BERLIN, June 26 (Xinhua) -- Revenue in the German IT and telecommunications industry is expected to increase by 4.3 percent to around 225 billion euros (240.3 billion U.S. dollars) in 2024, the country's digital association Bitkom said Wednesday.
"By the middle of the year, stable growth is in sight for Germany's digital economy, although not all companies will benefit equally from this positive development," Bitkom said. Consumer electronics, however, will see "no trend reversal" and falling sales this year.
As in previous years, revenues in information technology (IT) are expected to rise significantly. The segment will generate 151.2 billion euros in turnover in 2024, up 5.4 percent year-on-year, according to the association forecast. Software sales will also see a strong increase as artificial intelligence is "growing massively."
In the digital sector, a stable overall development is expected despite a difficult environment this year, said Bitkom President Ralf Wintergerst, calling on the German government to avoid causing additional uncertainty through market intervention and disproportionate regulation.
Bitkom expects global turnover in IT and telecommunications to rise by 6.4 percent to 4.82 trillion euros in 2024, with China ranking second with a market share of 10.9 percent, following the United States and followed by Japan.
According to the association, the IT sector in Germany will see its employees totaling 1.41 million by the end of 2025. This is despite a study by the German Economic Institute in February which forecast a shortage of 128,000 skilled workers in the country's digital professions by 2027. (1 euro = 1.07 U.S. dollar)
