The IT services output in the UK has shown consistent growth from 2013 to 2023, with an increase from £69.79 billion to £135.61 billion. The year-on-year variations indicate fluctuations, with notable highs in 2017 (10.65%) and 2021 (11.16%), and slower growth periods like 2020 (2.78%). The CAGR over the past five years (2018-2023) is 6.28%, showcasing robust growth in the sector.
Future trends to watch for in the UK IT services market include the increasing adoption of emerging technologies such as artificial intelligence, cloud computing, and cybersecurity solutions. The forecasted CAGR of 3.79% from 2024 to 2028 suggests steady growth, though at a slightly slower rate than the past decade, with a 20.42% overall growth expected in this period.
