Germany’s 4th industrial revolution in the spotlight
This year’s Hannover Messe has been dedicated to the theme of Germany’s ‘4th Industrial Revolution’. To mark the event, ING published the report ‘The German technology industry: opportunities in a more open supply chain’. This study looks at the emerging opportunities for Dutch companies within the nation’s highly competitive supplier markets.
The Hannover Messe, the world's largest industrial fair, was opened by Chancellor Angela Merkel on 6 April, offering more than 220,000 visitors and 6,500 participants the chance to showcase their products and network for business. The Netherlands has been named the ‘Partner Country’ of the event and will use the exhibition to promote its trading credentials.
To mark the event, ING’s Economics Department has prepared a report in cooperation with the Dutch technology association FME-CWM, entitled ‘The German technology industry: opportunities in a more open supply chain’. The study looks at the emerging opportunities for Dutch companies within the nation’s highly competitive supplier markets. It examines its transition towards renewable energy and its government’s ambitious ‘Industrie 4.0’ strategy for the high tech sector.
The report considers the best approach for Dutch businesses entering the German market for the first time, which may also apply to similar sized businesses from other countries. German markets are fiercely competitive and other German-speaking countries, namely Switzerland and Austria, already enjoy an important presence there. Even so, there are more instances of German companies outsourcing their supply chains overseas, most significantly, for goods and services related to specialist mechanical and electrical engineering.
The report notes that the ingredients for business success in Germany are reliability, predictability, flexibility and efficiency. It also concludes that public authorities, trade associations and business clusters have an important role to play in helping Dutch businesses take the initial steps and increase their visibility.
During the Messe, ING will be involved in various sessions aimed at Dutch and German customers. As part of its TEDxpartnership, it is also sponsoring TEDx innovation pitches that help bring Dutch innovations to the attention of Messe visitors.
Arnold Koning, Sector Management General Industries at ING, will elaborate on ING’s report at the event on 10 April.