Bergur Thormundsson
Research expert covering technology in the Nordics, AI and smart cities
Get in touch with us nowThe company was originally founded in 1847 as an electrical engineering company that produced electrical telegraphs, and eventually broadened its scope to include telegraph lines, constructing the world’s first electric streetcar line. Throughout the 20th and early 21st centuries, Siemens acquired and combined with various other companies to increase its capabilities, expanding its specializations into the various sectors in which it operates today, including industry, energy, healthcare, infrastructure, and cities.
Siemens Healthineers as the best performing segment in 2021
The Healthineers division was Siemens AG's most profitable business unit in 2021, with revenue of almost 18 billion euros. This segment aims to manufacture medical devices by using new technologies such as artificial intelligence, automation and robotics, and sensing. To catch up with these core technologies, Siemens AG invested 4.9 billion euros into research and development within the company.During the COVID-19 pandemic, Siemens Healthineers started collaborating with a pharmaceutical company GSK to digitalize the development and manufacture of the COVID-19 vaccine. As of March 2021, the GSK/Sanofi vaccine was ordered in over 700 million doses. Moreover, Siemens is currently producing one of the top-performing rapid antigen tests and antibody tests.
The spin-off: Siemens Energy
In April 2020, Siemens AG merged two of its energy divisions into an independent company. The newly established Siemens Energy AG manufactures components for and operates power plants, wind energy, oil and gas exploration facilities, and power transmission segments through its two divisions: Gas and Power, and Siemens Gamesa Renewable Energy. In 2021, Siemens Energy generated more than 28 billion euros, with approximately 10 billion euros coming from Siemens Gamesa Renewable Energy. About 28 percent of Siemens Energy’s revenue was generated in the Americas in 2021.
