Germany is Number 1 in the “Bloomberg Innovation Index 2020”
Germany is number 1 in the “Bloomberg Innovation Index”. A positive signal. The top position comes primarily from a strong focus on research & development by the automotive industry and a competitive high-tech mechanical engineering. However, there is still some catching up to do in education and training, and there is still room for improvement in Germany for innovations in the service sector.
All insights at: Innovation Index 2020
Germany’s Innovation Sectors: Top in Automotive, High-Tech and Mechanical Engineering
Germany’s top position in the Bloomberg Innovation Index results, among other things, from a good assessment of the factors: R&D spending, production capacity, patent applications and the density of high-tech companies. The automotive industry in particular invested billions of euros in research and development. Future fields such as autonomous driving and electric mobility play a particularly important role here. But the ability to produce in high-tech mechanical engineering was also rated positively.
Weaknesses in Higher Education, little Innovation in the Service Sector
The service sector in Germany still shows little innovative power compared to other countries, even though the trend towards innovative services is moving. There is great potential here for investments in research and development in order to tap existing market potential with innovative offers. At the same time, another field of innovation is building opportunities beyond the disruptive automotive industry. In this way, challenges such as climate change and trade conflicts can be tackled with a variety of strong industries.
In higher education, Germany is occupying another “black spot” that should come into focus in the near future. The density of researchers here is a metric that is higher in other countries.
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