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United Kingdom ICT Market Size, Share, Report, Forecast: By Type: Hardware, Software, IT and Infrastructure Services, Telecommunication Services; By Enterprise Size: Small and Medium Enterprises, Large Enterprises; By Industry Vertical: BFSI, IT and Telecom, Government, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
United Kingdom ICT Market Size
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% |
United Kingdom ICT Market Outlook
- In October 2023, the UK government announced an initial funding of £70 million towards the advancement of next-generation telecommunications technology through the Technology Mission Fund.
- The artificial intelligence market in the UK was valued exceeding $21 billion in 2023 and is projected to surpass $1 trillion by the year 2035.
- The widespread adoption of 5G in the UK is anticipated to bring in £159 billion ($202 billion) in productivity benefits by 2035, with improvements in manufacturing and traffic management as key examples.
United Kingdom ICT Market Growth
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 Industry Segmentation
“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
- Hardware
- Network Switches
- Routers and WLAN
- Servers and Storage
- Others
- Software
- IT and Infrastructure Services
- Telecommunication Services
Market Breakup by Enterprise Size
- Small and Medium Enterprises
- Large Enterprises
| CAGR 2024-2032 - Market by | Enterprise Size |
| Small and Medium Enterprises | 12.5% |
| Large Enterprises | XX% |
Market Breakup by Industry Vertical
- BFSI
- IT and Telecom
- Government
- Retail and E-Commerce
- Manufacturing
- Energy and Utilities
- Others
| 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
- England
- Wales
- Northern-Ireland
- Scotland
| CAGR 2024-2032 - Market by | Region |
| Wales | 12.1% |
| Scotland | 11.6% |
| England | XX% |
| Northern Ireland | XX% |
United Kingdom ICT Market Share
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.
Leading Companies in the United Kingdom ICT Market
Major market players are investing heavily in technological upgrades to gain a competitive edge.
- 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
- Others
Key Highlights of the Report
| 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:
|
| Breakup by Type |
|
| Breakup by Enterprise Size |
|
| Breakup by Industry Vertical |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
|
| Companies Covered |
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United Kingdom ICT Market Report Snapshots
United Kingdom ICT Market Size
United Kingdom ICT Market Growth
United Kingdom ICT Market Share
*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Europe ICT Market Overview
8.1 Key Industry Highlights
8.2 Europe ICT Historical Market (2018-2023)
8.3 Europe ICT Market Forecast (2024-2032)
9 United Kingdom ICT Market Overview
9.1 Key Industry Highlights
9.2 United Kingdom ICT Historical Market (2018-2023)
9.3 United Kingdom ICT Market Forecast (2024-2032)
10 United Kingdom ICT Market by Type
10.1 Hardware
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Network Switches
10.1.3.2 Routers and WLAN
10.1.3.3 Servers and Storage
10.1.3.4 Others
10.2 Software
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 IT and Infrastructure Services
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Telecommunication Services
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 United Kingdom ICT Market by Enterprise Size
11.1 Small and Medium Enterprises
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Large Enterprises
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 United Kingdom ICT Market by Industry Vertical
12.1 BFSI
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 IT and Telecom
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Government
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Retail and E-Commerce
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Manufacturing
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Energy and Utilities
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Others
13 United Kingdom ICT Market by Region
13.1 England
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Wales
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Northern-Ireland
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Scotland
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 IBM Corp.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Cisco Systems Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Google LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 AT&T Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Fujitsu Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Oracle Corp.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Verizon Communications Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Huawei Technologies Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Fortinet Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Capgemini SE
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Europe ICT Market: Key Industry Highlights, 2018 and 2032
2. United Kingdom ICT Market: Key Industry Highlights, 2018 and 2032
3. United Kingdom ICT Historical Market: Breakup by Type (USD Billion), 2018-2023
4. United Kingdom ICT Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. United Kingdom ICT Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
6. United Kingdom ICT Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
7. United Kingdom ICT Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2023
8. United Kingdom ICT Market Forecast: Breakup by Industry Vertical (USD Billion), 2024-2032
9. United Kingdom ICT Historical Market: Breakup by Region (USD Billion), 2018-2023
10. United Kingdom ICT Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. United Kingdom ICT Market Structure
Key Questions Answered in the Report
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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