The production value of computer programming in the UK has displayed varying trends from 2013 to 2023, starting at 17.63 billion Euros in 2013 and reaching 35.64 billion Euros in 2023. The sector saw notable peaks and troughs, particularly, a decline in 2016 and 2020, followed by significant growth bursts in 2015, 2018, and 2021. The year-on-year growth rate was highest at 27.2% in 2021, indicating a strong rebound post-2020's slump. The average annual growth (CAGR) over the past five years (2019-2023) stands at approximately 2.73%.
Future projections suggest a steady increase, with the production value forecasted to rise to 41.36 billion Euros by 2028. The expected five-year CAGR from 2024 to 2028 is 2.32%, reflecting moderate but continuous growth.
Future trends to watch for:
- Increased adoption of AI and machine learning in software development.
- Growing demand for cybersecurity services.
- Expansion of remote and cloud-based programming solutions.
- Potential disruptions from regulatory changes and economic fluctuations.
