Industries
Munich industries: a city-wide innovation hub
IT, cars, telecommunication, finances, green solutions, and much more: Munich has a particularly diversified mix of all important economic sectors. Here, we will give you an overview of the several big companies in Munich, Germany.
Munich: A major insurance and financial hub
Global leader in reinsurance:
Munich is the top global location for the reinsurance sector and Europe’s most important insurance hub. It is home to major DAX-listed companies Allianz and Munich RE, along with over 70 other insurance firms, including Swiss Re, Generali Deutschland, and the Bavarian Insurance Chamber.
Thriving insurTech scene:
Munich also has a growing InsurTech startup community.
Strong banking sector:
Munich hosts the headquarters of HypoVereinsbank/UniCredit and BayernLB. Key funding institutions like Bayerische Landesbodenkreditanstalt and LfA-Förderbank Bayern are also based here.
Munich in pole position: Automotive and mobility
Munich’s economy and labor market are heavily influenced by the automotive and mobility sectors. Major players have their headquarters here, making them significant regional employers.
Many companies are world-renowned, such as BMW and MAN, as well as Siemens Mobility, Sixt, FlixMobility, the Munich Transport Corporation (MVG), and even the city utility company’s traffic department.
Furthermore, the Original Equipment Manufacturers (OEMs) are particularly known for their cutting-edge innovations in technologies related to electric mobility, digitalization, connected mobility, automated driving, and mobility services.
As the industry undergoes a significant transformation, Munich’s automotive and mobility companies are adopting diverse strategies to stay ahead of the curve. A recent study revealed that a staggering 80 % of these Munich-based companies have already undergone a fundamental shift in their core expertise.
Munich: a hub for information and communications technology
As for the IT sector, Munich holds many crucial incentives and binds a lot of international talents:
Skilled workforce and innovation:
Munich is a leading IT hub, thanks to its highly skilled employees and the focus on research and technology.
Rapid growth in the ICT sector:
Since 2014, employment in Munich’s Information and Communications Technology (ICT) sector has surged by 78%, with over 11.5% of the city’s workforce now employed in ICT.
Home to global tech leaders:
Eight of the world’s top ten tech companies have a presence in Munich, including well-known companies:
- Amazon web services
- Apple
- Google Germany
- Huawei
- IBM Watson
- Microsoft
Other major tech companies in Munich:
- Salesforce (CRM solutions)
- Fujitsu (Digital Transformation Center)
- NEMETSCHEK AG (construction software)
- Eviden (super-computers)
- Other big firms like Capgemini, Cisco Systems, NTT Data, Qualcomm, Telefónica Germany, and more.
Munich’s thriving ICT sector continues to attract major players and innovators alike.
Green economy: Munich’s green-lit future work
Munich’s multidisciplinary “eco-economy“ is particularly inventive. It benefits from the abundance of high-tech companies and a wide range of scientific and research endeavors in the area. The environmental economy in the Munich region is growing at a very fast pace: since 2010, it has increased by 3.8 % yearly. That’s almost twice as fast as the economy as a whole.
The strongest sub-markets in Munich’s environmental economy in terms of employment are the traditional recycling management and closed-loop economy sectors (29 % of employment / approx. 1,900 companies), eco-friendly mobility (24 % / approx. 500 companies) and energy efficiency (19 % / approx. 2,500 companies).
Life sciences prosper here: Biotech and pharma in Munich
Munich and its surrounding region have become true powerhouses in the biotechnology and pharmaceutical industry. This isn’t just hype – the facts speak for themselves. Over 21 % of Germany’s biotech companies are based in the Munich region, driving innovation. The area hosts 25 % of all national clinical studies.
The sector employs 33,400 people across 373 companies. Biotech job growth has nearly doubled in the last decade. Since 2015, biotech startups have increased fivefold, with 21 % of new biotech companies in 2021 starting in Munich.
Munich’s success is supported by eight leading research institutions, including:
- Prestigious universities
- Three Max Planck institutes
- Helmholtz Center for
- Environmental Health
Fraunhofer Institutes
Collaboration between these institutions and businesses is enhanced by strong networking systems, making Munich a hub for innovation. Munich’s proximity to top-tier research and effective collaboration fuel the ongoing success of its biotech and pharmaceuticals sector.
Munich’s innovation scene: Leading in Germany.
Progress has a long tradition here: Munich often ranks as number 1 in Germany for innovation. The city not only boasts important scientific hubs like the “Fraunhofer Institut“ and the mentioned “Max Planck Institut“ – Munich supports both established industries and emerging sectors, with a focus on social impact and sustainability.
Based in Munich, this UN initiative supports innovative solutions in over 120 countries. The WFP Innovation Accelerator is a global leader in social impact startups, tackling issues like:
- Climate change
- Healthcare
- Gender equality
- Emergency response
Munich is home to innovative global tech players, like in the aforementioned information and communications technology (ICT) sector. A famous example is NVIDIA, a leader in AI computing, driving advancements in artificial intelligence and graphics processing.
Thriving creative industries: Munich as a leading cultural and creative hub
Munich’s creative sector spans 11 sub-sectors, with top revenue from:
- Film
- Literature
- Software
- Games
- Advertising
- Design
- Music
Munich was ranked the top cultural city in Germany and second in Europe (behind Paris and ahead of London) by the European Commission’s 2019 Cultural & Creative Cities Monitor.
Creative professionals in Munich support many industries, offering crucial services for optimizing and marketing products.
Learn more about Munich’s creative industries here:
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