The ICT and Information Services sector in the UK has demonstrated a consistent upward trajectory in employment numbers from 2013 to 2023, reaching 797.46 thousand units in 2023. Over the past decade, growth rates have varied, with year-on-year increases peaking at 8.4% in 2014 and gradually decelerating to 1.99% in 2023. Despite fluctuations, the last five years have seen an average annual growth rate (CAGR) of 2.11%. Looking ahead, forecast data suggests a continued, albeit slower, growth with a five-year CAGR of 1.39% leading to an estimated 870.74 thousand employees by 2028.
Future trends to watch for include:
- Adoption of emerging technologies like AI and cloud computing, which may drive demand for new skill sets.
- Potential impacts of geopolitical factors and economic policies on hiring trends and workforce distribution.
- Increased emphasis on remote working and digital transformation across industries.
- Fluctuations in global market conditions that can impact the growth trajectory of the ICT sector.