thriving ICT Sector: More Jobs and Innovators // ZEW Study on the Situation of the ICT Sector in Germany

ZEW Study on the Situation of the ICT Sector in Germany

The information and communication technology (ICT) sector is flourishing: The employment figures have risen to a new high, the start-up rate and innovator rate are among the best compared to other sectors and nominal turnover is higher than ever before.

The information and communication technology (ICT) sector is flourishing. Employment reached an all-time high and the sector boasts leading start-up and innovator rates in comparison to other industries. Additionally, the nominal turnover soared to an unprecedented 315 billion euros. Thanks to its dynamic development, the ICT sector is making an above-average contribution to both overall economic growth and Germany's future competitiveness. This is the result of a recent study conducted by ZEW Mannheim on behalf of the Federal Ministry for Economic Affairs and Climate Action.

"The sector's total turnover surged by twelve per cent compared to the previous year, reaching a new peak of almost 315 billion euros. This follows a partial recovery from the pandemic-induced decline in 2020. However, the overall high inflation in 2022 also pushed up the turnover figures," comments Dr. Thomas Niebel, the author of the study and a researcher in ZEW's "Digital Economy" Unit.