Forecast: Turnover in Software Publishing Sector in the UK

The UK software publishing sector has demonstrated a general upward trajectory from 2013 to 2023, with a noticeable peak in 2018. Turnover in 2023 stood at £3.66 billion, reflecting a 2.98% annual increase compared to the previous year. The sector experienced fluctuating year-on-year growth rates, reaching up to 17.28% in 2018 and facing a decline of 6.75% in 2019.

Over the past five years, the CAGR has been relatively stable, averaging 2.01%. Forecasts indicate continued growth, with the sector anticipated to reach £4.16 billion by 2028, representing a 10.46% total increase over this period.

Future trends to watch for:

• Expansion in cloud-based software solutions.
• Increased investment in AI and machine learning software.
• Adoption of subscription-based models leading to recurring revenue streams.
• Potential impacts of regulatory changes post-Brexit.