Description
Siemens AG is a German multinational technology conglomerate. It is focused on industrial automation, distributed energy resources, rail transport and health technology. Siemens is the largest industrial manufacturing company in Europe, and holds the position of global market leader in industrial automation and industrial software.
The origins of the conglomerate can be traced back to 1847 to the Telegraphen Bau-Anstalt von Siemens & Halske established in Berlin by Werner von Siemens and Johann Georg Halske. In 1966, the present-day corporation emerged from the merger of three companies: Siemens & Halske, Siemens-Schuckert, and Siemens-Reiniger-Werke. Today headquartered in Munich and Berlin, Siemens and its subsidiaries employ approximately 320,000 people worldwide and reported a global revenue of around €78 billion in 2023. The company is a component of the DAX and Euro Stoxx 50 stock market indices. As of December 2023, Siemens is the second largest German company by market capitalization.
As of 2023, the principal divisions of Siemens are Digital Industries, Smart Infrastructure, Mobility, and Financial Services, with Siemens Mobility operating as an independent entity. Major business divisions that were once part of Siemens before being spun off include semiconductor manufacturer Infineon Technologies (1999), Siemens Mobile (2005), Gigaset Communications (2008), the photonics business Osram (2013), Siemens Healthineers (2017), and Siemens Energy (2020).
