Press release
UK Technology Market to Reach USD 2.80 Trillion by 2033
Base Year: 2024
Forecast Years: 2025-2033
Historical Years: 2019-2024
Market Size in 2024: USD 1.30 Trillion
Market Forecast in 2033: USD 2.80 Trillion
Market Growth Rate 2025-2033: 7.60%
UK Technology Market Overview
UK's technology market is going through an acceleration in revenue generation mainly due to the digital transformation, AI and 5G proliferation, and investments in cybersecurity and green tech. All these factors are paving ways to global sustainable growth across the tech landscape, projecting a positive outlook on the UK tech market.
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UK Technology Market Trends and Market Drivers
Rising Adoption of Artificial Intelligence and Machine Learning:
Machine learning and AI are forcing a radical transformation on the UK tech industry. Healthcare is improving on patient outcomes through AI-based diagnostics and personalized treatment plans. AI in finance is trading, fraud detection, chatbot-services, and business-process automation. In retail, problems are solved through predictive analytics and personal shopping, whilst AI-powered automation increases operational efficiency in manufacturing. These are the fastest ways to detect and respond to threats.
Government Initiatives and International Collaborations:
In April 2024, the U.S. and British governments announced a new partnership to jointly address AI safety concerns. The partnership includes areas such as testing for advanced AI models and exchanging critical information about AI risks and capabilities. The two countries also plan to conduct joint exercises and promote the formation of similar partnerships with other countries. It is hoped that this collaboration will further strengthen the growth of the UK technology market through developments in safe and responsible AI.
UK Technology Market Segmentation
1. By Technology Type
o Artificial Intelligence
o Cloud Computing
o Internet of Things (IoT)
o Big Data Analytics
o Blockchain
o Others
2. By Enterprise Size
o Large Enterprises
o Small and Medium-sized Enterprises
3. By Deployment Mode
o On-premises
o Cloud-based
4. By Industry Vertical
o BFSI
o Healthcare
o Retail
o Manufacturing
o IT and Telecom
o Others
5. By Region
o London
o South East
o North West
o East of England
o South West
o Scotland
o West Midlands
o Yorkshire and The Humber
o East Midlands
o Others
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UK Technology Market News
April 2024: The U.S. and British governments announced a new partnership to jointly address safety concerns around AI. This collaboration focuses on advanced testing for AI models and sharing critical information regarding AI risks and capabilities, aiming to ensure safe and responsible AI development.
March 2024: A leading UK-based tech firm launched a new AI-driven platform designed to enhance cybersecurity measures for small and medium-sized enterprises, addressing the growing need for robust digital security solutions.
Key Highlights of the Report
1. Market Performance (2019-2024)
2. Market Outlook (2025-2033)
3. COVID-19 Impact on the Market
4. Porter's Five Forces Analysis
5. Strategic Recommendations
6. Historical, Current and Future Market Trends
7. Market Drivers and Success Factors
8. SWOT Analysis
9. Structure of the Market
10. Value Chain Analysis
11. Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC's offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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