For 10 years now, Accenture has been extensively analyzing the development of Germany’s largest companies. This year, Accenture looks back at the decade 2007-2017. Which industries matured and expanded over that period? What strengths do companies at the top of the German economy demonstrate? Where are the weaknesses of the top companies compared to global competitors? Accenture’s most recent analysis of Germany’s top companies aimed to answer these and other questions.
SWITCH TO THE GERMAN VERSION
4 insights about the future of the German economy
- Top500 – Gain strength through digital innovation
The German economy has to ensure that its automotive industry maintains its worldwide leadership position. However, the industry is facing an imminent change in technology, as well as value chain disruption. New services and value propositions for a forward-looking mobility must be developed now. One example is vehicles that drive autonomously without causing accidents. Related to this is the development of new business models based on intelligent products and smart services. The German automotive industry will only be able to defend its pole position if it develops new capabilities in digital technologies, including artificial intelligence.
It is imperative that the leading industries in Germany – with the automotive industry leading the way – defend their top positions on a global level. That is especially true since new competitors from China and the United States are likely to go on the offensive with disruptive business models. However, the German industry’s odds are not bad. The Industrial Internet of Things is just now being developed. Data generated from it has a much higher value than data from social media or e-commerce platforms. The opportunity for German industry lies in scalable digital products and services that offer new, personalized experiences for their customers. If companies can achieve this, the famous quality statement “Made in Germany” will turn into the digital quality label “Operated by Germany.” The German economy needs an ambitious plan that specifies the milestones required for setting up a national infrastructure with global reach – similar to China’s roadmap, but with content that reflects Germany’s culture, value systems and economic basis. A “Digital Germany 2025” plan would mark a major step forward on this journey.