Data released by Dealroom, analysed for the UK’s Digital Economy Council, reveals that the UK’s growing tech sector is now valued at $1 trillion, only the third country in the world to reach this landmark.
This means that the UK’s tech industry is valued at more than double that of Germany – and almost five times the value of France and Sweden.
“The UK tech sector is going through something of a renaissance. In many ways it is the heart of the UK economy, defined by innovation and a spirit to constantly redefine what is possible with technology – delivering exceptional results for businesses and consumers alike. Globally the UK is now renowned as a hub for cutting-edge technology in a range of fields, from health to insurance technology, AI to cloud-native programming.
“A vital ingredient in the sector’s success is the UK’s thriving ecosystem of talent. Alongside a slate of world-leading universities, many companies are starting to tap into alternative talent pathways such as apprenticeships and T-Levels. These open up opportunities in tech for candidates from diverse backgrounds who, crucially, provide businesses with the ideas and fresh perspectives to stay in touch with customers’ evolving preferences in the years ahead.”