Forecast: ICT Gross Value Added in the UK

The UK's ICT Gross Value Added (GVA) experienced notable growth from 2023's actual value of €166.4 billion. Forecast data projects a steady increase from 2024 at €169.6 billion to €182.47 billion by 2028. Analyzing year-on-year growth rates reveals moderate increases, with annual growth percentages consistently around 2%. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is approximately 1.85%, reflecting steady but unspectacular growth.

Future trends to watch for:

  • Rapid advancements in emerging technologies like AI and 5G could drive ICT sector expansion.
  • Policy changes, especially post-Brexit, may impact investment and operational dynamics in the ICT industry.
  • Market demand for digital transformation across sectors could further boost ICT contributions to GVA.

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