These are very ambitious growth targets for many companies. Interestingly, our survey shows that the expectations of SME’s do not differ from the estimate of large groups.
Moreover, the results of the study reveal that companies with a more digitized product portfolio have already experienced above average growth in recent years. Nearly 70% of all companies with highly digitized products have achieved growth of more than 6% to 10% per year in the last three years, many of them even more than 10%. It must also be expected that this trend will gain additional momentum going forward. By contrast, half of the companies with a medium level of digitization have only achieved an increase in revenues of 5% per year or less.
The companies surveyed expect considerable growth in revenue across all industry sectors thanks to industrial internet solutions. The anticipated increase in revenue of manufacturing and engineering, automotive suppliers, the electronics industry and the information and communications industry amount to 13% to 14%. Only the process industry has much more moderate revenue expectations at around 8%, cumulated over five years.