United Kingdom ICT Market Size and Share - Outlook Report, Forecast Trends and Growth Analysis (2025-2034)

The United Kingdom ICT market reached approximately USD 176.80 Billion in 2024. The market is projected to grow at a CAGR of 11.20% between 2025 and 2034, reaching a value of around USD 511.13 Billion by 2034.

United Kingdom ICT Market Outlook

• In October 2023, the UK government announced an initial funding of £70 million towards the advancement of next-generation telecommunications technology through the Technology Mission Fund.
• The artificial intelligence market in the UK was valued exceeding $21 billion in 2023 and is projected to surpass $1 trillion by the year 2035.
• The widespread adoption of 5G in the UK is anticipated to bring in £159 billion ($202 billion) in productivity benefits by 2035, with improvements in manufacturing and traffic management as key examples.

United Kingdom ICT Market Growth

The rapid adoption of 5G technology in the United Kingdom market for ICT is a significant trend, with numerous market players investing in its deployment throughout the country. The UK government aims to achieve widespread 5G coverage for the majority of the population by 2027, connect an additional 15 million premises to full-fibre by 2025, and achieve nationwide full-fibre coverage by 2033.

To enhance the UK's capacity to influence the development of future communication networks, the government has recognised future telecommunications as a crucial technology within the Science and Technology Framework. This signifies a long-term dedication to promoting advanced connectivity solutions in the UK. As part of this initiative, an initial investment of up to £100 million has been allocated to establish a new Future Telecoms Mission under the broader DSIT Technology Mission Fund (TMF) initiatives. The aim is to support the UK in becoming a pioneer in 6G technology and beyond, which includes enhancing network energy efficiency through cloudification.

Moreover, artificial intelligence and machine learning are being incorporated into a wide range of ICT applications to improve data analysis capabilities, streamline operations, and enhance decision-making efficiency across different industries. Furthermore, artificial intelligence is poised to transform the market by boosting the performance of communications, content, applications, and digital commerce using technologies such as machine learning, deep learning, and natural language processing.

United Kingdom ICT Industry Segmentation

“United Kingdom ICT Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type:

• Hardware_x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
• Hardware_x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
• Software
• Software
• IT and Infrastructure Services
• Telecommunication Services

Market Breakup by Enterprise Size;:

• Small and Medium Enterprises
• Large Enterprises:

Market Breakup by Industry Vertical:

• BFSI
• IT and Telecom
• Government
• Retail and E-Commerce
• Manufacturing
• Energy and Utilities
• Others

Market Breakup by Region:

• England
• Wales
• Northern-Ireland
• Scotland

United Kingdom ICT Market Share

Based on industry vertical, the market is divided into BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others. The BFSI sector is projected to grow at a CAGR of 11.5% over the forecast period of 2025-2034. ICT, or Information and Communication Technology, has revolutionised the way banking and financial institutions operate. With advancements in technology, customers now expect quick and efficient services that are accessible anytime, anywhere. ICT enables banks to meet these demands by offering online banking, mobile banking, and other digital services that make transactions easier and more convenient for customers.

Furthermore, ICT allows banks to streamline their operations, reduce costs, and improve efficiency. By automating processes and implementing digital solutions, banks can provide faster and more accurate services to their customers. This not only enhances customer satisfaction but also helps banks stay competitive in the rapidly evolving financial sector.

Leading Companies in the United Kingdom ICT Market

Major market players are investing heavily in technological upgrades to gain a competitive edge.

• IBM Corp.
• Cisco Systems Inc.
• Google LLC
• AT&T Inc.
• Fujitsu Ltd.
• Oracle Corp.
• Verizon Communications Inc.
• Huawei Technologies Co., Ltd.
• Fortinet Inc.
• Capgemini SE
• Others

United Kingdom ICT Market Report Snapshots

United Kingdom ICT Market Size

United Kingdom ICT Market Growth

United Kingdom ICT Market Share

United Kingdom ICT Companies