Market Trends of United Kingdom ICT Industry
This section covers the major market trends shaping the UK ICT Market according to our research experts:
Telecommunication Sector is expected to Hold the Substantial Market Share
- With steady technological advancements, telecom businesses are continuously focusing and investing in innovation. As a result, they are improving their infrastructure while providing cutting-edge solutions to support their clients, such as infrastructure configuration, innovation, customer service, and human resources. For instance, in October 2022, Qualcomm Technologies and Vodafone partnered to offer 5G Open RAN Infrastructure solutions based on the high-performance Qualcomm QRU100 5G RAN Platform and Qualcomm X100 5G RAN Accelerator Card. With high-performance, energy-efficient radio and distributed unit solutions, our collaboration sought to enable the next wave of digital transformation and spread Open RAN installations globally.
- Furthermore, in September 2022, Tech Mahindra developed a Google Cloud Telco Smart Analytics Lab in Milton Keynes, UK. The company aims to expedite data-driven digital transformation for companies in various industries, including telecoms. The Telco Smart Analytics Lab develops data analytics solutions on Google Cloud to assist Communications Service Providers (CSPs) worldwide in modernizing their data ecosystems and supporting analytics-driven operations.
- The brand value of telecommunication providers is increasing in the country with time. Vodafone's brand worth has risen dramatically in the recent year, and it held its position as the most valuable telecom brand in the United Kingdom.
Understand The Key Trends Shaping This Market
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Surge in demand of IT Services bolster the market growth in the country
- Throughout the economic disruption of COVID-19, the IT services sector exhibited considerable growth as businesses pushed their digital programs to remain operational under unusual conditions. The market is expected to develop significantly in the following years as emerging disruptive technologies create new possibilities. Organizations strive to combine the increasingly powerful capabilities of artificial intelligence and machine learning. For instance, in September 2022, FIDO Tech Ltd in the United Kingdom announced a multi-million pound (GBP) acquisition by SKion Water GmbH and a follow-on investment managed by Emerald Solution Ventures to expedite the expansion of its innovative water leak technology.
- As data volumes continue to rise, several new developments will keep the business afloat in the following years, including quantum computing and edge computing. Companies are also redeploying their IT systems to the cloud. For instance, in March 2022, Amazon Web Services (AWS) will invest GBP 1.8 billion in cloud computing infrastructure in the United Kingdom within two years, doubling its investment in Britain.
- The top three providers, Amazon Web Services (AWS), Microsoft Azure, and Google Cloud, accounted for 63% of the total market spending in Q2 2022 and increased 42% globally. In Q2 2022, AWS accounted for 31% of overall cloud infrastructure services spending and increased 33% annually. Azure was the second most significant cloud service provider in Q2, accounting for 24% of the market after rising 40% annually. Google Cloud increased by 45% in the most recent quarter and held an 8% market share.
