United Kingdom ICT Market Size and Share - Outlook Report, Forecast Trends and Growth Analysis (2025-2034)
Description
The United Kingdom ICT market reached approximately USD 176.80 Billion in 2024. The market is projected to grow at a CAGR of 11.20% between 2025 and 2034, reaching a value of around USD 511.13 Billion by 2034.
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 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type:
Hardware_x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
Hardware_x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
Software
Software
IT and Infrastructure Services
Telecommunication Services
Market Breakup by Enterprise Size;
•
Small and Medium Enterprises
Large Enterprises•
Market Breakup by Industry Vertical:
BFSI
IT and Telecom
Government
Retail and E-Commerce
Manufacturing
Energy and Utilities
Others
Market Breakup by Region:
England
Wales
Northern-Ireland
Scotland
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 2025-2034. 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.
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
United Kingdom ICT Market Report Snapshots
United Kingdom ICT Market Size
United Kingdom ICT Market Growth
United Kingdom ICT Market Share
United Kingdom ICT Companies
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 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type:
Hardware_x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
Hardware_x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
Software
Software
IT and Infrastructure Services
Telecommunication Services
Market Breakup by Enterprise Size;
•
Small and Medium Enterprises
Large Enterprises•
Market Breakup by Industry Vertical:
BFSI
IT and Telecom
Government
Retail and E-Commerce
Manufacturing
Energy and Utilities
Others
Market Breakup by Region:
England
Wales
Northern-Ireland
Scotland
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 2025-2034. 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.
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
United Kingdom ICT Market Report Snapshots
United Kingdom ICT Market Size
United Kingdom ICT Market Growth
United Kingdom ICT Market Share
United Kingdom ICT Companies
Table of Contents
98 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Europe ICT Market Overview
- 5.1 Key Industry Highlights
- 5.2 Europe ICT Historical Market (2018-2024)
- 5.3 Europe ICT Market Forecast (2025-2034)
- 6 United Kingdom ICT Market Overview
- 6.1 Key Industry Highlights
- 6.2 United Kingdom ICT Historical Market (2018-2024)
- 6.3 United Kingdom ICT Market Forecast (2025-2034)
- 7 United Kingdom ICT Market by Type
- 7.1 Hardware
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.1.3 Breakup by Type
- 7.1.3.1 Network Switches
- 7.1.3.2 Routers and WLAN
- 7.1.3.3 Servers and Storage
- 7.1.3.4 Others
- 7.2 Software
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 IT and Infrastructure Services
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Telecommunication Services
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 8 United Kingdom ICT Market by Enterprise Size
- 8.1 Small and Medium Enterprises
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Large Enterprises
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 United Kingdom ICT Market by Industry Vertical
- 9.1 BFSI
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 IT and Telecom
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Government
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Retail and E-Commerce
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 9.5 Manufacturing
- 9.5.1 Historical Trend (2018-2024)
- 9.5.2 Forecast Trend (2025-2034)
- 9.6 Energy and Utilities
- 9.6.1 Historical Trend (2018-2024)
- 9.6.2 Forecast Trend (2025-2034)
- 9.7 Others
- 10 United Kingdom ICT Market by Region
- 10.1 England
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Wales
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Northern-Ireland
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 Scotland
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 IBM Corp.
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Cisco Systems Inc.
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Google LLC
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 AT&T Inc.
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Fujitsu Ltd.
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Oracle Corp.
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Verizon Communications Inc.
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Huawei Technologies Co., Ltd.
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 Fortinet Inc.
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 Capgemini SE
- 12.5.10.1 Company Overview
- 12.5.10.2 Product Portfolio
- 12.5.10.3 Demographic Reach and Achievements
- 12.5.10.4 Certifications
- 12.5.11 Others
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