Considering the rush of new technology in the new year, we take a minute for a quick overview of the IT sector trends in 2018.
According to the Tech Nation’s 2018 report, last year was a period of technological growth for the UK. The sector of digital tech business improved 2.6 times faster than the rest of the country’s economy. From around the world, London ranked as the second most connected place for technology after Silicon Valley and that is not all. The same report shows that 16 British towns (Basingstoke, Burnley, Cheltenham, Enniskillen, Guildford and Aldershot, High Wycombe and Aylesbury, Huntingdon, Livingston, Newbury, Reading, Slough and Heathrow, Southend, Stafford, Stevenage and Welwyn Garden City, Swindon, Telford) have digital IT employment rate, higher than the UK average, dubbing Silicon Suburbs. To put this in numbers, the technological worth on UK economy reached £184 billion in 2018, compared to 2016’s impact of £170 billion.
Many factors had major effects on the economy and daily lives. From artificial intelligence and self-driving cars to health tech, the support for this sector was high throughout the year allowing British companies to grow to impressive scales. According to Tech Nation 2018, the digital tech sector in the UK accelerated faster than the rest of the economy. Between 2016-2017 the GDP in the country grew by 1.7% and the tech companies’ turnover increased by 4.5%. The IT sector was growing rapidly, compared to the rest of the economy, in support of founders’ ambition to increase their digital skills and share knowledge with other sectors. The digital economy’s strength started to reveal its huge potential. The UK quickly set a foot on the world’s technological map. The high-pay jobs for high-skilled individuals grew 5 times higher than the rate of the rest of the economy. Start-ups began scaling up to companies with global impact. Leading tech firms proved to be a bright future for creativity and innovation.
Throughout 2018 UK remained among the global leaders in the IT sector through technologies such as blockchain, AI, etc. The new relationship with the EU would force the UK to be more adaptive but it also sparks ambition and innovation. We can only hope that the positive tech trend will continue in 2019, maintaining the country’s status as one of the most technologically elevated places in the world.