Forecast: Wages and Salaries of Software Publishing in the UK

The wages and salaries of software publishing in the UK showed significant volatility between 2013 and 2023. The period started with a steep decline of 9.08% in 2013, followed by a significant rise of 56.85% in 2014. Thereafter, the growth continued albeit at varying rates, with notable drops in 2016 (-19.32%) and slight fluctuations in later years. By 2023, wages and salaries stood at approximately €726.2 million, reflecting a moderate growth trend over the last two years with annual increases of around 2.38% and 2.27% respectively.

The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) stood at 1.81%, indicating steady but slower growth. This trend is projected to continue in the future with a forecast 5-year CAGR of 1.57%, culminating in an estimated €802.3 million by 2028.

Future trends to watch for include continued growth, albeit at a slower pace, influenced by industry factors such as technological advancements, changes in demand for software products, and potential macroeconomic shifts. Companies should prepare for a steady but cautious investment in human capital to align with this trend. Monitoring policy changes and global market influences will also be crucial for anticipating future variations in wage growth.