Bavaria – a strong industrial location with a future
Bavaria is a successful industrial location. According to a recent study from Prognos AG on the behalf of vbw, the State will be able to take on a leading role thanks to its strong industry even in the coming decades.
Over a quarter of Bavaria's total value creation is generated by the processing industry, giving the state the fourth-highest industrial density in the world. Vehicle construction and mechanical engineering; medical, measurement and control technology; the manufacture of electrical equipment; all these are the highest-volume and fastest growing business sectors in Bavaria. More than 50% of exported industrial goods come from this sector alone, with important destinations being other EU states, the USA, and China in particular. With its sector orientation and sales markets, the Bavarian industry's positioning is excellent.
The experts from Prognos AG see great opportunities for the processing industry to continue to operate successfully in the future. The global demand for industrial goods will continue to rise, especially in emerging countries. Bavarian companies with their competitive products and presence in growth markets can profit from this significantly.
According to the study, digitization will have a critical influence on the further development of the industry. Industry 4.0 enables more efficient production processes and allows new hybrid business models to arise from industrial goods and digital services. Future trends like this open up unexpected opportunities for companies. As such, seizing the chances offered by digitization is pioneering for the Bavarian industry. The State of Bavaria supports and decisively shapes digitization with BAYERN DIGITAL. BAYERN DIGITAL secures future prospects, jobs and long-term wealth. This will make Bavaria the leading region of the blossoming digital era.
You can find the vbw study “Industriestandort Deutschland und Bayern 2030” (industrial location of Germany and Bavaria 2030, German only) here.