Digitization creates product and process innovations as well as new business models and also offers substantial growth potential. At least in the short term, digitization enhances competition. However, in the longer term, platform markets can lead to higher market concentration. Big data allows for tailor-made solutions which offer opportunities but also bear risks. Based on this analysis, policy should ensure that markets stay open and are transparent. New markets and technologies should not be squeezed under rules that are obsolescent and vested rights should not be perpetuated. Instead, the existing legislation should be reviewed and adapted to the new circumstances where necessary. The recently adopted 9th amendment to the Act against Restrictions of Competition (GWB) takes into account the distinctive features of digital markets.