Formal methods encompass a wide choice of techniques and tools for the specification, development, analysis, and verification of software and hardware systems. Formal methods are widely applied in industry, in activities ranging from the elicitation of requirements and the early design phases all the way to the deployment, configuration, and runtime monitoring of actual systems. Formal methods allow one to precisely specify the environment in which a system operates, the requirements and properties that the system should satisfy, the models of the system used during the various design steps, and the code embedded in the final implementation, as well as to express conformance relations between these specifications. We present a broad scope of successful applications of formal methods in industry, not limited to the well-known success stories from the safety-critical domain, like railways and other transportation systems, but also covering other areas such as lithography manufacturing and cloud security in e-commerce, to name but a few. We also report testimonies from a number of representatives from industry who, either directly or indirectly, use or have used formal methods in their industrial project endeavours. These persons are spread geographically, including Europe, Asia, North and South America, and the involved projects witness the large coverage of applications of formal methods, not limited to the safety-critical domain. We thus make a case for the importance of formal methods, and in particular of the capacity to abstract and mathematical reasoning that are taught as part of any formal methods course. These are fundamental Computer Science skills that graduates should profit from when working as computer scientists in industry, as confirmed by industry representatives.