Specialized service providers

Development of the industry economy

The German services market developed significantly weaker in 2019 than originally expected by service companies. The average sales growth of service providers operating in Germany was in the high single digits at 7.8% in 2019. Compared with the previous year, however, this was a decline of 4.1%. The trend from previous years was therefore not continued. There are many reasons for this: trade tensions, structural crises, and restrained investment led to a focus on basic operations and existing structures.

The year 2020 has also shown its challenging side under the influence of Covid-19. But the IT services industry even sees an opportunity in the current situation. This is because topics such as digital sales channels, digital workplaces, and the increased use of cloud solutions can now be driven forward.

  • Missed investments in building digital platforms are being made up for
  • Lack of IT specialists and low levels of experience in application lead to high demand

References

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