The ICT industry's share in the UK's GDP is forecasted to increase gradually from 6.3% in 2024 to 6.43% in 2028. Notably, in 2023, the ICT sector stood at 6.25% of GDP. This data indicates a consistent, albeit modest, year-on-year growth in the industry's contribution to the economy.
Year-on-year, the ICT industry's share in GDP is projected to rise as follows:
- 2024: +0.8%
- 2025: +0.63%
- 2026: +0.47%
- 2027: +0.47%
- 2028: +0.47%
The compound annual growth rate (CAGR) for the ICT industry’s share over the five-year period from 2024 to 2028 is approximately 0.49% annually. This positive growth trajectory reflects a steady expansion that aligns with ongoing digital transformation and increased reliance on ICT solutions across various sectors.
Future trends to watch for include advancements in artificial intelligence, 5G adoption, increased cybersecurity measures, and IoT integration, which could drive further growth in the ICT sector's GDP share. Monitoring these technological developments will be crucial for understanding the evolving landscape of the ICT industry in the UK.
