Base Year
Historical Year
Forecast Year
The United Kingdom ICT market reached approximately USD 176.80 billion in 2023. The market is projected to grow at a CAGR of 11.2% between 2024 and 2032, reaching a value of around USD 459.65 billion by 2032.
| United Kingdom ICT Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 176.80 |
| Market Size 2032 | USD Billion | 459.65 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 11.2% |
| CAGR 2024-2032 - Market by Enterprise Size | Small and Medium Enterprises | 12.5% |
| CAGR 2024-2032 - Market by Industry Vertical | Retail and E-Commerce | 12.8% |
| CAGR 2024-2032 - Market by Region | Wales | 12.1% |
| 2023 Market Share by Region | England | 88.1% |
The rapid adoption of 5G technology in the United Kingdom market for ICT is a significant trend, with numerous market players investing in its deployment throughout the country. The UK government aims to achieve widespread 5G coverage for the majority of the population by 2027, connect an additional 15 million premises to full-fibre by 2025, and achieve nationwide full-fibre coverage by 2033.
To enhance the UK's capacity to influence the development of future communication networks, the government has recognised future telecommunications as a crucial technology within the Science and Technology Framework. This signifies a long-term dedication to promoting advanced connectivity solutions in the UK. As part of this initiative, an initial investment of up to £100 million has been allocated to establish a new Future Telecoms Mission under the broader DSIT Technology Mission Fund (TMF) initiatives. The aim is to support the UK in becoming a pioneer in 6G technology and beyond, which includes enhancing network energy efficiency through cloudification.
Moreover, artificial intelligence and machine learning are being incorporated into a wide range of ICT applications to improve data analysis capabilities, streamline operations, and enhance decision-making efficiency across different industries. Furthermore, artificial intelligence is poised to transform the market by boosting the performance of communications, content, applications, and digital commerce using technologies such as machine learning, deep learning, and natural language processing.
“United Kingdom ICT Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Enterprise Size
| CAGR 2024-2032 - Market by | Enterprise Size |
| Small and Medium Enterprises | 12.5% |
| Large Enterprises | XX% |
Market Breakup by Industry Vertical
| CAGR 2024-2032 - Market by | Industry Vertical |
| Retail and E-Commerce | 12.8% |
| IT and Telecom | 12.0% |
| BFSI | 11.5% |
| Government | XX% |
| Manufacturing | XX% |
| Energy and Utilities | XX% |
Market Breakup by Region
| CAGR 2024-2032 - Market by | Region |
| Wales | 12.1% |
| Scotland | 11.6% |
| England | XX% |
| Northern Ireland | XX% |
Based on industry vertical, the market is divided into BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others. The BFSI sector is projected to grow at a CAGR of 11.5% over the forecast period of 2024-2032. ICT, or Information and Communication Technology, has revolutionised the way banking and financial institutions operate. With advancements in technology, customers now expect quick and efficient services that are accessible anytime, anywhere. ICT enables banks to meet these demands by offering online banking, mobile banking, and other digital services that make transactions easier and more convenient for customers.
| 2023 Market Share by | Region |
| England | 88.1% |
| Wales | XX% |
| Northern Ireland | XX% |
| Scotland | XX% |
Furthermore, ICT allows banks to streamline their operations, reduce costs, and improve efficiency. By automating processes and implementing digital solutions, banks can provide faster and more accurate services to their customers. This not only enhances customer satisfaction but also helps banks stay competitive in the rapidly evolving financial sector.
Major market players are investing heavily in technological upgrades to gain a competitive edge.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Enterprise Size |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United Kingdom ICT Market Size
United Kingdom ICT Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 176.80 billion.
The market is estimated to grow at a CAGR of 11.2% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 459.65 billion by 2032.
The market is being driven by rapid urbanisation, advancements in next-generation telecommunications, and swift digitalisation across the country.
The key trends aiding the ICT market in United Kingdom include the integration of artificial intelligence into ICT services and the rapid adoption of technologies like 5G across.
The different enterprise sizes considered in the market report include small and medium enterprises and large enterprises.
The major regions considered in the market are England, Wales, Northern Ireland, and Scotland.
The United Kingdom ICT market report includes IBM Corp., Cisco Systems Inc., Google LLC, AT&T Inc., Fujitsu Ltd., Oracle Corp., Verizon Communications Inc., Huawei Technologies Co., Ltd., Fortinet Inc., Capgemini SE, and among Others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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