Technology is the heart of business today. It has made life easier, faster and more accessible to customers and the global market. It improves the customer experience, the production process and business functions. It is expected to continue innovating and improving for years to come.
In the United Kingdom, technology is not only the center of the economy, but also helping innovation in greener cities, health and social care, the financial sector, mobility, and agriculture and manufacturing sectors. The UK is one of the leading global technology innovators and fuels the most critical and complex sectors around the world (i.e. healthcare, agricultural, communication, cyber security, transports).
Here are some unsurprising facts that will prove that the UK can lead the world in tech.
In 2019, latest industry figures, private companies in the UK secured third of European tech investment with a high record of $30.4bn.
In the last year, there are 2.9 million recorded individuals employed in the tech sector. It is expected to grow in the succeeding years.
Tech cities like Edinburgh, Oxford, Cambridge, Bristol, and London, the top 5 destinations for investment contributed to the UK with the highest share in any European Community.
There are about 387,000 programmers and software development professionals employed in the UK. In the entertainment sector the publisher Electronic Arts is leading the field.
The UK plays an integral role in the tech sector with giant tech roots in the steam locomotive, telephone, and the world wide web. Futurist capitalist ventures in the fourth industrial revolution namely FinTech, blockchain, AI, and 5G, continue to innovate and push the UK forwards.
Many people also now claim that London has taken over San Francisco as the startup capital of the world. In fact, according to TechRound and research Dealroom and Tech Nation, the UK is the tech unicorn capital in Europe. Meaning more companies worth $1 billion dollars or higher are located in this area than other global Tech Hubs. It is important to note for startups to focus their innovation plans especially, to those who would be investing in the tech sector, or digitalising their company.