Bitkom: Corporate Data Trading Poised for Boom

According to a recent study, the German economy is on the verge of catching up in the trading of corporate data and its use for business models.

Within two years, data-driven business models will contribute very strongly or even exclusively to the success of nearly half of the 605 companies surveyed, according to a survey published Wednesday by the digital association Bitkom. This represents almost a doubling compared to the present. "The German economy is sitting on a treasure trove of data--and more and more companies are setting out to unlock it," said association president Ralf Wintergerst. He cited Siemens' plans to develop industrial artificial intelligence (AI) using its own data as an example.

The proportion of companies purchasing data on specialized marketplaces is expected to nearly double to 75 percent in the coming years, the study's authors wrote. The share of providers is set to almost quadruple to 59 percent. "The public sector is also called upon to make data available," Wintergerst emphasized. "The responsible use of data creates economic and societal value that we cannot afford to forgo."

However, domestic companies are lagging behind in implementing the European "Data Act," which regulates the handling of data from local consumers and businesses. Only five percent have fully or largely implemented the requirements. Nearly a third have not even started. About two-thirds of companies complain about a high or very high bureaucratic burden. Here, policymakers need to step in to support the economy, Wintergerst urged. The "Data Act," passed in 2023, will come into force next September.

(Reporting by Hakan Ersen, edited by Sabine Wollrab. For inquiries, please contact our editorial team at [e-mail] (for politics and economy) or [e-mail] (for companies and markets).)